TRANS ADRIATICO: 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.
TRANS ADRIATICO
Largest movements
- Cash +€228,721
up €228,721 (+2,929%), from €7,810 to €236,531
mainly Receivables within one year (+€157,204) and Investment in fixed assets (net) (+€142,384)
- Tangible fixed assets -€159,849
down €159,849 (-90.0%), from €177,636 to €17,788
of which Furniture and vehicles: -€155,321
- Receivables within one year -€157,204
down €157,204 (-86.5%), from €181,763 to €24,558
of which Trade receivables: -€144,566
- Current portion of long-term debt -€37,391
no longer reported in 2025 (was €37,391)
- Trade debts -€36,693
down €36,693 (-94.4%), from €38,881 to €2,188
- Debts after one year -€34,131
no longer reported in 2025 (was €34,131)
- Reserves +€14,955
up €14,955 (+6.2%), from €241,208 to €256,163
of which Distributable reserves: +€103,012
- Provisions +€7,500
new in 2025: €7,500
- Gross operating margin -€143,200
down €143,200 (-52.2%), from €274,154 to €130,955
- Staff costs -€78,996
no longer reported in 2025 (was €78,996)
- Depreciation -€68,198
down €68,198 (-76.5%), from €89,146 to €20,948
- Other operating charges -€52,748
down €52,748 (-65.3%), from €80,803 to €28,055
- Taxes +€41,090
up €41,090 (+554%), from €7,422 to €48,511
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 | €393,246 | €303,730 | -€89,515 | -22.8% |
| Fixed assets | 21/28 | €203,673 | €40,342 | -€163,332 | -80.2% |
| Tangible fixed assets | 22/27 | €177,636 | €17,788 | -€159,849 | -90.0% |
| Plant, machinery and equipment | 23 | €9,179 | €4,651 | -€4,527 | -49.3% |
| Furniture and vehicles | 24 | €168,458 | €13,136 | -€155,321 | -92.2% |
| Financial fixed assets | 28 | €26,037 | €22,554 | -€3,483 | -13.4% |
| Current assets | 29/58 | €189,572 | €263,389 | +€73,817 | +38.9% |
| Amounts receivable within one year | 40/41 | €181,763 | €24,558 | -€157,204 | -86.5% |
| Trade receivables | 40 | €162,196 | €17,630 | -€144,566 | -89.1% |
| Other amounts receivable | 41 | €19,566 | €6,928 | -€12,638 | -64.6% |
| Cash at bank and in hand | 54/58 | €7,810 | €236,531 | +€228,721 | +2,929% |
| Deferred charges and accrued income | 490/1 | - | €2,300 | +€2,300 | |
| Total equity and liabilities | 10/49 | €393,246 | €303,730 | -€89,515 | -22.8% |
| Equity | 10/15 | €259,800 | €274,755 | +€14,955 | +5.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €241,208 | €256,163 | +€14,955 | +6.2% |
| Tax-exempt reserves | 132 | €88,057 | - | -€88,057 | |
| Distributable reserves | 133 | €153,151 | €256,163 | +€103,012 | +67.3% |
| Provisions and deferred taxes | 16 | - | €7,500 | +€7,500 | |
| Provisions for liabilities and charges | 160/5 | - | €7,500 | +€7,500 | |
| Other liabilities and charges | 164/5 | - | €7,500 | +€7,500 | |
| Amounts payable | 17/49 | €133,446 | €21,476 | -€111,970 | -83.9% |
| Amounts payable after more than one year | 17 | €34,131 | - | -€34,131 | |
| Financial debts | 170/4 | €34,131 | - | -€34,131 | |
| Amounts payable within one year | 42/48 | €99,314 | €21,476 | -€77,839 | -78.4% |
| Current portion of amounts payable after more than one year | 42 | €37,391 | - | -€37,391 | |
| Trade debts | 44 | €38,881 | €2,188 | -€36,693 | -94.4% |
| Suppliers | 440/4 | €38,881 | €2,188 | -€36,693 | -94.4% |
| Taxes, remuneration and social security | 45 | €18,727 | €19,288 | +€561 | +3.0% |
| Taxes | 450/3 | €11,845 | €19,288 | +€7,443 | +62.8% |
| Remuneration and social security | 454/9 | €6,882 | - | -€6,882 | |
| Other amounts payable | 47/48 | €4,316 | - | -€4,316 | |
| Non-recurring operating income | 76A | - | €107,622 | +€107,622 | |
| Remuneration, social security and pensions | 62 | €78,996 | - | -€78,996 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,146 | €20,948 | -€68,198 | -76.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €7,500 | +€7,500 | |
| Other operating charges | 640/8 | €80,803 | €28,055 | -€52,748 | -65.3% |
| Non-recurring operating charges | 66A | - | €9,022 | +€9,022 | |
| Gross operating margin | 9900 | €274,154 | €130,955 | -€143,200 | -52.2% |
| Operating profit (loss) | 9901 | €25,211 | €65,430 | +€40,219 | +160% |
| Financial income | 75/76B | €38 | €24 | -€14 | -36.5% |
| Recurring financial income | 75 | €38 | €24 | -€14 | -36.5% |
| Financial charges | 65/66B | €3,444 | €1,988 | -€1,456 | -42.3% |
| Recurring financial charges | 65 | €3,444 | €1,988 | -€1,456 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €21,804 | €63,466 | +€41,662 | +191% |
| Income taxes | 67/77 | €7,422 | €48,511 | +€41,090 | +554% |
| Profit (loss) for the period | 9904 | €14,383 | €14,955 | +€572 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,383 | €14,955 | +€572 | +4.0% |
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 23 October 2026 via checked.be.