TRANSJOINT: 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.
TRANSJOINT
Largest movements
- Tangible fixed assets -€166,158
down €166,158 (-22.0%), from €756,097 to €589,939
of which Leasing and similar rights: -€174,471
- Cash -€121,439
down €121,439 (-57.5%), from €211,052 to €89,613
mainly Debts after one year (-€168,812) and Investment in fixed assets (net) (-€162,196)
- Receivables within one year +€96,213
up €96,213 (+15.1%), from €638,494 to €734,706
of which Trade receivables: +€86,774
- Debts after one year -€168,812
down €168,812 (-31.5%), from €535,703 to €366,890
- Profit (loss) carried forward -€59,041
down €59,041 (-15.8%), from €373,216 to €314,175
- Trade debts +€39,427
up €39,427 (+43.5%), from €90,572 to €129,999
- Staff costs +€71,594
up €71,594 (+12.9%), from €553,932 to €625,526
- Write-downs +€64,067
new in 2025: €64,067
- Gross operating margin +€52,246
up €52,246 (+5.1%), from €1.0m to €1.1m
- Financial income +€32,756
up €32,756 (+129%), from €25,408 to €58,164
- Taxes -€11,088
down €11,088 (-97.3%), from €11,391 to €302
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 | €1,704,040 | €1,520,070 | -€183,971 | -10.8% |
| Fixed assets | 21/28 | €826,582 | €660,964 | -€165,618 | -20.0% |
| Tangible fixed assets | 22/27 | €756,097 | €589,939 | -€166,158 | -22.0% |
| Plant, machinery and equipment | 23 | €30,926 | €23,197 | -€7,728 | -25.0% |
| Furniture and vehicles | 24 | €41,616 | €57,657 | +€16,041 | +38.5% |
| Leasing and similar rights | 25 | €683,556 | €509,085 | -€174,471 | -25.5% |
| Financial fixed assets | 28 | €70,485 | €71,025 | +€540 | +0.8% |
| Current assets | 29/58 | €877,458 | €859,105 | -€18,353 | -2.1% |
| Stocks and contracts in progress | 3 | €16,799 | €23,712 | +€6,912 | +41.1% |
| Stocks | 30/36 | €16,799 | €23,712 | +€6,912 | +41.1% |
| Amounts receivable within one year | 40/41 | €638,494 | €734,706 | +€96,213 | +15.1% |
| Trade receivables | 40 | €496,786 | €583,559 | +€86,774 | +17.5% |
| Other amounts receivable | 41 | €141,708 | €151,147 | +€9,439 | +6.7% |
| Cash at bank and in hand | 54/58 | €211,052 | €89,613 | -€121,439 | -57.5% |
| Deferred charges and accrued income | 490/1 | €11,114 | €11,074 | -€39 | -0.4% |
| Total equity and liabilities | 10/49 | €1,704,040 | €1,520,070 | -€183,971 | -10.8% |
| Equity | 10/15 | €722,994 | €663,953 | -€59,041 | -8.2% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €287,804 | €287,804 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €281,607 | €281,607 | = | 0.0% |
| Profit (loss) carried forward | 14 | €373,216 | €314,175 | -€59,041 | -15.8% |
| Amounts payable | 17/49 | €981,046 | €856,117 | -€124,929 | -12.7% |
| Amounts payable after more than one year | 17 | €535,703 | €366,890 | -€168,812 | -31.5% |
| Financial debts | 170/4 | €535,703 | €366,890 | -€168,812 | -31.5% |
| Amounts payable within one year | 42/48 | €445,344 | €489,227 | +€43,883 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €270,830 | €268,414 | -€2,416 | -0.9% |
| Trade debts | 44 | €90,572 | €129,999 | +€39,427 | +43.5% |
| Suppliers | 440/4 | €90,572 | €129,999 | +€39,427 | +43.5% |
| Taxes, remuneration and social security | 45 | €83,942 | €90,814 | +€6,871 | +8.2% |
| Taxes | 450/3 | €21,393 | €12,965 | -€8,427 | -39.4% |
| Remuneration and social security | 454/9 | €62,550 | €77,848 | +€15,299 | +24.5% |
| Non-recurring operating income | 76A | €3,042 | €23,750 | +€20,708 | +681% |
| Remuneration, social security and pensions | 62 | €553,932 | €625,526 | +€71,594 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €323,793 | €327,814 | +€4,021 | +1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €64,067 | +€64,067 | |
| Other operating charges | 640/8 | €111,865 | €119,948 | +€8,084 | +7.2% |
| Non-recurring operating charges | 66A | - | €20,784 | +€20,784 | |
| Gross operating margin | 9900 | €1,016,469 | €1,068,715 | +€52,246 | +5.1% |
| Operating profit (loss) | 9901 | €26,879 | -€89,425 | -€116,304 | |
| Financial income | 75/76B | €25,408 | €58,164 | +€32,756 | +129% |
| Recurring financial income | 75 | €25,408 | €58,164 | +€32,756 | +129% |
| Financial charges | 65/66B | €26,838 | €27,479 | +€641 | +2.4% |
| Recurring financial charges | 65 | €26,838 | €27,479 | +€641 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €25,449 | -€58,739 | -€84,188 | |
| Income taxes | 67/77 | €11,391 | €302 | -€11,088 | -97.3% |
| Profit (loss) for the period | 9904 | €14,059 | -€59,041 | -€73,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,059 | -€59,041 | -€73,100 |
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 15 October 2026 via checked.be.