TRAVELWINKS: what changed
TRAVELWINKS
Largest movements
- Receivables within one year -€75,820
down €75,820 (-35.9%), from €211,435 to €135,615
of which Trade receivables: -€75,909
- Deferred charges and accrued income -€23,956
down €23,956 (-17.3%), from €138,357 to €114,401
- Cash -€15,216
down €15,216 (-7.9%), from €191,702 to €176,487
mainly Accrued charges and deferred income (-€141,526) and Contributions, distributions and other (-€25,000)
- Accrued charges and deferred income -€141,526
down €141,526 (-37.9%), from €373,853 to €232,327
- Reserves +€17,599
up €17,599 (+23.7%), from €74,322 to €91,921
- Trade debts +€8,546
up €8,546 (+12.9%), from €66,412 to €74,958
- Staff costs -€52,802
down €52,802, from €52,764 to -€38
- Taxes +€12,370
new in 2025: €12,370
- Financial charges +€7,278
up €7,278 (+223%), from €3,265 to €10,543
- Gross operating margin +€6,306
up €6,306 (+10.8%), from €58,536 to €64,841
- Financial income -€1,494
down €1,494 (-69.5%), from €2,149 to €654
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €541,594 | €426,603 | -€114,992 | -21.2% |
| Fixed assets | 21/28 | €100 | €100 | = | 0.0% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €541,494 | €426,503 | -€114,992 | -21.2% |
| Amounts receivable within one year | 40/41 | €211,435 | €135,615 | -€75,820 | -35.9% |
| Trade receivables | 40 | €210,999 | €135,090 | -€75,909 | -36.0% |
| Other amounts receivable | 41 | €435 | €525 | +€90 | +20.6% |
| Cash at bank and in hand | 54/58 | €191,702 | €176,487 | -€15,216 | -7.9% |
| Deferred charges and accrued income | 490/1 | €138,357 | €114,401 | -€23,956 | -17.3% |
| Total equity and liabilities | 10/49 | €541,594 | €426,603 | -€114,992 | -21.2% |
| Equity | 10/15 | €99,322 | €116,921 | +€17,599 | +17.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €74,322 | €91,921 | +€17,599 | +23.7% |
| Distributable reserves | 133 | €74,322 | €91,921 | +€17,599 | +23.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €442,272 | €309,681 | -€132,591 | -30.0% |
| Amounts payable within one year | 42/48 | €68,419 | €77,354 | +€8,935 | +13.1% |
| Trade debts | 44 | €66,412 | €74,958 | +€8,546 | +12.9% |
| Suppliers | 440/4 | €66,412 | €74,958 | +€8,546 | +12.9% |
| Taxes, remuneration and social security | 45 | €7 | €396 | +€389 | +5,452% |
| Taxes | 450/3 | €7 | €396 | +€389 | +5,452% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,000 | €2,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €373,853 | €232,327 | -€141,526 | -37.9% |
| Remuneration, social security and pensions | 62 | €52,764 | -€38 | -€52,802 | |
| Other operating charges | 640/8 | €604 | €21 | -€582 | -96.4% |
| Gross operating margin | 9900 | €58,536 | €64,841 | +€6,306 | +10.8% |
| Operating profit (loss) | 9901 | €5,168 | €64,858 | +€59,690 | +1,155% |
| Financial income | 75/76B | €2,149 | €654 | -€1,494 | -69.5% |
| Recurring financial income | 75 | €2,149 | €654 | -€1,494 | -69.5% |
| Financial charges | 65/66B | €3,265 | €10,543 | +€7,278 | +223% |
| Recurring financial charges | 65 | €3,265 | €10,543 | +€7,278 | +223% |
| Profit (loss) for the period before taxes | 9903 | €4,052 | €54,969 | +€50,918 | +1,257% |
| Income taxes | 67/77 | - | €12,370 | +€12,370 | |
| Profit (loss) for the period | 9904 | €4,052 | €42,599 | +€38,547 | +951% |
| Profit (loss) for the period to be appropriated | 9905 | €4,052 | €42,599 | +€38,547 | +951% |
Next steps
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.