Travel Projects: 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.
Travel Projects
Largest movements
- Receivables within one year +€351,658
up €351,658 (+142%), from €248,000 to €599,658
of which Trade receivables: +€351,172
- Deferred charges and accrued income +€191,831
up €191,831 (+87.7%), from €218,640 to €410,470
- Cash +€68,234
up €68,234 (+33.0%), from €206,768 to €275,001
mainly Accrued charges and deferred income (+€553,298) and Trade debts (+€60,550)
- Accrued charges and deferred income +€553,298
up €553,298 (+449%), from €123,341 to €676,639
- Trade debts +€60,550
up €60,550 (+17.9%), from €339,140 to €399,690
- Depreciation -€1,228
down €1,228 (-43.9%), from €2,798 to €1,570
- Gross operating margin +€1,013
up €1,013 (+10.3%), from €9,838 to €10,852
- Other operating charges -€745
down €745 (-37.0%), from €2,010 to €1,265
- Taxes -€550
down €550 (-20.8%), from €2,645 to €2,095
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 | €678,891 | €1,301,414 | +€622,523 | +91.7% |
| Fixed assets | 21/28 | €5,484 | €16,284 | +€10,800 | +197% |
| Tangible fixed assets | 22/27 | €4,234 | €15,034 | +€10,800 | +255% |
| Land and buildings | 22 | €4,234 | €15,034 | +€10,800 | +255% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €673,407 | €1,285,130 | +€611,723 | +90.8% |
| Amounts receivable within one year | 40/41 | €248,000 | €599,658 | +€351,658 | +142% |
| Trade receivables | 40 | €247,073 | €598,246 | +€351,172 | +142% |
| Other amounts receivable | 41 | €926 | €1,413 | +€486 | +52.5% |
| Cash at bank and in hand | 54/58 | €206,768 | €275,001 | +€68,234 | +33.0% |
| Deferred charges and accrued income | 490/1 | €218,640 | €410,470 | +€191,831 | +87.7% |
| Total equity and liabilities | 10/49 | €678,891 | €1,301,414 | +€622,523 | +91.7% |
| Equity | 10/15 | €175,041 | €180,903 | +€5,861 | +3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,704 | €11,704 | = | 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% |
| Tax-exempt reserves | 132 | €9,844 | €9,844 | = | 0.0% |
| Profit (loss) carried forward | 14 | €144,738 | €150,599 | +€5,861 | +4.0% |
| Amounts payable | 17/49 | €503,850 | €1,120,511 | +€616,662 | +122% |
| Amounts payable after more than one year | 17 | €27,098 | €24,320 | -€2,778 | -10.3% |
| Financial debts | 170/4 | €27,098 | €24,320 | -€2,778 | -10.3% |
| Amounts payable within one year | 42/48 | €353,410 | €419,552 | +€66,142 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €4,500 | €4,004 | -€496 | -11.0% |
| Trade debts | 44 | €339,140 | €399,690 | +€60,550 | +17.9% |
| Suppliers | 440/4 | €339,140 | €399,690 | +€60,550 | +17.9% |
| Advances received on contracts in progress | 46 | - | €8,272 | +€8,272 | |
| Taxes, remuneration and social security | 45 | €9,770 | €7,586 | -€2,184 | -22.4% |
| Taxes | 450/3 | €9,770 | €7,586 | -€2,184 | -22.4% |
| Accrued charges and deferred income | 492/3 | €123,341 | €676,639 | +€553,298 | +449% |
| Non-recurring operating income | 76A | - | €11,765 | +€11,765 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,798 | €1,570 | -€1,228 | -43.9% |
| Other operating charges | 640/8 | €2,010 | €1,265 | -€745 | -37.0% |
| Gross operating margin | 9900 | €9,838 | €10,852 | +€1,013 | +10.3% |
| Operating profit (loss) | 9901 | €5,031 | €8,017 | +€2,986 | +59.3% |
| Financial income | 75/76B | €298 | €384 | +€86 | +28.7% |
| Recurring financial income | 75 | €298 | €384 | +€86 | +28.7% |
| Financial charges | 65/66B | €539 | €445 | -€94 | -17.4% |
| Recurring financial charges | 65 | €539 | €445 | -€94 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €4,791 | €7,956 | +€3,165 | +66.1% |
| Income taxes | 67/77 | €2,645 | €2,095 | -€550 | -20.8% |
| Profit (loss) for the period | 9904 | €2,145 | €5,861 | +€3,716 | +173% |
| Profit (loss) for the period to be appropriated | 9905 | €2,145 | €5,861 | +€3,716 | +173% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.