TCD
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 29-07-2026 at the NBB all 6 filings
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€33,874▲ 165%
2024 · €12,800
Working capital
-€55,082▼ 170%
2024 · -€20,418
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
-€1,863
▲ 13.9%
2025
20202025
Net result
€33,874
▲ 165%
2025
20202025
Equity
€169,918
▲ 24.9%
2025
20202025
Total assets
€225,535
▼ 0.2%
2025
20202025
Debt
€55,617
▼ 38.1%
2025
20202025
Working capital
-€55,082
▼ 170%
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€1,289--€1,781▼ 38.2%-€2,017▼ 13.2%-€2,118▼ 5.0%-€2,165▼ 2.2%-€1,863▲ 13.9%
Net result-€4,660-€8,498€12,584▲ 48.1%€56,822▲ 352%€12,800▼ 77.5%€33,874▲ 165%
Equity€45,340-€53,837▲ 18.7%€66,421▲ 23.4%€123,243▲ 85.5%€136,044▲ 10.4%€169,918▲ 24.9%
Total assets€229,257-€228,263▼ 0.4%€227,988▼ 0.1%€227,573▼ 0.2%€225,946▼ 0.7%€225,535▼ 0.2%
Debt€183,917-€174,426▼ 5.2%€161,566▼ 7.4%€104,330▼ 35.4%€89,902▼ 13.8%€55,617▼ 38.1%
Working capital-€54,168--€59,015▼ 8.9%-€60,153▼ 1.9%-€17,440▲ 71.0%-€20,418▼ 17.1%-€55,082▼ 170%
The operating result for 2025 is a loss of €1,863, smaller than the loss of €2,165 in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €225,535
Fixed assets
€225,000 =
Current assets
€535 ▼ 31.8%
Equity and liabilities €225,535
Equity
€169,918 ▲ 24.9%
Debt
€55,617 ▼ 38.1%
Debt's share of the balance-sheet total falls from 39.8% to 24.7%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
-€1,701▼
2024 · -€1,650
Cash flow
€34,035▲
2024 · €13,315
Current ratio
0.01▼
2024 · 0.04
Debt to equity
0.33▼
2024 · 0.66
ROE
19.9%▲
2024 · 9.4%
ROA
15.0%▲
2024 · 5.7%
Interest coverage
-0.52▲
2024 · -0.54
Debt ≤ 1 year
€55,617▲
2024 · €21,202
Debt > 1 year
€0▼
2024 · €68,700
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €353 | €515 | €515 | €515 | €515 | €161 | ▼ 68.6% |
| Other operating charges640/8 | - | €348 | €348 | €384 | €387 | €400 | ▲ 3.2% |
| Gross operating margin9900 | -€588 | -€919 | -€1,155 | -€1,219 | -€1,262 | -€1,302 | ▼ 3.1% |
| Operating profit (loss)9901 | -€1,289 | -€1,781 | -€2,017 | -€2,118 | -€2,165 | -€1,863 | ▲ 13.9% |
| Financial income75/76B | - | €14,000 | €18,000 | €62,000 | €18,000 | €39,000 | ▲ 117% |
| Recurring financial income75 | - | €14,000 | €18,000 | €62,000 | €18,000 | €39,000 | ▲ 117% |
| Financial charges65/66B | - | €3,721 | €3,399 | €3,059 | €3,035 | €3,263 | ▲ 7.5% |
| Recurring financial charges65 | €3,371 | €3,721 | €3,399 | €3,059 | €3,035 | €3,263 | ▲ 7.5% |
| Profit (loss) for the period before taxes9903 | -€4,660 | €8,498 | €12,584 | €56,822 | €12,800 | €33,874 | ▲ 165% |
| Profit (loss) for the period9904 | -€4,660 | €8,498 | €12,584 | €56,822 | €12,800 | €33,874 | ▲ 165% |
| Profit (loss) for the period to be appropriated9905 | -€4,660 | €8,498 | €12,584 | €56,822 | €12,800 | €33,874 | ▲ 165% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €229,257 | €228,263 | €227,988 | €227,573 | €225,946 | €225,535 | ▼ 0.2% |
| Formation expenses20 | €2,220 | €1,706 | €1,191 | €676 | €161 | €0 | ▼ 100% |
| Fixed assets21/28 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Financial fixed assets28 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | €225,000 | = |
| Current assets29/58 | €2,036 | €1,557 | €1,797 | €1,897 | €785 | €535 | ▼ 31.8% |
| Cash at bank and in hand54/58 | €2,036 | €1,557 | €1,797 | €1,897 | €785 | €535 | ▼ 31.8% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €229,257 | €228,263 | €227,988 | €227,573 | €225,946 | €225,535 | ▼ 0.2% |
| Equity10/15 | €45,340 | €53,837 | €66,421 | €123,243 | €136,044 | €169,918 | ▲ 24.9% |
| Contributions10/11 | - | €50,000 | €50,000 | €50,000 | €50,000 | €50,000 | = |
| Profit (loss) carried forward14 | -€4,660 | €3,837 | €16,421 | €73,243 | €86,044 | €119,918 | ▲ 39.4% |
| Amounts payable17/49 | €183,917 | €174,426 | €161,566 | €104,330 | €89,902 | €55,617 | ▼ 38.1% |
| Amounts payable after more than one year17 | €127,713 | €113,854 | €99,617 | €84,993 | €68,700 | €0 | ▼ 100% |
| Financial debts170/4 | - | €113,854 | €99,617 | €84,993 | €68,700 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €56,204 | €60,572 | €61,949 | €19,337 | €21,202 | €55,617 | ▲ 162% |
| Current portion of amounts payable after more than one year42 | - | €13,859 | €14,237 | €14,624 | €16,293 | €49,509 | ▲ 204% |
| Financial debts43 | - | - | - | - | €197 | €121 | ▼ 38.8% |
| Credit institutions430/8 | - | - | - | - | €197 | €121 | ▼ 38.8% |
| Other amounts payable47/48 | - | €46,713 | €47,713 | €4,713 | €4,713 | €5,988 | ▲ 27.1% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€4,660 | €8,498 | €12,584 | €56,822 | €12,800 | €33,874 | ▲ 165% |
| + Depreciation and write-downs630 | €353 | €515 | €515 | €515 | €515 | €161 | ▼ 68.6% |
| Operating cash flow (approximation) | -€4,307 | €9,012 | €13,099 | €57,337 | €13,315 | €34,035 | ▲ 156% |
| Investment in fixed assets (approximation) | - | -€515 | -€515 | -€515 | -€515 | -€161 | ▲ 68.6% |
| Change in cash | - | -€479 | €239 | €100 | -€1,112 | -€250 | ▲ 77.5% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 29-07-2026 | 2026-00369491 | |
| 31-12-2024 | full format | 29-07-2025 | 2025-00357269 | |
| 31-12-2023 | full format | 22-07-2024 | 2024-00284639 | |
| 31-12-2022 | micro format | 20-07-2023 | 2023-00268329 | |
| 31-12-2021 | micro format | 28-06-2022 | 2022-20137655 | |
| 31-12-2020 | micro format | 28-06-2021 | 2021-29100036 |