Trans4ship: 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.
What changed
Trans4ship
NACE 52.250, Logistics services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€5,463
2024 · -€14,447+€8,984
Equity
€117,699
2024 · €123,162-€5,463
Cash
€33,698
2024 · €33,366+€332
Balance sheet total
€652,421
2024 · €595,959+€56,462
Largest movements
Assets
- Receivables within one year +€67,636
up €67,636 (+13.4%), from €503,316 to €570,953
of which Trade receivables: +€76,199
- Receivables after one year -€7,000
down €7,000 (-35.0%), from €20,000 to €13,000
Equity and liabilities
- Trade debts +€226,755
up €226,755 (+223%), from €101,536 to €328,291
- Debts after one year -€150,000
down €150,000 (-42.9%), from €350,000 to €200,000
- Short-term financial debts -€12,973
down €12,973 (-71.0%), from €18,261 to €5,288
of which Credit institutions: -€12,973
Income statement
- Gross operating margin +€64,680
up €64,680 (+180%), from €35,851 to €100,531
- Financial charges +€56,438
up €56,438 (+172%), from €32,847 to €89,285
- Depreciation -€1,185
down €1,185 (-11.6%), from €10,176 to €8,991
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.
Result 2024
-€14,447
Gross operating margin
+€64,680
Depreciation
+€1,185
Other operating charges
-€604
Financial income
-€60
Financial charges
-€56,438
Taxes
+€221
Result 2025
-€5,463
raises the resultlowers the result
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.
From operations
+€168,797
Investment
-€5,492
Financing
-€162,973
Cash 2024
€33,366
From operations (derived)
+€168,797
Net result for the year
-€5,463
Depreciation
+€8,991
Receivables after one year
+€7,000
Receivables within one year
-€67,636
Deferred charges and accrued income
+€1,007
Trade debts
+€226,755
Tax, wage and social debts
-€2,366
Other debts
+€509
Investment (derived)
-€5,492
Investment in fixed assets (net)
-€5,492
Financing
-€162,973
Debts after one year
-€150,000
Short-term financial debts
-€12,973
Cash 2025
€33,698
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €595,959 | €652,421 | +€56,462 | +9.5% |
| Fixed assets | 21/28 | €32,570 | €29,071 | -€3,499 | -10.7% |
| Tangible fixed assets | 22/27 | €24,950 | €24,871 | -€79 | -0.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €13,750 | €16,543 | +€2,794 | +20.3% |
| Other tangible fixed assets | 26 | €11,201 | €8,328 | -€2,873 | -25.6% |
| Financial fixed assets | 28 | €7,620 | €4,200 | -€3,420 | -44.9% |
| Current assets | 29/58 | €563,389 | €623,350 | +€59,961 | +10.6% |
| Amounts receivable after more than one year | 29 | €20,000 | €13,000 | -€7,000 | -35.0% |
| Other amounts receivable | 291 | €20,000 | €13,000 | -€7,000 | -35.0% |
| Amounts receivable within one year | 40/41 | €503,316 | €570,953 | +€67,636 | +13.4% |
| Trade receivables | 40 | €476,505 | €552,704 | +€76,199 | +16.0% |
| Other amounts receivable | 41 | €26,811 | €18,248 | -€8,563 | -31.9% |
| Cash at bank and in hand | 54/58 | €33,366 | €33,698 | +€332 | +1.0% |
| Deferred charges and accrued income | 490/1 | €6,707 | €5,700 | -€1,007 | -15.0% |
| Total equity and liabilities | 10/49 | €595,959 | €652,421 | +€56,462 | +9.5% |
| Equity | 10/15 | €123,162 | €117,699 | -€5,463 | -4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,562 | €99,099 | -€5,463 | -5.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €104,562 | €99,099 | -€5,463 | -5.2% |
| Amounts payable | 17/49 | €472,797 | €534,722 | +€61,925 | +13.1% |
| Amounts payable after more than one year | 17 | €350,000 | €200,000 | -€150,000 | -42.9% |
| Financial debts | 170/4 | €350,000 | €200,000 | -€150,000 | -42.9% |
| Amounts payable within one year | 42/48 | €122,797 | €334,722 | +€211,925 | +173% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €18,261 | €5,288 | -€12,973 | -71.0% |
| Credit institutions | 430/8 | €18,261 | €5,288 | -€12,973 | -71.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €101,536 | €328,291 | +€226,755 | +223% |
| Suppliers | 440/4 | €101,536 | €328,291 | +€226,755 | +223% |
| Taxes, remuneration and social security | 45 | €2,469 | €103 | -€2,366 | -95.8% |
| Taxes | 450/3 | €0 | €103 | +€103 | |
| Remuneration and social security | 454/9 | €2,469 | €0 | -€2,469 | -100% |
| Other amounts payable | 47/48 | €531 | €1,040 | +€509 | +95.9% |
| Non-recurring operating income | 76A | €0 | €1,245 | +€1,245 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,176 | €8,991 | -€1,185 | -11.6% |
| Other operating charges | 640/8 | €1,897 | €2,500 | +€604 | +31.8% |
| Gross operating margin | 9900 | €35,851 | €100,531 | +€64,680 | +180% |
| Operating profit (loss) | 9901 | €23,778 | €89,039 | +€65,261 | +274% |
| Financial income | 75/76B | €578 | €518 | -€60 | -10.3% |
| Recurring financial income | 75 | €578 | €518 | -€60 | -10.3% |
| Financial charges | 65/66B | €32,847 | €89,285 | +€56,438 | +172% |
| Recurring financial charges | 65 | €32,847 | €89,285 | +€56,438 | +172% |
| Profit (loss) for the period before taxes | 9903 | -€8,491 | €273 | +€8,764 | |
| Income taxes | 67/77 | €5,956 | €5,735 | -€221 | -3.7% |
| Profit (loss) for the period | 9904 | -€14,447 | -€5,463 | +€8,984 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,447 | -€5,463 | +€8,984 | +62.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.