TRANSFAQUE: 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.
TRANSFAQUE
Largest movements
- Cash -€168,045
down €168,045 (-52.8%), from €318,098 to €150,053
mainly Investment in fixed assets (net) (-€126,794) and Trade debts (-€119,872)
- Receivables within one year +€72,461
up €72,461 (+14.8%), from €488,035 to €560,496
of which Other amounts receivable: +€59,742
- Current investments +€50,321
up €50,321 (+18.0%), from €279,195 to €329,516
- Tangible fixed assets +€33,852
up €33,852 (+14.4%), from €234,330 to €268,182
of which Furniture and vehicles: +€34,092
- Trade debts -€119,872
down €119,872 (-52.0%), from €230,641 to €110,769
- Debts after one year +€53,680
up €53,680 (+31.7%), from €169,192 to €222,872
of which Financial debts: +€54,112
- Reserves +€46,810
up €46,810 (+6.1%), from €773,653 to €820,462
- Current portion of long-term debt +€22,282
up €22,282 (+53.7%), from €41,492 to €63,775
- Staff costs +€138,745
up €138,745 (+22.5%), from €616,467 to €755,212
- Other operating charges -€54,841
down €54,841 (-60.6%), from €90,502 to €35,661
- Gross operating margin +€33,036
up €33,036 (+3.6%), from €922,528 to €955,564
- Taxes -€12,660
down €12,660 (-38.1%), from €33,245 to €20,585
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 | €1,343,230 | €1,341,817 | -€1,413 | -0.1% |
| Fixed assets | 21/28 | €237,208 | €273,004 | +€35,796 | +15.1% |
| Tangible fixed assets | 22/27 | €234,330 | €268,182 | +€33,852 | +14.4% |
| Plant, machinery and equipment | 23 | €347 | €107 | -€240 | -69.3% |
| Furniture and vehicles | 24 | €233,984 | €268,076 | +€34,092 | +14.6% |
| Financial fixed assets | 28 | €2,878 | €4,821 | +€1,944 | +67.5% |
| Current assets | 29/58 | €1,106,022 | €1,068,814 | -€37,208 | -3.4% |
| Amounts receivable within one year | 40/41 | €488,035 | €560,496 | +€72,461 | +14.8% |
| Trade receivables | 40 | €436,738 | €449,457 | +€12,719 | +2.9% |
| Other amounts receivable | 41 | €51,296 | €111,039 | +€59,742 | +116.5% |
| Current investments | 50/53 | €279,195 | €329,516 | +€50,321 | +18.0% |
| Cash at bank and in hand | 54/58 | €318,098 | €150,053 | -€168,045 | -52.8% |
| Deferred charges and accrued income | 490/1 | €20,694 | €28,749 | +€8,055 | +38.9% |
| Total equity and liabilities | 10/49 | €1,343,230 | €1,341,817 | -€1,413 | -0.1% |
| Equity | 10/15 | €800,921 | €847,731 | +€46,810 | +5.8% |
| Contributions | 10/11 | €27,268 | €27,268 | = | 0.0% |
| Reserves | 13 | €773,653 | €820,462 | +€46,810 | +6.1% |
| Distributable reserves | 133 | €773,653 | €820,462 | +€46,810 | +6.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €542,309 | €494,087 | -€48,222 | -8.9% |
| Amounts payable after more than one year | 17 | €169,192 | €222,872 | +€53,680 | +31.7% |
| Financial debts | 170/4 | €168,580 | €222,692 | +€54,112 | +32.1% |
| Trade debts | 175 | €612 | €180 | -€432 | -70.6% |
| Amounts payable within one year | 42/48 | €370,992 | €269,090 | -€101,902 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €41,492 | €63,775 | +€22,282 | +53.7% |
| Trade debts | 44 | €230,641 | €110,769 | -€119,872 | -52.0% |
| Suppliers | 440/4 | €230,641 | €110,769 | -€119,872 | -52.0% |
| Taxes, remuneration and social security | 45 | €86,708 | €87,714 | +€1,006 | +1.2% |
| Taxes | 450/3 | €28,814 | €20,747 | -€8,067 | -28.0% |
| Remuneration and social security | 454/9 | €57,895 | €66,967 | +€9,073 | +15.7% |
| Other amounts payable | 47/48 | €12,150 | €6,832 | -€5,318 | -43.8% |
| Accrued charges and deferred income | 492/3 | €2,125 | €2,125 | -€1 | 0.0% |
| Remuneration, social security and pensions | 62 | €616,467 | €755,212 | +€138,745 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,217 | €90,998 | -€8,219 | -8.3% |
| Other operating charges | 640/8 | €90,502 | €35,661 | -€54,841 | -60.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €922,528 | €955,564 | +€33,036 | +3.6% |
| Operating profit (loss) | 9901 | €116,343 | €73,694 | -€42,649 | -36.7% |
| Financial income | 75/76B | €13,835 | €6,379 | -€7,456 | -53.9% |
| Recurring financial income | 75 | €13,835 | €6,379 | -€7,456 | -53.9% |
| Financial charges | 65/66B | €11,324 | €12,678 | +€1,354 | +12.0% |
| Recurring financial charges | 65 | €11,324 | €12,678 | +€1,354 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €118,854 | €67,395 | -€51,460 | -43.3% |
| Income taxes | 67/77 | €33,245 | €20,585 | -€12,660 | -38.1% |
| Profit (loss) for the period | 9904 | €85,609 | €46,810 | -€38,800 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €85,609 | €46,810 | -€38,800 | -45.3% |
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.