TRANE: 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.
What changed
TRANE
NACE 46.647, Wholesale trade
fiscal year 2021 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
€8.6m
2021 · €12.6m-€4.0m
Equity
€333.4m
2021 · €258.8m+€74.6m
Cash
€8.5m
2021 · €6.4m+€2.1m
Balance sheet total
€405.6m
2021 · €329.5m+€76.1m
Largest movements
Assets
- Receivables within one year +€57.3m
up €57.3m (+81.3%), from €70.5m to €127.7m
of which Trade receivables: +€52.9m
- Tangible fixed assets +€9.9m
up €9.9m (+245.3%), from €4.0m to €13.9m
of which Plant, machinery and equipment: +€9.7m
- Stocks and contracts +€6.8m
up €6.8m (+120.7%), from €5.6m to €12.4m
Equity and liabilities
- Profit (loss) carried forward +€74.6m
up €74.6m (+36.9%), from -€202.1m to -€127.5m
- Short-term financial debts -€43.7m
down €43.7m (-93.1%), from €46.9m to €3.2m
- Trade debts +€27.8m
up €27.8m (+246.7%), from €11.3m to €39.0m
- Provisions +€11.1m
new in 2025: €11.1m
- Accrued charges and deferred income +€5.9m
up €5.9m (+122.2%), from €4.8m to €10.7m
Income statement
- Turnover +€94.6m
up €94.6m (+143.7%), from €65.8m to €160.3m
- Goods and materials +€73.8m
up €73.8m (+169.4%), from €43.5m to €117.3m
- Other operating income +€8.1m
up €8.1m (+47.1%), from €17.1m to €25.2m
- Staff costs +€8.0m
up €8.0m (+42.2%), from €19.1m to €27.1m
- Financial charges +€7.2m
up €7.2m (+2478.7%), from €290,018 to €7.5m
From the 2021 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 2021
€12.6m
Turnover
+€94.6m
Other operating income
+€8.1m
Goods and materials
-€73.8m
Services and other goods
-€3.3m
Staff costs
-€8.0m
Depreciation
-€1.1m
Write-downs
+€183,779
Provisions
-€3.0m
Other operating items
-€7.2m
Financial income
-€1.9m
Financial charges
-€7.2m
Taxes
-€1.2m
Result 2025
€8.6m
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2021 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €329,529,658 | €405,617,347 | +€76.1m | +23.1% |
| Fixed assets | 21/28 | €245,264,148 | €255,133,775 | +€9.9m | +4.0% |
| Tangible fixed assets | 22/27 | €4,023,316 | €13,892,943 | +€9.9m | +245.3% |
| Plant, machinery and equipment | 23 | €3,927,721 | €13,624,014 | +€9.7m | +246.9% |
| Furniture and vehicles | 24 | €95,595 | €268,929 | +€173,334 | +181.3% |
| Financial fixed assets | 28 | €241,240,832 | €241,240,832 | = | 0.0% |
| Affiliated companies | 280/1 | €241,240,832 | €241,240,832 | = | 0.0% |
| Participating interests | 280 | €241,240,832 | €241,240,832 | = | 0.0% |
| Current assets | 29/58 | €84,265,510 | €150,483,572 | +€66.2m | +78.6% |
| Stocks and contracts in progress | 3 | €5,632,193 | €12,432,240 | +€6.8m | +120.7% |
| Stocks | 30/36 | €5,632,193 | €12,432,240 | +€6.8m | +120.7% |
| Work in progress | 32 | - | €1,114,485 | +€1.1m | |
| Finished goods | 33 | €5,632,193 | €11,317,755 | +€5.7m | +100.9% |
| Amounts receivable within one year | 40/41 | €70,462,332 | €127,748,977 | +€57.3m | +81.3% |
| Trade receivables | 40 | €28,791,077 | €81,732,785 | +€52.9m | +183.9% |
| Other amounts receivable | 41 | €41,671,255 | €46,016,192 | +€4.3m | +10.4% |
| Cash at bank and in hand | 54/58 | €6,393,040 | €8,492,222 | +€2.1m | +32.8% |
| Deferred charges and accrued income | 490/1 | €1,777,945 | €1,810,133 | +€32,188 | +1.8% |
| Total equity and liabilities | 10/49 | €329,529,658 | €405,617,347 | +€76.1m | +23.1% |
