TRANSFORMD: 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.
TRANSFORMD
Largest movements
- Cash +€102,968
up €102,968 (+165%), from €62,407 to €165,375
mainly Other debts (+€162,400) and Net result for the year (+€152,908)
- Receivables within one year +€30,254
up €30,254 (+36.8%), from €82,184 to €112,439
of which Trade receivables: +€21,464
- Tangible fixed assets -€27,541
down €27,541 (-55.4%), from €49,753 to €22,212
of which Furniture and vehicles: -€34,384
- Deferred charges and accrued income -€24,251
down €24,251 (-43.8%), from €55,418 to €31,167
- Other debts +€162,400
up €162,400 (+11,895%), from €1,365 to €163,765
- Reserves -€88,746
down €88,746 (-43.2%), from €205,358 to €116,612
- Trade debts +€6,112
up €6,112 (+68.3%), from €8,951 to €15,063
- Gross operating margin +€96,243
up €96,243 (+61.6%), from €156,251 to €252,494
- Depreciation -€19,212
down €19,212 (-78.4%), from €24,496 to €5,285
- Taxes +€18,461
up €18,461 (+69.7%), from €26,501 to €44,962
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.
Derived cash bridge
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 | €249,802 | €331,232 | +€81,430 | +32.6% |
| Fixed assets | 21/28 | €49,793 | €22,252 | -€27,541 | -55.3% |
| Tangible fixed assets | 22/27 | €49,753 | €22,212 | -€27,541 | -55.4% |
| Plant, machinery and equipment | 23 | €5,788 | €4,423 | -€1,365 | -23.6% |
| Furniture and vehicles | 24 | €43,965 | €9,581 | -€34,384 | -78.2% |
| Other tangible fixed assets | 26 | - | €8,208 | +€8,208 | |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €200,009 | €308,980 | +€108,971 | +54.5% |
| Amounts receivable within one year | 40/41 | €82,184 | €112,439 | +€30,254 | +36.8% |
| Trade receivables | 40 | €75,368 | €96,833 | +€21,464 | +28.5% |
| Other amounts receivable | 41 | €6,816 | €15,606 | +€8,790 | +129% |
| Cash at bank and in hand | 54/58 | €62,407 | €165,375 | +€102,968 | +165% |
| Deferred charges and accrued income | 490/1 | €55,418 | €31,167 | -€24,251 | -43.8% |
| Total equity and liabilities | 10/49 | €249,802 | €331,232 | +€81,430 | +32.6% |
| Equity | 10/15 | €223,958 | €135,212 | -€88,746 | -39.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €205,358 | €116,612 | -€88,746 | -43.2% |
| Distributable reserves | 133 | €205,358 | €116,612 | -€88,746 | -43.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €25,844 | €196,020 | +€170,176 | +658% |
| Amounts payable within one year | 42/48 | €25,844 | €196,020 | +€170,176 | +658% |
| Trade debts | 44 | €8,951 | €15,063 | +€6,112 | +68.3% |
| Suppliers | 440/4 | €8,951 | €15,063 | +€6,112 | +68.3% |
| Taxes, remuneration and social security | 45 | €15,528 | €17,192 | +€1,664 | +10.7% |
| Taxes | 450/3 | €10,081 | €11,550 | +€1,470 | +14.6% |
| Remuneration and social security | 454/9 | €5,448 | €5,642 | +€194 | +3.6% |
| Other amounts payable | 47/48 | €1,365 | €163,765 | +€162,400 | +11,895% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €41,789 | €43,464 | +€1,674 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,496 | €5,285 | -€19,212 | -78.4% |
| Other operating charges | 640/8 | €3,474 | €1,604 | -€1,871 | -53.8% |
| Gross operating margin | 9900 | €156,251 | €252,494 | +€96,243 | +61.6% |
| Operating profit (loss) | 9901 | €86,491 | €202,142 | +€115,651 | +134% |
| Financial income | 75/76B | €115 | €237 | +€122 | +107% |
| Recurring financial income | 75 | €115 | €237 | +€122 | +107% |
| Financial charges | 65/66B | €3,886 | €4,508 | +€623 | +16.0% |
| Recurring financial charges | 65 | €3,886 | €4,508 | +€623 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €82,720 | €197,870 | +€115,150 | +139% |
| Income taxes | 67/77 | €26,501 | €44,962 | +€18,461 | +69.7% |
| Profit (loss) for the period | 9904 | €56,219 | €152,908 | +€96,689 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €56,219 | €152,908 | +€96,689 | +172% |
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 17 October 2026 via checked.be.