TRANSTONE: 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.
TRANSTONE
Largest movements
- Tangible fixed assets -€752,294
down €752,294 (-29.0%), from €2.6m to €1.8m
of which Leasing and similar rights: -€680,436
- Receivables within one year -€141,504
down €141,504 (-8.7%), from €1.6m to €1.5m
of which Trade receivables: -€108,229
- Cash -€51,660
down €51,660 (-80.6%), from €64,060 to €12,401
mainly Debts after one year (-€560,869) and Current portion of long-term debt (-€183,656)
- Stocks and contracts +€47,979
up €47,979 (+73.0%), from €65,695 to €113,674
- Debts after one year -€560,869
down €560,869 (-33.4%), from €1.7m to €1.1m
- Current portion of long-term debt -€183,656
down €183,656 (-21.4%), from €858,210 to €674,553
- Tax, wage and social debts -€89,039
down €89,039 (-50.6%), from €175,835 to €86,796
of which Taxes: -€58,074
- Accrued charges and deferred income -€60,061
down €60,061 (-100.0%), from €60,061 to €0
- Other debts -€54,752
down €54,752 (-100.0%), from €54,752 to €0
- Gross operating margin +€159,095
up €159,095 (+9.9%), from €1.6m to €1.8m
- Other operating charges +€81,793
up €81,793 (+1559.7%), from €5,244 to €87,037
- Depreciation +€72,578
up €72,578 (+8.9%), from €812,899 to €885,477
- Staff costs +€26,156
up €26,156 (+4.0%), from €660,779 to €686,935
- Financial income +€19,565
up €19,565 (+108.4%), from €18,043 to €37,608
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 | €4,402,707 | €3,513,359 | -€889,348 | -20.2% |
| Fixed assets | 21/28 | €2,605,698 | €1,858,395 | -€747,303 | -28.7% |
| Intangible fixed assets | 21 | - | €4,991 | +€4,991 | |
| Tangible fixed assets | 22/27 | €2,596,698 | €1,844,404 | -€752,294 | -29.0% |
| Land and buildings | 22 | €3,298 | €1,966 | -€1,332 | -40.4% |
| Plant, machinery and equipment | 23 | €255,125 | €189,148 | -€65,977 | -25.9% |
| Furniture and vehicles | 24 | €87,869 | €91,133 | +€3,264 | +3.7% |
| Leasing and similar rights | 25 | €2,191,085 | €1,510,649 | -€680,436 | -31.1% |
| Other tangible fixed assets | 26 | €59,322 | €51,508 | -€7,813 | -13.2% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €1,797,008 | €1,654,964 | -€142,045 | -7.9% |
| Stocks and contracts in progress | 3 | €65,695 | €113,674 | +€47,979 | +73.0% |
| Stocks | 30/36 | €65,695 | €113,674 | +€47,979 | +73.0% |
| Amounts receivable within one year | 40/41 | €1,627,813 | €1,486,308 | -€141,504 | -8.7% |
| Trade receivables | 40 | €1,458,675 | €1,350,446 | -€108,229 | -7.4% |
| Other amounts receivable | 41 | €169,138 | €135,862 | -€33,276 | -19.7% |
| Cash at bank and in hand | 54/58 | €64,060 | €12,401 | -€51,660 | -80.6% |
| Deferred charges and accrued income | 490/1 | €39,440 | €42,581 | +€3,141 | +8.0% |
| Total equity and liabilities | 10/49 | €4,402,707 | €3,513,359 | -€889,348 | -20.2% |
| Equity | 10/15 | €1,169,934 | €1,207,976 | +€38,041 | +3.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €1,059,500 | €1,102,000 | +€42,500 | +4.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €1,052,000 | €1,094,500 | +€42,500 | +4.0% |
| Profit (loss) carried forward | 14 | €322 | €338 | +€16 | +5.1% |
| Investment grants | 15 | €35,113 | €30,638 | -€4,475 | -12.7% |
| Amounts payable | 17/49 | €3,232,773 | €2,305,383 | -€927,389 | -28.7% |
| Amounts payable after more than one year | 17 | €1,677,397 | €1,116,528 | -€560,869 | -33.4% |
| Financial debts | 170/4 | €1,677,397 | €1,116,528 | -€560,869 | -33.4% |
| Amounts payable within one year | 42/48 | €1,495,315 | €1,188,856 | -€306,459 | -20.5% |
| Current portion of amounts payable after more than one year | 42 | €858,210 | €674,553 | -€183,656 | -21.4% |
| Financial debts | 43 | €29,136 | €72,102 | +€42,967 | +147.5% |
| Credit institutions | 430/8 | €11,812 | €58,413 | +€46,601 | +394.5% |
| Other loans | 439 | €17,323 | €13,689 | -€3,634 | -21.0% |
| Trade debts | 44 | €377,383 | €355,404 | -€21,979 | -5.8% |
| Suppliers | 440/4 | €377,383 | €355,404 | -€21,979 | -5.8% |
| Taxes, remuneration and social security | 45 | €175,835 | €86,796 | -€89,039 | -50.6% |
| Taxes | 450/3 | €71,464 | €13,389 | -€58,074 | -81.3% |
| Remuneration and social security | 454/9 | €104,371 | €73,407 | -€30,964 | -29.7% |
| Other amounts payable | 47/48 | €54,752 | €0 | -€54,752 | -100.0% |
| Accrued charges and deferred income | 492/3 | €60,061 | €0 | -€60,061 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €660,779 | €686,935 | +€26,156 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €812,899 | €885,477 | +€72,578 | +8.9% |
| Other operating charges | 640/8 | €5,244 | €87,037 | +€81,793 | +1559.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,608,268 | €1,767,362 | +€159,095 | +9.9% |
| Operating profit (loss) | 9901 | €129,346 | €107,913 | -€21,433 | -16.6% |
| Financial income | 75/76B | €18,043 | €37,608 | +€19,565 | +108.4% |
| Recurring financial income | 75 | €18,043 | €37,608 | +€19,565 | +108.4% |
| Financial charges | 65/66B | €95,078 | €98,077 | +€2,999 | +3.2% |
| Recurring financial charges | 65 | €95,078 | €98,077 | +€2,999 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €52,311 | €47,444 | -€4,867 | -9.3% |
| Income taxes | 67/77 | €5,297 | €4,928 | -€369 | -7.0% |
| Profit (loss) for the period | 9904 | €47,014 | €42,516 | -€4,498 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €47,014 | €42,516 | -€4,498 | -9.6% |
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 8 October 2026 via checked.be.