TRAIN TO MOVE: 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 TO MOVE
Largest movements
- Tangible fixed assets +€54,321
up €54,321 (+30.6%), from €177,405 to €231,727
of which Land and buildings: +€56,302
- Cash +€18,881
up €18,881 (+113%), from €16,717 to €35,598
mainly Other debts (+€56,542) and Accrued charges and deferred income (+€17,811)
- Receivables within one year +€3,543
up €3,543 (+35.4%), from €10,000 to €13,543
of which Trade receivables: +€1,894
- Other debts +€56,542
up €56,542 (+136%), from €41,593 to €98,134
- Accrued charges and deferred income +€17,811
new in 2025: €17,811
- Debts after one year +€12,794
new in 2025: €12,794
- Tax, wage and social debts -€9,158
down €9,158 (-80.5%), from €11,383 to €2,225
- Trade debts -€5,462
down €5,462 (-13.1%), from €41,659 to €36,197
- Gross operating margin +€30,033
up €30,033, from -€9,870 to €20,163
- Depreciation +€11,446
new in 2025: €11,446
- Financial charges +€3,255
up €3,255 (+2,411%), from €135 to €3,390
- Other operating charges +€2,057
up €2,057 (+405%), from €507 to €2,564
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.
Derived cash bridge
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 | €204,122 | €280,868 | +€76,746 | +37.6% |
| Fixed assets | 21/28 | €177,405 | €231,727 | +€54,321 | +30.6% |
| Tangible fixed assets | 22/27 | €177,405 | €231,727 | +€54,321 | +30.6% |
| Land and buildings | 22 | €151,467 | €207,770 | +€56,302 | +37.2% |
| Plant, machinery and equipment | 23 | €25,938 | €23,957 | -€1,981 | -7.6% |
| Current assets | 29/58 | €26,717 | €49,141 | +€22,424 | +83.9% |
| Amounts receivable within one year | 40/41 | €10,000 | €13,543 | +€3,543 | +35.4% |
| Trade receivables | 40 | €10,000 | €11,894 | +€1,894 | +18.9% |
| Other amounts receivable | 41 | - | €1,649 | +€1,649 | |
| Cash at bank and in hand | 54/58 | €16,717 | €35,598 | +€18,881 | +113% |
| Total equity and liabilities | 10/49 | €204,122 | €280,868 | +€76,746 | +37.6% |
| Equity | 10/15 | €109,488 | €112,369 | +€2,881 | +2.6% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,512 | -€7,631 | +€2,881 | +27.4% |
| Amounts payable | 17/49 | €94,634 | €168,499 | +€73,864 | +78.1% |
| Amounts payable after more than one year | 17 | - | €12,794 | +€12,794 | |
| Financial debts | 170/4 | - | €12,794 | +€12,794 | |
| Amounts payable within one year | 42/48 | €94,634 | €137,893 | +€43,259 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | - | €1,338 | +€1,338 | |
| Trade debts | 44 | €41,659 | €36,197 | -€5,462 | -13.1% |
| Suppliers | 440/4 | €41,659 | €36,197 | -€5,462 | -13.1% |
| Taxes, remuneration and social security | 45 | €11,383 | €2,225 | -€9,158 | -80.5% |
| Taxes | 450/3 | €11,383 | €2,225 | -€9,158 | -80.5% |
| Other amounts payable | 47/48 | €41,593 | €98,134 | +€56,542 | +136% |
| Accrued charges and deferred income | 492/3 | - | €17,811 | +€17,811 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €11,446 | +€11,446 | |
| Other operating charges | 640/8 | €507 | €2,564 | +€2,057 | +405% |
| Gross operating margin | 9900 | -€9,870 | €20,163 | +€30,033 | |
| Operating profit (loss) | 9901 | -€10,377 | €6,153 | +€16,530 | |
| Financial income | 75/76B | - | €118 | +€118 | |
| Recurring financial income | 75 | - | €118 | +€118 | |
| Financial charges | 65/66B | €135 | €3,390 | +€3,255 | +2,411% |
| Recurring financial charges | 65 | €135 | €3,390 | +€3,255 | +2,411% |
| Profit (loss) for the period before taxes | 9903 | -€10,512 | €2,881 | +€13,393 | |
| Profit (loss) for the period | 9904 | -€10,512 | €2,881 | +€13,393 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,512 | €2,881 | +€13,393 |
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 18 October 2026 via checked.be.