TRAVO ONE: 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.
TRAVO ONE
Largest movements
- Cash +€209,137
up €209,137 (+113%), from €184,816 to €393,953
mainly Trade debts (+€401,895) and Other debts (+€249,678)
- Deferred charges and accrued income +€57,191
up €57,191 (+1,950%), from €2,933 to €60,124
- Receivables within one year +€42,673
up €42,673 (+11.5%), from €369,905 to €412,578
of which Trade receivables: +€52,245
- Tangible fixed assets +€22,698
up €22,698 (+46.8%), from €48,518 to €71,216
of which Furniture and vehicles: +€17,677
- Stocks and contracts +€21,612
up €21,612 (+68.9%), from €31,385 to €52,997
- Trade debts +€401,895
up €401,895 (+324%), from €124,100 to €525,995
- Other debts +€249,678
up €249,678 (+235%), from €106,082 to €355,761
- Profit (loss) carried forward -€160,435
down €160,435 (-93.2%), from €172,218 to €11,783
- Tax, wage and social debts -€142,548
down €142,548 (-83.3%), from €171,227 to €28,679
of which Taxes: -€137,764
- Current portion of long-term debt +€16,919
up €16,919 (+196%), from €8,650 to €25,569
- Gross operating margin -€353,103
down €353,103, from €237,466 to -€115,637
- Taxes -€51,392
down €51,392 (-98.7%), from €52,064 to €672
- Staff costs -€21,701
down €21,701 (-55.1%), from €39,350 to €17,650
- Depreciation +€19,387
up €19,387 (+426%), from €4,546 to €23,933
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 | €637,846 | €991,157 | +€353,311 | +55.4% |
| Fixed assets | 21/28 | €48,806 | €71,504 | +€22,698 | +46.5% |
| Tangible fixed assets | 22/27 | €48,518 | €71,216 | +€22,698 | +46.8% |
| Plant, machinery and equipment | 23 | €4,230 | €9,251 | +€5,020 | +119% |
| Furniture and vehicles | 24 | €44,288 | €61,965 | +€17,677 | +39.9% |
| Financial fixed assets | 28 | €288 | €288 | = | 0.0% |
| Current assets | 29/58 | €589,040 | €919,653 | +€330,613 | +56.1% |
| Stocks and contracts in progress | 3 | €31,385 | €52,997 | +€21,612 | +68.9% |
| Stocks | 30/36 | €31,385 | €52,997 | +€21,612 | +68.9% |
| Amounts receivable within one year | 40/41 | €369,905 | €412,578 | +€42,673 | +11.5% |
| Trade receivables | 40 | €242,015 | €294,260 | +€52,245 | +21.6% |
| Other amounts receivable | 41 | €127,890 | €118,318 | -€9,572 | -7.5% |
| Cash at bank and in hand | 54/58 | €184,816 | €393,953 | +€209,137 | +113% |
| Deferred charges and accrued income | 490/1 | €2,933 | €60,124 | +€57,191 | +1,950% |
| Total equity and liabilities | 10/49 | €637,846 | €991,157 | +€353,311 | +55.4% |
| Equity | 10/15 | €192,678 | €32,243 | -€160,435 | -83.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €172,218 | €11,783 | -€160,435 | -93.2% |
| Amounts payable | 17/49 | €445,167 | €958,914 | +€513,746 | +115% |
| Amounts payable after more than one year | 17 | €26,219 | €22,910 | -€3,309 | -12.6% |
| Financial debts | 170/4 | €26,219 | €22,910 | -€3,309 | -12.6% |
| Amounts payable within one year | 42/48 | €410,059 | €936,003 | +€525,944 | +128% |
| Current portion of amounts payable after more than one year | 42 | €8,650 | €25,569 | +€16,919 | +196% |
| Trade debts | 44 | €124,100 | €525,995 | +€401,895 | +324% |
| Suppliers | 440/4 | €124,100 | €525,995 | +€401,895 | +324% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €171,227 | €28,679 | -€142,548 | -83.3% |
| Taxes | 450/3 | €166,442 | €28,679 | -€137,764 | -82.8% |
| Remuneration and social security | 454/9 | €4,784 | €0 | -€4,784 | -100% |
| Other amounts payable | 47/48 | €106,082 | €355,761 | +€249,678 | +235% |
| Accrued charges and deferred income | 492/3 | €8,890 | €0 | -€8,890 | -100% |
| Non-recurring operating income | 76A | €2,026 | €16,964 | +€14,938 | +737% |
| Remuneration, social security and pensions | 62 | €39,350 | €17,650 | -€21,701 | -55.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,546 | €23,933 | +€19,387 | +426% |
| Other operating charges | 640/8 | €1,176 | €3,149 | +€1,972 | +168% |
| Gross operating margin | 9900 | €237,466 | -€115,637 | -€353,103 | |
| Operating profit (loss) | 9901 | €192,393 | -€160,368 | -€352,761 | |
| Financial income | 75/76B | €1,810 | €2,947 | +€1,136 | +62.8% |
| Recurring financial income | 75 | €1,810 | €2,947 | +€1,136 | +62.8% |
| Financial charges | 65/66B | €517 | €2,342 | +€1,825 | +353% |
| Recurring financial charges | 65 | €517 | €2,342 | +€1,825 | +353% |
| Profit (loss) for the period before taxes | 9903 | €193,687 | -€159,763 | -€353,450 | |
| Income taxes | 67/77 | €52,064 | €672 | -€51,392 | -98.7% |
| Profit (loss) for the period | 9904 | €141,623 | -€160,435 | -€302,058 | |
| Profit (loss) for the period to be appropriated | 9905 | €141,623 | -€160,435 | -€302,058 |
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 21 October 2026 via checked.be.