Trans. V.B.: what changed
What changed
Trans. V.B.
NACE 49.410, Freight transport by road
filed annual accounts (NBB)
Net result for the year
€20,168
2024 · €14,360+€5,808
Equity
€97,391
2024 · €86,133+€11,258
Cash
€794
2024 · €1,631-€837
Balance sheet total
€318,607
2024 · €153,083+€165,524
Largest movements
Assets
- Tangible fixed assets +€122,385
up €122,385 (+164%), from €74,619 to €197,004
of which Leasing and similar rights: +€136,687
- Receivables within one year +€50,690
up €50,690 (+115%), from €44,216 to €94,906
of which Trade receivables: +€31,167
- Receivables after one year -€8,464
down €8,464 (-27.6%), from €30,717 to €22,253
Equity and liabilities
- Debts after one year +€125,871
up €125,871 (+999%), from €12,596 to €138,468
- Short-term financial debts +€11,508
new in 2025: €11,508
- Reserves +€11,258
up €11,258 (+15.3%), from €73,733 to €84,991
- Tax, wage and social debts +€8,267
up €8,267 (+271%), from €3,050 to €11,317
of which Taxes: +€5,694
- Trade debts +€4,542
up €4,542 (+82.4%), from €5,514 to €10,056
Income statement
- Gross operating margin +€21,205
up €21,205 (+33.6%), from €63,168 to €84,373
- Depreciation +€14,865
up €14,865 (+38.9%), from €38,195 to €53,060
- Financial income -€3,128
down €3,128 (-96.1%), from €3,257 to €129
- Other operating charges -€1,885
down €1,885 (-30.9%), from €6,104 to €4,219
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€14,360
Gross operating margin
+€21,205
Depreciation
-€14,865
Other operating charges
+€1,885
Financial income
-€3,128
Financial charges
+€30
Taxes
+€681
Result 2025
€20,168
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€43,866
Investment
-€175,445
Financing
+€130,742
Cash 2024
€1,631
From operations (derived)
+€43,866
Net result for the year
+€20,168
Depreciation
+€53,060
Receivables after one year
+€8,464
Receivables within one year
-€50,690
Deferred charges and accrued income
-€1,750
Trade debts
+€4,542
Tax, wage and social debts
+€8,267
Other debts
+€1,805
Investment (derived)
-€175,445
Investment in fixed assets (net)
-€175,445
Financing
+€130,742
Debts after one year
+€125,871
Current portion of long-term debt
+€2,272
Short-term financial debts
+€11,508
Contributions, distributions and other
-€8,910
Cash 2025
€794
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €153,083 | €318,607 | +€165,524 | +108% |
| Fixed assets | 21/28 | €74,619 | €197,004 | +€122,385 | +164% |
| Tangible fixed assets | 22/27 | €74,619 | €197,004 | +€122,385 | +164% |
| Plant, machinery and equipment | 23 | €17,362 | €11,562 | -€5,800 | -33.4% |
| Furniture and vehicles | 24 | €21,039 | €13,005 | -€8,035 | -38.2% |
| Leasing and similar rights | 25 | €34,267 | €170,954 | +€136,687 | +399% |
| Other tangible fixed assets | 26 | €1,951 | €1,483 | -€468 | -24.0% |
| Current assets | 29/58 | €78,465 | €121,603 | +€43,139 | +55.0% |
| Amounts receivable after more than one year | 29 | €30,717 | €22,253 | -€8,464 | -27.6% |
| Other amounts receivable | 291 | €30,717 | €22,253 | -€8,464 | -27.6% |
| Amounts receivable within one year | 40/41 | €44,216 | €94,906 | +€50,690 | +115% |
| Trade receivables | 40 | €42,131 | €73,298 | +€31,167 | +74.0% |
| Other amounts receivable | 41 | €2,084 | €21,608 | +€19,523 | +937% |
| Cash at bank and in hand | 54/58 | €1,631 | €794 | -€837 | -51.3% |
| Deferred charges and accrued income | 490/1 | €1,900 | €3,650 | +€1,750 | +92.1% |
| Total equity and liabilities | 10/49 | €153,083 | €318,607 | +€165,524 | +108% |
| Equity | 10/15 | €86,133 | €97,391 | +€11,258 | +13.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €73,733 | €84,991 | +€11,258 | +15.3% |
| Distributable reserves | 133 | €73,733 | €84,991 | +€11,258 | +15.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €66,951 | €221,216 | +€154,266 | +230% |
| Amounts payable after more than one year | 17 | €12,596 | €138,468 | +€125,871 | +999% |
| Financial debts | 170/4 | €12,596 | €138,468 | +€125,871 | +999% |
| Amounts payable within one year | 42/48 | €54,354 | €82,749 | +€28,394 | +52.2% |
| Current portion of amounts payable after more than one year | 42 | €42,142 | €44,415 | +€2,272 | +5.4% |
| Financial debts | 43 | - | €11,508 | +€11,508 | |
| Credit institutions | 430/8 | - | €11,508 | +€11,508 | |
| Trade debts | 44 | €5,514 | €10,056 | +€4,542 | +82.4% |
| Suppliers | 440/4 | €5,514 | €10,056 | +€4,542 | +82.4% |
| Taxes, remuneration and social security | 45 | €3,050 | €11,317 | +€8,267 | +271% |
| Taxes | 450/3 | €331 | €6,025 | +€5,694 | +1,721% |
| Remuneration and social security | 454/9 | €2,719 | €5,292 | +€2,573 | +94.6% |
| Other amounts payable | 47/48 | €3,647 | €5,452 | +€1,805 | +49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,195 | €53,060 | +€14,865 | +38.9% |
| Other operating charges | 640/8 | €6,104 | €4,219 | -€1,885 | -30.9% |
| Gross operating margin | 9900 | €63,168 | €84,373 | +€21,205 | +33.6% |
| Operating profit (loss) | 9901 | €18,869 | €27,094 | +€8,225 | +43.6% |
| Financial income | 75/76B | €3,257 | €129 | -€3,128 | -96.1% |
| Recurring financial income | 75 | €3,257 | €129 | -€3,128 | -96.1% |
| Financial charges | 65/66B | €3,850 | €3,821 | -€30 | -0.8% |
| Recurring financial charges | 65 | €3,850 | €3,821 | -€30 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €18,275 | €23,402 | +€5,127 | +28.1% |
| Income taxes | 67/77 | €3,916 | €3,234 | -€681 | -17.4% |
| Profit (loss) for the period | 9904 | €14,360 | €20,168 | +€5,808 | +40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,360 | €20,168 | +€5,808 | +40.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.