TRANSVU: 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.
TRANSVU
Largest movements
- Tangible fixed assets -€81,871
down €81,871 (-5.9%), from €1.4m to €1.3m
of which Land and buildings: -€76,188
- Stocks and contracts -€49,850
no longer reported in 2025 (was €49,850)
- Debts after one year -€127,550
down €127,550 (-11.8%), from €1.1m to €952,139
- Other debts -€45,916
down €45,916 (-92.7%), from €49,543 to €3,627
- Reserves +€29,269
up €29,269 (+15.0%), from €194,930 to €224,199
of which Distributable reserves: +€29,269
- Gross operating margin +€37,194
up €37,194 (+9.7%), from €385,093 to €422,288
- Depreciation -€28,901
down €28,901 (-26.1%), from €110,772 to €81,871
- Staff costs +€22,191
up €22,191 (+9.3%), from €238,533 to €260,725
- Taxes +€16,830
up €16,830 (+1440.7%), from €1,168 to €17,998
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 | €2,144,423 | €2,018,620 | -€125,803 | -5.9% |
| Fixed assets | 21/28 | €1,389,709 | €1,307,838 | -€81,871 | -5.9% |
| Tangible fixed assets | 22/27 | €1,389,709 | €1,307,838 | -€81,871 | -5.9% |
| Land and buildings | 22 | €1,372,427 | €1,296,239 | -€76,188 | -5.6% |
| Plant, machinery and equipment | 23 | €17,282 | €11,599 | -€5,683 | -32.9% |
| Current assets | 29/58 | €754,714 | €710,782 | -€43,932 | -5.8% |
| Stocks and contracts in progress | 3 | €49,850 | - | -€49,850 | |
| Contracts in progress | 37 | €49,850 | - | -€49,850 | |
| Amounts receivable within one year | 40/41 | €700,362 | €705,423 | +€5,061 | +0.7% |
| Trade receivables | 40 | €600,354 | €605,415 | +€5,061 | +0.8% |
| Other amounts receivable | 41 | €100,008 | €100,008 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,502 | €3,451 | -€1,051 | -23.3% |
| Deferred charges and accrued income | 490/1 | - | €1,908 | +€1,908 | |
| Total equity and liabilities | 10/49 | €2,144,423 | €2,018,620 | -€125,803 | -5.9% |
| Equity | 10/15 | €851,396 | €880,665 | +€29,269 | +3.4% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €194,930 | €224,199 | +€29,269 | +15.0% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €176,930 | €206,199 | +€29,269 | +16.5% |
| Profit (loss) carried forward | 14 | €476,466 | €476,466 | = | 0.0% |
| Amounts payable | 17/49 | €1,293,027 | €1,137,955 | -€155,073 | -12.0% |
| Amounts payable after more than one year | 17 | €1,079,689 | €952,139 | -€127,550 | -11.8% |
| Financial debts | 170/4 | €1,079,689 | €952,139 | -€127,550 | -11.8% |
| Amounts payable within one year | 42/48 | €204,636 | €175,719 | -€28,917 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €126,420 | €127,550 | +€1,130 | +0.9% |
| Trade debts | 44 | €15,563 | €20,783 | +€5,219 | +33.5% |
| Suppliers | 440/4 | €15,563 | €20,783 | +€5,219 | +33.5% |
| Taxes, remuneration and social security | 45 | €13,111 | €23,760 | +€10,649 | +81.2% |
| Taxes | 450/3 | €1,395 | €18,846 | +€17,451 | +1251.2% |
| Remuneration and social security | 454/9 | €11,716 | €4,914 | -€6,802 | -58.1% |
| Other amounts payable | 47/48 | €49,543 | €3,627 | -€45,916 | -92.7% |
| Accrued charges and deferred income | 492/3 | €8,702 | €10,096 | +€1,394 | +16.0% |
| Remuneration, social security and pensions | 62 | €238,533 | €260,725 | +€22,191 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,772 | €81,871 | -€28,901 | -26.1% |
| Other operating charges | 640/8 | €12,545 | €12,823 | +€278 | +2.2% |
| Gross operating margin | 9900 | €385,093 | €422,288 | +€37,194 | +9.7% |
| Operating profit (loss) | 9901 | €23,243 | €66,869 | +€43,626 | +187.7% |
| Financial charges | 65/66B | €21,377 | €19,601 | -€1,775 | -8.3% |
| Recurring financial charges | 65 | €21,377 | €19,601 | -€1,775 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €1,866 | €47,268 | +€45,401 | +2432.9% |
| Income taxes | 67/77 | €1,168 | €17,998 | +€16,830 | +1440.7% |
| Profit (loss) for the period | 9904 | €698 | €29,269 | +€28,571 | +4093.7% |
| Profit (loss) for the period to be appropriated | 9905 | €698 | €29,269 | +€28,571 | +4093.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.