T.B.W. - EXPRESS: 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.W. - EXPRESS
Largest movements
- Tangible fixed assets -€25,851
down €25,851 (-62.0%), from €41,702 to €15,851
of which Furniture and vehicles: -€24,885
- Receivables within one year +€22,743
up €22,743 (+5.8%), from €389,601 to €412,344
of which Trade receivables: +€24,475
- Cash -€7,091
down €7,091 (-21.5%), from €32,931 to €25,841
mainly Net result for the year (-€148,253) and Receivables within one year (-€22,743)
- Profit (loss) carried forward -€148,253
down €148,253 (-32.5%), from -€455,993 to -€604,246
- Other debts +€129,000
up €129,000 (+16.0%), from €808,133 to €937,133
- Tax, wage and social debts +€39,679
up €39,679 (+94.3%), from €42,060 to €81,739
of which Taxes: +€36,044
- Current portion of long-term debt -€13,392
down €13,392 (-67.7%), from €19,792 to €6,401
- Trade debts -€11,623
down €11,623 (-23.3%), from €49,914 to €38,291
- Gross operating margin +€46,608
up €46,608 (+18.4%), from €253,029 to €299,637
- Staff costs +€21,893
up €21,893 (+5.7%), from €384,609 to €406,502
- Depreciation -€6,971
down €6,971 (-20.3%), from €34,261 to €27,291
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 | €490,757 | €479,768 | -€10,989 | -2.2% |
| Fixed assets | 21/28 | €46,017 | €20,166 | -€25,851 | -56.2% |
| Tangible fixed assets | 22/27 | €41,702 | €15,851 | -€25,851 | -62.0% |
| Land and buildings | 22 | €1,181 | €215 | -€966 | -81.8% |
| Furniture and vehicles | 24 | €40,521 | €15,636 | -€24,885 | -61.4% |
| Financial fixed assets | 28 | €4,315 | €4,315 | = | 0.0% |
| Current assets | 29/58 | €444,740 | €459,602 | +€14,862 | +3.3% |
| Amounts receivable within one year | 40/41 | €389,601 | €412,344 | +€22,743 | +5.8% |
| Trade receivables | 40 | €202,342 | €226,816 | +€24,475 | +12.1% |
| Other amounts receivable | 41 | €187,259 | €185,527 | -€1,732 | -0.9% |
| Cash at bank and in hand | 54/58 | €32,931 | €25,841 | -€7,091 | -21.5% |
| Deferred charges and accrued income | 490/1 | €22,208 | €21,418 | -€790 | -3.6% |
| Total equity and liabilities | 10/49 | €490,757 | €479,768 | -€10,989 | -2.2% |
| Equity | 10/15 | -€435,542 | -€583,795 | -€148,253 | -34.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€455,993 | -€604,246 | -€148,253 | -32.5% |
| Amounts payable | 17/49 | €926,299 | €1,063,563 | +€137,264 | +14.8% |
| Amounts payable after more than one year | 17 | €6,401 | - | -€6,401 | |
| Financial debts | 170/4 | €6,401 | - | -€6,401 | |
| Amounts payable within one year | 42/48 | €919,898 | €1,063,563 | +€143,665 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €19,792 | €6,401 | -€13,392 | -67.7% |
| Trade debts | 44 | €49,914 | €38,291 | -€11,623 | -23.3% |
| Suppliers | 440/4 | €49,914 | €38,291 | -€11,623 | -23.3% |
| Taxes, remuneration and social security | 45 | €42,060 | €81,739 | +€39,679 | +94.3% |
| Taxes | 450/3 | €13,317 | €49,361 | +€36,044 | +271% |
| Remuneration and social security | 454/9 | €28,743 | €32,378 | +€3,635 | +12.6% |
| Other amounts payable | 47/48 | €808,133 | €937,133 | +€129,000 | +16.0% |
| Non-recurring operating income | 76A | €165 | - | -€165 | |
| Remuneration, social security and pensions | 62 | €384,609 | €406,502 | +€21,893 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,261 | €27,291 | -€6,971 | -20.3% |
| Other operating charges | 640/8 | €9,824 | €7,788 | -€2,036 | -20.7% |
| Gross operating margin | 9900 | €253,029 | €299,637 | +€46,608 | +18.4% |
| Operating profit (loss) | 9901 | -€175,665 | -€141,943 | +€33,722 | +19.2% |
| Financial income | 75/76B | €509 | €174 | -€335 | -65.8% |
| Recurring financial income | 75 | €509 | €174 | -€335 | -65.8% |
| Financial charges | 65/66B | €7,275 | €6,483 | -€793 | -10.9% |
| Recurring financial charges | 65 | €7,275 | €6,483 | -€793 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | -€182,431 | -€148,252 | +€34,179 | +18.7% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€182,431 | -€148,253 | +€34,178 | +18.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€182,431 | -€148,253 | +€34,178 | +18.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.