TRANSA/ASP: what changed
Two fiscal 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.
TRANSA/ASP
Largest movements
- Current investments -€705,668
down €705,668 (-100.0%), from €705,668 to €0
- Receivables within one year +€639,415
up €639,415 (+26.3%), from €2.4m to €3.1m
of which Other amounts receivable: +€675,024
- Intangible fixed assets +€256,636
up €256,636 (+122.2%), from €210,034 to €466,670
- Cash +€252,719
up €252,719 (+67.0%), from €377,157 to €629,875
mainly Current investments (+€705,668) and Net result for the year (+€458,157)
- Reserves +€458,157
up €458,157 (+24.2%), from €1.9m to €2.4m
of which Distributable reserves: +€458,157
- Financial income +€188,277
up €188,277 (+35.0%), from €537,283 to €725,559
- Financial charges +€113,534
up €113,534 (+2569.7%), from €4,418 to €117,953
- Depreciation +€57,564
up €57,564 (+304.9%), from €18,879 to €76,443
- Taxes -€38,089
down €38,089 (-42.6%), from €89,487 to €51,399
- Gross operating margin +€32,811
up €32,811 (+61.6%), from -€53,292 to -€20,482
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.
Cash bridge derived
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 | €9,526,929 | €9,968,932 | +€442,003 | +4.6% |
| Fixed assets | 21/28 | €3,920,551 | €4,180,674 | +€260,124 | +6.6% |
| Intangible fixed assets | 21 | €210,034 | €466,670 | +€256,636 | +122.2% |
| Tangible fixed assets | 22/27 | €1,952 | €5,439 | +€3,488 | +178.7% |
| Plant, machinery and equipment | 23 | - | €2,440 | +€2,440 | |
| Furniture and vehicles | 24 | €1,952 | €2,999 | +€1,047 | +53.7% |
| Financial fixed assets | 28 | €3,708,565 | €3,708,565 | = | 0.0% |
| Current assets | 29/58 | €5,606,379 | €5,788,258 | +€181,879 | +3.2% |
| Amounts receivable after more than one year | 29 | €2,000,000 | €2,000,000 | = | 0.0% |
| Other amounts receivable | 291 | €2,000,000 | €2,000,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,431,186 | €3,070,602 | +€639,415 | +26.3% |
| Trade receivables | 40 | €59,486 | €23,878 | -€35,609 | -59.9% |
| Other amounts receivable | 41 | €2,371,700 | €3,046,724 | +€675,024 | +28.5% |
| Current investments | 50/53 | €705,668 | €0 | -€705,668 | -100.0% |
| Cash at bank and in hand | 54/58 | €377,157 | €629,875 | +€252,719 | +67.0% |
| Deferred charges and accrued income | 490/1 | €92,367 | €87,781 | -€4,587 | -5.0% |
| Total equity and liabilities | 10/49 | €9,526,929 | €9,968,932 | +€442,003 | +4.6% |
| Equity | 10/15 | €9,456,448 | €9,914,605 | +€458,157 | +4.8% |
| Contributions | 10/11 | €404,400 | €404,400 | = | 0.0% |
| Reserves | 13 | €1,892,258 | €2,350,415 | +€458,157 | +24.2% |
| Non-distributable reserves | 130/1 | €40,440 | €40,440 | = | 0.0% |
| Reserves not available under the articles | 1311 | €40,440 | €40,440 | = | 0.0% |
| Distributable reserves | 133 | €1,851,818 | €2,309,975 | +€458,157 | +24.7% |
| Profit (loss) carried forward | 14 | €7,159,790 | €7,159,790 | = | 0.0% |
| Amounts payable | 17/49 | €70,481 | €54,327 | -€16,154 | -22.9% |
| Amounts payable within one year | 42/48 | €45,573 | €54,327 | +€8,754 | +19.2% |
| Trade debts | 44 | €5,337 | €39,408 | +€34,071 | +638.4% |
| Suppliers | 440/4 | €5,337 | €39,408 | +€34,071 | +638.4% |
| Taxes, remuneration and social security | 45 | €40,236 | €14,919 | -€25,317 | -62.9% |
| Taxes | 450/3 | €40,236 | €14,919 | -€25,317 | -62.9% |
| Accrued charges and deferred income | 492/3 | €24,908 | €0 | -€24,908 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,879 | €76,443 | +€57,564 | +304.9% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€53,292 | -€20,482 | +€32,811 | +61.6% |
| Operating profit (loss) | 9901 | -€73,265 | -€98,051 | -€24,786 | -33.8% |
| Financial income | 75/76B | €537,283 | €725,559 | +€188,277 | +35.0% |
| Recurring financial income | 75 | €537,283 | €725,559 | +€188,277 | +35.0% |
| Financial charges | 65/66B | €4,418 | €117,953 | +€113,534 | +2569.7% |
| Recurring financial charges | 65 | €4,418 | €117,953 | +€113,534 | +2569.7% |
| Profit (loss) for the period before taxes | 9903 | €459,599 | €509,556 | +€49,956 | +10.9% |
| Income taxes | 67/77 | €89,487 | €51,399 | -€38,089 | -42.6% |
| Profit (loss) for the period | 9904 | €370,112 | €458,157 | +€88,045 | +23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €370,112 | €458,157 | +€88,045 | +23.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 December 2024 and 30 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.