TRANSVERO: 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.
TRANSVERO
Largest movements
- Cash +€85,105
up €85,105 (+112%), from €75,834 to €160,938
mainly Depreciation (+€296,059) and Other debts (+€123,605)
- Tangible fixed assets +€84,830
up €84,830 (+12.1%), from €702,162 to €786,992
of which Leasing and similar rights: +€199,189
- Receivables within one year +€59,665
up €59,665 (+17.2%), from €346,756 to €406,421
of which Trade receivables: +€55,690
- Current investments -€25,000
no longer reported in 2025 (was €25,000)
- Deferred charges and accrued income +€17,278
up €17,278 (+60.5%), from €28,572 to €45,850
- Other debts +€123,605
up €123,605 (+2,114%), from €5,846 to €129,452
- Debts after one year +€59,114
up €59,114 (+17.7%), from €334,010 to €393,124
- Tax, wage and social debts +€31,730
up €31,730 (+42.8%), from €74,053 to €105,783
of which Remuneration and social security: +€19,809
- Reserves -€29,726
down €29,726 (-6.3%), from €471,201 to €441,474
of which Distributable reserves: -€32,726
- Trade debts +€24,601
up €24,601 (+39.4%), from €62,441 to €87,042
- Gross operating margin +€383,108
up €383,108 (+29.6%), from €1.3m to €1.7m
- Staff costs +€272,648
up €272,648 (+28.9%), from €942,735 to €1.2m
- Depreciation +€59,783
up €59,783 (+25.3%), from €236,276 to €296,059
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 | €1,179,578 | €1,401,456 | +€221,878 | +18.8% |
| Fixed assets | 21/28 | €703,417 | €788,247 | +€84,830 | +12.1% |
| Tangible fixed assets | 22/27 | €702,162 | €786,992 | +€84,830 | +12.1% |
| Land and buildings | 22 | €111,971 | €95,973 | -€15,999 | -14.3% |
| Plant, machinery and equipment | 23 | €11,241 | €7,731 | -€3,510 | -31.2% |
| Furniture and vehicles | 24 | €181,097 | €86,247 | -€94,850 | -52.4% |
| Leasing and similar rights | 25 | €397,852 | €597,041 | +€199,189 | +50.1% |
| Financial fixed assets | 28 | €1,255 | €1,255 | = | 0.0% |
| Current assets | 29/58 | €476,161 | €613,209 | +€137,048 | +28.8% |
| Amounts receivable within one year | 40/41 | €346,756 | €406,421 | +€59,665 | +17.2% |
| Trade receivables | 40 | €340,160 | €395,849 | +€55,690 | +16.4% |
| Other amounts receivable | 41 | €6,596 | €10,572 | +€3,976 | +60.3% |
| Current investments | 50/53 | €25,000 | - | -€25,000 | |
| Cash at bank and in hand | 54/58 | €75,834 | €160,938 | +€85,105 | +112% |
| Deferred charges and accrued income | 490/1 | €28,572 | €45,850 | +€17,278 | +60.5% |
| Total equity and liabilities | 10/49 | €1,179,578 | €1,401,456 | +€221,878 | +18.8% |
| Equity | 10/15 | €477,401 | €447,674 | -€29,726 | -6.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €471,201 | €441,474 | -€29,726 | -6.3% |
| Tax-exempt reserves | 132 | €122,600 | €125,600 | +€3,000 | +2.4% |
| Distributable reserves | 133 | €348,601 | €315,874 | -€32,726 | -9.4% |
| Amounts payable | 17/49 | €702,177 | €953,782 | +€251,605 | +35.8% |
| Amounts payable after more than one year | 17 | €334,010 | €393,124 | +€59,114 | +17.7% |
| Financial debts | 170/4 | €334,010 | €393,124 | +€59,114 | +17.7% |
| Amounts payable within one year | 42/48 | €354,507 | €533,442 | +€178,935 | +50.5% |
| Current portion of amounts payable after more than one year | 42 | €212,168 | €211,102 | -€1,066 | -0.5% |
| Trade debts | 44 | €62,441 | €87,042 | +€24,601 | +39.4% |
| Suppliers | 440/4 | €62,441 | €87,042 | +€24,601 | +39.4% |
| Advances received on contracts in progress | 46 | - | €64 | +€64 | |
| Taxes, remuneration and social security | 45 | €74,053 | €105,783 | +€31,730 | +42.8% |
| Taxes | 450/3 | €1,842 | €13,763 | +€11,921 | +647% |
| Remuneration and social security | 454/9 | €72,211 | €92,020 | +€19,809 | +27.4% |
| Other amounts payable | 47/48 | €5,846 | €129,452 | +€123,605 | +2,114% |
| Accrued charges and deferred income | 492/3 | €13,660 | €27,216 | +€13,556 | +99.2% |
| Non-recurring operating income | 76A | - | €7,802 | +€7,802 | |
| Remuneration, social security and pensions | 62 | €942,735 | €1,215,383 | +€272,648 | +28.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €236,276 | €296,059 | +€59,783 | +25.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €450 | - | -€450 | |
| Other operating charges | 640/8 | €5,456 | €8,346 | +€2,890 | +53.0% |
| Non-recurring operating charges | 66A | €1,745 | €2,170 | +€426 | +24.4% |
| Gross operating margin | 9900 | €1,294,026 | €1,677,134 | +€383,108 | +29.6% |
| Operating profit (loss) | 9901 | €107,364 | €155,175 | +€47,811 | +44.5% |
| Financial income | 75/76B | €6,852 | €2,595 | -€4,257 | -62.1% |
| Recurring financial income | 75 | €6,852 | €2,595 | -€4,257 | -62.1% |
| Financial charges | 65/66B | €27,834 | €26,232 | -€1,603 | -5.8% |
| Recurring financial charges | 65 | €27,834 | €26,232 | -€1,603 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €86,381 | €131,538 | +€45,157 | +52.3% |
| Income taxes | 67/77 | €29,451 | €30,106 | +€654 | +2.2% |
| Profit (loss) for the period | 9904 | €56,930 | €101,432 | +€44,503 | +78.2% |
| Transfer to tax-exempt reserves | 689 | - | €3,000 | +€3,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,930 | €98,432 | +€41,503 | +72.9% |
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 16 October 2026 via checked.be.