TRASIS: 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.
What changed
TRASIS
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€10.4m
2024 · €10.2m+€130,255
Equity
€55.9m
2024 · €46.4m+€9.5m
Cash
€2.7m
2024 · €2.6m+€22,771
Balance sheet total
€94.7m
2024 · €81.9m+€12.8m
Largest movements
Assets
- Intangible fixed assets +€7.3m
up €7.3m (+48.2%), from €15.1m to €22.4m
- Receivables within one year +€4.5m
up €4.5m (+28.6%), from €15.7m to €20.1m
of which Trade receivables: +€5.2m
- Tangible fixed assets +€1.2m
up €1.2m (+12.8%), from €9.5m to €10.7m
of which Assets under construction and advance payments: +€1.7m
Equity and liabilities
- Reserves +€9.6m
up €9.6m (+21.6%), from €44.7m to €54.3m
of which Distributable reserves: +€8.7m
- Debts after one year -€2.0m
down €2.0m (-14.6%), from €13.7m to €11.7m
- Trade debts +€1.8m
up €1.8m (+31.1%), from €5.7m to €7.5m
- Advances received +€1.0m
up €1.0m (+47.9%), from €2.1m to €3.1m
Income statement
- Turnover +€12.3m
up €12.3m (+18.0%), from €68.1m to €80.4m
- Goods and materials +€5.5m
up €5.5m (+20.3%), from €27.1m to €32.6m
of which Purchases: +€5.5m
- Staff costs +€4.4m
up €4.4m (+21.5%), from €20.7m to €25.1m
- Services and other goods +€3.5m
up €3.5m (+25.4%), from €13.6m to €17.0m
- Depreciation +€982,851
up €982,851 (+16.0%), from €6.1m to €7.1m
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.
Result 2024
€10.2m
Turnover
+€12.3m
Other operating income
-€105,047
Goods and materials
-€5.5m
Services and other goods
-€3.5m
Staff costs
-€4.4m
Depreciation
-€982,851
Write-downs
+€306,116
Provisions
+€954,627
Other operating charges
+€3,819
Other operating items
+€1.9m
Financial income
-€266,986
Financial charges
-€974,972
Taxes
+€473,450
Result 2025
€10.4m
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.
From operations
+€16.6m
Investment
-€15.0m
Financing
-€1.5m
Cash 2024
€2.6m
From operations (derived)
+€16.6m
Net result for the year
+€10.4m
Depreciation
+€7.1m
Receivables after one year
-€57,803
Stocks and contracts
-€77,377
Receivables within one year
-€4.5m
Deferred charges and accrued income
-€216,698
Provisions
-€743,577
Trade debts
+€1.8m
Tax, wage and social debts
+€922,410
Advances received
+€1.0m
Other debts
+€719,531
Accrued charges and deferred income
+€245,308
Investment (derived)
-€15.0m
Investment in fixed assets (net)
-€15.0m
Financing
-€1.5m
Debts after one year
-€2.0m
Current portion of long-term debt
+€513,356
Short-term financial debts
+€800,296
Contributions, distributions and other
-€831,358
Cash 2025
€2.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,936,558 | €94,715,673 | +€12.8m | +15.6% |
| Fixed assets | 21/28 | €30,449,481 | €38,378,638 | +€7.9m | +26.0% |
| Intangible fixed assets | 21 | €15,107,267 | €22,391,299 | +€7.3m | +48.2% |
| Tangible fixed assets | 22/27 | €9,471,350 | €10,686,759 | +€1.2m | +12.8% |
| Plant, machinery and equipment | 23 | €2,164,206 | €2,075,117 | -€89,089 | -4.1% |
| Furniture and vehicles | 24 | €1,156,621 | €1,070,824 | -€85,797 | -7.4% |
| Other tangible fixed assets | 26 | €2,317,863 | €2,015,700 | -€302,163 | -13.0% |
| Assets under construction and advance payments | 27 | €3,832,660 | €5,525,118 | +€1.7m | +44.2% |
| Financial fixed assets | 28 | €5,870,864 | €5,300,580 | -€570,284 | -9.7% |
| Affiliated companies | 280/1 | €4,689,190 | €4,689,190 | = | 0.0% |
