TRANS&WALL: 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&WALL
Largest movements
- Receivables within one year +€262,377
up €262,377 (+129%), from €203,355 to €465,732
of which Other amounts receivable: +€262,575
- Reserves +€338,237
up €338,237 (+6.9%), from €4.9m to €5.3m
of which Distributable reserves: +€338,237
- Debts after one year -€131,400
down €131,400 (-7.5%), from €1.7m to €1.6m
- Financial income -€3.7m
down €3.7m (-81.9%), from €4.6m to €826,054
of which Non-recurring financial income: -€3.9m
- Gross operating margin -€82,778
down €82,778 (-152%), from -€54,550 to -€137,328
- Financial charges -€62,030
down €62,030 (-56.7%), from €109,480 to €47,450
of which Non-recurring financial charges: -€50,562
- Staff costs +€43,325
up €43,325 (+32.1%), from €135,171 to €178,496
- Depreciation +€4,616
up €4,616 (+173%), from €2,666 to €7,282
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 | €11,571,554 | €11,805,257 | +€233,703 | +2.0% |
| Fixed assets | 21/28 | €10,655,608 | €10,725,442 | +€69,834 | +0.7% |
| Tangible fixed assets | 22/27 | €3,060 | €72,894 | +€69,834 | +2,282% |
| Land and buildings | 22 | - | €69,964 | +€69,964 | |
| Furniture and vehicles | 24 | €3,060 | €1,115 | -€1,945 | -63.6% |
| Assets under construction and advance payments | 27 | - | €1,815 | +€1,815 | |
| Financial fixed assets | 28 | €10,652,548 | €10,652,548 | = | 0.0% |
| Current assets | 29/58 | €915,946 | €1,079,815 | +€163,869 | +17.9% |
| Amounts receivable within one year | 40/41 | €203,355 | €465,732 | +€262,377 | +129% |
| Trade receivables | 40 | €197 | €0 | -€197 | -100% |
| Other amounts receivable | 41 | €203,157 | €465,732 | +€262,575 | +129% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €699,492 | €600,949 | -€98,543 | -14.1% |
| Deferred charges and accrued income | 490/1 | €13,099 | €13,134 | +€34 | +0.3% |
| Total equity and liabilities | 10/49 | €11,571,554 | €11,805,257 | +€233,703 | +2.0% |
| Equity | 10/15 | €9,417,352 | €9,785,229 | +€367,877 | +3.9% |
| Contributions | 10/11 | €4,461,936 | €4,491,576 | +€29,640 | +0.7% |
| Revaluation surpluses | 12 | €25,809 | €25,809 | = | 0.0% |
| Reserves | 13 | €4,929,608 | €5,267,845 | +€338,237 | +6.9% |
| Non-distributable reserves | 130/1 | €3,925,676 | €3,925,676 | = | 0.0% |
| Other | 1319 | €3,925,676 | €3,925,676 | = | 0.0% |
| Distributable reserves | 133 | €1,003,932 | €1,342,169 | +€338,237 | +33.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,154,202 | €2,020,027 | -€134,174 | -6.2% |
| Amounts payable after more than one year | 17 | €1,748,391 | €1,616,992 | -€131,400 | -7.5% |
| Financial debts | 170/4 | €1,748,391 | €1,616,992 | -€131,400 | -7.5% |
| Amounts payable within one year | 42/48 | €405,774 | €403,036 | -€2,738 | -0.7% |
| Current portion of amounts payable after more than one year | 42 | €249,673 | €261,400 | +€11,727 | +4.7% |
| Trade debts | 44 | €16,601 | €6,297 | -€10,304 | -62.1% |
| Suppliers | 440/4 | €16,601 | €6,297 | -€10,304 | -62.1% |
| Taxes, remuneration and social security | 45 | €29,941 | €25,780 | -€4,161 | -13.9% |
| Remuneration and social security | 454/9 | €29,941 | €25,780 | -€4,161 | -13.9% |
| Other amounts payable | 47/48 | €109,559 | €109,559 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €36 | €0 | -€36 | -100% |
| Remuneration, social security and pensions | 62 | €135,171 | €178,496 | +€43,325 | +32.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,666 | €7,282 | +€4,616 | +173% |
| Other operating charges | 640/8 | €2,827 | €628 | -€2,199 | -77.8% |
| Non-recurring operating charges | 66A | - | €7,094 | +€7,094 | |
| Gross operating margin | 9900 | -€54,550 | -€137,328 | -€82,778 | -152% |
| Operating profit (loss) | 9901 | -€195,214 | -€330,827 | -€135,613 | -69.5% |
| Financial income | 75/76B | €4,563,985 | €826,054 | -€3.7m | -81.9% |
| Recurring financial income | 75 | €638,309 | €826,054 | +€187,745 | +29.4% |
| Non-recurring financial income | 76B | €3,925,676 | €0 | -€3.9m | -100% |
| Financial charges | 65/66B | €109,480 | €47,450 | -€62,030 | -56.7% |
| Recurring financial charges | 65 | €58,918 | €47,450 | -€11,468 | -19.5% |
| Non-recurring financial charges | 66B | €50,562 | €0 | -€50,562 | -100% |
| Profit (loss) for the period before taxes | 9903 | €4,259,291 | €447,777 | -€3.8m | -89.5% |
| Profit (loss) for the period | 9904 | €4,259,291 | €447,777 | -€3.8m | -89.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,259,291 | €447,777 | -€3.8m | -89.5% |
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 16 October 2026 via checked.be.