TRANSNET: 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.
TRANSNET
Largest movements
- Tangible fixed assets -€291,178
down €291,178 (-20.8%), from €1.4m to €1.1m
of which Plant, machinery and equipment: -€189,375
- Receivables within one year +€179,962
up €179,962 (+18.6%), from €968,549 to €1.1m
of which Trade receivables: +€242,153
- Cash +€59,298
up €59,298 (+13.3%), from €445,292 to €504,590
mainly Depreciation (+€455,630) and Other debts (+€290,617)
- Other debts +€290,617
up €290,617 (+8232.7%), from €3,530 to €294,147
- Current portion of long-term debt -€275,381
no longer reported in 2025 (was €275,381)
- Reserves -€94,000
down €94,000 (-5.7%), from €1.6m to €1.6m
of which Distributable reserves: -€94,000
- Depreciation +€120,036
up €120,036 (+35.8%), from €335,594 to €455,630
- Taxes -€48,594
down €48,594 (-36.9%), from €131,563 to €82,969
- Gross operating margin -€31,855
down €31,855 (-2.2%), from €1.4m to €1.4m
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 | €2,827,728 | €2,773,430 | -€54,298 | -1.9% |
| Fixed assets | 21/28 | €1,402,634 | €1,111,456 | -€291,178 | -20.8% |
| Tangible fixed assets | 22/27 | €1,401,284 | €1,110,106 | -€291,178 | -20.8% |
| Plant, machinery and equipment | 23 | €881,973 | €692,598 | -€189,375 | -21.5% |
| Furniture and vehicles | 24 | €519,311 | €417,508 | -€101,803 | -19.6% |
| Financial fixed assets | 28 | €1,350 | €1,350 | = | 0.0% |
| Current assets | 29/58 | €1,425,094 | €1,661,974 | +€236,879 | +16.6% |
| Amounts receivable within one year | 40/41 | €968,549 | €1,148,511 | +€179,962 | +18.6% |
| Trade receivables | 40 | €889,994 | €1,132,147 | +€242,153 | +27.2% |
| Other amounts receivable | 41 | €78,555 | €16,364 | -€62,191 | -79.2% |
| Cash at bank and in hand | 54/58 | €445,292 | €504,590 | +€59,298 | +13.3% |
| Deferred charges and accrued income | 490/1 | €11,253 | €8,872 | -€2,381 | -21.2% |
| Total equity and liabilities | 10/49 | €2,827,728 | €2,773,430 | -€54,298 | -1.9% |
| Equity | 10/15 | €2,280,047 | €2,186,997 | -€93,050 | -4.1% |
| Contributions | 10/11 | €22,310 | €22,310 | = | 0.0% |
| Reserves | 13 | €1,647,814 | €1,553,814 | -€94,000 | -5.7% |
| Tax-exempt reserves | 132 | €345,000 | €345,000 | = | 0.0% |
| Distributable reserves | 133 | €1,302,814 | €1,208,814 | -€94,000 | -7.2% |
| Profit (loss) carried forward | 14 | €609,922 | €610,873 | +€950 | +0.2% |
| Provisions and deferred taxes | 16 | €871 | €871 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €871 | €871 | = | 0.0% |
| Other liabilities and charges | 164/5 | €871 | €871 | = | 0.0% |
| Amounts payable | 17/49 | €546,810 | €585,562 | +€38,752 | +7.1% |
| Amounts payable within one year | 42/48 | €546,537 | €585,292 | +€38,755 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €275,381 | - | -€275,381 | |
| Trade debts | 44 | €129,388 | €135,424 | +€6,037 | +4.7% |
| Suppliers | 440/4 | €129,388 | €135,424 | +€6,037 | +4.7% |
| Taxes, remuneration and social security | 45 | €138,238 | €155,721 | +€17,483 | +12.6% |
| Taxes | 450/3 | €54,677 | €79,120 | +€24,444 | +44.7% |
| Remuneration and social security | 454/9 | €83,562 | €76,601 | -€6,961 | -8.3% |
| Other amounts payable | 47/48 | €3,530 | €294,147 | +€290,617 | +8232.7% |
| Accrued charges and deferred income | 492/3 | €273 | €270 | -€3 | -1.1% |
| Remuneration, social security and pensions | 62 | €626,258 | €633,263 | +€7,005 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €335,594 | €455,630 | +€120,036 | +35.8% |
| Other operating charges | 640/8 | €250 | €13,897 | +€13,647 | +5458.7% |
| Gross operating margin | 9900 | €1,419,416 | €1,387,560 | -€31,855 | -2.2% |
| Operating profit (loss) | 9901 | €457,314 | €284,771 | -€172,543 | -37.7% |
| Financial income | 75/76B | €53 | €220 | +€167 | +315.1% |
| Recurring financial income | 75 | €53 | €220 | +€167 | +315.1% |
| Financial charges | 65/66B | €4,254 | €8,072 | +€3,818 | +89.7% |
| Recurring financial charges | 65 | €4,254 | €8,072 | +€3,818 | +89.7% |
| Profit (loss) for the period before taxes | 9903 | €453,113 | €276,919 | -€176,194 | -38.9% |
| Income taxes | 67/77 | €131,563 | €82,969 | -€48,594 | -36.9% |
| Profit (loss) for the period | 9904 | €321,550 | €193,950 | -€127,600 | -39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €321,550 | €193,950 | -€127,600 | -39.7% |
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 5 October 2026 via checked.be.