Travaro: 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.
Travaro
Largest movements
- Cash +€130,087
up €130,087 (+13.7%), from €951,917 to €1.1m
mainly Receivables within one year (+€95,906) and Net result for the year (+€69,975)
- Receivables within one year -€95,906
down €95,906 (-14.9%), from €644,715 to €548,809
of which Trade receivables: -€142,882
- Reserves +€60,000
up €60,000 (+7.9%), from €758,334 to €818,334
of which Non-distributable reserves: +€60,000
- Trade debts -€43,608
down €43,608 (-25.2%), from €173,263 to €129,655
- Provisions +€21,135
no longer reported in 2025 (was -€21,135)
- Gross operating margin -€16,166
down €16,166 (-8.0%), from €202,181 to €186,015
- Staff costs -€10,287
down €10,287 (-12.5%), from €82,471 to €72,184
- Financial income +€6,117
up €6,117 (+586.5%), from €1,043 to €7,160
of which Financial income: +€4,861
- Taxes -€4,263
down €4,263 (-10.7%), from €39,933 to €35,670
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 | €1,814,344 | €1,832,061 | +€17,717 | +1.0% |
| Fixed assets | 21/28 | €208,546 | €198,132 | -€10,413 | -5.0% |
| Tangible fixed assets | 22/27 | €94,031 | €83,618 | -€10,413 | -11.1% |
| Land and buildings | 22 | €72,562 | €72,562 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | - | -€0 | |
| Furniture and vehicles | 24 | €21,469 | €11,056 | -€10,413 | -48.5% |
| Financial fixed assets | 28 | €114,515 | €114,515 | = | 0.0% |
| Current assets | 29/58 | €1,605,799 | €1,633,929 | +€28,130 | +1.8% |
| Amounts receivable within one year | 40/41 | €644,715 | €548,809 | -€95,906 | -14.9% |
| Trade receivables | 40 | €633,085 | €490,202 | -€142,882 | -22.6% |
| Other amounts receivable | 41 | €11,631 | €58,607 | +€46,976 | +403.9% |
| Cash at bank and in hand | 54/58 | €951,917 | €1,082,004 | +€130,087 | +13.7% |
| Deferred charges and accrued income | 490/1 | €9,166 | €3,115 | -€6,051 | -66.0% |
| Total equity and liabilities | 10/49 | €1,814,344 | €1,832,061 | +€17,717 | +1.0% |
| Equity | 10/15 | €1,367,481 | €1,437,456 | +€69,975 | +5.1% |
| Contributions | 10/11 | €114,031 | €114,031 | = | 0.0% |
| Capital | 10 | €114,031 | €114,031 | = | 0.0% |
| Issued capital | 100 | €114,031 | €114,031 | = | 0.0% |
| Reserves | 13 | €758,334 | €818,334 | +€60,000 | +7.9% |
| Non-distributable reserves | 130/1 | €266,221 | €326,221 | +€60,000 | +22.5% |
| Legal reserve | 130 | €11,403 | €11,403 | = | 0.0% |
| Reserves not available under the articles | 1311 | €254,818 | €314,818 | +€60,000 | +23.5% |
| Tax-exempt reserves | 132 | €19,873 | €19,873 | = | 0.0% |
| Distributable reserves | 133 | €472,240 | €472,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | €495,116 | €505,091 | +€9,975 | +2.0% |
| Provisions and deferred taxes | 16 | €229,865 | €229,865 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €229,865 | €229,865 | = | 0.0% |
| Major repairs and maintenance | 162 | €229,865 | €229,865 | = | 0.0% |
| Amounts payable | 17/49 | €216,998 | €164,740 | -€52,258 | -24.1% |
| Amounts payable within one year | 42/48 | €216,998 | €164,740 | -€52,258 | -24.1% |
| Trade debts | 44 | €173,263 | €129,655 | -€43,608 | -25.2% |
| Suppliers | 440/4 | €173,263 | €129,655 | -€43,608 | -25.2% |
| Taxes, remuneration and social security | 45 | €42,438 | €32,681 | -€9,757 | -23.0% |
| Taxes | 450/3 | €33,800 | €26,545 | -€7,255 | -21.5% |
| Remuneration and social security | 454/9 | €8,638 | €6,136 | -€2,502 | -29.0% |
| Other amounts payable | 47/48 | €1,297 | €2,404 | +€1,107 | +85.3% |
| Remuneration, social security and pensions | 62 | €82,471 | €72,184 | -€10,287 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,326 | €10,413 | +€87 | +0.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€21,135 | - | +€21,135 | |
| Other operating charges | 640/8 | €3,050 | €3,207 | +€157 | +5.2% |
| Gross operating margin | 9900 | €202,181 | €186,015 | -€16,166 | -8.0% |
| Operating profit (loss) | 9901 | €127,469 | €100,210 | -€27,259 | -21.4% |
| Financial income | 75/76B | €1,043 | €7,160 | +€6,117 | +586.5% |
| Recurring financial income | 75 | €1,043 | €5,904 | +€4,861 | +466.0% |
| Non-recurring financial income | 76B | - | €1,256 | +€1,256 | |
| Financial charges | 65/66B | €1,368 | €1,725 | +€357 | +26.1% |
| Recurring financial charges | 65 | €1,131 | €1,725 | +€594 | +52.5% |
| Non-recurring financial charges | 66B | €237 | - | -€237 | |
| Profit (loss) for the period before taxes | 9903 | €127,143 | €105,645 | -€21,499 | -16.9% |
| Income taxes | 67/77 | €39,933 | €35,670 | -€4,263 | -10.7% |
| Profit (loss) for the period | 9904 | €87,210 | €69,975 | -€17,235 | -19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €87,210 | €69,975 | -€17,235 | -19.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.