Transhimal: 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.
Transhimal
Largest movements
- Cash +€243,768
up €243,768 (+32.3%), from €754,638 to €998,407
mainly Net result for the year (+€238,991) and Receivables within one year (+€53,748)
- Receivables within one year -€53,748
down €53,748 (-32.8%), from €163,685 to €109,937
of which Trade receivables: -€53,082
- Tangible fixed assets -€17,000
down €17,000 (-24.6%), from €69,114 to €52,114
- Reserves +€239,000
up €239,000 (+30.3%), from €787,860 to €1.0m
- Debts after one year -€29,131
down €29,131 (-74.5%), from €39,119 to €9,988
- Trade debts -€20,066
down €20,066 (-25.3%), from €79,237 to €59,171
- Tax, wage and social debts -€16,181
down €16,181 (-42.0%), from €38,504 to €22,323
of which Taxes: -€16,333
- Depreciation -€7,966
down €7,966 (-31.9%), from €24,966 to €17,000
- Staff costs +€6,535
up €6,535 (+8.2%), from €79,476 to €86,011
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 | €991,756 | €1,166,580 | +€174,824 | +17.6% |
| Fixed assets | 21/28 | €69,249 | €52,249 | -€17,000 | -24.5% |
| Tangible fixed assets | 22/27 | €69,114 | €52,114 | -€17,000 | -24.6% |
| Furniture and vehicles | 24 | €69,114 | €52,114 | -€17,000 | -24.6% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €922,507 | €1,114,331 | +€191,824 | +20.8% |
| Amounts receivable within one year | 40/41 | €163,685 | €109,937 | -€53,748 | -32.8% |
| Trade receivables | 40 | €159,640 | €106,558 | -€53,082 | -33.3% |
| Other amounts receivable | 41 | €4,044 | €3,379 | -€666 | -16.5% |
| Current investments | 50/53 | - | €2,000 | +€2,000 | |
| Cash at bank and in hand | 54/58 | €754,638 | €998,407 | +€243,768 | +32.3% |
| Deferred charges and accrued income | 490/1 | €4,184 | €3,987 | -€197 | -4.7% |
| Total equity and liabilities | 10/49 | €991,756 | €1,166,580 | +€174,824 | +17.6% |
| Equity | 10/15 | €806,976 | €1,045,967 | +€238,991 | +29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €787,860 | €1,026,860 | +€239,000 | +30.3% |
| Distributable reserves | 133 | €787,860 | €1,026,860 | +€239,000 | +30.3% |
| Profit (loss) carried forward | 14 | €516 | €507 | -€9 | -1.7% |
| Amounts payable | 17/49 | €184,780 | €120,613 | -€64,167 | -34.7% |
| Amounts payable after more than one year | 17 | €39,119 | €9,988 | -€29,131 | -74.5% |
| Financial debts | 170/4 | €39,119 | €9,988 | -€29,131 | -74.5% |
| Amounts payable within one year | 42/48 | €145,661 | €110,625 | -€35,036 | -24.1% |
| Current portion of amounts payable after more than one year | 42 | €27,921 | €29,131 | +€1,210 | +4.3% |
| Trade debts | 44 | €79,237 | €59,171 | -€20,066 | -25.3% |
| Suppliers | 440/4 | €79,237 | €59,171 | -€20,066 | -25.3% |
| Taxes, remuneration and social security | 45 | €38,504 | €22,323 | -€16,181 | -42.0% |
| Taxes | 450/3 | €26,611 | €10,278 | -€16,333 | -61.4% |
| Remuneration and social security | 454/9 | €11,893 | €12,045 | +€152 | +1.3% |
| Remuneration, social security and pensions | 62 | €79,476 | €86,011 | +€6,535 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,966 | €17,000 | -€7,966 | -31.9% |
| Other operating charges | 640/8 | €22,326 | €24,519 | +€2,192 | +9.8% |
| Gross operating margin | 9900 | €455,882 | €452,492 | -€3,391 | -0.7% |
| Operating profit (loss) | 9901 | €329,114 | €324,962 | -€4,153 | -1.3% |
| Financial charges | 65/66B | €3,108 | €3,265 | +€157 | +5.1% |
| Recurring financial charges | 65 | €3,108 | €3,265 | +€157 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €326,006 | €321,697 | -€4,310 | -1.3% |
| Income taxes | 67/77 | €84,643 | €82,705 | -€1,938 | -2.3% |
| Profit (loss) for the period | 9904 | €241,363 | €238,991 | -€2,372 | -1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €241,363 | €238,991 | -€2,372 | -1.0% |
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 4 October 2026 via checked.be.