TRANSFORM & SENS: 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.
TRANSFORM & SENS
Largest movements
- Intangible fixed assets -€20,390
down €20,390 (-29.6%), from €68,932 to €48,542
- Cash +€10,572
up €10,572 (+4.3%), from €246,347 to €256,918
mainly Net result for the year (+€37,630) and Depreciation (+€24,093)
- Receivables within one year -€10,295
down €10,295 (-30.0%), from €34,362 to €24,067
of which Trade receivables: -€13,775
- Tangible fixed assets -€3,703
down €3,703 (-58.4%), from €6,343 to €2,640
of which Other tangible fixed assets: -€2,475
- Profit (loss) carried forward +€37,630
up €37,630 (+25.4%), from €147,868 to €185,498
- Other debts -€20,807
down €20,807 (-14.7%), from €141,712 to €120,905
- Trade debts -€16,903
down €16,903 (-96.0%), from €17,614 to €711
- Current portion of long-term debt -€11,215
down €11,215 (-74.7%), from €15,010 to €3,795
- Tax, wage and social debts -€8,673
down €8,673 (-70.1%), from €12,368 to €3,695
of which Taxes: -€7,173
- Gross operating margin -€8,524
down €8,524 (-9.5%), from €89,809 to €81,286
- Taxes -€4,436
down €4,436 (-29.5%), from €15,059 to €10,624
- Financial charges -€2,273
down €2,273 (-21.0%), from €10,812 to €8,539
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 | €357,123 | €333,359 | -€23,763 | -6.7% |
| Fixed assets | 21/28 | €75,424 | €51,332 | -€24,093 | -31.9% |
| Intangible fixed assets | 21 | €68,932 | €48,542 | -€20,390 | -29.6% |
| Tangible fixed assets | 22/27 | €6,343 | €2,640 | -€3,703 | -58.4% |
| Furniture and vehicles | 24 | €2,836 | €1,608 | -€1,228 | -43.3% |
| Other tangible fixed assets | 26 | €3,506 | €1,031 | -€2,475 | -70.6% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €281,698 | €282,028 | +€330 | +0.1% |
| Amounts receivable within one year | 40/41 | €34,362 | €24,067 | -€10,295 | -30.0% |
| Trade receivables | 40 | €31,465 | €17,691 | -€13,775 | -43.8% |
| Other amounts receivable | 41 | €2,897 | €6,376 | +€3,480 | +120.1% |
| Cash at bank and in hand | 54/58 | €246,347 | €256,918 | +€10,572 | +4.3% |
| Deferred charges and accrued income | 490/1 | €990 | €1,042 | +€53 | +5.3% |
| Total equity and liabilities | 10/49 | €357,123 | €333,359 | -€23,763 | -6.7% |
| Equity | 10/15 | €166,623 | €204,254 | +€37,630 | +22.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €156 | €156 | = | 0.0% |
| Tax-exempt reserves | 132 | €156 | €156 | = | 0.0% |
| Profit (loss) carried forward | 14 | €147,868 | €185,498 | +€37,630 | +25.4% |
| Amounts payable | 17/49 | €190,499 | €129,106 | -€61,394 | -32.2% |
| Amounts payable after more than one year | 17 | €3,795 | €0 | -€3,795 | -100.0% |
| Financial debts | 170/4 | €3,795 | €0 | -€3,795 | -100.0% |
| Amounts payable within one year | 42/48 | €186,704 | €129,106 | -€57,598 | -30.9% |
| Current portion of amounts payable after more than one year | 42 | €15,010 | €3,795 | -€11,215 | -74.7% |
| Trade debts | 44 | €17,614 | €711 | -€16,903 | -96.0% |
| Suppliers | 440/4 | €17,614 | €711 | -€16,903 | -96.0% |
| Taxes, remuneration and social security | 45 | €12,368 | €3,695 | -€8,673 | -70.1% |
| Taxes | 450/3 | €10,868 | €3,695 | -€7,173 | -66.0% |
| Remuneration and social security | 454/9 | €1,500 | €0 | -€1,500 | -100.0% |
| Other amounts payable | 47/48 | €141,712 | €120,905 | -€20,807 | -14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,613 | €24,093 | +€480 | +2.0% |
| Other operating charges | 640/8 | €577 | €400 | -€177 | -30.7% |
| Gross operating margin | 9900 | €89,809 | €81,286 | -€8,524 | -9.5% |
| Operating profit (loss) | 9901 | €65,620 | €56,793 | -€8,827 | -13.5% |
| Financial income | 75/76B | €11 | €0 | -€11 | -99.8% |
| Recurring financial income | 75 | €11 | €0 | -€11 | -99.8% |
| Financial charges | 65/66B | €10,812 | €8,539 | -€2,273 | -21.0% |
| Recurring financial charges | 65 | €10,812 | €8,539 | -€2,273 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €54,819 | €48,254 | -€6,565 | -12.0% |
| Income taxes | 67/77 | €15,059 | €10,624 | -€4,436 | -29.5% |
| Profit (loss) for the period | 9904 | €39,759 | €37,630 | -€2,129 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,759 | €37,630 | -€2,129 | -5.4% |
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 6 October 2026 via checked.be.