TRANSVERATHO: 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.
TRANSVERATHO
Largest movements
- Receivables within one year +€405,312
up €405,312 (+131%), from €309,136 to €714,449
- Tangible fixed assets +€321,726
up €321,726 (+38.4%), from €837,062 to €1.2m
of which Leasing and similar rights: +€331,544
- Cash -€181,117
down €181,117 (-79.8%), from €227,009 to €45,891
mainly Investment in fixed assets (net) (-€538,028) and Receivables within one year (-€405,312)
- Debts after one year +€330,728
up €330,728 (+50.7%), from €651,919 to €982,647
- Current portion of long-term debt +€118,573
up €118,573 (+71.6%), from €165,535 to €284,108
- Profit (loss) carried forward +€42,521
up €42,521 (+27.9%), from €152,454 to €194,975
- Short-term financial debts +€24,000
up €24,000 (+31.6%), from €76,000 to €100,000
- Staff costs -€116,123
down €116,123 (-15.9%), from €730,026 to €613,903
- Depreciation +€36,250
up €36,250 (+20.1%), from €179,917 to €216,167
- Gross operating margin -€32,753
down €32,753 (-3.4%), from €966,693 to €933,940
- Financial charges +€14,841
up €14,841 (+37.7%), from €39,392 to €54,233
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,412,749 | €1,944,403 | +€531,655 | +37.6% |
| Fixed assets | 21/28 | €841,157 | €1,163,018 | +€321,861 | +38.3% |
| Tangible fixed assets | 22/27 | €837,062 | €1,158,788 | +€321,726 | +38.4% |
| Land and buildings | 22 | €172,759 | €167,934 | -€4,825 | -2.8% |
| Furniture and vehicles | 24 | €123,347 | €118,354 | -€4,993 | -4.0% |
| Leasing and similar rights | 25 | €540,956 | €872,500 | +€331,544 | +61.3% |
| Financial fixed assets | 28 | €4,095 | €4,230 | +€135 | +3.3% |
| Current assets | 29/58 | €571,591 | €781,385 | +€209,794 | +36.7% |
| Stocks and contracts in progress | 3 | €3,007 | €4,237 | +€1,230 | +40.9% |
| Stocks | 30/36 | €3,007 | €4,237 | +€1,230 | +40.9% |
| Amounts receivable within one year | 40/41 | €309,136 | €714,449 | +€405,312 | +131% |
| Trade receivables | 40 | €309,136 | €714,449 | +€405,312 | +131% |
| Cash at bank and in hand | 54/58 | €227,009 | €45,891 | -€181,117 | -79.8% |
| Deferred charges and accrued income | 490/1 | €32,439 | €16,808 | -€15,632 | -48.2% |
| Total equity and liabilities | 10/49 | €1,412,749 | €1,944,403 | +€531,655 | +37.6% |
| Equity | 10/15 | €171,054 | €213,575 | +€42,521 | +24.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,454 | €194,975 | +€42,521 | +27.9% |
| Amounts payable | 17/49 | €1,241,695 | €1,730,828 | +€489,134 | +39.4% |
| Amounts payable after more than one year | 17 | €651,919 | €982,647 | +€330,728 | +50.7% |
| Financial debts | 170/4 | €651,919 | €982,647 | +€330,728 | +50.7% |
| Amounts payable within one year | 42/48 | €589,775 | €748,181 | +€158,406 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €165,535 | €284,108 | +€118,573 | +71.6% |
| Financial debts | 43 | €76,000 | €100,000 | +€24,000 | +31.6% |
| Credit institutions | 430/8 | €76,000 | €100,000 | +€24,000 | +31.6% |
| Trade debts | 44 | €222,180 | €228,575 | +€6,395 | +2.9% |
| Suppliers | 440/4 | €222,180 | €228,575 | +€6,395 | +2.9% |
| Taxes, remuneration and social security | 45 | €126,032 | €135,498 | +€9,466 | +7.5% |
| Taxes | 450/3 | €30,631 | €39,334 | +€8,703 | +28.4% |
| Remuneration and social security | 454/9 | €95,400 | €96,164 | +€764 | +0.8% |
| Other amounts payable | 47/48 | €28 | - | -€28 | |
| Non-recurring operating income | 76A | - | €57,188 | +€57,188 | |
| Remuneration, social security and pensions | 62 | €730,026 | €613,903 | -€116,123 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €179,917 | €216,167 | +€36,250 | +20.1% |
| Other operating charges | 640/8 | €5,855 | €11,599 | +€5,744 | +98.1% |
| Gross operating margin | 9900 | €966,693 | €933,940 | -€32,753 | -3.4% |
| Operating profit (loss) | 9901 | €50,895 | €92,271 | +€41,376 | +81.3% |
| Financial income | 75/76B | €993 | €4,483 | +€3,490 | +351% |
| Recurring financial income | 75 | €993 | €4,483 | +€3,490 | +351% |
| Financial charges | 65/66B | €39,392 | €54,233 | +€14,841 | +37.7% |
| Recurring financial charges | 65 | €39,392 | €54,233 | +€14,841 | +37.7% |
| Profit (loss) for the period before taxes | 9903 | €12,496 | €42,521 | +€30,025 | +240% |
| Profit (loss) for the period | 9904 | €12,496 | €42,521 | +€30,025 | +240% |
| Profit (loss) for the period to be appropriated | 9905 | €12,496 | €42,521 | +€30,025 | +240% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.