TRAVARD: 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.
TRAVARD
Largest movements
- Deferred charges and accrued income -€15,388
down €15,388 (-80.3%), from €19,161 to €3,773
- Receivables within one year +€14,494
up €14,494 (+91.6%), from €15,823 to €30,317
of which Trade receivables: +€11,498
- Stocks and contracts +€11,437
up €11,437 (+610%), from €1,874 to €13,311
- Tangible fixed assets -€5,317
down €5,317 (-60.0%), from €8,857 to €3,540
of which Furniture and vehicles: -€6,479
- Cash -€4,989
down €4,989 (-57.8%), from €8,635 to €3,646
mainly Receivables within one year (-€14,494) and Stocks and contracts (-€11,437)
- Trade debts -€7,228
down €7,228 (-88.7%), from €8,151 to €922
of which Suppliers: -€4,701
- Short-term financial debts +€3,614
new in 2025: €3,614
- Tax, wage and social debts +€3,067
up €3,067 (+137%), from €2,233 to €5,300
of which Remuneration and social security: +€4,700
- Profit (loss) carried forward +€785
up €785 (+2.6%), from €29,756 to €30,542
- Purchases and services +€24,393
up €24,393 (+16.7%), from €146,017 to €170,411
- Turnover +€22,132
up €22,132 (+13.9%), from €159,452 to €181,583
- Gross operating margin -€2,262
down €2,262 (-16.8%), from €13,434 to €11,173
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.
Derived cash bridge
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 | €54,401 | €54,638 | +€238 | +0.4% |
| Fixed assets | 21/28 | €8,907 | €3,590 | -€5,317 | -59.7% |
| Tangible fixed assets | 22/27 | €8,857 | €3,540 | -€5,317 | -60.0% |
| Plant, machinery and equipment | 23 | - | €1,162 | +€1,162 | |
| Furniture and vehicles | 24 | €8,857 | €2,379 | -€6,479 | -73.1% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €45,493 | €51,048 | +€5,555 | +12.2% |
| Stocks and contracts in progress | 3 | €1,874 | €13,311 | +€11,437 | +610% |
| Stocks | 30/36 | €1,874 | €13,311 | +€11,437 | +610% |
| Amounts receivable within one year | 40/41 | €15,823 | €30,317 | +€14,494 | +91.6% |
| Trade receivables | 40 | €15,623 | €27,121 | +€11,498 | +73.6% |
| Other amounts receivable | 41 | €200 | €3,196 | +€2,996 | +1,498% |
| Cash at bank and in hand | 54/58 | €8,635 | €3,646 | -€4,989 | -57.8% |
| Deferred charges and accrued income | 490/1 | €19,161 | €3,773 | -€15,388 | -80.3% |
| Total equity and liabilities | 10/49 | €54,401 | €54,638 | +€238 | +0.4% |
| Equity | 10/15 | €44,016 | €44,802 | +€785 | +1.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €29,756 | €30,542 | +€785 | +2.6% |
| Amounts payable | 17/49 | €10,384 | €9,837 | -€547 | -5.3% |
| Amounts payable within one year | 42/48 | €10,384 | €9,837 | -€547 | -5.3% |
| Financial debts | 43 | - | €3,614 | +€3,614 | |
| Credit institutions | 430/8 | - | €3,614 | +€3,614 | |
| Trade debts | 44 | €8,151 | €922 | -€7,228 | -88.7% |
| Suppliers | 440/4 | €5,459 | €758 | -€4,701 | -86.1% |
| Bills of exchange payable | 441 | €2,692 | €164 | -€2,528 | -93.9% |
| Taxes, remuneration and social security | 45 | €2,233 | €5,300 | +€3,067 | +137% |
| Taxes | 450/3 | €2,233 | €600 | -€1,633 | -73.1% |
| Remuneration and social security | 454/9 | - | €4,700 | +€4,700 | |
| Turnover | 70 | €159,452 | €181,583 | +€22,132 | +13.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €146,017 | €170,411 | +€24,393 | +16.7% |
| Remuneration, social security and pensions | 62 | €3,049 | €2,442 | -€607 | -19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,768 | €6,507 | -€261 | -3.9% |
| Other operating charges | 640/8 | €1,178 | €536 | -€642 | -54.5% |
| Gross operating margin | 9900 | €13,434 | €11,173 | -€2,262 | -16.8% |
| Operating profit (loss) | 9901 | €2,439 | €1,688 | -€752 | -30.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +100% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +100% |
| Financial charges | 65/66B | €229 | €220 | -€9 | -3.9% |
| Recurring financial charges | 65 | €229 | €220 | -€9 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €2,210 | €1,468 | -€743 | -33.6% |
| Transfer from deferred taxes | 780 | €266 | - | -€266 | |
| Income taxes | 67/77 | €1,090 | €683 | -€407 | -37.4% |
| Profit (loss) for the period | 9904 | €1,386 | €785 | -€601 | -43.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,386 | €785 | -€601 | -43.4% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.