Transbel: 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.
Transbel
Largest movements
- Cash -€13,492
down €13,492 (-10.7%), from €125,826 to €112,334
mainly Investment in fixed assets (net) (-€57,949) and Net result for the year (-€26,089)
- Receivables within one year +€6,349
up €6,349 (+4.3%), from €148,845 to €155,194
of which Other amounts receivable: +€11,595
- Reserves -€26,089
down €26,089 (-6.0%), from €435,868 to €409,779
- Trade debts +€11,249
up €11,249 (+109.0%), from €10,318 to €21,568
- Gross operating margin +€12,540
up €12,540 (+4.9%), from €254,869 to €267,409
- Staff costs +€9,297
up €9,297 (+4.3%), from €217,701 to €226,997
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 | €516,393 | €506,906 | -€9,487 | -1.8% |
| Fixed assets | 21/28 | €132,427 | €132,496 | +€70 | +0.1% |
| Tangible fixed assets | 22/27 | €131,572 | €131,506 | -€65 | 0.0% |
| Plant, machinery and equipment | 23 | €5,037 | €3,564 | -€1,473 | -29.2% |
| Furniture and vehicles | 24 | €115,821 | €100,491 | -€15,330 | -13.2% |
| Other tangible fixed assets | 26 | €10,714 | €27,451 | +€16,737 | +156.2% |
| Financial fixed assets | 28 | €855 | €990 | +€135 | +15.8% |
| Current assets | 29/58 | €383,967 | €374,410 | -€9,557 | -2.5% |
| Amounts receivable within one year | 40/41 | €148,845 | €155,194 | +€6,349 | +4.3% |
| Trade receivables | 40 | €136,803 | €131,557 | -€5,246 | -3.8% |
| Other amounts receivable | 41 | €12,042 | €23,637 | +€11,595 | +96.3% |
| Current investments | 50/53 | €100,108 | €100,108 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €125,826 | €112,334 | -€13,492 | -10.7% |
| Deferred charges and accrued income | 490/1 | €9,187 | €6,774 | -€2,413 | -26.3% |
| Total equity and liabilities | 10/49 | €516,393 | €506,906 | -€9,487 | -1.8% |
| Equity | 10/15 | €455,868 | €429,779 | -€26,089 | -5.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €435,868 | €409,779 | -€26,089 | -6.0% |
| Distributable reserves | 133 | €435,868 | €409,779 | -€26,089 | -6.0% |
| Amounts payable | 17/49 | €60,525 | €77,127 | +€16,602 | +27.4% |
| Amounts payable within one year | 42/48 | €59,186 | €75,901 | +€16,714 | +28.2% |
| Trade debts | 44 | €10,318 | €21,568 | +€11,249 | +109.0% |
| Suppliers | 440/4 | €10,318 | €21,568 | +€11,249 | +109.0% |
| Taxes, remuneration and social security | 45 | €32,351 | €36,795 | +€4,443 | +13.7% |
| Taxes | 450/3 | €11,245 | €14,909 | +€3,664 | +32.6% |
| Remuneration and social security | 454/9 | €21,106 | €21,886 | +€779 | +3.7% |
| Other amounts payable | 47/48 | €16,517 | €17,538 | +€1,022 | +6.2% |
| Accrued charges and deferred income | 492/3 | €1,339 | €1,226 | -€112 | -8.4% |
| Non-recurring operating income | 76A | €1,700 | - | -€1,700 | |
| Remuneration, social security and pensions | 62 | €217,701 | €226,997 | +€9,297 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,747 | €57,879 | +€2,133 | +3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €423 | - | -€423 | |
| Other operating charges | 640/8 | €8,146 | €9,490 | +€1,344 | +16.5% |
| Gross operating margin | 9900 | €254,869 | €267,409 | +€12,540 | +4.9% |
| Operating profit (loss) | 9901 | -€27,148 | -€26,957 | +€190 | +0.7% |
| Financial income | 75/76B | €3,369 | €3,240 | -€129 | -3.8% |
| Recurring financial income | 75 | €3,369 | €3,240 | -€129 | -3.8% |
| Financial charges | 65/66B | €2,465 | €2,206 | -€258 | -10.5% |
| Recurring financial charges | 65 | €2,465 | €2,206 | -€258 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€26,243 | -€25,924 | +€319 | +1.2% |
| Income taxes | 67/77 | €128 | €165 | +€37 | +28.9% |
| Profit (loss) for the period | 9904 | -€26,371 | -€26,089 | +€282 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,371 | -€26,089 | +€282 | +1.1% |
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 4 October 2026 via checked.be.