TRANS-9: 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.
TRANS-9
Largest movements
- Stocks and contracts +€67,089
up €67,089 (+31.1%), from €215,997 to €283,086
- Receivables within one year +€10,215
up €10,215 (+72.8%), from €14,025 to €24,240
of which Other amounts receivable: +€10,171
- Tangible fixed assets -€8,377
down €8,377 (-9.2%), from €91,115 to €82,739
of which Land and buildings: -€8,175
- Short-term financial debts +€40,000
up €40,000 (+160.0%), from €25,000 to €65,000
- Profit (loss) carried forward +€35,413
up €35,413 (+17.6%), from €200,769 to €236,182
- Debts after one year -€14,879
down €14,879 (-21.0%), from €70,942 to €56,063
- Gross operating margin -€50,344
down €50,344 (-43.2%), from €116,436 to €66,091
- Taxes -€13,384
down €13,384 (-50.8%), from €26,360 to €12,976
- Depreciation +€3,228
up €3,228 (+62.7%), from €5,149 to €8,377
- Other operating charges -€1,592
down €1,592 (-43.3%), from €3,673 to €2,081
- Financial charges +€1,497
up €1,497 (+41.9%), from €3,570 to €5,067
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.
Cash bridge derived
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 | €351,258 | €421,479 | +€70,221 | +20.0% |
| Fixed assets | 21/28 | €91,115 | €83,739 | -€7,377 | -8.1% |
| Tangible fixed assets | 22/27 | €91,115 | €82,739 | -€8,377 | -9.2% |
| Land and buildings | 22 | €90,908 | €82,733 | -€8,175 | -9.0% |
| Plant, machinery and equipment | 23 | €207 | €6 | -€201 | -97.0% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €260,142 | €337,740 | +€77,598 | +29.8% |
| Stocks and contracts in progress | 3 | €215,997 | €283,086 | +€67,089 | +31.1% |
| Stocks | 30/36 | €215,997 | €283,086 | +€67,089 | +31.1% |
| Amounts receivable within one year | 40/41 | €14,025 | €24,240 | +€10,215 | +72.8% |
| Trade receivables | 40 | - | €44 | +€44 | |
| Other amounts receivable | 41 | €14,025 | €24,196 | +€10,171 | +72.5% |
| Cash at bank and in hand | 54/58 | €30,121 | €28,470 | -€1,651 | -5.5% |
| Deferred charges and accrued income | 490/1 | - | €1,945 | +€1,945 | |
| Total equity and liabilities | 10/49 | €351,258 | €421,479 | +€70,221 | +20.0% |
| Equity | 10/15 | €219,369 | €254,782 | +€35,413 | +16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,769 | €236,182 | +€35,413 | +17.6% |
| Amounts payable | 17/49 | €131,889 | €166,697 | +€34,808 | +26.4% |
| Amounts payable after more than one year | 17 | €70,942 | €56,063 | -€14,879 | -21.0% |
| Financial debts | 170/4 | €70,942 | €56,063 | -€14,879 | -21.0% |
| Amounts payable within one year | 42/48 | €60,947 | €110,634 | +€49,687 | +81.5% |
| Current portion of amounts payable after more than one year | 42 | €14,307 | €14,879 | +€572 | +4.0% |
| Financial debts | 43 | €25,000 | €65,000 | +€40,000 | +160.0% |
| Credit institutions | 430/8 | €25,000 | €65,000 | +€40,000 | +160.0% |
| Trade debts | 44 | €1,807 | €4,715 | +€2,909 | +161.0% |
| Suppliers | 440/4 | €1,807 | €4,715 | +€2,909 | +161.0% |
| Taxes, remuneration and social security | 45 | - | €2,976 | +€2,976 | |
| Taxes | 450/3 | - | €2,976 | +€2,976 | |
| Other amounts payable | 47/48 | €19,834 | €23,064 | +€3,230 | +16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,149 | €8,377 | +€3,228 | +62.7% |
| Other operating charges | 640/8 | €3,673 | €2,081 | -€1,592 | -43.3% |
| Gross operating margin | 9900 | €116,436 | €66,091 | -€50,344 | -43.2% |
| Operating profit (loss) | 9901 | €107,613 | €55,634 | -€51,980 | -48.3% |
| Financial income | 75/76B | €169 | €223 | +€54 | +32.0% |
| Recurring financial income | 75 | €169 | €223 | +€54 | +32.0% |
| Financial charges | 65/66B | €3,570 | €5,067 | +€1,497 | +41.9% |
| Recurring financial charges | 65 | €3,570 | €5,067 | +€1,497 | +41.9% |
| Profit (loss) for the period before taxes | 9903 | €104,212 | €50,789 | -€53,423 | -51.3% |
| Income taxes | 67/77 | €26,360 | €12,976 | -€13,384 | -50.8% |
| Profit (loss) for the period | 9904 | €77,852 | €37,813 | -€40,039 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €77,852 | €37,813 | -€40,039 | -51.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.