Transformics: 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.
Transformics
Largest movements
- Financial fixed assets -€8.4m
down €8.4m (-50.1%), from €16.8m to €8.4m
of which Affiliated companies: -€8.5m
- Cash +€8.2m
up €8.2m (+62.8%), from €13.1m to €21.3m
mainly Tax, wage and social debts (+€17.0m) and Short-term financial debts (+€7.6m)
- Receivables within one year +€6.8m
up €6.8m (+48.9%), from €13.9m to €20.7m
of which Trade receivables: +€3.6m
- Intangible fixed assets +€5.3m
up €5.3m (+1112.5%), from €475,267 to €5.8m
- Tangible fixed assets +€674,252
up €674,252 (+31.1%), from €2.2m to €2.8m
of which Furniture and vehicles: +€428,893
- Tax, wage and social debts +€17.0m
up €17.0m (+84.8%), from €20.1m to €37.1m
of which Remuneration and social security: +€16.6m
- Other debts -€12.8m
down €12.8m (-96.4%), from €13.3m to €471,813
- Short-term financial debts +€7.6m
up €7.6m (+149.4%), from €5.1m to €12.7m
- Trade debts +€3.0m
up €3.0m (+46.2%), from €6.6m to €9.6m
- Profit (loss) carried forward -€2.3m
new in 2025: -€2.3m
- Staff costs +€90.8m
up €90.8m (+62.5%), from €145.4m to €236.2m
- Turnover +€83.6m
up €83.6m (+46.2%), from €180.7m to €264.2m
- Services and other goods +€9.2m
up €9.2m (+42.3%), from €21.9m to €31.1m
- Taxes -€3.8m
down €3.8m (-99.9%), from €3.8m to €2,923
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 | €46,562,736 | €59,210,124 | +€12.6m | +27.2% |
| Fixed assets | 21/28 | €19,485,676 | €17,013,311 | -€2.5m | -12.7% |
| Intangible fixed assets | 21 | €475,267 | €5,762,531 | +€5.3m | +1112.5% |
| Tangible fixed assets | 22/27 | €2,168,957 | €2,843,209 | +€674,252 | +31.1% |
| Furniture and vehicles | 24 | €1,996,383 | €2,425,276 | +€428,893 | +21.5% |
| Other tangible fixed assets | 26 | €172,574 | €417,932 | +€245,359 | +142.2% |
| Financial fixed assets | 28 | €16,841,452 | €8,407,572 | -€8.4m | -50.1% |
| Affiliated companies | 280/1 | €16,768,600 | €8,270,055 | -€8.5m | -50.7% |
| Participating interests | 280 | €16,768,600 | €8,270,055 | -€8.5m | -50.7% |
| Other financial fixed assets | 284/8 | €72,852 | €137,517 | +€64,665 | +88.8% |
| Amounts receivable and cash guarantees | 285/8 | €72,852 | €137,517 | +€64,665 | +88.8% |
| Current assets | 29/58 | €27,077,060 | €42,196,813 | +€15.1m | +55.8% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €13,909,384 | €20,713,254 | +€6.8m | +48.9% |
| Trade receivables | 40 | €8,985,931 | €12,556,943 | +€3.6m | +39.7% |
| Other amounts receivable | 41 | €4,923,453 | €8,156,311 | +€3.2m | +65.7% |
| Cash at bank and in hand | 54/58 | €13,091,841 | €21,310,671 | +€8.2m | +62.8% |
| Deferred charges and accrued income | 490/1 | €75,836 | €172,888 | +€97,052 | +128.0% |
| Total equity and liabilities | 10/49 | €46,562,736 | €59,210,124 | +€12.6m | +27.2% |
| Equity | 10/15 | €1,565,383 | -€651,688 | -€2.2m | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,503,883 | €1,613,917 | +€110,034 | +7.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,529 | €135,564 | +€110,034 | +431.0% |
