TRAMONTANA: 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.
TRAMONTANA
Largest movements
- Receivables within one year +€148,349
up €148,349 (+95.3%), from €155,743 to €304,092
of which Other amounts receivable: +€103,472
- Current investments -€75,000
down €75,000 (-75.0%), from €100,000 to €25,000
- Cash -€50,173
down €50,173 (-43.7%), from €114,828 to €64,656
mainly Receivables within one year (-€148,349) and Contributions, distributions and other (-€66,617)
- Tangible fixed assets -€11,518
down €11,518 (-23.7%), from €48,578 to €37,060
of which Furniture and vehicles: -€10,944
- Other debts +€107,744
up €107,744 (+115%), from €93,533 to €201,276
- Reserves -€49,714
down €49,714 (-30.2%), from €164,813 to €115,099
of which Distributable reserves: -€49,714
- Trade debts -€18,391
down €18,391 (-26.5%), from €69,277 to €50,886
- Advances received -€16,085
down €16,085 (-50.7%), from €31,747 to €15,662
- Tax, wage and social debts -€10,813
down €10,813 (-37.1%), from €29,109 to €18,297
of which Remuneration and social security: -€7,566
- Gross operating margin +€12,185
up €12,185 (+8.5%), from €143,815 to €155,999
- Staff costs +€6,240
up €6,240 (+5.5%), from €113,824 to €120,064
- Other operating charges +€5,544
up €5,544 (+600%), from €924 to €6,468
- Write-downs -€5,500
new in 2025: -€5,500
- Taxes +€5,117
up €5,117 (+195%), from €2,624 to €7,741
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 | €419,466 | €432,207 | +€12,741 | +3.0% |
| Fixed assets | 21/28 | €48,628 | €37,110 | -€11,518 | -23.7% |
| Tangible fixed assets | 22/27 | €48,578 | €37,060 | -€11,518 | -23.7% |
| Plant, machinery and equipment | 23 | €2,575 | €2,001 | -€574 | -22.3% |
| Furniture and vehicles | 24 | €46,003 | €35,059 | -€10,944 | -23.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €370,838 | €395,097 | +€24,259 | +6.5% |
| Amounts receivable within one year | 40/41 | €155,743 | €304,092 | +€148,349 | +95.3% |
| Trade receivables | 40 | €146,914 | €191,792 | +€44,877 | +30.5% |
| Other amounts receivable | 41 | €8,829 | €112,301 | +€103,472 | +1,172% |
| Current investments | 50/53 | €100,000 | €25,000 | -€75,000 | -75.0% |
| Cash at bank and in hand | 54/58 | €114,828 | €64,656 | -€50,173 | -43.7% |
| Deferred charges and accrued income | 490/1 | €267 | €1,349 | +€1,083 | +406% |
| Total equity and liabilities | 10/49 | €419,466 | €432,207 | +€12,741 | +3.0% |
| Equity | 10/15 | €195,800 | €146,086 | -€49,714 | -25.4% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €164,813 | €115,099 | -€49,714 | -30.2% |
| Tax-exempt reserves | 132 | €6,578 | €6,578 | = | 0.0% |
| Distributable reserves | 133 | €158,235 | €108,522 | -€49,714 | -31.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €223,666 | €286,121 | +€62,455 | +27.9% |
| Amounts payable within one year | 42/48 | €223,666 | €286,121 | +€62,455 | +27.9% |
| Trade debts | 44 | €69,277 | €50,886 | -€18,391 | -26.5% |
| Suppliers | 440/4 | €69,277 | €50,886 | -€18,391 | -26.5% |
| Advances received on contracts in progress | 46 | €31,747 | €15,662 | -€16,085 | -50.7% |
| Taxes, remuneration and social security | 45 | €29,109 | €18,297 | -€10,813 | -37.1% |
| Taxes | 450/3 | €5,703 | €2,457 | -€3,246 | -56.9% |
| Remuneration and social security | 454/9 | €23,406 | €15,840 | -€7,566 | -32.3% |
| Other amounts payable | 47/48 | €93,533 | €201,276 | +€107,744 | +115% |
| Non-recurring operating income | 76A | €12,500 | €0 | -€12,500 | -100% |
| Remuneration, social security and pensions | 62 | €113,824 | €120,064 | +€6,240 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,709 | €11,518 | +€2,809 | +32.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€5,500 | -€5,500 | |
| Other operating charges | 640/8 | €924 | €6,468 | +€5,544 | +600% |
| Gross operating margin | 9900 | €143,815 | €155,999 | +€12,185 | +8.5% |
| Operating profit (loss) | 9901 | €20,358 | €23,449 | +€3,092 | +15.2% |
| Financial income | 75/76B | €1,714 | €3,478 | +€1,763 | +103% |
| Recurring financial income | 75 | €1,714 | €3,478 | +€1,763 | +103% |
| Financial charges | 65/66B | €1,953 | €2,282 | +€329 | +16.8% |
| Recurring financial charges | 65 | €1,953 | €2,282 | +€329 | +16.8% |
| Profit (loss) for the period before taxes | 9903 | €20,119 | €24,645 | +€4,526 | +22.5% |
| Income taxes | 67/77 | €2,624 | €7,741 | +€5,117 | +195% |
| Profit (loss) for the period | 9904 | €17,494 | €16,903 | -€591 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,494 | €16,903 | -€591 | -3.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.