TRAGEST: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
TRAGEST
Largest movements
- Stocks and contracts +€13,656
up €13,656 (+107.4%), from €12,720 to €26,376
of which Stocks: +€9,876
- Cash -€6,068
down €6,068 (-95.5%), from €6,355 to €287
mainly Stocks and contracts (-€13,656) and Net result for the year (-€9,477)
- Tangible fixed assets -€5,483
down €5,483 (-39.4%), from €13,933 to €8,451
of which Plant, machinery and equipment: -€4,888
- Receivables within one year +€1,786
up €1,786 (+28.5%), from €6,268 to €8,054
of which Trade receivables: +€2,669
- Advances received +€17,490
new in 2025: €17,490
- Profit (loss) carried forward -€9,477
down €9,477, from €4,567 to -€4,911
- Trade debts +€6,503
up €6,503 (+8289.8%), from €78 to €6,582
- Tax, wage and social debts -€5,577
down €5,577 (-61.5%), from €9,062 to €3,485
- Current portion of long-term debt -€2,238
down €2,238 (-56.7%), from €3,951 to €1,713
- Gross operating margin -€23,365
down €23,365, from €21,201 to -€2,164
- Taxes -€3,901
down €3,901, from €3,702 to -€199
- Other operating charges -€2,168
down €2,168 (-73.8%), from €2,938 to €770
- Depreciation +€299
up €299 (+4.9%), from €6,080 to €6,380
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €39,592 | €43,359 | +€3,767 | +9.5% |
| Fixed assets | 21/28 | €13,933 | €8,451 | -€5,483 | -39.4% |
| Tangible fixed assets | 22/27 | €13,933 | €8,451 | -€5,483 | -39.4% |
| Plant, machinery and equipment | 23 | €12,696 | €7,807 | -€4,888 | -38.5% |
| Furniture and vehicles | 24 | €1,238 | €643 | -€594 | -48.0% |
| Current assets | 29/58 | €25,658 | €34,908 | +€9,250 | +36.1% |
| Stocks and contracts in progress | 3 | €12,720 | €26,376 | +€13,656 | +107.4% |
| Stocks | 30/36 | - | €9,876 | +€9,876 | |
| Contracts in progress | 37 | €12,720 | €16,500 | +€3,780 | +29.7% |
| Amounts receivable within one year | 40/41 | €6,268 | €8,054 | +€1,786 | +28.5% |
| Trade receivables | 40 | €3,562 | €6,230 | +€2,669 | +74.9% |
| Other amounts receivable | 41 | €2,707 | €1,824 | -€883 | -32.6% |
| Cash at bank and in hand | 54/58 | €6,355 | €287 | -€6,068 | -95.5% |
| Deferred charges and accrued income | 490/1 | €315 | €191 | -€124 | -39.3% |
| Total equity and liabilities | 10/49 | €39,592 | €43,359 | +€3,767 | +9.5% |
| Equity | 10/15 | €23,567 | €14,089 | -€9,477 | -40.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Outside capital | 11 | €4,000 | - | -€4,000 | |
| Other | 1109/19 | €4,000 | - | -€4,000 | |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,567 | -€4,911 | -€9,477 | |
| Amounts payable | 17/49 | €16,025 | €29,270 | +€13,245 | +82.6% |
| Amounts payable after more than one year | 17 | €1,713 | - | -€1,713 | |
| Financial debts | 170/4 | €1,713 | - | -€1,713 | |
| Amounts payable within one year | 42/48 | €14,312 | €29,270 | +€14,957 | +104.5% |
| Current portion of amounts payable after more than one year | 42 | €3,951 | €1,713 | -€2,238 | -56.7% |
| Trade debts | 44 | €78 | €6,582 | +€6,503 | +8289.8% |
| Suppliers | 440/4 | €78 | €6,582 | +€6,503 | +8289.8% |
| Advances received on contracts in progress | 46 | - | €17,490 | +€17,490 | |
| Taxes, remuneration and social security | 45 | €9,062 | €3,485 | -€5,577 | -61.5% |
| Taxes | 450/3 | €9,062 | €3,485 | -€5,577 | -61.5% |
| Other amounts payable | 47/48 | €1,221 | - | -€1,221 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,080 | €6,380 | +€299 | +4.9% |
| Other operating charges | 640/8 | €2,938 | €770 | -€2,168 | -73.8% |
| Gross operating margin | 9900 | €21,201 | -€2,164 | -€23,365 | |
| Operating profit (loss) | 9901 | €12,183 | -€9,313 | -€21,496 | |
| Financial charges | 65/66B | €549 | €363 | -€185 | -33.8% |
| Recurring financial charges | 65 | €549 | €363 | -€185 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €11,634 | -€9,676 | -€21,311 | |
| Income taxes | 67/77 | €3,702 | -€199 | -€3,901 | |
| Profit (loss) for the period | 9904 | €7,932 | -€9,477 | -€17,409 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,932 | -€9,477 | -€17,409 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.