TRAVAGRI: 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.
TRAVAGRI
Largest movements
- Tangible fixed assets -€38,856
down €38,856 (-23.1%), from €168,464 to €129,608
of which Furniture and vehicles: -€41,802
- Cash +€9,437
up €9,437 (+248.7%), from €3,794 to €13,231
mainly Depreciation (+€44,268) and Trade debts (+€12,855)
- Receivables within one year +€2,115
up €2,115 (+9.4%), from €22,499 to €24,614
of which Trade receivables: +€9,152
- Debts after one year -€20,104
down €20,104 (-40.0%), from €50,255 to €30,151
- Current portion of long-term debt -€16,773
down €16,773 (-45.5%), from €36,877 to €20,104
- Trade debts +€12,855
up €12,855 (+88.4%), from €14,540 to €27,395
- Profit (loss) carried forward -€11,368
down €11,368, from €10,526 to -€842
- Other debts +€8,052
up €8,052 (+16.3%), from €49,445 to €57,497
- Gross operating margin -€15,669
down €15,669 (-15.2%), from €102,981 to €87,312
- Depreciation +€3,123
up €3,123 (+7.6%), from €41,145 to €44,268
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €195,663 | €168,359 | -€27,304 | -14.0% |
| Fixed assets | 21/28 | €169,063 | €130,207 | -€38,856 | -23.0% |
| Tangible fixed assets | 22/27 | €168,464 | €129,608 | -€38,856 | -23.1% |
| Plant, machinery and equipment | 23 | €486 | €3,432 | +€2,946 | +606.2% |
| Furniture and vehicles | 24 | €167,978 | €126,176 | -€41,802 | -24.9% |
| Financial fixed assets | 28 | €599 | €599 | -€0 | 0.0% |
| Current assets | 29/58 | €26,600 | €38,152 | +€11,552 | +43.4% |
| Amounts receivable within one year | 40/41 | €22,499 | €24,614 | +€2,115 | +9.4% |
| Trade receivables | 40 | €15,349 | €24,501 | +€9,152 | +59.6% |
| Other amounts receivable | 41 | €7,150 | €113 | -€7,037 | -98.4% |
| Cash at bank and in hand | 54/58 | €3,794 | €13,231 | +€9,437 | +248.7% |
| Deferred charges and accrued income | 490/1 | €307 | €306 | -€1 | -0.2% |
| Total equity and liabilities | 10/49 | €195,663 | €168,359 | -€27,304 | -14.0% |
| Equity | 10/15 | €34,815 | €22,681 | -€12,134 | -34.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,526 | -€842 | -€11,368 | |
| Investment grants | 15 | €3,829 | €3,063 | -€766 | -20.0% |
| Amounts payable | 17/49 | €160,848 | €145,678 | -€15,170 | -9.4% |
| Amounts payable after more than one year | 17 | €50,255 | €30,151 | -€20,104 | -40.0% |
| Financial debts | 170/4 | €50,255 | €30,151 | -€20,104 | -40.0% |
| Amounts payable within one year | 42/48 | €110,158 | €115,526 | +€5,368 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €36,877 | €20,104 | -€16,773 | -45.5% |
| Trade debts | 44 | €14,540 | €27,395 | +€12,855 | +88.4% |
| Suppliers | 440/4 | €14,540 | €27,395 | +€12,855 | +88.4% |
| Taxes, remuneration and social security | 45 | €9,296 | €10,532 | +€1,236 | +13.3% |
| Taxes | 450/3 | €1,255 | €3,135 | +€1,880 | +149.8% |
| Remuneration and social security | 454/9 | €8,041 | €7,397 | -€644 | -8.0% |
| Other amounts payable | 47/48 | €49,445 | €57,497 | +€8,052 | +16.3% |
| Accrued charges and deferred income | 492/3 | €435 | - | -€435 | |
| Remuneration, social security and pensions | 62 | €48,704 | €48,069 | -€635 | -1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,145 | €44,268 | +€3,123 | +7.6% |
| Other operating charges | 640/8 | €3,153 | €3,931 | +€778 | +24.7% |
| Non-recurring operating charges | 66A | €121 | - | -€121 | |
| Gross operating margin | 9900 | €102,981 | €87,312 | -€15,669 | -15.2% |
| Operating profit (loss) | 9901 | €9,858 | -€8,955 | -€18,813 | |
| Financial income | 75/76B | €775 | €853 | +€78 | +10.1% |
| Recurring financial income | 75 | €775 | €853 | +€78 | +10.1% |
| Financial charges | 65/66B | €2,807 | €3,265 | +€458 | +16.3% |
| Recurring financial charges | 65 | €2,807 | €3,265 | +€458 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €7,826 | -€11,367 | -€19,193 | |
| Profit (loss) for the period | 9904 | €7,826 | -€11,367 | -€19,193 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,826 | -€11,367 | -€19,193 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.