TRANSAL: 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.
TRANSAL
Largest movements
- Tangible fixed assets +€31,430
up €31,430 (+203.8%), from €15,424 to €46,854
- Receivables within one year +€9,036
up €9,036 (+21.0%), from €43,098 to €52,133
of which Trade receivables: +€7,654
- Cash +€8,854
up €8,854 (+15.9%), from €55,620 to €64,474
mainly Net result for the year (+€25,336) and Depreciation (+€21,134)
- Reserves +€25,000
up €25,000 (+60.4%), from €41,359 to €66,359
- Debts after one year +€14,101
up €14,101 (+66.4%), from €21,244 to €35,346
- Current portion of long-term debt +€8,541
up €8,541 (+95.7%), from €8,925 to €17,466
- Gross operating margin +€35,217
up €35,217 (+65.4%), from €53,856 to €89,073
- Staff costs +€16,214
up €16,214 (+174.7%), from €9,279 to €25,494
- Depreciation +€8,443
up €8,443 (+66.5%), from €12,691 to €21,134
- Taxes +€4,123
up €4,123 (+73.0%), from €5,646 to €9,769
- Financial income -€2,550
down €2,550 (-64.1%), from €3,979 to €1,429
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 | €115,285 | €163,461 | +€48,175 | +41.8% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €15,424 | €46,854 | +€31,430 | +203.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €15,424 | €46,854 | +€31,430 | +203.8% |
| Furniture and vehicles | 24 | €15,424 | €46,854 | +€31,430 | +203.8% |
| Current assets | 29/58 | €99,862 | €116,607 | +€16,745 | +16.8% |
| Amounts receivable within one year | 40/41 | €43,098 | €52,133 | +€9,036 | +21.0% |
| Trade receivables | 40 | €17,572 | €25,227 | +€7,654 | +43.6% |
| Other amounts receivable | 41 | €25,525 | €26,907 | +€1,381 | +5.4% |
| Cash at bank and in hand | 54/58 | €55,620 | €64,474 | +€8,854 | +15.9% |
| Deferred charges and accrued income | 490/1 | €1,144 | - | -€1,144 | |
| Total equity and liabilities | 10/49 | €115,285 | €163,461 | +€48,175 | +41.8% |
| Equity | 10/15 | €63,118 | €88,453 | +€25,336 | +40.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €41,359 | €66,359 | +€25,000 | +60.4% |
| Distributable reserves | 133 | €41,359 | €66,359 | +€25,000 | +60.4% |
| Profit (loss) carried forward | 14 | €3,167 | €3,502 | +€336 | +10.6% |
| Amounts payable | 17/49 | €52,167 | €75,007 | +€22,840 | +43.8% |
| Amounts payable after more than one year | 17 | €21,244 | €35,346 | +€14,101 | +66.4% |
| Financial debts | 170/4 | €21,244 | €35,346 | +€14,101 | +66.4% |
| Amounts payable within one year | 42/48 | €30,923 | €39,661 | +€8,738 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €8,925 | €17,466 | +€8,541 | +95.7% |
| Financial debts | 43 | €0 | - | = | |
| Trade debts | 44 | €1,190 | €1,746 | +€556 | +46.8% |
| Suppliers | 440/4 | €1,190 | €1,746 | +€556 | +46.8% |
| Taxes, remuneration and social security | 45 | €20,239 | €19,182 | -€1,056 | -5.2% |
| Taxes | 450/3 | €15,324 | €15,858 | +€534 | +3.5% |
| Remuneration and social security | 454/9 | €4,915 | €3,325 | -€1,590 | -32.4% |
| Other amounts payable | 47/48 | €569 | €1,266 | +€697 | +122.5% |
| Remuneration, social security and pensions | 62 | €9,279 | €25,494 | +€16,214 | +174.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,691 | €21,134 | +€8,443 | +66.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €767 | +€767 | |
| Other operating charges | 640/8 | €7,929 | €6,539 | -€1,390 | -17.5% |
| Gross operating margin | 9900 | €53,856 | €89,073 | +€35,217 | +65.4% |
| Operating profit (loss) | 9901 | €23,956 | €35,140 | +€11,183 | +46.7% |
| Financial income | 75/76B | €3,979 | €1,429 | -€2,550 | -64.1% |
| Recurring financial income | 75 | €3,979 | €1,429 | -€2,550 | -64.1% |
| Financial charges | 65/66B | €1,616 | €1,465 | -€152 | -9.4% |
| Recurring financial charges | 65 | €1,616 | €1,465 | -€152 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €26,319 | €35,104 | +€8,786 | +33.4% |
| Income taxes | 67/77 | €5,646 | €9,769 | +€4,123 | +73.0% |
| Profit (loss) for the period | 9904 | €20,673 | €25,336 | +€4,662 | +22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €20,673 | €25,336 | +€4,662 | +22.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.