Transnubel: 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.
What changed
Transnubel
NACE 49.410, Freight transport by road
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€7.6m
2024 · -€467,196-€7.1m
Equity
-€5.4m
2024 · €2.2m-€7.6m
Cash
€139,143
2024 · €91,612+€47,531
Balance sheet total
€24.3m
2024 · €25.8m-€1.5m
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-5.2%), from €20.4m to €19.3m
of which Trade receivables: -€948,875
- Tangible fixed assets -€412,149
down €412,149 (-16.4%), from €2.5m to €2.1m
of which Land and buildings: -€210,959
Equity and liabilities
- Debts after one year +€11.1m
up €11.1m (+653%), from €1.7m to €12.8m
- Profit (loss) carried forward -€7.6m
down €7.6m (-452%), from -€1.7m to -€9.3m
- Short-term financial debts -€7.3m
down €7.3m (-91.3%), from €8.0m to €694,399
- Provisions +€1.7m
up €1.7m (+21.9%), from €7.8m to €9.5m
- Advances received +€510,429
up €510,429 (+121%), from €421,886 to €932,315
Income statement
- Turnover -€7.5m
down €7.5m (-22.8%), from €32.9m to €25.4m
- Goods and materials -€2.1m
down €2.1m (-22.3%), from €9.4m to €7.3m
of which Purchases: -€4.6m
- Provisions +€1.3m
up €1.3m (+337%), from €372,457 to €1.6m
- Other operating income -€922,150
down €922,150 (-34.6%), from €2.7m to €1.7m
- Taxes -€479,345
down €479,345 (-97.8%), from €490,283 to €10,938
of which Taxes: -€467,553
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.
Result 2024
-€467,196
Turnover
-€7.5m
Other operating income
-€922,150
Goods and materials
+€2.1m
Services and other goods
-€249,058
Staff costs
-€21,556
Depreciation
-€27,796
Provisions
-€1.3m
Other operating charges
+€73,119
Other operating items
+€462,649
Financial income
-€21,534
Financial charges
-€226,285
Taxes
+€479,345
Result 2025
-€7.6m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€3.8m
Investment
-€6,183
Financing
+€3.8m
Cash 2024
€91,612
From operations (derived)
-€3.8m
Net result for the year
-€7.6m
Depreciation
+€418,332
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€106,608
Provisions
+€1.7m
Trade debts
-€324,093
Tax, wage and social debts
+€392,648
Advances received
+€510,429
Accrued charges and deferred income
-€9,355
Investment (derived)
-€6,183
Investment in fixed assets (net)
-€6,183
Financing
+€3.8m
Debts after one year
+€11.1m
Short-term financial debts
-€7.3m
Cash 2025
€139,143
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,795,555 | €24,269,708 | -€1.5m | -5.9% |
| Fixed assets | 21/28 | €2,593,390 | €2,181,241 | -€412,149 | -15.9% |
| Tangible fixed assets | 22/27 | €2,520,310 | €2,108,161 | -€412,149 | -16.4% |
| Land and buildings | 22 | €804,486 | €593,527 | -€210,959 | -26.2% |
| Plant, machinery and equipment | 23 | €1,679,504 | €1,495,231 | -€184,273 | -11.0% |
| Furniture and vehicles | 24 | €30,616 | €17,135 | -€13,481 | -44.0% |
| Other tangible fixed assets | 26 | €5,704 | €2,268 | -€3,436 | -60.2% |
| Financial fixed assets | 28 | €73,080 | €73,080 | = | 0.0% |
| Affiliated companies | 280/1 | €12,500 | €12,500 | = | 0.0% |
| Participating interests | 280 | €12,500 | €12,500 | = | 0.0% |
| Other financial fixed assets | 284/8 | €60,580 | €60,580 | = | 0.0% |
| Shares | 284 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €580 | €580 | = | 0.0% |
| Current assets | 29/58 | €23,202,165 | €22,088,467 | -€1.1m | -4.8% |
| Stocks and contracts in progress | 3 | €2,525,993 | €2,525,993 | = | 0.0% |
| Stocks | 30/36 | €2,525,993 | €2,525,993 | = | 0.0% |
| Raw materials and consumables | 30/31 | €2,525,993 | €2,525,993 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €20,392,847 | €19,338,227 | -€1.1m | -5.2% |
| Trade receivables | 40 | €20,161,680 | €19,212,805 | -€948,875 | -4.7% |
| Other amounts receivable | 41 | €231,168 | €125,422 | -€105,745 | -45.7% |
| Cash at bank and in hand | 54/58 | €91,612 | €139,143 | +€47,531 | +51.9% |
| Deferred charges and accrued income | 490/1 | €191,712 | €85,104 | -€106,608 | -55.6% |
| Total equity and liabilities | 10/49 | €25,795,555 | €24,269,708 | -€1.5m | -5.9% |
| Equity | 10/15 | €2,184,960 | -€5,417,595 | -€7.6m | |
| Contributions | 10/11 | €2,667,000 | €2,667,000 | = | 0.0% |
| Capital | 10 | €2,667,000 | €2,667,000 | = | 0.0% |
