TRAIN COMPANION: what changed
Two financial 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.
TRAIN COMPANION
Largest movements
- Cash +€44,314
up €44,314 (+118.0%), from €37,548 to €81,863
mainly Net result for the year (+€58,963) and Depreciation (+€13,051)
- Current investments +€15,000
new in 2025: €15,000
- Tangible fixed assets -€13,051
down €13,051 (-26.9%), from €48,553 to €35,503
- Profit (loss) carried forward +€58,963
up €58,963 (+103.3%), from €57,096 to €116,059
- Debts after one year -€12,104
down €12,104 (-35.0%), from €34,539 to €22,434
- Depreciation -€4,708
down €4,708 (-26.5%), from €17,758 to €13,051
- Gross operating margin -€3,572
down €3,572 (-3.8%), from €93,064 to €89,492
- Financial charges -€1,164
down €1,164 (-39.4%), from €2,953 to €1,789
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 | €122,982 | €171,094 | +€48,112 | +39.1% |
| Fixed assets | 21/28 | €48,553 | €35,503 | -€13,051 | -26.9% |
| Tangible fixed assets | 22/27 | €48,553 | €35,503 | -€13,051 | -26.9% |
| Furniture and vehicles | 24 | €48,553 | €35,503 | -€13,051 | -26.9% |
| Current assets | 29/58 | €74,429 | €135,591 | +€61,162 | +82.2% |
| Amounts receivable within one year | 40/41 | €34,911 | €36,520 | +€1,609 | +4.6% |
| Trade receivables | 40 | €34,806 | €36,515 | +€1,710 | +4.9% |
| Other amounts receivable | 41 | €105 | €5 | -€100 | -95.5% |
| Current investments | 50/53 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €37,548 | €81,863 | +€44,314 | +118.0% |
| Deferred charges and accrued income | 490/1 | €1,970 | €2,209 | +€239 | +12.1% |
| Total equity and liabilities | 10/49 | €122,982 | €171,094 | +€48,112 | +39.1% |
| Equity | 10/15 | €61,096 | €120,059 | +€58,963 | +96.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,096 | €116,059 | +€58,963 | +103.3% |
| Amounts payable | 17/49 | €61,886 | €51,035 | -€10,852 | -17.5% |
| Amounts payable after more than one year | 17 | €34,539 | €22,434 | -€12,104 | -35.0% |
| Financial debts | 170/4 | €34,539 | €22,434 | -€12,104 | -35.0% |
| Amounts payable within one year | 42/48 | €27,348 | €28,601 | +€1,253 | +4.6% |
| Current portion of amounts payable after more than one year | 42 | €11,611 | €12,104 | +€494 | +4.3% |
| Trade debts | 44 | €359 | €206 | -€153 | -42.6% |
| Suppliers | 440/4 | €359 | €206 | -€153 | -42.6% |
| Taxes, remuneration and social security | 45 | €13,636 | €13,809 | +€173 | +1.3% |
| Taxes | 450/3 | €13,636 | €13,809 | +€173 | +1.3% |
| Other amounts payable | 47/48 | €1,741 | €2,481 | +€740 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,758 | €13,051 | -€4,708 | -26.5% |
| Other operating charges | 640/8 | €483 | €656 | +€173 | +35.8% |
| Gross operating margin | 9900 | €93,064 | €89,492 | -€3,572 | -3.8% |
| Operating profit (loss) | 9901 | €74,822 | €75,785 | +€963 | +1.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,953 | €1,789 | -€1,164 | -39.4% |
| Recurring financial charges | 65 | €2,953 | €1,789 | -€1,164 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €71,869 | €73,997 | +€2,127 | +3.0% |
| Income taxes | 67/77 | €14,773 | €15,033 | +€260 | +1.8% |
| Profit (loss) for the period | 9904 | €57,096 | €58,963 | +€1,867 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €57,096 | €58,963 | +€1,867 | +3.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.