TRAYCO: what changed
Two fiscal 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.
What changed
TRAYCO
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€373,877
2024 · €698,376-€324,499
Equity
€5.3m
2024 · €5.0m+€373,877
Cash
€122,594
2024 · €293,903-€171,309
Balance sheet total
€14.3m
2024 · €11.1m+€3.2m
Largest movements
Assets
- Tangible fixed assets +€2.7m
up €2.7m (+63.0%), from €4.3m to €7.0m
of which Leasing and similar rights: +€2.9m
- Stocks and contracts +€721,019
up €721,019 (+18.5%), from €3.9m to €4.6m
- Deferred charges and accrued income -€186,687
down €186,687 (-67.0%), from €278,647 to €91,961
- Cash -€171,309
down €171,309 (-58.3%), from €293,903 to €122,594
mainly Investment in fixed assets (net) (-€3.8m) and Stocks and contracts (-€721,019)
- Receivables within one year +€155,551
up €155,551 (+7.3%), from €2.1m to €2.3m
of which Trade receivables: +€309,616
Equity and liabilities
- Debts after one year +€1.9m
up €1.9m (+73.1%), from €2.5m to €4.4m
of which Financial debts: +€2.2m
- Short-term financial debts +€436,841
up €436,841 (+47.4%), from €921,734 to €1.4m
- Reserves +€373,877
up €373,877 (+86.4%), from €432,620 to €806,497
of which Tax-exempt reserves: +€210,500
- Current portion of long-term debt +€325,095
up €325,095 (+50.3%), from €645,808 to €970,904
- Tax, wage and social debts +€156,955
up €156,955 (+27.2%), from €576,454 to €733,409
of which Taxes: +€138,767
Income statement
- Turnover +€1.6m
up €1.6m (+11.8%), from €13.9m to €15.5m
- Services and other goods +€1.5m
up €1.5m (+40.9%), from €3.5m to €5.0m
- Goods and materials +€786,939
up €786,939 (+14.9%), from €5.3m to €6.1m
of which Purchases: +€1.1m
- Depreciation +€269,922
up €269,922 (+31.5%), from €857,061 to €1.1m
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.
Result 2024
€698,376
Turnover
+€1.6m
Other operating income
-€15,880
Goods and materials
-€786,939
Services and other goods
-€1.5m
Staff costs
-€4,798
Depreciation
-€269,922
Other operating charges
+€9,061
Other operating items
+€591,675
Financial income
-€7,303
Financial charges
-€88,332
Taxes
+€54,972
Result 2025
€373,877
Cash bridge derived
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.
From operations
+€995,579
Investment
-€3.8m
Financing
+€2.6m
Cash 2024
€293,903
From operations (derived)
+€995,579
Net result for the year
+€373,877
Depreciation
+€1.1m
Stocks and contracts
-€721,019
Receivables within one year
-€155,551
Deferred charges and accrued income
+€186,687
Trade debts
-€81,131
Tax, wage and social debts
+€156,955
Other debts
+€50,000
Accrued charges and deferred income
+€58,780
Investment (derived)
-€3.8m
Investment in fixed assets (net)
-€3.8m
Financing
+€2.6m
Debts after one year
+€1.9m
Current portion of long-term debt
+€325,095
Short-term financial debts
+€436,841
Cash 2025
€122,594
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,082,101 | €14,263,220 | +€3.2m | +28.7% |
| Fixed assets | 21/28 | €4,467,212 | €7,129,755 | +€2.7m | +59.6% |
| Intangible fixed assets | 21 | €194,719 | €164,729 | -€29,990 | -15.4% |
| Tangible fixed assets | 22/27 | €4,272,493 | €6,965,026 | +€2.7m | +63.0% |
| Plant, machinery and equipment | 23 | €2,291,529 | €1,884,786 | -€406,743 | -17.7% |
| Furniture and vehicles | 24 | €640,165 | €800,789 | +€160,624 | +25.1% |
| Leasing and similar rights | 25 | €1,305,497 | €4,164,941 | +€2.9m | +219.0% |
| Other tangible fixed assets | 26 | €11,168 | €9,533 | -€1,635 | -14.6% |
| Assets under construction and advance payments | 27 | €24,133 | €104,977 | +€80,844 | +335.0% |
| Current assets | 29/58 | €6,614,890 | €7,133,465 | +€518,575 | +7.8% |
| Stocks and contracts in progress | 3 | €3,901,617 | €4,622,637 | +€721,019 | +18.5% |
| Stocks | 30/36 | €3,901,617 | €4,622,637 | +€721,019 | +18.5% |
| Raw materials and consumables | 30/31 | €1,428,439 | €1,705,919 | +€277,480 | +19.4% |
| Finished goods | 33 | €2,419,258 | €2,866,780 | +€447,521 | +18.5% |
| Goods purchased for resale | 34 | €53,920 | €49,938 | -€3,982 | -7.4% |
| Amounts receivable within one year | 40/41 | €2,140,722 | €2,296,273 | +€155,551 | +7.3% |
| Trade receivables | 40 | €1,706,849 | €2,016,465 | +€309,616 | +18.1% |
| Other amounts receivable | 41 | €433,873 | €279,808 | -€154,065 | -35.5% |
| Cash at bank and in hand | 54/58 | €293,903 | €122,594 | -€171,309 | -58.3% |
| Deferred charges and accrued income | 490/1 | €278,647 | €91,961 | -€186,687 | -67.0% |
