T.D.N.: 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.D.N.
Largest movements
- Tangible fixed assets +€680,956
up €680,956 (+137.2%), from €496,202 to €1.2m
- Revaluation surpluses +€684,798
up €684,798 (+154.1%), from €444,259 to €1.1m
- Gross operating margin +€231
up €231 (+2.0%), from €11,475 to €11,706
- Other operating charges +€135
up €135 (+3.7%), from €3,638 to €3,774
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 | €528,155 | €1,213,710 | +€685,555 | +129.8% |
| Fixed assets | 21/28 | €496,202 | €1,177,158 | +€680,956 | +137.2% |
| Tangible fixed assets | 22/27 | €496,202 | €1,177,158 | +€680,956 | +137.2% |
| Land and buildings | 22 | €496,202 | €1,177,158 | +€680,956 | +137.2% |
| Current assets | 29/58 | €31,953 | €36,552 | +€4,599 | +14.4% |
| Amounts receivable within one year | 40/41 | €18,227 | €17,017 | -€1,211 | -6.6% |
| Other amounts receivable | 41 | €18,227 | €17,017 | -€1,211 | -6.6% |
| Cash at bank and in hand | 54/58 | €9,645 | €15,447 | +€5,802 | +60.2% |
| Deferred charges and accrued income | 490/1 | €4,081 | €4,088 | +€7 | +0.2% |
| Total equity and liabilities | 10/49 | €528,155 | €1,213,710 | +€685,555 | +129.8% |
| Equity | 10/15 | €494,893 | €1,182,264 | +€687,371 | +138.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €444,259 | €1,129,057 | +€684,798 | +154.1% |
| Reserves | 13 | €32,042 | €34,614 | +€2,573 | +8.0% |
| Distributable reserves | 133 | €32,042 | €34,614 | +€2,573 | +8.0% |
| Amounts payable | 17/49 | €33,262 | €31,446 | -€1,816 | -5.5% |
| Amounts payable within one year | 42/48 | €32,875 | €31,047 | -€1,828 | -5.6% |
| Financial debts | 43 | €30,017 | €30,017 | = | 0.0% |
| Other loans | 439 | €30,017 | €30,017 | = | 0.0% |
| Trade debts | 44 | €971 | €1,030 | +€59 | +6.1% |
| Suppliers | 440/4 | €971 | €1,030 | +€59 | +6.1% |
| Taxes, remuneration and social security | 45 | €1,887 | €0 | -€1,887 | -100.0% |
| Taxes | 450/3 | €1,887 | €0 | -€1,887 | -100.0% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,842 | €3,842 | = | 0.0% |
| Other operating charges | 640/8 | €3,638 | €3,774 | +€135 | +3.7% |
| Gross operating margin | 9900 | €11,475 | €11,706 | +€231 | +2.0% |
| Operating profit (loss) | 9901 | €3,995 | €4,090 | +€95 | +2.4% |
| Financial income | 75/76B | €16 | €24 | +€7 | +46.0% |
| Recurring financial income | 75 | €16 | €24 | +€7 | +46.0% |
| Financial charges | 65/66B | €278 | €341 | +€63 | +22.5% |
| Recurring financial charges | 65 | €278 | €341 | +€63 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | €3,733 | €3,773 | +€40 | +1.1% |
| Income taxes | 67/77 | €1,188 | €1,201 | +€13 | +1.1% |
| Profit (loss) for the period | 9904 | €2,545 | €2,573 | +€27 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,545 | €2,573 | +€27 | +1.1% |
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 3 October 2026 via checked.be.