TRANSPORT MARC: what changed
TRANSPORT MARC
Largest movements
- Current investments +€131,588
up €131,588 (+87.7%), from €150,000 to €281,588
- Cash -€58,646
down €58,646 (-19.5%), from €301,070 to €242,424
mainly Current investments (-€131,588) and Debts after one year (-€11,250)
- Deferred charges and accrued income -€43,746
no longer reported in 2025 (was €43,746)
- Tangible fixed assets -€41,321
down €41,321 (-29.7%), from €139,036 to €97,715
of which Furniture and vehicles: -€35,732
- Receivables within one year +€6,913
up €6,913 (+89.2%), from €7,752 to €14,665
of which Trade receivables: +€4,539
- Reserves +€15,624
up €15,624 (+2.8%), from €560,081 to €575,705
of which Distributable reserves: +€15,624
- Debts after one year -€11,250
no longer reported in 2025 (was €11,250)
- Current portion of long-term debt -€6,927
down €6,927 (-38.1%), from €18,177 to €11,250
- Gross operating margin -€42,150
down €42,150 (-24.5%), from €171,877 to €129,727
- Depreciation -€19,178
down €19,178 (-31.7%), from €60,499 to €41,321
- Taxes -€6,135
down €6,135 (-47.3%), from €12,984 to €6,849
- Financial income +€5,835
up €5,835 (+370%), from €1,579 to €7,414
- Staff costs +€3,995
up €3,995 (+6.0%), from €66,603 to €70,598
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 | €641,604 | €636,392 | -€5,212 | -0.8% |
| Fixed assets | 21/28 | €139,036 | €97,715 | -€41,321 | -29.7% |
| Tangible fixed assets | 22/27 | €139,036 | €97,715 | -€41,321 | -29.7% |
| Land and buildings | 22 | €21,716 | €17,700 | -€4,016 | -18.5% |
| Plant, machinery and equipment | 23 | €4,994 | €3,421 | -€1,573 | -31.5% |
| Furniture and vehicles | 24 | €112,326 | €76,594 | -€35,732 | -31.8% |
| Current assets | 29/58 | €502,568 | €538,677 | +€36,109 | +7.2% |
| Amounts receivable within one year | 40/41 | €7,752 | €14,665 | +€6,913 | +89.2% |
| Trade receivables | 40 | €4,526 | €9,065 | +€4,539 | +100% |
| Other amounts receivable | 41 | €3,226 | €5,600 | +€2,374 | +73.6% |
| Current investments | 50/53 | €150,000 | €281,588 | +€131,588 | +87.7% |
| Cash at bank and in hand | 54/58 | €301,070 | €242,424 | -€58,646 | -19.5% |
| Deferred charges and accrued income | 490/1 | €43,746 | - | -€43,746 | |
| Total equity and liabilities | 10/49 | €641,604 | €636,392 | -€5,212 | -0.8% |
| Equity | 10/15 | €566,281 | €581,905 | +€15,624 | +2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €560,081 | €575,705 | +€15,624 | +2.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €558,221 | €573,845 | +€15,624 | +2.8% |
| Amounts payable | 17/49 | €75,323 | €54,487 | -€20,836 | -27.7% |
| Amounts payable after more than one year | 17 | €11,250 | - | -€11,250 | |
| Financial debts | 170/4 | €11,250 | - | -€11,250 | |
| Amounts payable within one year | 42/48 | €64,073 | €54,487 | -€9,586 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €18,177 | €11,250 | -€6,927 | -38.1% |
| Trade debts | 44 | €2,213 | €2,039 | -€174 | -7.9% |
| Suppliers | 440/4 | €2,213 | €2,039 | -€174 | -7.9% |
| Taxes, remuneration and social security | 45 | €39,152 | €38,421 | -€731 | -1.9% |
| Taxes | 450/3 | €21,676 | €21,557 | -€119 | -0.5% |
| Remuneration and social security | 454/9 | €17,476 | €16,864 | -€612 | -3.5% |
| Other amounts payable | 47/48 | €4,531 | €2,777 | -€1,754 | -38.7% |
| Remuneration, social security and pensions | 62 | €66,603 | €70,598 | +€3,995 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,499 | €41,321 | -€19,178 | -31.7% |
| Other operating charges | 640/8 | €1,002 | €1,038 | +€36 | +3.6% |
| Gross operating margin | 9900 | €171,877 | €129,727 | -€42,150 | -24.5% |
| Operating profit (loss) | 9901 | €43,773 | €16,770 | -€27,003 | -61.7% |
| Financial income | 75/76B | €1,579 | €7,414 | +€5,835 | +370% |
| Recurring financial income | 75 | €1,579 | €7,414 | +€5,835 | +370% |
| Financial charges | 65/66B | €1,606 | €1,711 | +€105 | +6.5% |
| Recurring financial charges | 65 | €1,606 | €1,711 | +€105 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €43,746 | €22,473 | -€21,273 | -48.6% |
| Income taxes | 67/77 | €12,984 | €6,849 | -€6,135 | -47.3% |
| Profit (loss) for the period | 9904 | €30,762 | €15,624 | -€15,138 | -49.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,762 | €15,624 | -€15,138 | -49.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.