| Total equity and liabilities | 10/49 | €11,082,101 | €14,263,220 | +€3.2m | +28.7% |
| Equity | 10/15 | €4,964,759 | €5,338,636 | +€373,877 | +7.5% |
| Contributions | 10/11 | €4,532,139 | €4,532,139 | = | 0.0% |
| Capital | 10 | €4,532,139 | €4,532,139 | = | 0.0% |
| Issued capital | 100 | €4,532,139 | €4,532,139 | = | 0.0% |
| Reserves | 13 | €432,620 | €806,497 | +€373,877 | +86.4% |
| Non-distributable reserves | 130/1 | €23,393 | €31,893 | +€8,500 | +36.3% |
| Legal reserve | 130 | €23,393 | €31,893 | +€8,500 | +36.3% |
| Tax-exempt reserves | 132 | - | €210,500 | +€210,500 | |
| Distributable reserves | 133 | €409,227 | €564,104 | +€154,877 | +37.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €6,117,342 | €8,924,584 | +€2.8m | +45.9% |
| Amounts payable after more than one year | 17 | €2,544,613 | €4,405,316 | +€1.9m | +73.1% |
| Financial debts | 170/4 | €1,768,276 | €4,013,095 | +€2.2m | +126.9% |
| Leasing and similar obligations | 172 | €955,789 | €3,516,557 | +€2.6m | +267.9% |
| Credit institutions | 173 | €812,488 | €496,537 | -€315,950 | -38.9% |
| Other amounts payable | 178/9 | €776,337 | €392,221 | -€384,116 | -49.5% |
| Amounts payable within one year | 42/48 | €3,401,045 | €4,288,804 | +€887,759 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €645,808 | €970,904 | +€325,095 | +50.3% |
| Financial debts | 43 | €921,734 | €1,358,574 | +€436,841 | +47.4% |
| Credit institutions | 430/8 | €921,734 | €1,358,574 | +€436,841 | +47.4% |
| Trade debts | 44 | €1,257,048 | €1,175,917 | -€81,131 | -6.5% |
| Suppliers | 440/4 | €1,257,048 | €1,175,917 | -€81,131 | -6.5% |
| Taxes, remuneration and social security | 45 | €576,454 | €733,409 | +€156,955 | +27.2% |
| Taxes | 450/3 | €68,727 | €207,494 | +€138,767 | +201.9% |
| Remuneration and social security | 454/9 | €507,727 | €525,915 | +€18,188 | +3.6% |
| Other amounts payable | 47/48 | - | €50,000 | +€50,000 | |
| Accrued charges and deferred income | 492/3 | €171,684 | €230,464 | +€58,780 | +34.2% |
| Operating income | 70/76A | €13,931,201 | €16,018,271 | +€2.1m | +15.0% |
| Turnover | 70 | €13,878,898 | €15,522,453 | +€1.6m | +11.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€23,918 | €447,521 | +€471,439 | |
| Other operating income | 74 | €62,193 | €46,313 | -€15,880 | -25.5% |
| Non-recurring operating income | 76A | €14,028 | €1,983 | -€12,044 | -85.9% |
| Operating charges | 60/66A | €12,761,322 | €15,132,229 | +€2.4m | +18.6% |
| Goods for resale, raw materials and consumables | 60 | €5,275,109 | €6,062,048 | +€786,939 | +14.9% |
| Purchases | 600/8 | €5,263,945 | €6,335,546 | +€1.1m | +20.4% |
| Change in stocks: decrease (increase) | 609 | €11,165 | -€273,498 | -€284,663 | |
| Services and other goods | 61 | €3,548,167 | €4,998,756 | +€1.5m | +40.9% |
| Remuneration, social security and pensions | 62 | €2,793,348 | €2,798,146 | +€4,798 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €857,061 | €1,126,983 | +€269,922 | +31.5% |
| Other operating charges | 640/8 | €15,801 | €6,740 | -€9,061 | -57.3% |
| Non-recurring operating charges | 66A | €271,836 | €139,555 | -€132,281 | -48.7% |
| Operating profit (loss) | 9901 | €1,169,879 | €886,042 | -€283,837 | -24.3% |
| Financial income | 75/76B | €16,723 | €9,421 | -€7,303 | -43.7% |
| Recurring financial income | 75 | €16,723 | €9,421 | -€7,303 | -43.7% |
| Income from current assets | 751 | €4,221 | €3,331 | -€890 | -21.1% |
| Other financial income | 752/9 | €12,502 | €6,089 | -€6,413 | -51.3% |
| Financial charges | 65/66B | €269,116 | €357,447 | +€88,332 | +32.8% |
| Recurring financial charges | 65 | €269,116 | €357,447 | +€88,332 | +32.8% |
| Debt charges | 650 | €176,390 | €279,347 | +€102,957 | +58.4% |
| Other financial charges | 652/9 | €92,726 | €78,100 | -€14,626 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | €917,486 | €538,016 | -€379,471 | -41.4% |
| Income taxes | 67/77 | €219,110 | €164,139 | -€54,972 | -25.1% |
| Taxes | 670/3 | €245,000 | €164,139 | -€80,861 | -33.0% |
| Tax adjustments and reversals of tax provisions | 77 | €25,890 | €0 | -€25,890 | -100.0% |
| Profit (loss) for the period | 9904 | €698,376 | €373,877 | -€324,499 | -46.5% |
| Transfer to tax-exempt reserves | 689 | - | €210,500 | +€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €698,376 | €163,377 | -€534,999 | -76.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.