Transport Baert: 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.
Transport Baert
Largest movements
- Tangible fixed assets -€129,443
down €129,443 (-37.5%), from €344,860 to €215,417
of which Leasing and similar rights: -€90,433
- Cash +€42,484
up €42,484 (+33.5%), from €126,850 to €169,334
mainly Depreciation (+€134,956) and Trade debts (+€17,695)
- Debts after one year -€71,489
down €71,489 (-55.7%), from €128,253 to €56,764
- Trade debts +€17,695
up €17,695 (+68.0%), from €26,038 to €43,734
- Profit (loss) carried forward -€16,753
down €16,753 (-61.8%), from -€27,121 to -€43,874
- Tax, wage and social debts -€10,361
down €10,361 (-16.3%), from €63,581 to €53,220
of which Taxes: -€9,397
- Gross operating margin -€147,153
down €147,153 (-21.3%), from €690,548 to €543,395
- Staff costs -€139,872
down €139,872 (-28.0%), from €499,759 to €359,887
- Other operating charges -€19,320
down €19,320 (-25.3%), from €76,455 to €57,135
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 | €712,004 | €625,795 | -€86,209 | -12.1% |
| Fixed assets | 21/28 | €344,895 | €215,452 | -€129,443 | -37.5% |
| Tangible fixed assets | 22/27 | €344,860 | €215,417 | -€129,443 | -37.5% |
| Plant, machinery and equipment | 23 | €11,082 | €6,919 | -€4,164 | -37.6% |
| Furniture and vehicles | 24 | €84,157 | €50,470 | -€33,686 | -40.0% |
| Leasing and similar rights | 25 | €245,450 | €155,017 | -€90,433 | -36.8% |
| Other tangible fixed assets | 26 | €4,171 | €3,011 | -€1,160 | -27.8% |
| Financial fixed assets | 28 | €35 | €35 | = | 0.0% |
| Current assets | 29/58 | €367,109 | €410,343 | +€43,233 | +11.8% |
| Amounts receivable after more than one year | 29 | €37,070 | €37,070 | = | 0.0% |
| Other amounts receivable | 291 | €37,070 | €37,070 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €196,589 | €196,314 | -€275 | -0.1% |
| Trade receivables | 40 | €165,241 | €175,284 | +€10,043 | +6.1% |
| Other amounts receivable | 41 | €31,348 | €21,030 | -€10,318 | -32.9% |
| Cash at bank and in hand | 54/58 | €126,850 | €169,334 | +€42,484 | +33.5% |
| Deferred charges and accrued income | 490/1 | €6,600 | €7,624 | +€1,025 | +15.5% |
| Total equity and liabilities | 10/49 | €712,004 | €625,795 | -€86,209 | -12.1% |
| Equity | 10/15 | €421,489 | €404,736 | -€16,753 | -4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €430,010 | €430,010 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,742 | €56,742 | = | 0.0% |
| Distributable reserves | 133 | €373,268 | €373,268 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,121 | -€43,874 | -€16,753 | -61.8% |
| Amounts payable | 17/49 | €290,515 | €221,059 | -€69,456 | -23.9% |
| Amounts payable after more than one year | 17 | €128,253 | €56,764 | -€71,489 | -55.7% |
| Financial debts | 170/4 | €128,253 | €56,764 | -€71,489 | -55.7% |
| Amounts payable within one year | 42/48 | €161,790 | €164,295 | +€2,505 | +1.5% |
| Current portion of amounts payable after more than one year | 42 | €72,171 | €67,342 | -€4,830 | -6.7% |
| Trade debts | 44 | €26,038 | €43,734 | +€17,695 | +68.0% |
| Suppliers | 440/4 | €26,038 | €43,734 | +€17,695 | +68.0% |
| Taxes, remuneration and social security | 45 | €63,581 | €53,220 | -€10,361 | -16.3% |
| Taxes | 450/3 | €33,939 | €24,542 | -€9,397 | -27.7% |
| Remuneration and social security | 454/9 | €29,642 | €28,678 | -€964 | -3.3% |
| Accrued charges and deferred income | 492/3 | €472 | - | -€472 | |
| Remuneration, social security and pensions | 62 | €499,759 | €359,887 | -€139,872 | -28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,431 | €134,956 | -€4,475 | -3.2% |
| Other operating charges | 640/8 | €76,455 | €57,135 | -€19,320 | -25.3% |
| Gross operating margin | 9900 | €690,548 | €543,395 | -€147,153 | -21.3% |
| Operating profit (loss) | 9901 | -€25,096 | -€8,583 | +€16,513 | +65.8% |
| Financial income | 75/76B | €1,326 | €1,729 | +€403 | +30.4% |
| Recurring financial income | 75 | €1,326 | €1,729 | +€403 | +30.4% |
| Financial charges | 65/66B | €11,340 | €9,520 | -€1,820 | -16.0% |
| Recurring financial charges | 65 | €11,340 | €9,520 | -€1,820 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | -€35,110 | -€16,375 | +€18,735 | +53.4% |
| Income taxes | 67/77 | €366 | €378 | +€12 | +3.3% |
| Profit (loss) for the period | 9904 | -€35,477 | -€16,753 | +€18,723 | +52.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,477 | -€16,753 | +€18,723 | +52.8% |
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 21 October 2026 via checked.be.