| Issued capital | 100 | €2,667,000 | €2,667,000 | = | 0.0% |
| Reserves | 13 | €1,200,386 | €1,200,386 | = | 0.0% |
| Non-distributable reserves | 130/1 | €62,200 | €62,200 | = | 0.0% |
| Legal reserve | 130 | €62,200 | €62,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,665 | €22,665 | = | 0.0% |
| Distributable reserves | 133 | €1,115,520 | €1,115,520 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,682,426 | -€9,284,981 | -€7.6m | -452% |
| Provisions and deferred taxes | 16 | €7,783,065 | €9,485,251 | +€1.7m | +21.9% |
| Provisions for liabilities and charges | 160/5 | €7,783,065 | €9,485,251 | +€1.7m | +21.9% |
| Major repairs and maintenance | 162 | €6,008,627 | €5,421,937 | -€586,690 | -9.8% |
| Other liabilities and charges | 164/5 | €1,774,438 | €4,063,313 | +€2.3m | +129% |
| Amounts payable | 17/49 | €15,827,530 | €20,202,053 | +€4.4m | +27.6% |
| Amounts payable after more than one year | 17 | €1,700,000 | €12,800,000 | +€11.1m | +653% |
| Financial debts | 170/4 | €1,700,000 | €12,800,000 | +€11.1m | +653% |
| Other loans | 174 | €1,700,000 | €12,800,000 | +€11.1m | +653% |
| Amounts payable within one year | 42/48 | €14,113,717 | €7,397,594 | -€6.7m | -47.6% |
| Financial debts | 43 | €7,989,507 | €694,399 | -€7.3m | -91.3% |
| Other loans | 439 | €7,989,507 | €694,399 | -€7.3m | -91.3% |
| Trade debts | 44 | €2,264,201 | €1,940,108 | -€324,093 | -14.3% |
| Suppliers | 440/4 | €2,264,201 | €1,940,108 | -€324,093 | -14.3% |
| Advances received on contracts in progress | 46 | €421,886 | €932,315 | +€510,429 | +121% |
| Taxes, remuneration and social security | 45 | €3,438,123 | €3,830,772 | +€392,648 | +11.4% |
| Taxes | 450/3 | €247,610 | €239,167 | -€8,443 | -3.4% |
| Remuneration and social security | 454/9 | €3,190,514 | €3,591,605 | +€401,092 | +12.6% |
| Accrued charges and deferred income | 492/3 | €13,814 | €4,459 | -€9,355 | -67.7% |
| Operating income | 70/76A | €35,588,523 | €27,149,876 | -€8.4m | -23.7% |
| Turnover | 70 | €32,921,580 | €25,405,084 | -€7.5m | -22.8% |
| Other operating income | 74 | €2,666,942 | €1,744,792 | -€922,150 | -34.6% |
| Operating charges | 60/66A | €35,298,254 | €34,226,492 | -€1.1m | -3.0% |
| Goods for resale, raw materials and consumables | 60 | €9,356,408 | €7,267,275 | -€2.1m | -22.3% |
| Purchases | 600/8 | €11,882,401 | €7,267,275 | -€4.6m | -38.8% |
| Change in stocks: decrease (increase) | 609 | -€2,525,993 | - | +€2.5m | |
| Services and other goods | 61 | €6,438,263 | €6,687,321 | +€249,058 | +3.9% |
| Remuneration, social security and pensions | 62 | €17,975,853 | €17,997,409 | +€21,556 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €390,536 | €418,332 | +€27,796 | +7.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €372,457 | €1,627,186 | +€1.3m | +337% |
| Other operating charges | 640/8 | €149,836 | €76,717 | -€73,119 | -48.8% |
| Non-recurring operating charges | 66A | €614,901 | €152,251 | -€462,649 | -75.2% |
| Operating profit (loss) | 9901 | €290,269 | -€7,076,616 | -€7.4m | |
| Financial income | 75/76B | €23,019 | €1,485 | -€21,534 | -93.5% |
| Recurring financial income | 75 | €23,019 | €1,485 | -€21,534 | -93.5% |
| Income from current assets | 751 | €15,360 | - | -€15,360 | |
| Other financial income | 752/9 | €7,659 | €1,485 | -€6,174 | -80.6% |
| Financial charges | 65/66B | €290,201 | €516,486 | +€226,285 | +78.0% |
| Recurring financial charges | 65 | €290,201 | €516,486 | +€226,285 | +78.0% |
| Debt charges | 650 | €250,401 | €470,671 | +€220,270 | +88.0% |
| Other financial charges | 652/9 | €39,800 | €45,815 | +€6,015 | +15.1% |
| Profit (loss) for the period before taxes | 9903 | €23,086 | -€7,591,617 | -€7.6m | |
| Income taxes | 67/77 | €490,283 | €10,938 | -€479,345 | -97.8% |
| Taxes | 670/3 | €490,283 | €22,730 | -€467,553 | -95.4% |
| Tax adjustments and reversals of tax provisions | 77 | - | €11,792 | +€11,792 | |
| Profit (loss) for the period | 9904 | -€467,196 | -€7,602,555 | -€7.1m | -1,527% |
| Profit (loss) for the period to be appropriated | 9905 | -€467,196 | -€7,602,555 | -€7.1m | -1,527% |
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 14 October 2026 via checked.be.