| Participating interests | 280 | €4,689,190 | €4,689,190 | = | 0.0% |
| Amounts receivable | 281 | €0 | - | = | |
| Other financial fixed assets | 284/8 | €1,181,674 | €611,390 | -€570,284 | -48.3% |
| Shares | 284 | €1,164,487 | €602,003 | -€562,484 | -48.3% |
| Amounts receivable and cash guarantees | 285/8 | €17,187 | €9,387 | -€7,800 | -45.4% |
| Current assets | 29/58 | €51,487,077 | €56,337,035 | +€4.8m | +9.4% |
| Amounts receivable after more than one year | 29 | €0 | €57,803 | +€57,803 | |
| Trade receivables | 290 | €0 | €57,803 | +€57,803 | |
| Stocks and contracts in progress | 3 | €31,856,373 | €31,933,750 | +€77,377 | +0.2% |
| Stocks | 30/36 | €31,856,373 | €31,933,750 | +€77,377 | +0.2% |
| Raw materials and consumables | 30/31 | €18,746,266 | €18,914,532 | +€168,266 | +0.9% |
| Finished goods | 33 | €7,790,233 | €8,163,078 | +€372,845 | +4.8% |
| Goods purchased for resale | 34 | €5,319,874 | €4,856,140 | -€463,734 | -8.7% |
| Amounts receivable within one year | 40/41 | €15,657,874 | €20,133,183 | +€4.5m | +28.6% |
| Trade receivables | 40 | €13,276,881 | €18,484,226 | +€5.2m | +39.2% |
| Other amounts receivable | 41 | €2,380,993 | €1,648,957 | -€732,036 | -30.7% |
| Cash at bank and in hand | 54/58 | €2,639,846 | €2,662,617 | +€22,771 | +0.9% |
| Deferred charges and accrued income | 490/1 | €1,332,984 | €1,549,682 | +€216,698 | +16.3% |
| Total equity and liabilities | 10/49 | €81,936,558 | €94,715,673 | +€12.8m | +15.6% |
| Equity | 10/15 | €46,395,543 | €55,938,265 | +€9.5m | +20.6% |
| Contributions | 10/11 | €539,000 | €539,000 | = | 0.0% |
| Capital | 10 | €539,000 | €539,000 | = | 0.0% |
| Issued capital | 100 | €539,000 | €539,000 | = | 0.0% |
| Reserves | 13 | €44,684,225 | €54,331,475 | +€9.6m | +21.6% |
| Non-distributable reserves | 130/1 | €63,500 | €63,500 | = | 0.0% |
| Legal reserve | 130 | €63,500 | €63,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,620,725 | €3,567,975 | +€947,250 | +36.1% |
| Distributable reserves | 133 | €42,000,000 | €50,700,000 | +€8.7m | +20.7% |
| Profit (loss) carried forward | 14 | €283,605 | €396,110 | +€112,505 | +39.7% |
| Investment grants | 15 | €888,713 | €671,680 | -€217,033 | -24.4% |
| Provisions and deferred taxes | 16 | €1,134,190 | €390,613 | -€743,577 | -65.6% |
| Provisions for liabilities and charges | 160/5 | €1,134,190 | €390,613 | -€743,577 | -65.6% |
| Other liabilities and charges | 164/5 | €1,134,190 | €390,613 | -€743,577 | -65.6% |
| Amounts payable | 17/49 | €34,406,825 | €38,386,795 | +€4.0m | +11.6% |
| Amounts payable after more than one year | 17 | €13,657,813 | €11,658,722 | -€2.0m | -14.6% |
| Financial debts | 170/4 | €13,657,813 | €11,658,722 | -€2.0m | -14.6% |
| Credit institutions | 173 | €13,657,813 | €11,658,722 | -€2.0m | -14.6% |
| Amounts payable within one year | 42/48 | €20,003,320 | €25,737,073 | +€5.7m | +28.7% |
| Current portion of amounts payable after more than one year | 42 | €3,693,966 | €4,207,322 | +€513,356 | +13.9% |
| Financial debts | 43 | €3,415,477 | €4,215,773 | +€800,296 | +23.4% |
| Credit institutions | 430/8 | €2,310,477 | €2,360,773 | +€50,296 | +2.2% |
| Other loans | 439 | €1,105,000 | €1,855,000 | +€750,000 | +67.9% |
| Trade debts | 44 | €5,700,195 | €7,472,969 | +€1.8m | +31.1% |
| Suppliers | 440/4 | €5,700,195 | €7,472,969 | +€1.8m | +31.1% |
