TRAMARDENT: 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.
What changed
TRAMARDENT
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€232,972
2024 · €0-€232,972
Equity
€2.2m
2024 · €2.4m-€232,972
Cash
€6.3m
2024 · €10.9m-€4.6m
Balance sheet total
€502.8m
2024 · €512.4m-€9.6m
Largest movements
Assets
- Stocks and contracts -€333.0m
down €333.0m (-86.6%), from €384.5m to €51.5m
- Receivables after one year +€312.3m
new in 2025: €312.3m
- Receivables within one year +€15.7m
up €15.7m (+293%), from €5.4m to €21.1m
of which Other amounts receivable: +€9.1m
Equity and liabilities
- Advances received -€38.0m
down €38.0m (-42.6%), from €89.1m to €51.1m
- Accrued charges and deferred income +€22.6m
new in 2025: €22.6m
- Trade debts +€9.0m
up €9.0m (+92.8%), from €9.6m to €18.6m
Income statement
- Turnover +€353.1m
up €353.1m (+436,519%), from €80,895 to €353.2m
- Goods and materials -€32.8m
down €32.8m (-72.4%), from €45.3m to €12.5m
- Financial charges +€9.0m
new in 2025: €9.0m
- Financial income +€8.3m
up €8.3m (+588,779%), from €1,414 to €8.3m
of which Financial income: +€8.3m
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.
Result 2024
€0
Turnover
+€353.1m
Other operating income
+€593,514
Goods and materials
+€32.8m
Services and other goods
+€211,883
Depreciation
-€2.8m
Other operating charges
-€577,981
Other operating items
-€382.9m
Financial income
+€8.3m
Financial charges
-€9.0m
Taxes
-€27,229
Result 2025
-€232,972
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€188,549
Investment
-€1.8m
Financing
-€2.9m
Cash 2024
€10.9m
From operations (derived)
+€188,549
Net result for the year
-€232,972
Depreciation
+€2.8m
Receivables after one year
-€312.3m
Stocks and contracts
+€333.0m
Receivables within one year
-€15.7m
Deferred charges and accrued income
-€974,937
Trade debts
+€9.0m
Advances received
-€38.0m
Accrued charges and deferred income
+€22.6m
Investment (derived)
-€1.8m
Investment in fixed assets (net)
-€1.8m
Financing
-€2.9m
Debts after one year
-€3.2m
Current portion of long-term debt
+€285,792
Cash 2025
€6.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €512,447,215 | €502,848,211 | -€9.6m | -1.9% |
| Fixed assets | 21/28 | €111,665,813 | €110,663,309 | -€1.0m | -0.9% |
| Tangible fixed assets | 22/27 | €111,665,813 | €110,663,309 | -€1.0m | -0.9% |
| Furniture and vehicles | 24 | - | €110,663,309 | +€110.7m | |
| Assets under construction and advance payments | 27 | €111,665,813 | €0 | -€111.7m | -100% |
| Current assets | 29/58 | €400,781,402 | €392,184,902 | -€8.6m | -2.1% |
| Amounts receivable after more than one year | 29 | - | €312,278,486 | +€312.3m | |
| Trade receivables | 290 | - | €312,278,486 | +€312.3m | |
| Stocks and contracts in progress | 3 | €384,517,521 | €51,519,509 | -€333.0m | -86.6% |
| Contracts in progress | 37 | €384,517,521 | €51,519,509 | -€333.0m | -86.6% |
| Amounts receivable within one year | 40/41 | €5,359,612 | €21,081,549 | +€15.7m | +293% |
| Trade receivables | 40 | €5,267,868 | €11,923,169 | +€6.7m | +126% |
| Other amounts receivable | 41 | €91,744 | €9,158,380 | +€9.1m | +9,883% |
| Cash at bank and in hand | 54/58 | €10,904,269 | €6,330,421 | -€4.6m | -41.9% |
