TRAKKS: 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.
TRAKKS
Largest movements
- Stocks and contracts +€135,274
up €135,274 (+10.6%), from €1.3m to €1.4m
- Tangible fixed assets +€70,137
up €70,137 (+18.9%), from €370,468 to €440,605
of which Assets under construction and advance payments: +€74,032
- Receivables within one year +€24,146
up €24,146 (+34.6%), from €69,740 to €93,886
of which Other amounts receivable: +€30,765
- Debts after one year -€467,496
down €467,496 (-68.0%), from €687,499 to €220,003
- Profit (loss) carried forward +€356,541
up €356,541 (+106.1%), from €336,068 to €692,609
- Trade debts +€143,063
up €143,063 (+41.3%), from €346,205 to €489,267
- Tax, wage and social debts +€115,496
up €115,496 (+36.0%), from €320,484 to €435,980
of which Taxes: +€66,774
- Other debts +€73,710
up €73,710 (+50.1%), from €147,000 to €220,710
- Gross operating margin +€357,917
up €357,917 (+22.0%), from €1.6m to €2.0m
- Staff costs +€235,608
up €235,608 (+26.1%), from €901,671 to €1.1m
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 | €2,168,340 | €2,407,555 | +€239,215 | +11.0% |
| Fixed assets | 21/28 | €424,108 | €496,128 | +€72,019 | +17.0% |
| Intangible fixed assets | 21 | €34,685 | €18,415 | -€16,270 | -46.9% |
| Tangible fixed assets | 22/27 | €370,468 | €440,605 | +€70,137 | +18.9% |
| Plant, machinery and equipment | 23 | €8,808 | €14,662 | +€5,854 | +66.5% |
| Furniture and vehicles | 24 | €4,418 | €13,049 | +€8,631 | +195.3% |
| Other tangible fixed assets | 26 | €357,242 | €338,861 | -€18,381 | -5.1% |
| Assets under construction and advance payments | 27 | - | €74,032 | +€74,032 | |
| Financial fixed assets | 28 | €18,955 | €37,108 | +€18,153 | +95.8% |
| Current assets | 29/58 | €1,744,232 | €1,911,428 | +€167,196 | +9.6% |
| Stocks and contracts in progress | 3 | €1,274,377 | €1,409,651 | +€135,274 | +10.6% |
| Stocks | 30/36 | €1,274,377 | €1,409,651 | +€135,274 | +10.6% |
| Amounts receivable within one year | 40/41 | €69,740 | €93,886 | +€24,146 | +34.6% |
| Trade receivables | 40 | €19,945 | €13,326 | -€6,619 | -33.2% |
| Other amounts receivable | 41 | €49,795 | €80,560 | +€30,765 | +61.8% |
| Cash at bank and in hand | 54/58 | €354,531 | €356,221 | +€1,690 | +0.5% |
| Deferred charges and accrued income | 490/1 | €45,584 | €51,670 | +€6,086 | +13.4% |
| Total equity and liabilities | 10/49 | €2,168,340 | €2,407,555 | +€239,215 | +11.0% |
| Equity | 10/15 | €443,227 | €799,768 | +€356,541 | +80.4% |
| Contributions | 10/11 | €105,000 | €107,159 | +€2,159 | +2.1% |
| Reserves | 13 | €2,159 | €0 | -€2,159 | -100.0% |
| Distributable reserves | 133 | €2,159 | €0 | -€2,159 | -100.0% |
| Profit (loss) carried forward | 14 | €336,068 | €692,609 | +€356,541 | +106.1% |
| Amounts payable | 17/49 | €1,725,114 | €1,607,788 | -€117,326 | -6.8% |
| Amounts payable after more than one year | 17 | €687,499 | €220,003 | -€467,496 | -68.0% |
| Financial debts | 170/4 | €687,499 | €220,003 | -€467,496 | -68.0% |
| Amounts payable within one year | 42/48 | €1,012,481 | €1,387,785 | +€375,304 | +37.1% |
| Current portion of amounts payable after more than one year | 42 | €198,793 | €241,828 | +€43,035 | +21.6% |
| Trade debts | 44 | €346,205 | €489,267 | +€143,063 | +41.3% |
| Suppliers | 440/4 | €346,205 | €489,267 | +€143,063 | +41.3% |
| Taxes, remuneration and social security | 45 | €320,484 | €435,980 | +€115,496 | +36.0% |
| Taxes | 450/3 | €145,293 | €212,067 | +€66,774 | +46.0% |
| Remuneration and social security | 454/9 | €175,190 | €223,912 | +€48,722 | +27.8% |
| Other amounts payable | 47/48 | €147,000 | €220,710 | +€73,710 | +50.1% |
| Accrued charges and deferred income | 492/3 | €25,134 | - | -€25,134 | |
| Remuneration, social security and pensions | 62 | €901,671 | €1,137,279 | +€235,608 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,986 | €87,726 | -€15,260 | -14.8% |
| Other operating charges | 640/8 | €17,779 | €9,563 | -€8,217 | -46.2% |
| Non-recurring operating charges | 66A | €1,250 | - | -€1,250 | |
| Gross operating margin | 9900 | €1,623,899 | €1,981,816 | +€357,917 | +22.0% |
| Operating profit (loss) | 9901 | €600,213 | €747,249 | +€147,036 | +24.5% |
| Financial income | 75/76B | €5,248 | €2,398 | -€2,850 | -54.3% |
| Recurring financial income | 75 | €5,248 | €2,398 | -€2,850 | -54.3% |
| Financial charges | 65/66B | €84,706 | €76,193 | -€8,512 | -10.0% |
| Recurring financial charges | 65 | €84,706 | €76,193 | -€8,512 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €520,755 | €673,454 | +€152,699 | +29.3% |
| Income taxes | 67/77 | €1,055 | €1,613 | +€558 | +52.9% |
| Profit (loss) for the period | 9904 | €519,700 | €671,841 | +€152,141 | +29.3% |
| Profit (loss) for the period to be appropriated | 9905 | €519,700 | €671,841 | +€152,141 | +29.3% |
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.