TRAVEL STUDIO: 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 STUDIO
Largest movements
- Receivables within one year +€2,596
up €2,596 (+3.5%), from €75,189 to €77,785
of which Other amounts receivable: +€2,596
- Tangible fixed assets -€2,247
down €2,247 (-22.1%), from €10,185 to €7,938
- Other debts +€6,313
up €6,313 (+1,052%), from €600 to €6,913
- Profit (loss) carried forward -€6,127
down €6,127 (-29.4%), from -€20,838 to -€26,965
- Gross operating margin -€1,870
down €1,870 (-65.0%), from €2,879 to €1,008
- Financial charges +€701
up €701 (+17.2%), from €4,068 to €4,768
of which Non-recurring financial charges: +€708
- Depreciation -€600
down €600 (-21.1%), from €2,847 to €2,247
- Other operating charges -€356
down €356 (-74.8%), from €476 to €120
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 | €85,732 | €85,741 | +€8 | 0.0% |
| Fixed assets | 21/28 | €10,185 | €7,938 | -€2,247 | -22.1% |
| Tangible fixed assets | 22/27 | €10,185 | €7,938 | -€2,247 | -22.1% |
| Plant, machinery and equipment | 23 | €581 | €345 | -€236 | -40.7% |
| Furniture and vehicles | 24 | €6,041 | €4,990 | -€1,050 | -17.4% |
| Other tangible fixed assets | 26 | €3,562 | €2,602 | -€960 | -27.0% |
| Current assets | 29/58 | €75,548 | €77,803 | +€2,255 | +3.0% |
| Amounts receivable within one year | 40/41 | €75,189 | €77,785 | +€2,596 | +3.5% |
| Trade receivables | 40 | €49,846 | €49,846 | = | 0.0% |
| Other amounts receivable | 41 | €25,343 | €27,940 | +€2,596 | +10.2% |
| Cash at bank and in hand | 54/58 | €359 | €18 | -€341 | -95.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €85,732 | €85,741 | +€8 | 0.0% |
| Equity | 10/15 | €26,812 | €20,685 | -€6,127 | -22.9% |
| Contributions | 10/11 | €47,650 | €47,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,838 | -€26,965 | -€6,127 | -29.4% |
| Amounts payable | 17/49 | €58,920 | €65,055 | +€6,135 | +10.4% |
| Amounts payable within one year | 42/48 | €58,920 | €65,055 | +€6,135 | +10.4% |
| Trade debts | 44 | €788 | €610 | -€178 | -22.6% |
| Suppliers | 440/4 | €788 | €610 | -€178 | -22.6% |
| Advances received on contracts in progress | 46 | €57,532 | €57,532 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €600 | €6,913 | +€6,313 | +1,052% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,847 | €2,247 | -€600 | -21.1% |
| Other operating charges | 640/8 | €476 | €120 | -€356 | -74.8% |
| Gross operating margin | 9900 | €2,879 | €1,008 | -€1,870 | -65.0% |
| Operating profit (loss) | 9901 | -€444 | -€1,358 | -€915 | -206% |
| Financial charges | 65/66B | €4,068 | €4,768 | +€701 | +17.2% |
| Recurring financial charges | 65 | €175 | €168 | -€7 | -4.1% |
| Non-recurring financial charges | 66B | €3,893 | €4,601 | +€708 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,512 | -€6,127 | -€1,615 | -35.8% |
| Profit (loss) for the period | 9904 | -€4,512 | -€6,127 | -€1,615 | -35.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,512 | -€6,127 | -€1,615 | -35.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.