TRAINX: 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.
TRAINX
Largest movements
- Cash +€61,892
up €61,892 (+472.4%), from €13,101 to €74,993
mainly Current investments (+€53,616) and Net result for the year (+€28,264)
- Current investments -€53,616
down €53,616 (-100.0%), from €53,616 to €0
- Tangible fixed assets -€9,473
down €9,473 (-38.5%), from €24,594 to €15,121
of which Furniture and vehicles: -€9,385
- Receivables within one year -€2,569
down €2,569 (-50.2%), from €5,118 to €2,548
of which Other amounts receivable: -€3,700
- Reserves -€16,736
down €16,736 (-36.4%), from €45,943 to €29,208
- Other debts +€8,900
up €8,900 (+37.9%), from €23,500 to €32,400
- Tax, wage and social debts +€3,590
up €3,590 (+32.6%), from €11,017 to €14,607
of which Taxes: +€4,758
- Gross operating margin +€6,672
up €6,672 (+14.3%), from €46,735 to €53,407
- Taxes +€4,066
up €4,066 (+44.7%), from €9,094 to €13,160
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 | €99,441 | €96,203 | -€3,237 | -3.3% |
| Fixed assets | 21/28 | €24,690 | €15,217 | -€9,473 | -38.4% |
| Tangible fixed assets | 22/27 | €24,594 | €15,121 | -€9,473 | -38.5% |
| Plant, machinery and equipment | 23 | €872 | €784 | -€88 | -10.1% |
| Furniture and vehicles | 24 | €23,722 | €14,337 | -€9,385 | -39.6% |
| Financial fixed assets | 28 | €96 | €96 | = | 0.0% |
| Current assets | 29/58 | €74,751 | €80,986 | +€6,235 | +8.3% |
| Amounts receivable within one year | 40/41 | €5,118 | €2,548 | -€2,569 | -50.2% |
| Trade receivables | 40 | €1,405 | €2,535 | +€1,131 | +80.5% |
| Other amounts receivable | 41 | €3,713 | €13 | -€3,700 | -99.6% |
| Current investments | 50/53 | €53,616 | €0 | -€53,616 | -100.0% |
| Cash at bank and in hand | 54/58 | €13,101 | €74,993 | +€61,892 | +472.4% |
| Deferred charges and accrued income | 490/1 | €2,916 | €3,445 | +€529 | +18.1% |
| Total equity and liabilities | 10/49 | €99,441 | €96,203 | -€3,237 | -3.3% |
| Equity | 10/15 | €64,543 | €47,808 | -€16,736 | -25.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,943 | €29,208 | -€16,736 | -36.4% |
| Distributable reserves | 133 | €45,943 | €29,208 | -€16,736 | -36.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €34,897 | €48,396 | +€13,499 | +38.7% |
| Amounts payable within one year | 42/48 | €34,897 | €48,396 | +€13,499 | +38.7% |
| Financial debts | 43 | €134 | €192 | +€57 | +42.7% |
| Credit institutions | 430/8 | €134 | €0 | -€134 | -100.0% |
| Other loans | 439 | - | €192 | +€192 | |
| Trade debts | 44 | €246 | €1,197 | +€951 | +386.7% |
| Suppliers | 440/4 | €246 | €1,197 | +€951 | +386.7% |
| Taxes, remuneration and social security | 45 | €11,017 | €14,607 | +€3,590 | +32.6% |
| Taxes | 450/3 | €8,306 | €13,064 | +€4,758 | +57.3% |
| Remuneration and social security | 454/9 | €2,711 | €1,543 | -€1,168 | -43.1% |
| Other amounts payable | 47/48 | €23,500 | €32,400 | +€8,900 | +37.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,600 | €11,692 | +€91 | +0.8% |
| Other operating charges | 640/8 | €536 | €548 | +€12 | +2.3% |
| Gross operating margin | 9900 | €46,735 | €53,407 | +€6,672 | +14.3% |
| Operating profit (loss) | 9901 | €34,599 | €41,167 | +€6,568 | +19.0% |
| Financial income | 75/76B | €356 | €332 | -€23 | -6.5% |
| Recurring financial income | 75 | €356 | €332 | -€23 | -6.5% |
| Financial charges | 65/66B | €77 | €75 | -€1 | -1.9% |
| Recurring financial charges | 65 | €77 | €75 | -€1 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €34,878 | €41,424 | +€6,547 | +18.8% |
| Income taxes | 67/77 | €9,094 | €13,160 | +€4,066 | +44.7% |
| Profit (loss) for the period | 9904 | €25,784 | €28,264 | +€2,480 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,784 | €28,264 | +€2,480 | +9.6% |
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 7 October 2026 via checked.be.