TRANSDEMA: 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.
TRANSDEMA
Largest movements
- Cash +€545,063
up €545,063 (+161.4%), from €337,639 to €882,702
mainly Depreciation (+€361,585) and Receivables within one year (+€191,760)
- Receivables within one year -€191,760
down €191,760 (-33.3%), from €575,115 to €383,354
of which Trade receivables: -€161,210
- Current investments -€150,898
down €150,898 (-100.0%), from €150,898 to €0
- Tangible fixed assets +€88,455
up €88,455 (+8.2%), from €1.1m to €1.2m
of which Furniture and vehicles: +€91,799
- Trade debts +€138,344
up €138,344 (+49.7%), from €278,479 to €416,823
- Reserves +€86,121
up €86,121 (+12.3%), from €697,621 to €783,743
of which Distributable reserves: +€77,454
- Debts after one year +€43,618
up €43,618 (+6.4%), from €679,593 to €723,211
- Other debts +€25,690
new in 2025: €25,690
- Gross operating margin -€98,826
down €98,826 (-5.3%), from €1.9m to €1.8m
- Staff costs -€95,277
down €95,277 (-8.2%), from €1.2m to €1.1m
- Depreciation +€54,504
up €54,504 (+17.7%), from €307,081 to €361,585
- Other operating charges -€28,790
down €28,790 (-12.6%), from €228,103 to €199,313
- Taxes -€21,813
down €21,813 (-45.1%), from €48,336 to €26,523
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 | €2,159,000 | €2,464,172 | +€305,172 | +14.1% |
| Fixed assets | 21/28 | €1,078,218 | €1,166,674 | +€88,455 | +8.2% |
| Tangible fixed assets | 22/27 | €1,078,218 | €1,166,674 | +€88,455 | +8.2% |
| Land and buildings | 22 | €155,749 | €143,864 | -€11,884 | -7.6% |
| Plant, machinery and equipment | 23 | €7,951 | €1,337 | -€6,614 | -83.2% |
| Furniture and vehicles | 24 | €453,587 | €545,386 | +€91,799 | +20.2% |
| Leasing and similar rights | 25 | €460,932 | €476,087 | +€15,155 | +3.3% |
| Current assets | 29/58 | €1,080,782 | €1,297,499 | +€216,717 | +20.1% |
| Stocks and contracts in progress | 3 | €14,520 | €31,443 | +€16,923 | +116.5% |
| Stocks | 30/36 | €14,520 | €31,443 | +€16,923 | +116.5% |
| Amounts receivable within one year | 40/41 | €575,115 | €383,354 | -€191,760 | -33.3% |
| Trade receivables | 40 | €505,719 | €344,509 | -€161,210 | -31.9% |
| Other amounts receivable | 41 | €69,396 | €38,845 | -€30,551 | -44.0% |
| Current investments | 50/53 | €150,898 | €0 | -€150,898 | -100.0% |
| Cash at bank and in hand | 54/58 | €337,639 | €882,702 | +€545,063 | +161.4% |
| Deferred charges and accrued income | 490/1 | €2,611 | €0 | -€2,611 | -100.0% |
| Total equity and liabilities | 10/49 | €2,159,000 | €2,464,172 | +€305,172 | +14.1% |
| Equity | 10/15 | €717,621 | €803,743 | +€86,121 | +12.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €697,621 | €783,743 | +€86,121 | +12.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €49,380 | €58,047 | +€8,668 | +17.6% |
| Distributable reserves | 133 | €648,242 | €725,695 | +€77,454 | +11.9% |
| Provisions and deferred taxes | 16 | €4,407 | €6,574 | +€2,167 | +49.2% |
| Deferred taxes | 168 | €4,407 | €6,574 | +€2,167 | +49.2% |
| Amounts payable | 17/49 | €1,436,971 | €1,653,855 | +€216,884 | +15.1% |
| Amounts payable after more than one year | 17 | €679,593 | €723,211 | +€43,618 | +6.4% |
| Financial debts | 170/4 | €679,593 | €723,211 | +€43,618 | +6.4% |
| Amounts payable within one year | 42/48 | €757,379 | €930,644 | +€173,266 | +22.9% |
| Current portion of amounts payable after more than one year | 42 | €338,114 | €347,225 | +€9,112 | +2.7% |
| Trade debts | 44 | €278,479 | €416,823 | +€138,344 | +49.7% |
| Suppliers | 440/4 | €278,479 | €416,823 | +€138,344 | +49.7% |
| Taxes, remuneration and social security | 45 | €140,786 | €140,907 | +€121 | +0.1% |
| Taxes | 450/3 | €28,454 | €37,609 | +€9,155 | +32.2% |
| Remuneration and social security | 454/9 | €112,332 | €103,298 | -€9,034 | -8.0% |
| Other amounts payable | 47/48 | - | €25,690 | +€25,690 | |
| Remuneration, social security and pensions | 62 | €1,157,033 | €1,061,756 | -€95,277 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €307,081 | €361,585 | +€54,504 | +17.7% |
| Other operating charges | 640/8 | €228,103 | €199,313 | -€28,790 | -12.6% |
| Gross operating margin | 9900 | €1,863,772 | €1,764,946 | -€98,826 | -5.3% |
| Operating profit (loss) | 9901 | €171,556 | €142,293 | -€29,263 | -17.1% |
| Financial income | 75/76B | €1,967 | €7,310 | +€5,344 | +271.7% |
| Recurring financial income | 75 | €1,967 | €7,310 | +€5,344 | +271.7% |
| Financial charges | 65/66B | €31,111 | €34,792 | +€3,680 | +11.8% |
| Recurring financial charges | 65 | €31,111 | €34,792 | +€3,680 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €142,411 | €114,811 | -€27,600 | -19.4% |
| Transfer from deferred taxes | 780 | €3,560 | €3,633 | +€73 | +2.1% |
| Transfer to deferred taxes | 680 | - | €5,800 | +€5,800 | |
| Income taxes | 67/77 | €48,336 | €26,523 | -€21,813 | -45.1% |
| Profit (loss) for the period | 9904 | €97,635 | €86,121 | -€11,514 | -11.8% |
| Transfer from tax-exempt reserves | 789 | €14,240 | €14,532 | +€292 | +2.1% |
| Transfer to tax-exempt reserves | 689 | - | €23,200 | +€23,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €111,875 | €77,454 | -€34,421 | -30.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.