Travel Dedicated: what changed
What changed
Travel Dedicated
NACE 79.110, Travel agency activities
filed annual accounts (NBB)
Net result for the year
€3,738
2024 · €48,622-€44,884
Equity
€386,337
2024 · €382,599+€3,738
Cash
€166,276
2024 · €200,375-€34,099
Balance sheet total
€550,455
2024 · €443,019+€107,437
Largest movements
Assets
- Receivables within one year +€68,093
up €68,093 (+392%), from €17,381 to €85,473
of which Trade receivables: +€60,967
- Current investments +€57,200
up €57,200 (+27.3%), from €209,638 to €266,838
- Cash -€34,099
down €34,099 (-17.0%), from €200,375 to €166,276
mainly Receivables within one year (-€68,093) and Current investments (-€57,200)
- Stocks and contracts +€13,852
up €13,852 (+149%), from €9,297 to €23,150
Equity and liabilities
- Advances received +€105,739
up €105,739 (+293%), from €36,082 to €141,821
Income statement
- Gross operating margin -€44,589
down €44,589 (-51.9%), from €85,983 to €41,394
- Staff costs +€20,972
up €20,972 (+115%), from €18,247 to €39,219
- Taxes -€20,156
down €20,156 (-82.0%), from €24,581 to €4,426
- Financial income +€6,986
up €6,986 (+1,336%), from €523 to €7,509
- Financial charges +€5,754
up €5,754 (+87.5%), from -€6,577 to -€823
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€48,622
Gross operating margin
-€44,589
Staff costs
-€20,972
Depreciation
-€721
Other operating charges
+€11
Financial income
+€6,986
Financial charges
-€5,754
Taxes
+€20,156
Result 2025
€3,738
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€27,090
Investment
-€61,189
Financing
€0
Cash 2024
€200,375
From operations (derived)
+€27,090
Net result for the year
+€3,738
Depreciation
+€1,863
Stocks and contracts
-€13,852
Receivables within one year
-€68,093
Smaller working-capital items
-€311
Trade debts
-€4,829
Tax, wage and social debts
+€3,959
Advances received
+€105,739
Other debts
-€1,124
Investment (derived)
-€61,189
Investment in fixed assets (net)
-€3,989
Current investments
-€57,200
Cash 2025
€166,276
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €443,019 | €550,455 | +€107,437 | +24.3% |
| Fixed assets | 21/28 | €644 | €2,770 | +€2,127 | +330% |
| Tangible fixed assets | 22/27 | €644 | €2,770 | +€2,127 | +330% |
| Furniture and vehicles | 24 | €644 | €2,770 | +€2,127 | +330% |
| Current assets | 29/58 | €442,375 | €547,685 | +€105,310 | +23.8% |
| Stocks and contracts in progress | 3 | €9,297 | €23,150 | +€13,852 | +149% |
| Contracts in progress | 37 | €9,297 | €23,150 | +€13,852 | +149% |
| Amounts receivable within one year | 40/41 | €17,381 | €85,473 | +€68,093 | +392% |
| Trade receivables | 40 | €11,886 | €72,853 | +€60,967 | +513% |
| Other amounts receivable | 41 | €5,494 | €12,620 | +€7,126 | +130% |
| Current investments | 50/53 | €209,638 | €266,838 | +€57,200 | +27.3% |
| Cash at bank and in hand | 54/58 | €200,375 | €166,276 | -€34,099 | -17.0% |
| Deferred charges and accrued income | 490/1 | €5,684 | €5,948 | +€264 | +4.6% |
| Total equity and liabilities | 10/49 | €443,019 | €550,455 | +€107,437 | +24.3% |
| Equity | 10/15 | €382,599 | €386,337 | +€3,738 | +1.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €316,194 | €319,932 | +€3,738 | +1.2% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €313,694 | €317,432 | +€3,738 | +1.2% |
| Profit (loss) carried forward | 14 | €41,405 | €41,405 | = | 0.0% |
| Amounts payable | 17/49 | €60,420 | €164,118 | +€103,698 | +172% |
| Amounts payable within one year | 42/48 | €60,373 | €164,118 | +€103,745 | +172% |
| Trade debts | 44 | €7,908 | €3,079 | -€4,829 | -61.1% |
| Suppliers | 440/4 | €7,908 | €3,079 | -€4,829 | -61.1% |
| Advances received on contracts in progress | 46 | €36,082 | €141,821 | +€105,739 | +293% |
| Taxes, remuneration and social security | 45 | €9,095 | €13,054 | +€3,959 | +43.5% |
| Taxes | 450/3 | €4,573 | €3,213 | -€1,360 | -29.7% |
| Remuneration and social security | 454/9 | €4,522 | €9,840 | +€5,319 | +118% |
| Other amounts payable | 47/48 | €7,288 | €6,164 | -€1,124 | -15.4% |
| Accrued charges and deferred income | 492/3 | €47 | €0 | -€47 | -100% |
| Remuneration, social security and pensions | 62 | €18,247 | €39,219 | +€20,972 | +115% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,141 | €1,863 | +€721 | +63.2% |
| Other operating charges | 640/8 | €492 | €481 | -€11 | -2.3% |
| Gross operating margin | 9900 | €85,983 | €41,394 | -€44,589 | -51.9% |
| Operating profit (loss) | 9901 | €66,103 | -€169 | -€66,271 | |
| Financial income | 75/76B | €523 | €7,509 | +€6,986 | +1,336% |
| Recurring financial income | 75 | €523 | €7,509 | +€6,986 | +1,336% |
| Financial charges | 65/66B | -€6,577 | -€823 | +€5,754 | +87.5% |
| Recurring financial charges | 65 | -€6,577 | -€823 | +€5,754 | +87.5% |
| Profit (loss) for the period before taxes | 9903 | €73,203 | €8,164 | -€65,039 | -88.8% |
| Income taxes | 67/77 | €24,581 | €4,426 | -€20,156 | -82.0% |
| Profit (loss) for the period | 9904 | €48,622 | €3,738 | -€44,884 | -92.3% |
| Profit (loss) for the period to be appropriated | 9905 | €48,622 | €3,738 | -€44,884 | -92.3% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.