Transdeco: 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.
Transdeco
Largest movements
- Cash +€1.8m
up €1.8m (+463.5%), from €392,862 to €2.2m
mainly Depreciation (+€1.7m) and Current investments (+€975,000)
- Current investments -€975,000
down €975,000 (-100.0%), from €975,000 to €0
- Tangible fixed assets -€582,271
down €582,271 (-20.3%), from €2.9m to €2.3m
of which Furniture and vehicles: -€582,271
- Receivables within one year +€75,477
up €75,477 (+12.6%), from €598,220 to €673,697
of which Trade receivables: +€61,713
- Reserves +€3.6m
up €3.6m (+264.6%), from €1.3m to €4.9m
of which Distributable reserves: +€3.4m
- Profit (loss) carried forward -€3.4m
down €3.4m (-100.0%), from €3.4m to €0
- Trade debts +€195,608
up €195,608 (+627.8%), from €31,156 to €226,764
- Gross operating margin +€87,898
up €87,898 (+4.2%), from €2.1m to €2.2m
- Other operating charges -€44,059
down €44,059 (-34.2%), from €128,997 to €84,938
- Depreciation -€40,566
down €40,566 (-2.3%), from €1.7m to €1.7m
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 | €4,861,289 | €5,220,697 | +€359,408 | +7.4% |
| Fixed assets | 21/28 | €2,872,688 | €2,296,088 | -€576,601 | -20.1% |
| Tangible fixed assets | 22/27 | €2,870,933 | €2,288,663 | -€582,271 | -20.3% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,870,933 | €2,288,663 | -€582,271 | -20.3% |
| Financial fixed assets | 28 | €1,755 | €7,425 | +€5,670 | +323.1% |
| Current assets | 29/58 | €1,988,601 | €2,924,609 | +€936,009 | +47.1% |
| Amounts receivable within one year | 40/41 | €598,220 | €673,697 | +€75,477 | +12.6% |
| Trade receivables | 40 | €197,635 | €259,348 | +€61,713 | +31.2% |
| Other amounts receivable | 41 | €400,585 | €414,350 | +€13,765 | +3.4% |
| Current investments | 50/53 | €975,000 | €0 | -€975,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €392,862 | €2,213,679 | +€1.8m | +463.5% |
| Deferred charges and accrued income | 490/1 | €22,518 | €37,233 | +€14,715 | +65.3% |
| Total equity and liabilities | 10/49 | €4,861,289 | €5,220,697 | +€359,408 | +7.4% |
| Equity | 10/15 | €4,722,738 | €4,929,472 | +€206,734 | +4.4% |
| Contributions | 10/11 | €15,816 | €15,816 | = | 0.0% |
| Reserves | 13 | €1,347,790 | €4,913,656 | +€3.6m | +264.6% |
| Tax-exempt reserves | 132 | €1,346,208 | €1,517,720 | +€171,512 | +12.7% |
| Distributable reserves | 133 | €1,582 | €3,395,936 | +€3.4m | +214612.5% |
| Profit (loss) carried forward | 14 | €3,359,132 | €0 | -€3.4m | -100.0% |
| Provisions and deferred taxes | 16 | €14,017 | €47,938 | +€33,921 | +242.0% |
| Deferred taxes | 168 | €14,017 | €47,938 | +€33,921 | +242.0% |
| Amounts payable | 17/49 | €124,534 | €243,287 | +€118,754 | +95.4% |
| Amounts payable within one year | 42/48 | €119,800 | €243,287 | +€123,488 | +103.1% |
| Trade debts | 44 | €31,156 | €226,764 | +€195,608 | +627.8% |
| Suppliers | 440/4 | €31,156 | €226,764 | +€195,608 | +627.8% |
| Taxes, remuneration and social security | 45 | €55,301 | €16,523 | -€38,778 | -70.1% |
| Taxes | 450/3 | €30,135 | €504 | -€29,631 | -98.3% |
| Remuneration and social security | 454/9 | €25,166 | €16,019 | -€9,147 | -36.3% |
| Other amounts payable | 47/48 | €33,343 | €0 | -€33,343 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,734 | €0 | -€4,734 | -100.0% |
| Non-recurring operating income | 76A | €210,328 | €310,894 | +€100,566 | +47.8% |
| Remuneration, social security and pensions | 62 | €185,007 | €185,190 | +€183 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,728,749 | €1,688,183 | -€40,566 | -2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€513 | -€513 | |
| Other operating charges | 640/8 | €128,997 | €84,938 | -€44,059 | -34.2% |
| Non-recurring operating charges | 66A | €54,250 | €30,063 | -€24,187 | -44.6% |
| Gross operating margin | 9900 | €2,081,777 | €2,169,675 | +€87,898 | +4.2% |
| Operating profit (loss) | 9901 | -€15,225 | €181,815 | +€197,040 | |
| Financial income | 75/76B | €53,444 | €59,728 | +€6,283 | +11.8% |
| Recurring financial income | 75 | €53,444 | €59,728 | +€6,283 | +11.8% |
| Financial charges | 65/66B | €3,826 | €318 | -€3,509 | -91.7% |
| Recurring financial charges | 65 | €3,826 | €318 | -€3,509 | -91.7% |
| Profit (loss) for the period before taxes | 9903 | €34,392 | €241,225 | +€206,832 | +601.4% |
| Transfer from deferred taxes | 780 | €8,162 | €11,517 | +€3,355 | +41.1% |
| Transfer to deferred taxes | 680 | €0 | €45,438 | +€45,438 | |
| Income taxes | 67/77 | €601 | €571 | -€31 | -5.1% |
| Profit (loss) for the period | 9904 | €41,954 | €206,734 | +€164,780 | +392.8% |
| Transfer from tax-exempt reserves | 789 | €24,487 | €49,926 | +€25,439 | +103.9% |
| Transfer to tax-exempt reserves | 689 | €27,500 | €221,438 | +€193,938 | +705.2% |
| Profit (loss) for the period to be appropriated | 9905 | €38,941 | €35,222 | -€3,719 | -9.5% |
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 2 October 2026 via checked.be.