| Distributable reserves | 133 | €1,472,203 | €1,472,203 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€2,327,105 | -€2.3m | |
| Amounts payable | 17/49 | €44,997,354 | €59,861,812 | +€14.9m | +33.0% |
| Amounts payable within one year | 42/48 | €44,997,354 | €59,861,812 | +€14.9m | +33.0% |
| Financial debts | 43 | €5,077,397 | €12,663,769 | +€7.6m | +149.4% |
| Credit institutions | 430/8 | €5,077,397 | €12,663,769 | +€7.6m | +149.4% |
| Trade debts | 44 | €6,569,757 | €9,603,386 | +€3.0m | +46.2% |
| Suppliers | 440/4 | €6,569,757 | €9,603,386 | +€3.0m | +46.2% |
| Taxes, remuneration and social security | 45 | €20,085,512 | €37,122,844 | +€17.0m | +84.8% |
| Taxes | 450/3 | €158,876 | €575,545 | +€416,669 | +262.3% |
| Remuneration and social security | 454/9 | €19,926,635 | €36,547,299 | +€16.6m | +83.4% |
| Other amounts payable | 47/48 | €13,264,688 | €471,813 | -€12.8m | -96.4% |
| Operating income | 70/76A | €183,598,380 | €268,494,127 | +€84.9m | +46.2% |
| Turnover | 70 | €180,677,401 | €264,237,420 | +€83.6m | +46.2% |
| Other operating income | 74 | €2,836,901 | €3,101,777 | +€264,876 | +9.3% |
| Non-recurring operating income | 76A | €84,077 | €1,154,931 | +€1.1m | +1273.7% |
| Operating charges | 60/66A | €169,393,225 | €270,746,230 | +€101.4m | +59.8% |
| Services and other goods | 61 | €21,858,979 | €31,099,175 | +€9.2m | +42.3% |
| Remuneration, social security and pensions | 62 | €145,388,464 | €236,191,617 | +€90.8m | +62.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,857,592 | €2,858,855 | +€1.0m | +53.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €106,127 | -€128,942 | -€235,068 | |
| Other operating charges | 640/8 | €182,064 | €427,919 | +€245,855 | +135.0% |
| Non-recurring operating charges | 66A | - | €297,606 | +€297,606 | |
| Operating profit (loss) | 9901 | €14,205,154 | -€2,252,103 | -€16.5m | |
| Financial income | 75/76B | €2,900,458 | €700,163 | -€2.2m | -75.9% |
| Recurring financial income | 75 | €2,900,458 | €700,163 | -€2.2m | -75.9% |
| Income from financial fixed assets | 750 | €2,817,684 | €565,610 | -€2.3m | -79.9% |
| Income from current assets | 751 | €82,767 | €134,536 | +€51,769 | +62.5% |
| Other financial income | 752/9 | €8 | €17 | +€10 | +124.8% |
| Financial charges | 65/66B | €380,217 | €662,208 | +€281,991 | +74.2% |
| Recurring financial charges | 65 | €380,217 | €662,208 | +€281,991 | +74.2% |
| Debt charges | 650 | €357,997 | €376,972 | +€18,975 | +5.3% |
| Other financial charges | 652/9 | €22,220 | €285,236 | +€263,016 | +1183.7% |
| Profit (loss) for the period before taxes | 9903 | €16,725,395 | -€2,214,148 | -€18.9m | |
| Income taxes | 67/77 | €3,753,319 | €2,923 | -€3.8m | -99.9% |
| Taxes | 670/3 | €3,753,319 | €2,923 | -€3.8m | -99.9% |
| Profit (loss) for the period | 9904 | €12,972,076 | -€2,217,071 | -€15.2m | |
| Transfer to tax-exempt reserves | 689 | - | €110,034 | +€110,034 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,972,076 | -€2,327,105 | -€15.3m |
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 9 October 2026 via checked.be.