T.C.L.: 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.
What changed
T.C.L.
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€61,240
2024 · -€22,200-€39,040
Equity
€5.6m
2024 · €5.7m-€61,240
Cash
€48,159
2024 · -+€48,159
Balance sheet total
€8.7m
2024 · €7.7m+€992,077
Largest movements
Assets
- Tangible fixed assets +€579,794
up €579,794 (+7.6%), from €7.6m to €8.2m
of which Land and buildings: +€587,597
- Stocks and contracts +€293,851
new in 2025: €293,851
Equity and liabilities
- Other debts +€834,852
up €834,852 (+117%), from €712,537 to €1.5m
- Short-term financial debts +€352,055
new in 2025: €352,055
- Debts after one year -€195,043
down €195,043 (-44.6%), from €437,487 to €242,444
Income statement
- Depreciation +€53,071
up €53,071 (+25.2%), from €210,605 to €263,677
- Gross operating margin +€8,661
up €8,661 (+4.5%), from €193,968 to €202,630
- Taxes -€3,631
down €3,631 (-56.4%), from €6,435 to €2,804
- Financial charges -€2,923
down €2,923 (-18.3%), from €15,939 to €13,016
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.
Result 2024
-€22,200
Gross operating margin
+€8,661
Depreciation
-€53,071
Other operating charges
-€2,012
Financial income
+€83
Financial charges
+€2,923
Taxes
+€3,631
Deferred taxes and other
+€746
Result 2025
-€61,240
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€734,274
Investment
-€843,471
Financing
+€157,356
Cash 2024
€0
From operations (derived)
+€734,274
Net result for the year
-€61,240
Depreciation
+€263,677
Stocks and contracts
-€293,851
Receivables within one year
-€36,613
Deferred charges and accrued income
-€33,660
Provisions
-€29,050
Trade debts
+€78,946
Tax, wage and social debts
+€12,725
Other debts
+€834,852
Accrued charges and deferred income
-€1,512
Investment (derived)
-€843,471
Investment in fixed assets (net)
-€843,471
Financing
+€157,356
Debts after one year
-€195,043
Current portion of long-term debt
+€343
Short-term financial debts
+€352,055
Cash 2025
€48,159
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,721,706 | €8,713,784 | +€992,077 | +12.8% |
| Fixed assets | 21/28 | €7,632,533 | €8,212,327 | +€579,794 | +7.6% |
| Tangible fixed assets | 22/27 | €7,631,683 | €8,211,477 | +€579,794 | +7.6% |
| Land and buildings | 22 | €6,490,943 | €7,078,540 | +€587,597 | +9.1% |
| Plant, machinery and equipment | 23 | €1,093,774 | €1,099,448 | +€5,674 | +0.5% |
| Furniture and vehicles | 24 | €46,965 | €33,489 | -€13,477 | -28.7% |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €89,173 | €501,456 | +€412,283 | +462% |
| Stocks and contracts in progress | 3 | - | €293,851 | +€293,851 | |
| Stocks | 30/36 | - | €293,851 | +€293,851 | |
| Amounts receivable within one year | 40/41 | €78,955 | €115,568 | +€36,613 | +46.4% |
| Trade receivables | 40 | €48,404 | €76,696 | +€28,291 | +58.4% |
| Other amounts receivable | 41 | €30,551 | €38,872 | +€8,321 | +27.2% |
| Cash at bank and in hand | 54/58 | - | €48,159 | +€48,159 | |
| Deferred charges and accrued income | 490/1 | €10,218 | €43,879 | +€33,660 | +329% |
| Total equity and liabilities | 10/49 | €7,721,706 | €8,713,784 | +€992,077 | +12.8% |
| Equity | 10/15 | €5,691,939 | €5,630,699 | -€61,240 | -1.1% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €5,135,311 | €5,073,962 | -€61,349 | -1.2% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,953,811 | €1,866,662 | -€87,149 | -4.5% |
| Distributable reserves | 133 | €3,151,500 | €3,177,300 | +€25,800 | +0.8% |
| Profit (loss) carried forward | 14 | €256,629 | €256,737 | +€109 | 0.0% |
| Provisions and deferred taxes | 16 | €651,270 | €622,221 | -€29,050 | -4.5% |
| Deferred taxes | 168 | €651,270 | €622,221 | -€29,050 | -4.5% |
| Amounts payable | 17/49 | €1,378,497 | €2,460,864 | +€1.1m | +78.5% |
| Amounts payable after more than one year | 17 | €437,487 | €242,444 | -€195,043 | -44.6% |
| Financial debts | 170/4 | €437,487 | €242,444 | -€195,043 | -44.6% |
| Amounts payable within one year | 42/48 | €922,590 | €2,201,511 | +€1.3m | +139% |
| Current portion of amounts payable after more than one year | 42 | €194,699 | €195,043 | +€343 | +0.2% |
| Financial debts | 43 | - | €352,055 | +€352,055 | |
| Credit institutions | 430/8 | - | €352,055 | +€352,055 | |
| Trade debts | 44 | €4,002 | €82,947 | +€78,946 | +1,973% |
| Suppliers | 440/4 | €4,002 | €82,947 | +€78,946 | +1,973% |
| Taxes, remuneration and social security | 45 | €11,352 | €24,077 | +€12,725 | +112% |
| Taxes | 450/3 | €11,352 | €24,077 | +€12,725 | +112% |
| Other amounts payable | 47/48 | €712,537 | €1,547,389 | +€834,852 | +117% |
| Accrued charges and deferred income | 492/3 | €18,421 | €16,909 | -€1,512 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,605 | €263,677 | +€53,071 | +25.2% |
| Other operating charges | 640/8 | €12,551 | €14,563 | +€2,012 | +16.0% |
| Gross operating margin | 9900 | €193,968 | €202,630 | +€8,661 | +4.5% |
| Operating profit (loss) | 9901 | -€29,188 | -€75,610 | -€46,422 | -159% |
| Financial income | 75/76B | €1,058 | €1,140 | +€83 | +7.8% |
| Recurring financial income | 75 | €1,058 | €1,140 | +€83 | +7.8% |
| Financial charges | 65/66B | €15,939 | €13,016 | -€2,923 | -18.3% |
| Recurring financial charges | 65 | €15,939 | €13,016 | -€2,923 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | -€44,069 | -€87,485 | -€43,416 | -98.5% |
| Transfer from deferred taxes | 780 | €28,304 | €29,050 | +€746 | +2.6% |
| Income taxes | 67/77 | €6,435 | €2,804 | -€3,631 | -56.4% |
| Profit (loss) for the period | 9904 | -€22,200 | -€61,240 | -€39,040 | -176% |
| Transfer from tax-exempt reserves | 789 | €84,911 | €87,149 | +€2,238 | +2.6% |
| Profit (loss) for the period to be appropriated | 9905 | €62,711 | €25,909 | -€36,802 | -58.7% |
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 14 October 2026 via checked.be.