TRAMUNTANA: 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.
TRAMUNTANA
Largest movements
- Cash -€24,246
down €24,246 (-55.6%), from €43,611 to €19,364
mainly Net result for the year (-€32,281) and Debts after one year (-€13,992)
- Tangible fixed assets -€19,629
down €19,629 (-6.0%), from €328,927 to €309,298
of which Land and buildings: -€16,120
- Profit (loss) carried forward -€32,281
down €32,281 (-24.3%), from -€132,828 to -€165,109
- Debts after one year -€13,992
down €13,992 (-10.0%), from €140,599 to €126,607
- Gross operating margin -€1,488
down €1,488 (-68.2%), from -€2,181 to -€3,669
- Depreciation +€397
up €397 (+1.8%), from €22,640 to €23,037
- Financial charges -€327
down €327 (-8.4%), from €3,891 to €3,564
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 | €374,574 | €328,860 | -€45,713 | -12.2% |
| Fixed assets | 21/28 | €328,927 | €309,298 | -€19,629 | -6.0% |
| Tangible fixed assets | 22/27 | €328,927 | €309,298 | -€19,629 | -6.0% |
| Land and buildings | 22 | €299,512 | €283,391 | -€16,120 | -5.4% |
| Plant, machinery and equipment | 23 | €26,656 | €23,783 | -€2,873 | -10.8% |
| Furniture and vehicles | 24 | €2,759 | €2,124 | -€635 | -23.0% |
| Current assets | 29/58 | €45,647 | €19,562 | -€26,085 | -57.1% |
| Amounts receivable within one year | 40/41 | €1,250 | - | -€1,250 | |
| Other amounts receivable | 41 | €1,250 | - | -€1,250 | |
| Cash at bank and in hand | 54/58 | €43,611 | €19,364 | -€24,246 | -55.6% |
| Deferred charges and accrued income | 490/1 | €786 | €198 | -€588 | -74.8% |
| Total equity and liabilities | 10/49 | €374,574 | €328,860 | -€45,713 | -12.2% |
| Equity | 10/15 | €204,612 | €172,331 | -€32,281 | -15.8% |
| Contributions | 10/11 | €327,740 | €327,740 | = | 0.0% |
| Capital | 10 | €327,740 | €327,740 | = | 0.0% |
| Issued capital | 100 | €327,740 | €327,740 | = | 0.0% |
| Reserves | 13 | €9,700 | €9,700 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,700 | €9,700 | = | 0.0% |
| Legal reserve | 130 | €9,700 | €9,700 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,828 | -€165,109 | -€32,281 | -24.3% |
| Amounts payable | 17/49 | €169,962 | €156,530 | -€13,432 | -7.9% |
| Amounts payable after more than one year | 17 | €140,599 | €126,607 | -€13,992 | -10.0% |
| Financial debts | 170/4 | €140,599 | €126,607 | -€13,992 | -10.0% |
| Amounts payable within one year | 42/48 | €28,363 | €27,923 | -€440 | -1.5% |
| Current portion of amounts payable after more than one year | 42 | €13,658 | €13,992 | +€335 | +2.5% |
| Trade debts | 44 | €1,985 | €2,547 | +€562 | +28.3% |
| Suppliers | 440/4 | €1,985 | €2,547 | +€562 | +28.3% |
| Other amounts payable | 47/48 | €12,720 | €11,384 | -€1,336 | -10.5% |
| Accrued charges and deferred income | 492/3 | €1,000 | €2,000 | +€1,000 | +100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,640 | €23,037 | +€397 | +1.8% |
| Other operating charges | 640/8 | €2,030 | €2,058 | +€28 | +1.4% |
| Gross operating margin | 9900 | -€2,181 | -€3,669 | -€1,488 | -68.2% |
| Operating profit (loss) | 9901 | -€26,852 | -€28,764 | -€1,912 | -7.1% |
| Financial income | 75/76B | €81 | €46 | -€35 | -43.1% |
| Recurring financial income | 75 | €81 | €46 | -€35 | -43.1% |
| Financial charges | 65/66B | €3,891 | €3,564 | -€327 | -8.4% |
| Recurring financial charges | 65 | €3,891 | €3,564 | -€327 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | -€30,661 | -€32,281 | -€1,620 | -5.3% |
| Profit (loss) for the period | 9904 | -€30,661 | -€32,281 | -€1,620 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,661 | -€32,281 | -€1,620 | -5.3% |
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 25 October 2026 via checked.be.