TRAQO: 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.
TRAQO
Largest movements
- Cash +€267,190
up €267,190 (+489.1%), from €54,632 to €321,822
mainly Trade debts (+€250,439) and Depreciation (+€61,561)
- Tangible fixed assets -€52,494
down €52,494 (-4.6%), from €1.1m to €1.1m
- Receivables within one year +€32,643
up €32,643 (+49.2%), from €66,390 to €99,033
of which Trade receivables: +€31,055
- Stocks and contracts -€32,337
down €32,337 (-11.6%), from €279,748 to €247,412
- Trade debts +€250,439
up €250,439 (+957.6%), from €26,152 to €276,591
- Debts after one year -€56,486
down €56,486 (-7.6%), from €743,154 to €686,668
- Gross operating margin +€22,263
up €22,263 (+24.2%), from €91,823 to €114,086
- Taxes +€8,507
up €8,507 (+559.9%), from €1,519 to €10,026
- Depreciation -€3,092
down €3,092 (-4.8%), from €64,653 to €61,561
- Financial charges -€2,765
down €2,765 (-11.4%), from €24,155 to €21,389
- Financial income -€2,038
down €2,038 (-99.0%), from €2,059 to €21
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 | €1,548,391 | €1,763,923 | +€215,532 | +13.9% |
| Fixed assets | 21/28 | €1,146,350 | €1,093,856 | -€52,494 | -4.6% |
| Tangible fixed assets | 22/27 | €1,146,350 | €1,093,856 | -€52,494 | -4.6% |
| Land and buildings | 22 | €1,054,327 | €1,037,797 | -€16,530 | -1.6% |
| Plant, machinery and equipment | 23 | €61,419 | €35,753 | -€25,666 | -41.8% |
| Furniture and vehicles | 24 | €30,604 | €20,306 | -€10,298 | -33.6% |
| Current assets | 29/58 | €402,041 | €670,067 | +€268,026 | +66.7% |
| Stocks and contracts in progress | 3 | €279,748 | €247,412 | -€32,337 | -11.6% |
| Stocks | 30/36 | €279,748 | €247,412 | -€32,337 | -11.6% |
| Amounts receivable within one year | 40/41 | €66,390 | €99,033 | +€32,643 | +49.2% |
| Trade receivables | 40 | €65,889 | €96,944 | +€31,055 | +47.1% |
| Other amounts receivable | 41 | €500 | €2,089 | +€1,589 | +317.6% |
| Cash at bank and in hand | 54/58 | €54,632 | €321,822 | +€267,190 | +489.1% |
| Deferred charges and accrued income | 490/1 | €1,271 | €1,800 | +€529 | +41.6% |
| Total equity and liabilities | 10/49 | €1,548,391 | €1,763,923 | +€215,532 | +13.9% |
| Equity | 10/15 | €354,677 | €366,961 | +€12,284 | +3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €348,477 | €360,761 | +€12,284 | +3.5% |
| Tax-exempt reserves | 132 | €152,918 | €145,526 | -€7,392 | -4.8% |
| Distributable reserves | 133 | €195,560 | €215,235 | +€19,676 | +10.1% |
| Provisions and deferred taxes | 16 | €78,741 | €74,935 | -€3,806 | -4.8% |
| Deferred taxes | 168 | €78,741 | €74,935 | -€3,806 | -4.8% |
| Amounts payable | 17/49 | €1,114,974 | €1,322,027 | +€207,054 | +18.6% |
| Amounts payable after more than one year | 17 | €743,154 | €686,668 | -€56,486 | -7.6% |
| Financial debts | 170/4 | €743,154 | €686,668 | -€56,486 | -7.6% |
| Amounts payable within one year | 42/48 | €371,819 | €635,359 | +€263,540 | +70.9% |
| Current portion of amounts payable after more than one year | 42 | €59,083 | €56,486 | -€2,597 | -4.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €26,152 | €276,591 | +€250,439 | +957.6% |
| Suppliers | 440/4 | €26,152 | €276,591 | +€250,439 | +957.6% |
| Taxes, remuneration and social security | 45 | €19,490 | €19,286 | -€204 | -1.0% |
| Taxes | 450/3 | €19,490 | €19,286 | -€204 | -1.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €267,094 | €282,996 | +€15,902 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,653 | €61,561 | -€3,092 | -4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €10,694 | €12,653 | +€1,959 | +18.3% |
| Gross operating margin | 9900 | €91,823 | €114,086 | +€22,263 | +24.2% |
| Operating profit (loss) | 9901 | €16,476 | €39,873 | +€23,396 | +142.0% |
| Financial income | 75/76B | €2,059 | €21 | -€2,038 | -99.0% |
| Recurring financial income | 75 | €2,059 | €21 | -€2,038 | -99.0% |
| Financial charges | 65/66B | €24,155 | €21,389 | -€2,765 | -11.4% |
| Recurring financial charges | 65 | €24,155 | €21,389 | -€2,765 | -11.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,619 | €18,505 | +€24,124 | |
| Transfer from deferred taxes | 780 | €3,806 | €3,806 | = | 0.0% |
| Income taxes | 67/77 | €1,519 | €10,026 | +€8,507 | +559.9% |
| Profit (loss) for the period | 9904 | -€3,333 | €12,284 | +€15,617 | |
| Transfer from tax-exempt reserves | 789 | €7,392 | €7,392 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,059 | €19,676 | +€15,617 | +384.8% |
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 10 October 2026 via checked.be.