| Deferred charges and accrued income | 490/1 | - | €974,937 | +€974,937 | |
| Total equity and liabilities | 10/49 | €512,447,215 | €502,848,211 | -€9.6m | -1.9% |
| Equity | 10/15 | €2,411,500 | €2,178,528 | -€232,972 | -9.7% |
| Contributions | 10/11 | €2,411,500 | €2,411,500 | = | 0.0% |
| Capital | 10 | €2,411,500 | €2,411,500 | = | 0.0% |
| Issued capital | 100 | €2,411,500 | €2,411,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€232,972 | -€232,972 | |
| Amounts payable | 17/49 | €510,035,715 | €500,669,683 | -€9.4m | -1.8% |
| Amounts payable after more than one year | 17 | €400,063,847 | €396,855,140 | -€3.2m | -0.8% |
| Financial debts | 170/4 | €400,063,847 | €396,855,140 | -€3.2m | -0.8% |
| Subordinated loans | 170 | €43,165,829 | €51,473,013 | +€8.3m | +19.2% |
| Credit institutions | 173 | €356,898,018 | €345,382,127 | -€11.5m | -3.2% |
| Amounts payable within one year | 42/48 | €109,971,868 | €81,243,974 | -€28.7m | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €11,230,098 | €11,515,890 | +€285,792 | +2.5% |
| Trade debts | 44 | €9,649,762 | €18,606,942 | +€9.0m | +92.8% |
| Suppliers | 440/4 | €9,649,762 | €18,606,942 | +€9.0m | +92.8% |
| Advances received on contracts in progress | 46 | €89,092,008 | €51,121,142 | -€38.0m | -42.6% |
| Accrued charges and deferred income | 492/3 | - | €22,570,569 | +€22.6m | |
| Operating income | 70/76A | €47,084,774 | €17,922,180 | -€29.2m | -61.9% |
| Turnover | 70 | €80,895 | €353,203,069 | +€353.1m | +436,519% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €47,003,879 | -€335,874,403 | -€382.9m | |
| Other operating income | 74 | - | €593,514 | +€593,514 | |
| Operating charges | 60/66A | €47,086,188 | €17,499,211 | -€29.6m | -62.8% |
| Goods for resale, raw materials and consumables | 60 | €45,294,470 | €12,499,409 | -€32.8m | -72.4% |
| Purchases | 600/8 | €45,294,470 | €12,499,409 | -€32.8m | -72.4% |
| Services and other goods | 61 | €1,790,732 | €1,578,849 | -€211,883 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,841,986 | +€2.8m | |
| Other operating charges | 640/8 | €986 | €578,967 | +€577,981 | +58,619% |
| Operating profit (loss) | 9901 | -€1,414 | €422,969 | +€424,383 | |
| Financial income | 75/76B | €1,414 | €8,326,744 | +€8.3m | +588,779% |
| Recurring financial income | 75 | €1,414 | €8,311,099 | +€8.3m | +587,672% |
| Income from current assets | 751 | - | €8,311,099 | +€8.3m | |
| Other financial income | 752/9 | €1,414 | - | -€1,414 | |
| Non-recurring financial income | 76B | - | €15,645 | +€15,645 | |
| Financial charges | 65/66B | - | €8,955,456 | +€9.0m | |
| Recurring financial charges | 65 | - | €8,955,456 | +€9.0m | |
| Debt charges | 650 | - | €8,902,289 | +€8.9m | |
| Other financial charges | 652/9 | - | €53,167 | +€53,167 | |
| Profit (loss) for the period before taxes | 9903 | €0 | -€205,743 | -€205,743 | |
| Income taxes | 67/77 | - | €27,229 | +€27,229 | |
| Taxes | 670/3 | - | €27,229 | +€27,229 | |
| Profit (loss) for the period | 9904 | €0 | -€232,972 | -€232,972 | |
| Profit (loss) for the period to be appropriated | 9905 | €0 | -€232,972 | -€232,972 |
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 15 October 2026 via checked.be.