TRANS A.D.M.: 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 A.D.M.
Largest movements
- Cash -€167,770
no longer reported in 2025 (was €167,770)
mainly Investment in fixed assets (net) (-€519,589) and Short-term financial debts (-€240,000)
- Financial fixed assets -€140,000
down €140,000 (-73.7%), from €190,000 to €50,000
- Tangible fixed assets +€110,617
up €110,617 (+4.0%), from €2.8m to €2.9m
of which Leasing and similar rights: +€319,492
- Receivables within one year +€104,485
up €104,485 (+34.1%), from €306,479 to €410,964
of which Trade receivables: +€94,952
- Stocks and contracts +€95,616
up €95,616 (+150.3%), from €63,609 to €159,225
- Profit (loss) carried forward +€323,205
up €323,205 (+38.8%), from €832,937 to €1.2m
- Short-term financial debts -€240,000
down €240,000 (-53.3%), from €450,000 to €210,000
- Debts after one year +€90,596
up €90,596 (+7.3%), from €1.2m to €1.3m
- Other debts -€70,000
no longer reported in 2025 (was €70,000)
- Gross operating margin +€140,034
up €140,034 (+14.6%), from €961,637 to €1.1m
- Staff costs +€40,752
up €40,752 (+152.5%), from €26,721 to €67,473
- Other operating charges -€38,661
down €38,661 (-81.5%), from €47,422 to €8,761
- Taxes +€28,869
up €28,869 (+50.8%), from €56,865 to €85,733
- Financial charges -€15,222
down €15,222 (-17.9%), from €85,048 to €69,826
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 | €3,505,192 | €3,576,652 | +€71,460 | +2.0% |
| Fixed assets | 21/28 | €2,966,833 | €2,936,546 | -€30,287 | -1.0% |
| Intangible fixed assets | 21 | €14,039 | €13,135 | -€904 | -6.4% |
| Tangible fixed assets | 22/27 | €2,762,794 | €2,873,411 | +€110,617 | +4.0% |
| Land and buildings | 22 | €677,972 | €644,421 | -€33,552 | -4.9% |
| Plant, machinery and equipment | 23 | €116,652 | €94,029 | -€22,622 | -19.4% |
| Furniture and vehicles | 24 | €1,496,104 | €1,343,404 | -€152,700 | -10.2% |
| Leasing and similar rights | 25 | €472,065 | €791,557 | +€319,492 | +67.7% |
| Financial fixed assets | 28 | €190,000 | €50,000 | -€140,000 | -73.7% |
| Current assets | 29/58 | €538,359 | €640,106 | +€101,747 | +18.9% |
| Stocks and contracts in progress | 3 | €63,609 | €159,225 | +€95,616 | +150.3% |
| Stocks | 30/36 | €63,609 | €159,225 | +€95,616 | +150.3% |
| Amounts receivable within one year | 40/41 | €306,479 | €410,964 | +€104,485 | +34.1% |
| Trade receivables | 40 | €172,521 | €267,473 | +€94,952 | +55.0% |
| Other amounts receivable | 41 | €133,958 | €143,491 | +€9,533 | +7.1% |
| Current investments | 50/53 | - | €62,179 | +€62,179 | |
| Cash at bank and in hand | 54/58 | €167,770 | - | -€167,770 | |
| Deferred charges and accrued income | 490/1 | €500 | €7,738 | +€7,237 | +1446.6% |
| Total equity and liabilities | 10/49 | €3,505,192 | €3,576,652 | +€71,460 | +2.0% |
| Equity | 10/15 | €1,203,809 | €1,523,994 | +€320,185 | +26.6% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €84,263 | €84,263 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €34,515 | €34,515 | = | 0.0% |
| Distributable reserves | 133 | €24,749 | €24,749 | = | 0.0% |
| Profit (loss) carried forward | 14 | €832,937 | €1,156,142 | +€323,205 | +38.8% |
| Investment grants | 15 | €36,609 | €33,588 | -€3,020 | -8.3% |
| Amounts payable | 17/49 | €2,301,383 | €2,052,659 | -€248,725 | -10.8% |
| Amounts payable after more than one year | 17 | €1,247,867 | €1,338,463 | +€90,596 | +7.3% |
| Financial debts | 170/4 | €1,247,867 | €1,338,463 | +€90,596 | +7.3% |
| Amounts payable within one year | 42/48 | €1,053,516 | €713,386 | -€340,130 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | €408,685 | €391,572 | -€17,113 | -4.2% |
| Financial debts | 43 | €450,000 | €210,000 | -€240,000 | -53.3% |
| Credit institutions | 430/8 | €450,000 | €210,000 | -€240,000 | -53.3% |
| Trade debts | 44 | €122,653 | €100,147 | -€22,506 | -18.3% |
| Suppliers | 440/4 | €122,653 | €100,147 | -€22,506 | -18.3% |
| Taxes, remuneration and social security | 45 | €2,179 | €11,667 | +€9,488 | +435.5% |
| Remuneration and social security | 454/9 | €2,179 | €11,667 | +€9,488 | +435.5% |
| Other amounts payable | 47/48 | €70,000 | - | -€70,000 | |
| Accrued charges and deferred income | 492/3 | - | €810 | +€810 | |
| Non-recurring operating income | 76A | €90,000 | €1,499 | -€88,501 | -98.3% |
| Remuneration, social security and pensions | 62 | €26,721 | €67,473 | +€40,752 | +152.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €548,786 | €549,876 | +€1,090 | +0.2% |
| Other operating charges | 640/8 | €47,422 | €8,761 | -€38,661 | -81.5% |
| Non-recurring operating charges | 66A | €1,425 | - | -€1,425 | |
| Gross operating margin | 9900 | €961,637 | €1,101,672 | +€140,034 | +14.6% |
| Operating profit (loss) | 9901 | €337,283 | €475,562 | +€138,278 | +41.0% |
| Financial income | 75/76B | €3,230 | €3,203 | -€27 | -0.8% |
| Recurring financial income | 75 | €3,230 | €3,203 | -€27 | -0.8% |
| Financial charges | 65/66B | €85,048 | €69,826 | -€15,222 | -17.9% |
| Recurring financial charges | 65 | €85,048 | €69,826 | -€15,222 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €255,466 | €408,939 | +€153,473 | +60.1% |
| Income taxes | 67/77 | €56,865 | €85,733 | +€28,869 | +50.8% |
| Profit (loss) for the period | 9904 | €198,601 | €323,205 | +€124,604 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €198,601 | €323,205 | +€124,604 | +62.7% |
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 2 October 2026 via checked.be.