TRANSVERSALE: 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.
TRANSVERSALE
Largest movements
- Receivables within one year +€805,773
up €805,773 (+27.7%), from €2.9m to €3.7m
of which Other amounts receivable: +€776,203
- Financial fixed assets -€416,282
down €416,282 (-18.9%), from €2.2m to €1.8m
- Debts after one year +€504,003
new in 2025: €504,003
- Other debts -€171,549
down €171,549 (-100.0%), from €171,549 to €0
- Current portion of long-term debt +€77,154
new in 2025: €77,154
- Financial income -€1.0m
down €1.0m (-66.5%), from €1.5m to €508,819
- Financial charges +€391,579
up €391,579 (+1036.1%), from €37,795 to €429,374
of which Non-recurring financial charges: +€416,089
- Gross operating margin +€123,438
up €123,438 (+296.1%), from €41,689 to €165,127
- Taxes -€91,597
down €91,597 (-97.0%), from €94,435 to €2,838
- Staff costs +€89,141
up €89,141 (+64.7%), from €137,848 to €226,988
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 | €5,234,003 | €5,640,166 | +€406,163 | +7.8% |
| Fixed assets | 21/28 | €2,204,212 | €1,787,930 | -€416,282 | -18.9% |
| Financial fixed assets | 28 | €2,204,212 | €1,787,930 | -€416,282 | -18.9% |
| Current assets | 29/58 | €3,029,791 | €3,852,236 | +€822,446 | +27.1% |
| Amounts receivable after more than one year | 29 | €119,500 | €119,500 | = | 0.0% |
| Other amounts receivable | 291 | €119,500 | €119,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,909,445 | €3,715,219 | +€805,773 | +27.7% |
| Trade receivables | 40 | - | €29,570 | +€29,570 | |
| Other amounts receivable | 41 | €2,909,445 | €3,685,649 | +€776,203 | +26.7% |
| Cash at bank and in hand | 54/58 | €845 | €17,518 | +€16,672 | +1972.1% |
| Total equity and liabilities | 10/49 | €5,234,003 | €5,640,166 | +€406,163 | +7.8% |
| Equity | 10/15 | €4,904,125 | €4,918,870 | +€14,746 | +0.3% |
| Contributions | 10/11 | €1,322,000 | €1,322,000 | = | 0.0% |
| Capital | 10 | €1,322,000 | €1,322,000 | = | 0.0% |
| Issued capital | 100 | €1,322,000 | €1,322,000 | = | 0.0% |
| Reserves | 13 | €3,581,100 | €3,595,100 | +€14,000 | +0.4% |
| Non-distributable reserves | 130/1 | €113,300 | €113,300 | = | 0.0% |
| Legal reserve | 130 | €113,300 | €113,300 | = | 0.0% |
| Distributable reserves | 133 | €3,467,800 | €3,481,800 | +€14,000 | +0.4% |
| Profit (loss) carried forward | 14 | €1,025 | €1,770 | +€746 | +72.8% |
| Amounts payable | 17/49 | €329,878 | €721,296 | +€391,418 | +118.7% |
| Amounts payable after more than one year | 17 | - | €504,003 | +€504,003 | |
| Financial debts | 170/4 | - | €504,003 | +€504,003 | |
| Amounts payable within one year | 42/48 | €295,759 | €212,895 | -€82,865 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | - | €77,154 | +€77,154 | |
| Financial debts | 43 | €3,164 | €0 | -€3,164 | -100.0% |
| Credit institutions | 430/8 | €3,164 | €0 | -€3,164 | -100.0% |
| Trade debts | 44 | €15,421 | €20,676 | +€5,255 | +34.1% |
| Suppliers | 440/4 | €15,421 | €20,676 | +€5,255 | +34.1% |
| Taxes, remuneration and social security | 45 | €105,625 | €115,065 | +€9,440 | +8.9% |
| Taxes | 450/3 | €78,259 | €82,938 | +€4,679 | +6.0% |
| Remuneration and social security | 454/9 | €27,366 | €32,127 | +€4,761 | +17.4% |
| Other amounts payable | 47/48 | €171,549 | €0 | -€171,549 | -100.0% |
| Accrued charges and deferred income | 492/3 | €34,119 | €4,398 | -€29,720 | -87.1% |
| Remuneration, social security and pensions | 62 | €137,848 | €226,988 | +€89,141 | +64.7% |
| Other operating charges | 640/8 | €5,150 | €0 | -€5,150 | -100.0% |
| Gross operating margin | 9900 | €41,689 | €165,127 | +€123,438 | +296.1% |
| Operating profit (loss) | 9901 | -€101,308 | -€61,861 | +€39,447 | +38.9% |
| Financial income | 75/76B | €1,516,718 | €508,819 | -€1.0m | -66.5% |
| Recurring financial income | 75 | €1,516,718 | €508,819 | -€1.0m | -66.5% |
| Financial charges | 65/66B | €37,795 | €429,374 | +€391,579 | +1036.1% |
| Recurring financial charges | 65 | €37,795 | €13,285 | -€24,510 | -64.8% |
| Non-recurring financial charges | 66B | - | €416,089 | +€416,089 | |
| Profit (loss) for the period before taxes | 9903 | €1,377,614 | €17,583 | -€1.4m | -98.7% |
| Income taxes | 67/77 | €94,435 | €2,838 | -€91,597 | -97.0% |
| Profit (loss) for the period | 9904 | €1,283,179 | €14,746 | -€1.3m | -98.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,283,179 | €14,746 | -€1.3m | -98.9% |
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 4 October 2026 via checked.be.