TRAIVRAY: 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.
TRAIVRAY
Largest movements
- Receivables within one year +€107,594
up €107,594 (+71.1%), from €151,285 to €258,878
of which Trade receivables: +€111,586
- Cash -€76,919
down €76,919 (-95.9%), from €80,171 to €3,252
mainly Receivables within one year (-€107,594) and Current portion of long-term debt (-€77,086)
- Tangible fixed assets -€66,948
down €66,948 (-16.1%), from €416,136 to €349,189
of which Furniture and vehicles: -€53,000
- Deferred charges and accrued income +€8,988
up €8,988 (+720.2%), from €1,248 to €10,236
- Current portion of long-term debt -€77,086
down €77,086 (-62.0%), from €124,388 to €47,302
- Debts after one year +€37,515
up €37,515 (+21.4%), from €175,553 to €213,068
- Accrued charges and deferred income -€26,780
down €26,780 (-15.3%), from €174,530 to €147,750
- Profit (loss) carried forward +€25,122
up €25,122 (+12.4%), from -€202,194 to -€177,072
- Other debts +€22,159
up €22,159 (+54686.9%), from €41 to €22,200
- Staff costs -€124,066
down €124,066 (-25.7%), from €483,317 to €359,251
- Gross operating margin +€47,807
up €47,807 (+10.6%), from €449,372 to €497,179
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 | €667,805 | €641,270 | -€26,535 | -4.0% |
| Fixed assets | 21/28 | €417,501 | €350,553 | -€66,948 | -16.0% |
| Tangible fixed assets | 22/27 | €416,136 | €349,189 | -€66,948 | -16.1% |
| Plant, machinery and equipment | 23 | €198,029 | €187,877 | -€10,152 | -5.1% |
| Furniture and vehicles | 24 | €79,966 | €26,966 | -€53,000 | -66.3% |
| Other tangible fixed assets | 26 | €138,141 | €134,345 | -€3,796 | -2.7% |
| Financial fixed assets | 28 | €1,364 | €1,364 | = | 0.0% |
| Current assets | 29/58 | €250,305 | €290,717 | +€40,412 | +16.1% |
| Stocks and contracts in progress | 3 | €17,601 | €18,350 | +€750 | +4.3% |
| Stocks | 30/36 | €17,601 | €18,350 | +€750 | +4.3% |
| Amounts receivable within one year | 40/41 | €151,285 | €258,878 | +€107,594 | +71.1% |
| Trade receivables | 40 | €123,279 | €234,865 | +€111,586 | +90.5% |
| Other amounts receivable | 41 | €28,006 | €24,013 | -€3,993 | -14.3% |
| Cash at bank and in hand | 54/58 | €80,171 | €3,252 | -€76,919 | -95.9% |
| Deferred charges and accrued income | 490/1 | €1,248 | €10,236 | +€8,988 | +720.2% |
| Total equity and liabilities | 10/49 | €667,805 | €641,270 | -€26,535 | -4.0% |
| Equity | 10/15 | -€156,588 | -€131,466 | +€25,122 | +16.0% |
| Contributions | 10/11 | €43,592 | €43,592 | = | 0.0% |
| Reserves | 13 | €2,014 | €2,014 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,014 | €2,014 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,014 | €2,014 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€202,194 | -€177,072 | +€25,122 | +12.4% |
| Amounts payable | 17/49 | €824,393 | €772,736 | -€51,657 | -6.3% |
| Amounts payable after more than one year | 17 | €175,553 | €213,068 | +€37,515 | +21.4% |
| Financial debts | 170/4 | €175,553 | €213,068 | +€37,515 | +21.4% |
| Amounts payable within one year | 42/48 | €474,310 | €411,918 | -€62,392 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €124,388 | €47,302 | -€77,086 | -62.0% |
| Financial debts | 43 | €0 | €1,320 | +€1,320 | |
| Credit institutions | 430/8 | €0 | €1,320 | +€1,320 | |
| Trade debts | 44 | €280,382 | €272,593 | -€7,789 | -2.8% |
| Suppliers | 440/4 | €280,382 | €272,593 | -€7,789 | -2.8% |
| Taxes, remuneration and social security | 45 | €69,500 | €68,503 | -€997 | -1.4% |
| Taxes | 450/3 | €11,905 | €21,034 | +€9,129 | +76.7% |
| Remuneration and social security | 454/9 | €57,594 | €47,469 | -€10,126 | -17.6% |
| Other amounts payable | 47/48 | €41 | €22,200 | +€22,159 | +54686.9% |
| Accrued charges and deferred income | 492/3 | €174,530 | €147,750 | -€26,780 | -15.3% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Remuneration, social security and pensions | 62 | €483,317 | €359,251 | -€124,066 | -25.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,190 | €97,100 | -€91 | -0.1% |
| Other operating charges | 640/8 | €4,497 | €3,743 | -€754 | -16.8% |
| Non-recurring operating charges | 66A | - | €654 | +€654 | |
| Gross operating margin | 9900 | €449,372 | €497,179 | +€47,807 | +10.6% |
| Operating profit (loss) | 9901 | -€135,633 | €36,431 | +€172,063 | |
| Financial income | 75/76B | €230 | €989 | +€759 | +329.6% |
| Recurring financial income | 75 | €230 | €989 | +€759 | +329.6% |
| Financial charges | 65/66B | €14,258 | €11,869 | -€2,389 | -16.8% |
| Recurring financial charges | 65 | €14,258 | €11,869 | -€2,389 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | -€149,661 | €25,551 | +€175,211 | |
| Income taxes | 67/77 | €354 | €429 | +€75 | +21.1% |
| Profit (loss) for the period | 9904 | -€150,015 | €25,122 | +€175,137 | |
| Profit (loss) for the period to be appropriated | 9905 | -€150,015 | €25,122 | +€175,137 |
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 8 October 2026 via checked.be.