T-Capital: 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-Capital
Largest movements
- Receivables within one year +€19,060
up €19,060 (+56.7%), from €33,597 to €52,657
of which Other amounts receivable: +€15,560
- Tangible fixed assets +€13,912
up €13,912 (+23.4%), from €59,329 to €73,241
of which Furniture and vehicles: +€15,751
- Cash +€5,982
up €5,982 (+349%), from €1,715 to €7,697
mainly Net result for the year (+€23,417) and Tax, wage and social debts (+€9,826)
- Reserves +€23,411
up €23,411 (+47.2%), from €49,637 to €73,048
- Tax, wage and social debts +€9,826
up €9,826 (+109%), from €9,047 to €18,874
- Current portion of long-term debt +€4,800
up €4,800 (+57.7%), from €8,323 to €13,122
- Debts after one year +€2,701
up €2,701 (+11.4%), from €23,646 to €26,347
- Trade debts -€1,470
down €1,470 (-82.7%), from €1,778 to €308
- Gross operating margin +€31,380
up €31,380 (+191%), from €16,413 to €47,793
- Taxes +€8,599
up €8,599 (+167%), from €5,155 to €13,754
- Depreciation +€4,335
up €4,335 (+170%), from €2,543 to €6,878
- Financial income -€1,284
down €1,284 (-34.6%), from €3,707 to €2,423
- Financial charges -€484
down €484 (-9.1%), from €5,323 to €4,839
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 | €95,952 | €134,126 | +€38,174 | +39.8% |
| Fixed assets | 21/28 | €59,599 | €73,511 | +€13,912 | +23.3% |
| Tangible fixed assets | 22/27 | €59,329 | €73,241 | +€13,912 | +23.4% |
| Land and buildings | 22 | €58,406 | €56,568 | -€1,838 | -3.1% |
| Furniture and vehicles | 24 | €922 | €16,673 | +€15,751 | +1,708% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €36,354 | €60,616 | +€24,262 | +66.7% |
| Amounts receivable within one year | 40/41 | €33,597 | €52,657 | +€19,060 | +56.7% |
| Trade receivables | 40 | €0 | €3,500 | +€3,500 | |
| Other amounts receivable | 41 | €33,597 | €49,157 | +€15,560 | +46.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,715 | €7,697 | +€5,982 | +349% |
| Deferred charges and accrued income | 490/1 | €1,042 | €261 | -€780 | -74.9% |
| Total equity and liabilities | 10/49 | €95,952 | €134,126 | +€38,174 | +39.8% |
| Equity | 10/15 | €51,131 | €74,548 | +€23,417 | +45.8% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €49,637 | €73,048 | +€23,411 | +47.2% |
| Distributable reserves | 133 | €49,637 | €73,048 | +€23,411 | +47.2% |
| Profit (loss) carried forward | 14 | -€6 | €0 | +€6 | |
| Amounts payable | 17/49 | €44,821 | €59,578 | +€14,757 | +32.9% |
| Amounts payable after more than one year | 17 | €23,646 | €26,347 | +€2,701 | +11.4% |
| Financial debts | 170/4 | €23,646 | €26,347 | +€2,701 | +11.4% |
| Amounts payable within one year | 42/48 | €21,175 | €33,231 | +€12,056 | +56.9% |
| Current portion of amounts payable after more than one year | 42 | €8,323 | €13,122 | +€4,800 | +57.7% |
| Financial debts | 43 | €2,027 | €927 | -€1,100 | -54.3% |
| Credit institutions | 430/8 | €2,027 | €927 | -€1,100 | -54.3% |
| Trade debts | 44 | €1,778 | €308 | -€1,470 | -82.7% |
| Suppliers | 440/4 | €1,778 | €308 | -€1,470 | -82.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €9,047 | €18,874 | +€9,826 | +109% |
| Taxes | 450/3 | €9,047 | €18,874 | +€9,826 | +109% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,543 | €6,878 | +€4,335 | +170% |
| Other operating charges | 640/8 | €1,411 | €1,294 | -€117 | -8.3% |
| Non-recurring operating charges | 66A | €78 | €34 | -€43 | -55.7% |
| Gross operating margin | 9900 | €16,413 | €47,793 | +€31,380 | +191% |
| Operating profit (loss) | 9901 | €12,382 | €39,587 | +€27,206 | +220% |
| Financial income | 75/76B | €3,707 | €2,423 | -€1,284 | -34.6% |
| Recurring financial income | 75 | €3,707 | €2,423 | -€1,284 | -34.6% |
| Financial charges | 65/66B | €5,323 | €4,839 | -€484 | -9.1% |
| Recurring financial charges | 65 | €5,323 | €4,839 | -€484 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €10,766 | €37,171 | +€26,405 | +245% |
| Income taxes | 67/77 | €5,155 | €13,754 | +€8,599 | +167% |
| Profit (loss) for the period | 9904 | €5,611 | €23,417 | +€17,806 | +317% |
| Profit (loss) for the period to be appropriated | 9905 | €5,611 | €23,417 | +€17,806 | +317% |
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 18 October 2026 via checked.be.