| Advances received on contracts in progress | 46 | €2,100,614 | €3,106,000 | +€1.0m | +47.9% |
| Taxes, remuneration and social security | 45 | €3,757,980 | €4,680,390 | +€922,410 | +24.5% |
| Taxes | 450/3 | €601,712 | €256,688 | -€345,024 | -57.3% |
| Remuneration and social security | 454/9 | €3,156,268 | €4,423,702 | +€1.3m | +40.2% |
| Other amounts payable | 47/48 | €1,335,088 | €2,054,619 | +€719,531 | +53.9% |
| Accrued charges and deferred income | 492/3 | €745,692 | €991,000 | +€245,308 | +32.9% |
| Operating income | 70/76A | €79,476,100 | €93,372,123 | +€13.9m | +17.5% |
| Turnover | 70 | €68,078,527 | €80,356,239 | +€12.3m | +18.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,575,128 | €140,149 | -€1.4m | -91.1% |
| Own construction capitalised | 72 | €8,137,697 | €11,296,034 | +€3.2m | +38.8% |
| Other operating income | 74 | €1,684,748 | €1,579,701 | -€105,047 | -6.2% |
| Operating charges | 60/66A | €68,517,203 | €81,514,463 | +€13.0m | +19.0% |
| Goods for resale, raw materials and consumables | 60 | €27,103,578 | €32,617,272 | +€5.5m | +20.3% |
| Purchases | 600/8 | €27,398,177 | €32,896,914 | +€5.5m | +20.1% |
| Change in stocks: decrease (increase) | 609 | -€294,599 | -€279,642 | +€14,957 | +5.1% |
| Services and other goods | 61 | €13,582,632 | €17,036,468 | +€3.5m | +25.4% |
| Remuneration, social security and pensions | 62 | €20,672,509 | €25,119,823 | +€4.4m | +21.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,130,100 | €7,112,951 | +€982,851 | +16.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €648,530 | €342,414 | -€306,116 | -47.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €211,050 | -€743,577 | -€954,627 | |
| Other operating charges | 640/8 | €32,931 | €29,112 | -€3,819 | -11.6% |
| Non-recurring operating charges | 66A | €135,873 | - | -€135,873 | |
| Operating profit (loss) | 9901 | €10,958,897 | €11,857,660 | +€898,763 | +8.2% |
| Financial income | 75/76B | €1,372,425 | €1,105,439 | -€266,986 | -19.5% |
| Recurring financial income | 75 | €1,372,425 | €1,105,439 | -€266,986 | -19.5% |
| Income from financial fixed assets | 750 | €650,000 | €550,000 | -€100,000 | -15.4% |
| Income from current assets | 751 | €39,430 | €30,196 | -€9,234 | -23.4% |
| Other financial income | 752/9 | €682,995 | €525,243 | -€157,752 | -23.1% |
| Financial charges | 65/66B | €1,345,900 | €2,320,872 | +€974,972 | +72.4% |
| Recurring financial charges | 65 | €1,345,900 | €1,720,887 | +€374,987 | +27.9% |
| Debt charges | 650 | €996,842 | €988,943 | -€7,899 | -0.8% |
| Other financial charges | 652/9 | €349,058 | €731,944 | +€382,886 | +109.7% |
| Non-recurring financial charges | 66B | - | €599,985 | +€599,985 | |
| Profit (loss) for the period before taxes | 9903 | €10,985,422 | €10,642,227 | -€343,195 | -3.1% |
| Income taxes | 67/77 | €741,597 | €268,147 | -€473,450 | -63.8% |
| Taxes | 670/3 | €741,597 | €443,480 | -€298,117 | -40.2% |
| Tax adjustments and reversals of tax provisions | 77 | - | €175,333 | +€175,333 | |
| Profit (loss) for the period | 9904 | €10,243,825 | €10,374,080 | +€130,255 | +1.3% |
| Transfer to tax-exempt reserves | 689 | - | €947,250 | +€947,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,243,825 | €9,426,830 | -€816,995 | -8.0% |
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 30 September 2026 via checked.be.