TRANSBELGIUM: 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.
TRANSBELGIUM
Largest movements
- Tangible fixed assets +€390,929
up €390,929 (+258.3%), from €151,319 to €542,249
- Receivables within one year +€10,364
up €10,364 (+731.5%), from €1,417 to €11,781
of which Trade receivables: +€8,364
- Cash -€9,085
down €9,085 (-50.7%), from €17,903 to €8,818
mainly Investment in fixed assets (net) (-€424,759) and Net result for the year (-€32,377)
- Debts after one year +€352,378
up €352,378 (+326.3%), from €107,981 to €460,359
of which Financial debts: +€332,378
- Other debts +€51,900
up €51,900 (+233.0%), from €22,278 to €74,178
- Profit (loss) carried forward -€23,955
new in 2025: -€23,955
- Current portion of long-term debt +€20,203
up €20,203 (+202.4%), from €9,983 to €30,185
- Reserves -€8,422
down €8,422 (-81.9%), from €10,282 to €1,860
of which Distributable reserves: -€8,422
- Depreciation +€26,790
up €26,790 (+380.5%), from €7,040 to €33,830
- Financial charges +€10,097
up €10,097 (+272.4%), from €3,707 to €13,804
- Other operating charges +€1,949
up €1,949 (+82.9%), from €2,352 to €4,301
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 | €170,639 | €562,848 | +€392,209 | +229.8% |
| Fixed assets | 21/28 | €151,319 | €542,249 | +€390,929 | +258.3% |
| Tangible fixed assets | 22/27 | €151,319 | €542,249 | +€390,929 | +258.3% |
| Land and buildings | 22 | €151,319 | €542,249 | +€390,929 | +258.3% |
| Current assets | 29/58 | €19,320 | €20,599 | +€1,279 | +6.6% |
| Amounts receivable within one year | 40/41 | €1,417 | €11,781 | +€10,364 | +731.5% |
| Trade receivables | 40 | €1,417 | €9,781 | +€8,364 | +590.3% |
| Other amounts receivable | 41 | €0 | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €17,903 | €8,818 | -€9,085 | -50.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €170,639 | €562,848 | +€392,209 | +229.8% |
| Equity | 10/15 | €28,882 | -€3,495 | -€32,377 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,282 | €1,860 | -€8,422 | -81.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €8,422 | €0 | -€8,422 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€23,955 | -€23,955 | |
| Amounts payable | 17/49 | €141,757 | €566,342 | +€424,585 | +299.5% |
| Amounts payable after more than one year | 17 | €107,981 | €460,359 | +€352,378 | +326.3% |
| Financial debts | 170/4 | €107,981 | €440,359 | +€332,378 | +307.8% |
| Other amounts payable | 178/9 | - | €20,000 | +€20,000 | |
| Amounts payable within one year | 42/48 | €33,776 | €105,984 | +€72,207 | +213.8% |
| Current portion of amounts payable after more than one year | 42 | €9,983 | €30,185 | +€20,203 | +202.4% |
| Trade debts | 44 | €1,499 | €1,529 | +€29 | +2.0% |
| Suppliers | 440/4 | €1,499 | €1,529 | +€29 | +2.0% |
| Taxes, remuneration and social security | 45 | €16 | €91 | +€75 | +472.4% |
| Taxes | 450/3 | €16 | €91 | +€75 | +472.4% |
| Other amounts payable | 47/48 | €22,278 | €74,178 | +€51,900 | +233.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,040 | €33,830 | +€26,790 | +380.5% |
| Other operating charges | 640/8 | €2,352 | €4,301 | +€1,949 | +82.9% |
| Gross operating margin | 9900 | €19,409 | €19,558 | +€149 | +0.8% |
| Operating profit (loss) | 9901 | €10,017 | -€18,573 | -€28,590 | |
| Financial charges | 65/66B | €3,707 | €13,804 | +€10,097 | +272.4% |
| Recurring financial charges | 65 | €3,707 | €13,804 | +€10,097 | +272.4% |
| Profit (loss) for the period before taxes | 9903 | €6,310 | -€32,377 | -€38,687 | |
| Profit (loss) for the period | 9904 | €6,310 | -€32,377 | -€38,687 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,310 | -€32,377 | -€38,687 |
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 12 October 2026 via checked.be.