TRANS R. D.: 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 R. D.
Largest movements
- Current investments +€1.1m
up €1.1m (+93.4%), from €1.2m to €2.3m
- Cash -€464,462
down €464,462 (-64.2%), from €723,938 to €259,476
mainly Current investments (-€1.1m) and Trade debts (-€47,938)
- Tangible fixed assets -€81,593
down €81,593 (-32.9%), from €247,909 to €166,316
of which Furniture and vehicles: -€82,307
- Receivables within one year +€32,283
up €32,283 (+8.6%), from €377,072 to €409,356
of which Other amounts receivable: +€32,591
- Other debts +€602,941
up €602,941 (+3,079%), from €19,583 to €622,525
- Trade debts -€47,938
down €47,938 (-21.8%), from €220,330 to €172,392
- Reserves +€47,017
up €47,017 (+2.1%), from €2.2m to €2.2m
of which Non-distributable reserves: +€1.1m
- Gross operating margin -€34,761
down €34,761 (-6.6%), from €526,909 to €492,148
- Financial income -€33,447
down €33,447 (-66.3%), from €50,411 to €16,964
- Taxes -€23,390
down €23,390 (-50.2%), from €46,628 to €23,237
- Depreciation -€13,562
down €13,562 (-12.4%), from €108,940 to €95,378
- Staff costs +€6,334
up €6,334 (+2.1%), from €296,878 to €303,212
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 | €2,557,779 | €3,166,047 | +€608,269 | +23.8% |
| Fixed assets | 21/28 | €255,104 | €173,511 | -€81,593 | -32.0% |
| Tangible fixed assets | 22/27 | €247,909 | €166,316 | -€81,593 | -32.9% |
| Land and buildings | 22 | €29,210 | €33,249 | +€4,040 | +13.8% |
| Plant, machinery and equipment | 23 | €16,830 | €13,504 | -€3,326 | -19.8% |
| Furniture and vehicles | 24 | €201,870 | €119,563 | -€82,307 | -40.8% |
| Financial fixed assets | 28 | €7,195 | €7,195 | = | 0.0% |
| Current assets | 29/58 | €2,302,674 | €2,992,536 | +€689,862 | +30.0% |
| Amounts receivable within one year | 40/41 | €377,072 | €409,356 | +€32,283 | +8.6% |
| Trade receivables | 40 | €374,817 | €374,509 | -€307 | -0.1% |
| Other amounts receivable | 41 | €2,256 | €34,847 | +€32,591 | +1,445% |
| Current investments | 50/53 | €1,201,345 | €2,323,704 | +€1.1m | +93.4% |
| Cash at bank and in hand | 54/58 | €723,938 | €259,476 | -€464,462 | -64.2% |
| Deferred charges and accrued income | 490/1 | €319 | - | -€319 | |
| Total equity and liabilities | 10/49 | €2,557,779 | €3,166,047 | +€608,269 | +23.8% |
| Equity | 10/15 | €2,268,678 | €2,315,695 | +€47,017 | +2.1% |
| Contributions | 10/11 | €80,565 | €80,565 | = | 0.0% |
| Capital | 10 | €80,565 | €80,565 | = | 0.0% |
| Issued capital | 100 | €80,565 | €80,565 | = | 0.0% |
| Reserves | 13 | €2,188,112 | €2,235,129 | +€47,017 | +2.1% |
| Non-distributable reserves | 130/1 | €8,057 | €1,129,079 | +€1.1m | +13,914% |
| Legal reserve | 130 | €8,057 | €8,057 | = | 0.0% |
| Own shares acquired | 1312 | - | €1,121,022 | +€1.1m | |
| Tax-exempt reserves | 132 | €20,237 | €20,237 | = | 0.0% |
| Distributable reserves | 133 | €2,159,818 | €1,085,813 | -€1.1m | -49.7% |
| Amounts payable | 17/49 | €289,101 | €850,352 | +€561,251 | +194% |
| Amounts payable within one year | 42/48 | €289,101 | €850,352 | +€561,251 | +194% |
| Trade debts | 44 | €220,330 | €172,392 | -€47,938 | -21.8% |
| Suppliers | 440/4 | €220,330 | €172,392 | -€47,938 | -21.8% |
| Taxes, remuneration and social security | 45 | €49,188 | €55,436 | +€6,248 | +12.7% |
| Taxes | 450/3 | €8,632 | €10,287 | +€1,656 | +19.2% |
| Remuneration and social security | 454/9 | €40,556 | €45,148 | +€4,592 | +11.3% |
| Other amounts payable | 47/48 | €19,583 | €622,525 | +€602,941 | +3,079% |
| Non-recurring operating income | 76A | €1,500 | - | -€1,500 | |
| Remuneration, social security and pensions | 62 | €296,878 | €303,212 | +€6,334 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,940 | €95,378 | -€13,562 | -12.4% |
| Other operating charges | 640/8 | €20,373 | €23,928 | +€3,555 | +17.5% |
| Non-recurring operating charges | 66A | €453 | €11,284 | +€10,831 | +2,393% |
| Gross operating margin | 9900 | €526,909 | €492,148 | -€34,761 | -6.6% |
| Operating profit (loss) | 9901 | €100,265 | €58,346 | -€41,919 | -41.8% |
| Financial income | 75/76B | €50,411 | €16,964 | -€33,447 | -66.3% |
| Recurring financial income | 75 | €50,411 | €16,964 | -€33,447 | -66.3% |
| Financial charges | 65/66B | €5,342 | €5,055 | -€287 | -5.4% |
| Recurring financial charges | 65 | €5,342 | €5,055 | -€287 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | €145,334 | €70,254 | -€75,080 | -51.7% |
| Income taxes | 67/77 | €46,628 | €23,237 | -€23,390 | -50.2% |
| Profit (loss) for the period | 9904 | €98,707 | €47,017 | -€51,690 | -52.4% |
| Profit (loss) for the period to be appropriated | 9905 | €98,707 | €47,017 | -€51,690 | -52.4% |
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 19 October 2026 via checked.be.