T & B Development: 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.
T & B Development
Largest movements
- Stocks and contracts -€349,887
down €349,887 (-18.3%), from €1.9m to €1.6m
- Tangible fixed assets +€216,738
up €216,738 (+40.0%), from €541,535 to €758,273
of which Land and buildings: +€215,625
- Cash -€117,130
down €117,130 (-98.9%), from €118,395 to €1,264
mainly Investment in fixed assets (net) (-€241,249) and Other debts (-€205,300)
- Receivables within one year -€72,845
down €72,845 (-11.1%), from €657,209 to €584,365
of which Other amounts receivable: -€73,040
- Other debts -€205,300
down €205,300 (-74.5%), from €275,404 to €70,104
- Short-term financial debts -€150,000
down €150,000 (-60.0%), from €250,000 to €100,000
- Debts after one year +€60,446
up €60,446 (+3.6%), from €1.7m to €1.8m
of which Other amounts payable: +€290,000
- Gross operating margin -€82,142
down €82,142 (-58.5%), from €140,414 to €58,272
- Financial charges -€81,804
down €81,804 (-63.7%), from €128,393 to €46,589
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 | €3,239,717 | €2,907,907 | -€331,810 | -10.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €541,535 | €758,273 | +€216,738 | +40.0% |
| Tangible fixed assets | 22/27 | €541,535 | €758,273 | +€216,738 | +40.0% |
| Land and buildings | 22 | €541,535 | €757,160 | +€215,625 | +39.8% |
| Plant, machinery and equipment | 23 | €0 | €1,113 | +€1,113 | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €2,698,182 | €2,149,634 | -€548,548 | -20.3% |
| Stocks and contracts in progress | 3 | €1,912,216 | €1,562,329 | -€349,887 | -18.3% |
| Stocks | 30/36 | €1,912,216 | €1,562,329 | -€349,887 | -18.3% |
| Amounts receivable within one year | 40/41 | €657,209 | €584,365 | -€72,845 | -11.1% |
| Trade receivables | 40 | €15,246 | €15,441 | +€195 | +1.3% |
| Other amounts receivable | 41 | €641,963 | €568,923 | -€73,040 | -11.4% |
| Cash at bank and in hand | 54/58 | €118,395 | €1,264 | -€117,130 | -98.9% |
| Deferred charges and accrued income | 490/1 | €10,362 | €1,676 | -€8,686 | -83.8% |
| Total equity and liabilities | 10/49 | €3,239,717 | €2,907,907 | -€331,810 | -10.2% |
| Equity | 10/15 | €965,736 | €947,846 | -€17,889 | -1.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €947,144 | €929,254 | -€17,889 | -1.9% |
| Distributable reserves | 133 | €947,144 | €929,254 | -€17,889 | -1.9% |
| Amounts payable | 17/49 | €2,273,981 | €1,960,061 | -€313,920 | -13.8% |
| Amounts payable after more than one year | 17 | €1,694,844 | €1,755,290 | +€60,446 | +3.6% |
| Financial debts | 170/4 | €649,844 | €420,290 | -€229,554 | -35.3% |
| Other amounts payable | 178/9 | €1,045,000 | €1,335,000 | +€290,000 | +27.8% |
| Amounts payable within one year | 42/48 | €579,137 | €204,771 | -€374,366 | -64.6% |
| Current portion of amounts payable after more than one year | 42 | €29,194 | €27,924 | -€1,270 | -4.4% |
| Financial debts | 43 | €250,000 | €100,000 | -€150,000 | -60.0% |
| Credit institutions | 430/8 | €250,000 | €100,000 | -€150,000 | -60.0% |
| Trade debts | 44 | €1,096 | €3,859 | +€2,763 | +252% |
| Suppliers | 440/4 | €1,096 | €3,859 | +€2,763 | +252% |
| Taxes, remuneration and social security | 45 | €23,443 | €2,884 | -€20,560 | -87.7% |
| Taxes | 450/3 | €15,223 | €2,423 | -€12,800 | -84.1% |
| Remuneration and social security | 454/9 | €8,220 | €460 | -€7,760 | -94.4% |
| Other amounts payable | 47/48 | €275,404 | €70,104 | -€205,300 | -74.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,300 | €24,510 | +€210 | +0.9% |
| Other operating charges | 640/8 | €4,583 | €5,062 | +€479 | +10.4% |
| Gross operating margin | 9900 | €140,414 | €58,272 | -€82,142 | -58.5% |
| Operating profit (loss) | 9901 | €111,531 | €28,700 | -€82,831 | -74.3% |
| Financial charges | 65/66B | €128,393 | €46,589 | -€81,804 | -63.7% |
| Recurring financial charges | 65 | €128,393 | €46,589 | -€81,804 | -63.7% |
| Profit (loss) for the period before taxes | 9903 | -€16,862 | -€17,889 | -€1,027 | -6.1% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€16,862 | -€17,889 | -€1,027 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,862 | -€17,889 | -€1,027 | -6.1% |
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 31 October 2026 via checked.be.