TRANSCODE: 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.
TRANSCODE
Largest movements
- Cash -€58,123
down €58,123 (-40.5%), from €143,452 to €85,330
mainly Contributions, distributions and other (-€56,988) and Receivables within one year (-€28,867)
- Receivables within one year +€28,867
up €28,867 (+465.6%), from €6,200 to €35,067
of which Trade receivables: +€28,283
- Tangible fixed assets -€6,501
down €6,501 (-34.5%), from €18,833 to €12,332
of which Furniture and vehicles: -€4,161
- Reserves -€47,984
down €47,984 (-34.3%), from €139,823 to €91,839
of which Distributable reserves: -€47,984
- Tax, wage and social debts +€6,400
up €6,400 (+39.2%), from €16,317 to €22,718
of which Taxes: +€6,400
- Other debts +€6,049
up €6,049 (+12.6%), from €48,090 to €54,139
- Gross operating margin -€13,449
down €13,449 (-39.3%), from €34,183 to €20,734
- Taxes -€3,978
down €3,978 (-52.0%), from €7,642 to €3,665
- Financial charges +€612
up €612 (+1753.5%), from €35 to €647
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 | €218,485 | €182,729 | -€35,757 | -16.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €18,833 | €12,332 | -€6,501 | -34.5% |
| Tangible fixed assets | 22/27 | €18,833 | €12,332 | -€6,501 | -34.5% |
| Plant, machinery and equipment | 23 | €11,631 | €9,291 | -€2,340 | -20.1% |
| Furniture and vehicles | 24 | €7,202 | €3,041 | -€4,161 | -57.8% |
| Current assets | 29/58 | €199,653 | €170,397 | -€29,256 | -14.7% |
| Amounts receivable within one year | 40/41 | €6,200 | €35,067 | +€28,867 | +465.6% |
| Trade receivables | 40 | €3,899 | €32,182 | +€28,283 | +725.4% |
| Other amounts receivable | 41 | €2,301 | €2,885 | +€584 | +25.4% |
| Current investments | 50/53 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €143,452 | €85,330 | -€58,123 | -40.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €218,485 | €182,729 | -€35,757 | -16.4% |
| Equity | 10/15 | €152,223 | €104,239 | -€47,984 | -31.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €139,823 | €91,839 | -€47,984 | -34.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,711 | €5,711 | = | 0.0% |
| Distributable reserves | 133 | €132,252 | €84,268 | -€47,984 | -36.3% |
| Amounts payable | 17/49 | €66,263 | €78,490 | +€12,227 | +18.5% |
| Amounts payable within one year | 42/48 | €66,263 | €78,490 | +€12,227 | +18.5% |
| Trade debts | 44 | €1,855 | €1,634 | -€222 | -11.9% |
| Suppliers | 440/4 | €1,855 | €1,634 | -€222 | -11.9% |
| Taxes, remuneration and social security | 45 | €16,317 | €22,718 | +€6,400 | +39.2% |
| Taxes | 450/3 | €16,317 | €22,718 | +€6,400 | +39.2% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €48,090 | €54,139 | +€6,049 | +12.6% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,070 | €7,352 | +€282 | +4.0% |
| Other operating charges | 640/8 | - | €101 | +€101 | |
| Gross operating margin | 9900 | €34,183 | €20,734 | -€13,449 | -39.3% |
| Operating profit (loss) | 9901 | €27,113 | €13,281 | -€13,832 | -51.0% |
| Financial income | 75/76B | - | €34 | +€34 | |
| Recurring financial income | 75 | - | €34 | +€34 | |
| Financial charges | 65/66B | €35 | €647 | +€612 | +1753.5% |
| Recurring financial charges | 65 | €35 | €647 | +€612 | +1753.5% |
| Profit (loss) for the period before taxes | 9903 | €27,078 | €12,669 | -€14,410 | -53.2% |
| Income taxes | 67/77 | €7,642 | €3,665 | -€3,978 | -52.0% |
| Profit (loss) for the period | 9904 | €19,436 | €9,004 | -€10,432 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,436 | €9,004 | -€10,432 | -53.7% |
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 28 September 2026 via checked.be.