| Equity | 10/15 | €258,827,515 | €333,383,335 | +€74.6m | +28.8% |
| Contributions | 10/11 | €460,928,550 | €460,928,550 | = | 0.0% |
| Capital | 10 | €460,928,550 | - | -€460.9m | |
| Issued capital | 100 | €460,928,550 | - | -€460.9m | |
| Profit (loss) carried forward | 14 | -€202,101,035 | -€127,545,215 | +€74.6m | +36.9% |
| Provisions and deferred taxes | 16 | - | €11,103,340 | +€11.1m | |
| Provisions for liabilities and charges | 160/5 | - | €11,103,340 | +€11.1m | |
| Pensions and similar obligations | 160 | - | €8,007,194 | +€8.0m | |
| Other liabilities and charges | 164/5 | - | €3,096,146 | +€3.1m | |
| Amounts payable | 17/49 | €70,702,143 | €61,130,672 | -€9.6m | -13.5% |
| Amounts payable within one year | 42/48 | €65,883,510 | €50,425,389 | -€15.5m | -23.5% |
| Financial debts | 43 | €46,918,124 | €3,220,111 | -€43.7m | -93.1% |
| Other loans | 439 | €46,918,124 | €3,220,111 | -€43.7m | -93.1% |
| Trade debts | 44 | €11,262,963 | €39,048,017 | +€27.8m | +246.7% |
| Suppliers | 440/4 | €11,262,963 | €39,048,017 | +€27.8m | +246.7% |
| Taxes, remuneration and social security | 45 | €7,702,423 | €8,157,261 | +€454,838 | +5.9% |
| Taxes | 450/3 | €402,156 | €5,748,569 | +€5.3m | +1329.4% |
| Remuneration and social security | 454/9 | €7,300,267 | €2,408,692 | -€4.9m | -67.0% |
| Accrued charges and deferred income | 492/3 | €4,818,633 | €10,705,283 | +€5.9m | +122.2% |
| Operating income | 70/76A | €83,182,063 | €178,555,493 | +€95.4m | +114.7% |
| Turnover | 70 | €65,796,251 | €160,347,750 | +€94.6m | +143.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €251,218 | -€6,989,480 | -€7.2m | |
| Other operating income | 74 | €17,134,594 | €25,197,223 | +€8.1m | +47.1% |
| Operating charges | 60/66A | €71,365,391 | €160,327,616 | +€89.0m | +124.7% |
| Goods for resale, raw materials and consumables | 60 | €43,538,942 | €117,309,639 | +€73.8m | +169.4% |
| Services and other goods | 61 | €8,310,447 | €11,574,206 | +€3.3m | +39.3% |
| Remuneration, social security and pensions | 62 | €19,059,130 | €27,103,939 | +€8.0m | +42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €473,359 | €1,540,265 | +€1.1m | +225.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€16,487 | -€200,266 | -€183,779 | -1114.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €2,999,833 | +€3.0m | |
| Non-recurring operating charges | 66A | - | €0 | = | |
| Operating profit (loss) | 9901 | €11,816,672 | €18,227,877 | +€6.4m | +54.3% |
| Recurring financial income | 75 | €2,926,950 | €983,066 | -€1.9m | -66.4% |
| Other financial income | 752/9 | €2,926,950 | €983,066 | -€1.9m | -66.4% |
| Financial charges | 65/66B | €290,018 | €7,478,691 | +€7.2m | +2478.7% |
| Recurring financial charges | 65 | €290,018 | €7,478,691 | +€7.2m | +2478.7% |
| Debt charges | 650 | €227,749 | €656,339 | +€428,590 | +188.2% |
| Other financial charges | 652/9 | €62,269 | €6,822,352 | +€6.8m | +10856.3% |
| Profit (loss) for the period before taxes | 9903 | €14,453,604 | €11,732,252 | -€2.7m | -18.8% |
| Income taxes | 67/77 | €1,840,401 | €3,089,290 | +€1.2m | +67.9% |
| Taxes | 670/3 | €1,840,401 | €3,089,290 | +€1.2m | +67.9% |
| Profit (loss) for the period | 9904 | €12,613,203 | €8,642,962 | -€4.0m | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €12,613,203 | €8,642,962 | -€4.0m | -31.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.