TRANSPORT GA: what changed
TRANSPORT GA
Largest movements
- Receivables within one year +€113,425
up €113,425 (+30.2%), from €375,498 to €488,923
of which Other amounts receivable: +€63,741
- Tangible fixed assets -€15,866
down €15,866 (-5.4%), from €295,368 to €279,502
of which Leasing and similar rights: -€79,125
- Cash +€15,535
up €15,535 (+55.3%), from €28,085 to €43,620
mainly Depreciation (+€114,366) and Trade debts (+€93,622)
- Trade debts +€93,622
up €93,622 (+199%), from €47,035 to €140,657
- Reserves +€50,000
up €50,000 (+50.0%), from €100,000 to €150,000
- Tax, wage and social debts -€23,770
down €23,770 (-23.3%), from €102,093 to €78,322
of which Taxes: -€29,211
- Profit (loss) carried forward -€12,765
down €12,765 (-5.4%), from €234,984 to €222,219
- Current portion of long-term debt +€11,958
up €11,958 (+15.6%), from €76,525 to €88,483
- Staff costs +€98,628
up €98,628 (+44.1%), from €223,822 to €322,449
- Gross operating margin +€91,395
up €91,395 (+17.5%), from €521,594 to €612,989
- Depreciation +€25,801
up €25,801 (+29.1%), from €88,565 to €114,366
- Taxes -€24,237
down €24,237 (-52.5%), from €46,206 to €21,969
- Financial income +€24,080
new in 2025: €24,080
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €801,397 | €917,355 | +€115,957 | +14.5% |
| Fixed assets | 21/28 | €295,678 | €284,812 | -€10,866 | -3.7% |
| Tangible fixed assets | 22/27 | €295,368 | €279,502 | -€15,866 | -5.4% |
| Furniture and vehicles | 24 | €24,488 | €87,746 | +€63,259 | +258% |
| Leasing and similar rights | 25 | €270,880 | €191,755 | -€79,125 | -29.2% |
| Financial fixed assets | 28 | €310 | €5,310 | +€5,000 | +1,613% |
| Current assets | 29/58 | €505,719 | €632,543 | +€126,824 | +25.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €375,498 | €488,923 | +€113,425 | +30.2% |
| Trade receivables | 40 | €144,370 | €194,054 | +€49,684 | +34.4% |
| Other amounts receivable | 41 | €231,128 | €294,869 | +€63,741 | +27.6% |
| Cash at bank and in hand | 54/58 | €28,085 | €43,620 | +€15,535 | +55.3% |
| Deferred charges and accrued income | 490/1 | €2,136 | - | -€2,136 | |
| Total equity and liabilities | 10/49 | €801,397 | €917,355 | +€115,957 | +14.5% |
| Equity | 10/15 | €343,044 | €380,279 | +€37,235 | +10.9% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Distributable reserves | 133 | €100,000 | €150,000 | +€50,000 | +50.0% |
| Profit (loss) carried forward | 14 | €234,984 | €222,219 | -€12,765 | -5.4% |
| Amounts payable | 17/49 | €458,354 | €537,076 | +€78,722 | +17.2% |
| Amounts payable after more than one year | 17 | €232,700 | €226,424 | -€6,276 | -2.7% |
| Financial debts | 170/4 | €232,700 | €226,424 | -€6,276 | -2.7% |
| Amounts payable within one year | 42/48 | €225,653 | €310,652 | +€84,999 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €76,525 | €88,483 | +€11,958 | +15.6% |
| Financial debts | 43 | - | €3,189 | +€3,189 | |
| Credit institutions | 430/8 | - | €3,189 | +€3,189 | |
| Trade debts | 44 | €47,035 | €140,657 | +€93,622 | +199% |
| Suppliers | 440/4 | €47,035 | €140,657 | +€93,622 | +199% |
| Taxes, remuneration and social security | 45 | €102,093 | €78,322 | -€23,770 | -23.3% |
| Taxes | 450/3 | €88,835 | €59,624 | -€29,211 | -32.9% |
| Remuneration and social security | 454/9 | €13,258 | €18,698 | +€5,440 | +41.0% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Remuneration, social security and pensions | 62 | €223,822 | €322,449 | +€98,628 | +44.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €88,565 | €114,366 | +€25,801 | +29.1% |
| Other operating charges | 640/8 | €82,262 | €103,998 | +€21,736 | +26.4% |
| Gross operating margin | 9900 | €521,594 | €612,989 | +€91,395 | +17.5% |
| Operating profit (loss) | 9901 | €126,945 | €72,176 | -€54,770 | -43.1% |
| Financial income | 75/76B | - | €24,080 | +€24,080 | |
| Recurring financial income | 75 | - | €24,080 | +€24,080 | |
| Financial charges | 65/66B | €17,024 | €37,052 | +€20,028 | +118% |
| Recurring financial charges | 65 | €17,024 | €37,052 | +€20,028 | +118% |
| Profit (loss) for the period before taxes | 9903 | €109,922 | €59,204 | -€50,718 | -46.1% |
| Income taxes | 67/77 | €46,206 | €21,969 | -€24,237 | -52.5% |
| Profit (loss) for the period | 9904 | €63,716 | €37,235 | -€26,481 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,716 | €37,235 | -€26,481 | -41.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.