TRAMOTRANS: 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.
TRAMOTRANS
Largest movements
- Receivables within one year +€715,486
up €715,486 (+17.1%), from €4.2m to €4.9m
of which Trade receivables: +€674,044
- Tangible fixed assets +€614,935
up €614,935 (+17.5%), from €3.5m to €4.1m
of which Leasing and similar rights: +€426,738
- Stocks and contracts -€163,803
down €163,803 (-29.9%), from €547,261 to €383,458
- Reserves +€297,500
up €297,500 (+44.4%), from €669,837 to €967,337
of which Tax-exempt reserves: +€297,500
- Current portion of long-term debt +€243,637
up €243,637 (+25.1%), from €970,182 to €1.2m
- Debts after one year +€215,541
up €215,541 (+8.6%), from €2.5m to €2.7m
- Trade debts +€213,281
up €213,281 (+11.8%), from €1.8m to €2.0m
- Profit (loss) carried forward +€115,874
up €115,874 (+6.7%), from €1.7m to €1.9m
- Gross operating margin +€1.1m
up €1.1m (+14.6%), from €7.5m to €8.6m
- Staff costs +€594,828
up €594,828 (+10.3%), from €5.7m to €6.3m
- Depreciation +€172,390
up €172,390 (+17.7%), from €975,925 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.
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 | €8,433,852 | €9,623,460 | +€1.2m | +14.1% |
| Fixed assets | 21/28 | €3,527,823 | €4,143,333 | +€615,510 | +17.4% |
| Tangible fixed assets | 22/27 | €3,515,538 | €4,130,473 | +€614,935 | +17.5% |
| Furniture and vehicles | 24 | €83,649 | €67,847 | -€15,803 | -18.9% |
| Leasing and similar rights | 25 | €3,431,888 | €3,858,626 | +€426,738 | +12.4% |
| Assets under construction and advance payments | 27 | - | €204,000 | +€204,000 | |
| Financial fixed assets | 28 | €12,285 | €12,860 | +€575 | +4.7% |
| Current assets | 29/58 | €4,906,030 | €5,480,128 | +€574,098 | +11.7% |
| Stocks and contracts in progress | 3 | €547,261 | €383,458 | -€163,803 | -29.9% |
| Stocks | 30/36 | €547,261 | €383,458 | -€163,803 | -29.9% |
| Amounts receivable within one year | 40/41 | €4,174,846 | €4,890,332 | +€715,486 | +17.1% |
| Trade receivables | 40 | €3,069,625 | €3,743,669 | +€674,044 | +22.0% |
| Other amounts receivable | 41 | €1,105,221 | €1,146,662 | +€41,441 | +3.7% |
| Cash at bank and in hand | 54/58 | €183,922 | €206,338 | +€22,415 | +12.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €8,433,852 | €9,623,460 | +€1.2m | +14.1% |
| Equity | 10/15 | €2,534,861 | €2,948,236 | +€413,374 | +16.3% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €669,837 | €967,337 | +€297,500 | +44.4% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €472,487 | €769,987 | +€297,500 | +63.0% |
| Distributable reserves | 133 | €184,950 | €184,950 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,741,025 | €1,856,899 | +€115,874 | +6.7% |
| Amounts payable | 17/49 | €5,898,991 | €6,675,224 | +€776,233 | +13.2% |
| Amounts payable after more than one year | 17 | €2,496,069 | €2,711,610 | +€215,541 | +8.6% |
| Financial debts | 170/4 | €2,496,069 | €2,711,610 | +€215,541 | +8.6% |
| Amounts payable within one year | 42/48 | €3,402,532 | €3,963,569 | +€561,037 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €970,182 | €1,213,819 | +€243,637 | +25.1% |
| Trade debts | 44 | €1,805,212 | €2,018,493 | +€213,281 | +11.8% |
| Suppliers | 440/4 | €1,805,212 | €2,018,493 | +€213,281 | +11.8% |
| Taxes, remuneration and social security | 45 | €627,138 | €731,257 | +€104,119 | +16.6% |
| Taxes | 450/3 | €104,105 | €156,672 | +€52,567 | +50.5% |
| Remuneration and social security | 454/9 | €523,033 | €574,585 | +€51,552 | +9.9% |
| Accrued charges and deferred income | 492/3 | €390 | €45 | -€345 | -88.5% |
| Non-recurring operating income | 76A | €32,000 | €297,500 | +€265,500 | +830% |
| Remuneration, social security and pensions | 62 | €5,749,044 | €6,343,873 | +€594,828 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €975,925 | €1,148,315 | +€172,390 | +17.7% |
| Other operating charges | 640/8 | €559,109 | €593,394 | +€34,285 | +6.1% |
| Gross operating margin | 9900 | €7,508,725 | €8,606,027 | +€1.1m | +14.6% |
| Operating profit (loss) | 9901 | €224,647 | €520,446 | +€295,799 | +132% |
| Financial income | 75/76B | €31,026 | €67,467 | +€36,441 | +117% |
| Recurring financial income | 75 | €31,026 | €67,467 | +€36,441 | +117% |
| Financial charges | 65/66B | €115,809 | €138,546 | +€22,738 | +19.6% |
| Recurring financial charges | 65 | €115,809 | €138,546 | +€22,738 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | €139,865 | €449,367 | +€309,502 | +221% |
| Income taxes | 67/77 | €31,537 | €35,993 | +€4,455 | +14.1% |
| Profit (loss) for the period | 9904 | €108,328 | €413,374 | +€305,046 | +282% |
| Transfer to tax-exempt reserves | 689 | €32,000 | €297,500 | +€265,500 | +830% |
| Profit (loss) for the period to be appropriated | 9905 | €76,328 | €115,874 | +€39,546 | +51.8% |
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 20 October 2026 via checked.be.