T-BD: 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.
T-BD
Largest movements
- Receivables within one year +€77,717
up €77,717 (+868.9%), from €8,944 to €86,661
of which Other amounts receivable: +€47,348
- Cash -€45,197
down €45,197 (-42.2%), from €107,050 to €61,853
mainly Receivables within one year (-€77,717) and Investment in fixed assets (net) (-€21,324)
- Tangible fixed assets +€10,665
up €10,665 (+335.5%), from €3,178 to €13,843
of which Furniture and vehicles: +€10,329
- Financial fixed assets +€5,000
up €5,000 (+38.5%), from €13,000 to €18,000
- Tax, wage and social debts +€27,967
up €27,967 (+97.3%), from €28,754 to €56,721
of which Remuneration and social security: +€27,008
- Profit (loss) carried forward +€16,199
up €16,199 (+25.4%), from €63,715 to €79,915
- Trade debts +€4,019
up €4,019 (+85.5%), from €4,703 to €8,722
- Staff costs +€107,981
up €107,981 (+1498.8%), from €7,204 to €115,185
- Gross operating margin +€75,806
up €75,806 (+105.4%), from €71,925 to €147,731
- Other operating charges +€3,249
up €3,249 (+75.9%), from €4,278 to €7,527
- Financial income +€2,534
new in 2025: €2,534
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €132,173 | €180,358 | +€48,185 | +36.5% |
| Fixed assets | 21/28 | €16,178 | €31,843 | +€15,665 | +96.8% |
| Tangible fixed assets | 22/27 | €3,178 | €13,843 | +€10,665 | +335.5% |
| Plant, machinery and equipment | 23 | €1,334 | €1,669 | +€336 | +25.2% |
| Furniture and vehicles | 24 | €1,845 | €12,174 | +€10,329 | +559.9% |
| Financial fixed assets | 28 | €13,000 | €18,000 | +€5,000 | +38.5% |
| Current assets | 29/58 | €115,994 | €148,515 | +€32,520 | +28.0% |
| Amounts receivable within one year | 40/41 | €8,944 | €86,661 | +€77,717 | +868.9% |
| Trade receivables | 40 | €719 | €31,089 | +€30,370 | +4223.5% |
| Other amounts receivable | 41 | €8,225 | €55,573 | +€47,348 | +575.6% |
| Cash at bank and in hand | 54/58 | €107,050 | €61,853 | -€45,197 | -42.2% |
| Total equity and liabilities | 10/49 | €132,173 | €180,358 | +€48,185 | +36.5% |
| Equity | 10/15 | €73,715 | €89,915 | +€16,199 | +22.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Outside capital | 11 | €10,000 | €10,000 | = | 0.0% |
| Other | 1109/19 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,715 | €79,915 | +€16,199 | +25.4% |
| Amounts payable | 17/49 | €58,457 | €90,443 | +€31,986 | +54.7% |
| Amounts payable within one year | 42/48 | €58,457 | €90,443 | +€31,986 | +54.7% |
| Trade debts | 44 | €4,703 | €8,722 | +€4,019 | +85.5% |
| Suppliers | 440/4 | €4,703 | €8,722 | +€4,019 | +85.5% |
| Taxes, remuneration and social security | 45 | €28,754 | €56,721 | +€27,967 | +97.3% |
| Taxes | 450/3 | €25,360 | €26,319 | +€959 | +3.8% |
| Remuneration and social security | 454/9 | €3,394 | €30,401 | +€27,008 | +795.8% |
| Other amounts payable | 47/48 | €25,000 | €25,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €7,204 | €115,185 | +€107,981 | +1498.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,068 | €5,659 | -€1,409 | -19.9% |
| Other operating charges | 640/8 | €4,278 | €7,527 | +€3,249 | +75.9% |
| Non-recurring operating charges | 66A | €2,769 | - | -€2,769 | |
| Gross operating margin | 9900 | €71,925 | €147,731 | +€75,806 | +105.4% |
| Operating profit (loss) | 9901 | €50,605 | €19,359 | -€31,245 | -61.7% |
| Financial income | 75/76B | - | €2,534 | +€2,534 | |
| Recurring financial income | 75 | - | €2,534 | +€2,534 | |
| Financial charges | 65/66B | €161 | €212 | +€51 | +31.5% |
| Recurring financial charges | 65 | €161 | €212 | +€51 | +31.5% |
| Profit (loss) for the period before taxes | 9903 | €50,443 | €21,681 | -€28,762 | -57.0% |
| Income taxes | 67/77 | €5,270 | €5,482 | +€212 | +4.0% |
| Profit (loss) for the period | 9904 | €45,173 | €16,199 | -€28,974 | -64.1% |
| Profit (loss) for the period to be appropriated | 9905 | €45,173 | €16,199 | -€28,974 | -64.1% |
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 6 October 2026 via checked.be.