TRANSMISSION SERVICES: 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.
TRANSMISSION SERVICES
Largest movements
- Receivables within one year +€225,883
up €225,883 (+326.9%), from €69,104 to €294,987
of which Trade receivables: +€229,036
- Stocks and contracts +€42,815
up €42,815 (+54.0%), from €79,232 to €122,047
- Cash +€21,771
up €21,771 (+132.8%), from €16,395 to €38,167
mainly Trade debts (+€224,715) and Net result for the year (+€38,831)
- Tangible fixed assets -€9,712
down €9,712 (-20.9%), from €46,382 to €36,670
of which Furniture and vehicles: -€10,229
- Trade debts +€224,715
up €224,715 (+358.2%), from €62,736 to €287,451
- Profit (loss) carried forward +€38,831
up €38,831 (+192.7%), from €20,149 to €58,980
- Tax, wage and social debts +€22,123
new in 2025: €22,123
- Debts after one year -€8,994
down €8,994 (-29.4%), from €30,604 to €21,609
- Gross operating margin +€43,295
up €43,295 (+131.7%), from €32,875 to €76,170
- Taxes +€20,547
up €20,547 (+92512.2%), from €22 to €20,569
- Financial charges +€4,464
up €4,464 (+226.6%), from €1,970 to €6,434
- Depreciation +€1,400
up €1,400 (+13.8%), from €10,117 to €11,517
- Financial income +€1,210
up €1,210 (+252.9%), from €478 to €1,688
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 | €213,729 | €493,569 | +€279,840 | +130.9% |
| Fixed assets | 21/28 | €46,382 | €37,930 | -€8,452 | -18.2% |
| Tangible fixed assets | 22/27 | €46,382 | €36,670 | -€9,712 | -20.9% |
| Furniture and vehicles | 24 | €42,063 | €31,834 | -€10,229 | -24.3% |
| Other tangible fixed assets | 26 | €4,319 | €4,836 | +€517 | +12.0% |
| Financial fixed assets | 28 | - | €1,260 | +€1,260 | |
| Current assets | 29/58 | €167,347 | €455,639 | +€288,292 | +172.3% |
| Stocks and contracts in progress | 3 | €79,232 | €122,047 | +€42,815 | +54.0% |
| Stocks | 30/36 | €79,232 | €122,047 | +€42,815 | +54.0% |
| Amounts receivable within one year | 40/41 | €69,104 | €294,987 | +€225,883 | +326.9% |
| Trade receivables | 40 | €56,829 | €285,865 | +€229,036 | +403.0% |
| Other amounts receivable | 41 | €12,275 | €9,122 | -€3,153 | -25.7% |
| Cash at bank and in hand | 54/58 | €16,395 | €38,167 | +€21,771 | +132.8% |
| Deferred charges and accrued income | 490/1 | €2,616 | €439 | -€2,177 | -83.2% |
| Total equity and liabilities | 10/49 | €213,729 | €493,569 | +€279,840 | +130.9% |
| Equity | 10/15 | €111,749 | €150,580 | +€38,831 | +34.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,000 | €73,000 | = | 0.0% |
| Distributable reserves | 133 | €73,000 | €73,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,149 | €58,980 | +€38,831 | +192.7% |
| Amounts payable | 17/49 | €101,980 | €342,989 | +€241,010 | +236.3% |
| Amounts payable after more than one year | 17 | €30,604 | €21,609 | -€8,994 | -29.4% |
| Financial debts | 170/4 | €30,604 | €21,609 | -€8,994 | -29.4% |
| Amounts payable within one year | 42/48 | €71,376 | €321,354 | +€249,978 | +350.2% |
| Current portion of amounts payable after more than one year | 42 | €8,640 | €8,994 | +€354 | +4.1% |
| Trade debts | 44 | €62,736 | €287,451 | +€224,715 | +358.2% |
| Suppliers | 440/4 | €62,736 | €287,451 | +€224,715 | +358.2% |
| Taxes, remuneration and social security | 45 | - | €22,123 | +€22,123 | |
| Taxes | 450/3 | - | €22,123 | +€22,123 | |
| Other amounts payable | 47/48 | - | €2,785 | +€2,785 | |
| Accrued charges and deferred income | 492/3 | - | €26 | +€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,117 | €11,517 | +€1,400 | +13.8% |
| Other operating charges | 640/8 | €1,108 | €507 | -€601 | -54.2% |
| Gross operating margin | 9900 | €32,875 | €76,170 | +€43,295 | +131.7% |
| Operating profit (loss) | 9901 | €21,650 | €64,146 | +€42,496 | +196.3% |
| Financial income | 75/76B | €478 | €1,688 | +€1,210 | +252.9% |
| Recurring financial income | 75 | €478 | €1,688 | +€1,210 | +252.9% |
| Financial charges | 65/66B | €1,970 | €6,434 | +€4,464 | +226.6% |
| Recurring financial charges | 65 | €1,970 | €6,434 | +€4,464 | +226.6% |
| Profit (loss) for the period before taxes | 9903 | €20,158 | €59,400 | +€39,242 | +194.7% |
| Income taxes | 67/77 | €22 | €20,569 | +€20,547 | +92512.2% |
| Profit (loss) for the period | 9904 | €20,135 | €38,831 | +€18,695 | +92.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,135 | €38,831 | +€18,695 | +92.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.