We Travel Max: 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.
We Travel Max
Largest movements
- Cash +€40,846
up €40,846 (+85.0%), from €48,078 to €88,925
mainly Net result for the year (+€46,763) and Tax, wage and social debts (+€23,626)
- Receivables within one year +€27,720
up €27,720 (+448%), from €6,188 to €33,909
of which Trade receivables: +€27,734
- Deferred charges and accrued income -€16,623
down €16,623 (-91.1%), from €18,238 to €1,615
- Tangible fixed assets +€4,571
up €4,571 (+66.9%), from €6,833 to €11,404
of which Land and buildings: +€3,886
- Reserves +€46,763
up €46,763 (+134%), from €35,020 to €81,784
- Tax, wage and social debts +€23,626
up €23,626 (+219%), from €10,794 to €34,420
- Advances received -€21,830
down €21,830 (-100%), from €21,830 to €0
- Other debts +€5,506
up €5,506 (+4,638%), from €119 to €5,624
- Trade debts +€1,738
up €1,738 (+19.1%), from €9,075 to €10,813
- Gross operating margin +€56,589
up €56,589 (+454%), from €12,461 to €69,050
- Taxes +€11,553
up €11,553 (+246%), from €4,693 to €16,246
- Financial charges +€1,176
up €1,176 (+284%), from €415 to €1,590
- Depreciation +€895
up €895 (+34.8%), from €2,576 to €3,471
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 | €80,838 | €136,752 | +€55,914 | +69.2% |
| Fixed assets | 21/28 | €8,333 | €12,304 | +€3,971 | +47.6% |
| Intangible fixed assets | 21 | €1,500 | €900 | -€600 | -40.0% |
| Tangible fixed assets | 22/27 | €6,833 | €11,404 | +€4,571 | +66.9% |
| Land and buildings | 22 | - | €3,886 | +€3,886 | |
| Plant, machinery and equipment | 23 | €5,218 | €5,189 | -€29 | -0.6% |
| Furniture and vehicles | 24 | €1,616 | €2,328 | +€713 | +44.1% |
| Current assets | 29/58 | €72,505 | €124,448 | +€51,943 | +71.6% |
| Amounts receivable within one year | 40/41 | €6,188 | €33,909 | +€27,720 | +448% |
| Trade receivables | 40 | €868 | €28,602 | +€27,734 | +3,196% |
| Other amounts receivable | 41 | €5,321 | €5,307 | -€14 | -0.3% |
| Cash at bank and in hand | 54/58 | €48,078 | €88,925 | +€40,846 | +85.0% |
| Deferred charges and accrued income | 490/1 | €18,238 | €1,615 | -€16,623 | -91.1% |
| Total equity and liabilities | 10/49 | €80,838 | €136,752 | +€55,914 | +69.2% |
| Equity | 10/15 | €39,020 | €85,784 | +€46,763 | +120% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €35,020 | €81,784 | +€46,763 | +134% |
| Distributable reserves | 133 | €35,020 | €81,784 | +€46,763 | +134% |
| Amounts payable | 17/49 | €41,818 | €50,968 | +€9,151 | +21.9% |
| Amounts payable within one year | 42/48 | €41,818 | €50,968 | +€9,151 | +21.9% |
| Financial debts | 43 | - | €111 | +€111 | |
| Credit institutions | 430/8 | - | €111 | +€111 | |
| Trade debts | 44 | €9,075 | €10,813 | +€1,738 | +19.1% |
| Suppliers | 440/4 | €9,075 | €10,813 | +€1,738 | +19.1% |
| Advances received on contracts in progress | 46 | €21,830 | €0 | -€21,830 | -100% |
| Taxes, remuneration and social security | 45 | €10,794 | €34,420 | +€23,626 | +219% |
| Taxes | 450/3 | €10,794 | €34,420 | +€23,626 | +219% |
| Other amounts payable | 47/48 | €119 | €5,624 | +€5,506 | +4,638% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,576 | €3,471 | +€895 | +34.8% |
| Other operating charges | 640/8 | €576 | €979 | +€402 | +69.8% |
| Gross operating margin | 9900 | €12,461 | €69,050 | +€56,589 | +454% |
| Operating profit (loss) | 9901 | €9,309 | €64,600 | +€55,291 | +594% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €415 | €1,590 | +€1,176 | +284% |
| Recurring financial charges | 65 | €415 | €1,590 | +€1,176 | +284% |
| Profit (loss) for the period before taxes | 9903 | €8,897 | €63,010 | +€54,112 | +608% |
| Income taxes | 67/77 | €4,693 | €16,246 | +€11,553 | +246% |
| Profit (loss) for the period | 9904 | €4,204 | €46,763 | +€42,559 | +1,012% |
| Profit (loss) for the period to be appropriated | 9905 | €4,204 | €46,763 | +€42,559 | +1,012% |
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 30 October 2026 via checked.be.