T.G. CONCEPT: 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.G. CONCEPT
Largest movements
- Receivables within one year +€199,550
up €199,550 (+39.6%), from €504,274 to €703,823
of which Trade receivables: +€195,256
- Stocks and contracts +€65,952
up €65,952 (+71.7%), from €91,953 to €157,905
- Cash -€52,643
down €52,643 (-16.4%), from €320,777 to €268,135
mainly Receivables within one year (-€199,550) and Investment in fixed assets (net) (-€79,697)
- Tangible fixed assets +€23,098
up €23,098 (+18.6%), from €124,176 to €147,274
of which Furniture and vehicles: +€24,341
- Tax, wage and social debts +€69,803
up €69,803 (+196%), from €35,681 to €105,484
of which Taxes: +€71,812
- Trade debts +€64,753
up €64,753 (+66.1%), from €97,973 to €162,726
- Debts after one year +€51,524
new in 2025: €51,524
- Reserves +€47,000
up €47,000 (+4.1%), from €1.2m to €1.2m
of which Distributable reserves: +€47,000
- Current portion of long-term debt +€16,340
up €16,340 (+231%), from €7,065 to €23,405
- Gross operating margin -€128,623
down €128,623 (-29.3%), from €439,151 to €310,528
- Taxes -€46,182
down €46,182 (-69.2%), from €66,745 to €20,563
- Depreciation +€23,014
up €23,014 (+68.5%), from €33,585 to €56,599
- Staff costs -€6,623
down €6,623 (-3.6%), from €182,685 to €176,062
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 | €1,325,154 | €1,574,581 | +€249,427 | +18.8% |
| Fixed assets | 21/28 | €124,306 | €147,404 | +€23,098 | +18.6% |
| Tangible fixed assets | 22/27 | €124,176 | €147,274 | +€23,098 | +18.6% |
| Plant, machinery and equipment | 23 | €38,027 | €34,107 | -€3,919 | -10.3% |
| Furniture and vehicles | 24 | €86,150 | €110,491 | +€24,341 | +28.3% |
| Other tangible fixed assets | 26 | - | €2,676 | +€2,676 | |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €1,200,848 | €1,427,177 | +€226,329 | +18.8% |
| Stocks and contracts in progress | 3 | €91,953 | €157,905 | +€65,952 | +71.7% |
| Stocks | 30/36 | €91,953 | €157,905 | +€65,952 | +71.7% |
| Amounts receivable within one year | 40/41 | €504,274 | €703,823 | +€199,550 | +39.6% |
| Trade receivables | 40 | €467,309 | €662,565 | +€195,256 | +41.8% |
| Other amounts receivable | 41 | €36,965 | €41,258 | +€4,293 | +11.6% |
| Current investments | 50/53 | €272,707 | €272,707 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €320,777 | €268,135 | -€52,643 | -16.4% |
| Deferred charges and accrued income | 490/1 | €11,137 | €24,606 | +€13,470 | +121% |
| Total equity and liabilities | 10/49 | €1,325,154 | €1,574,581 | +€249,427 | +18.8% |
| Equity | 10/15 | €1,176,093 | €1,223,100 | +€47,007 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,157,012 | €1,204,012 | +€47,000 | +4.1% |
| Non-distributable reserves | 130/1 | €272,707 | €272,707 | = | 0.0% |
| Own shares acquired | 1312 | €272,707 | €272,707 | = | 0.0% |
| Distributable reserves | 133 | €884,305 | €931,305 | +€47,000 | +5.3% |
| Profit (loss) carried forward | 14 | €482 | €488 | +€7 | +1.4% |
| Amounts payable | 17/49 | €149,061 | €351,481 | +€202,420 | +136% |
| Amounts payable after more than one year | 17 | - | €51,524 | +€51,524 | |
| Financial debts | 170/4 | - | €51,524 | +€51,524 | |
| Amounts payable within one year | 42/48 | €149,061 | €299,957 | +€150,896 | +101% |
| Current portion of amounts payable after more than one year | 42 | €7,065 | €23,405 | +€16,340 | +231% |
| Trade debts | 44 | €97,973 | €162,726 | +€64,753 | +66.1% |
| Suppliers | 440/4 | €97,973 | €162,726 | +€64,753 | +66.1% |
| Taxes, remuneration and social security | 45 | €35,681 | €105,484 | +€69,803 | +196% |
| Taxes | 450/3 | €25,822 | €97,634 | +€71,812 | +278% |
| Remuneration and social security | 454/9 | €9,859 | €7,850 | -€2,009 | -20.4% |
| Other amounts payable | 47/48 | €8,342 | €8,342 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €182,685 | €176,062 | -€6,623 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,585 | €56,599 | +€23,014 | +68.5% |
| Other operating charges | 640/8 | €6,133 | €7,222 | +€1,089 | +17.8% |
| Gross operating margin | 9900 | €439,151 | €310,528 | -€128,623 | -29.3% |
| Operating profit (loss) | 9901 | €216,749 | €70,645 | -€146,104 | -67.4% |
| Financial income | 75/76B | €1,766 | €365 | -€1,401 | -79.3% |
| Recurring financial income | 75 | €1,248 | €365 | -€883 | -70.8% |
| Non-recurring financial income | 76B | €518 | - | -€518 | |
| Financial charges | 65/66B | €2,459 | €3,440 | +€981 | +39.9% |
| Recurring financial charges | 65 | €2,459 | €2,828 | +€369 | +15.0% |
| Non-recurring financial charges | 66B | - | €612 | +€612 | |
| Profit (loss) for the period before taxes | 9903 | €216,056 | €67,570 | -€148,486 | -68.7% |
| Income taxes | 67/77 | €66,745 | €20,563 | -€46,182 | -69.2% |
| Profit (loss) for the period | 9904 | €149,311 | €47,007 | -€102,304 | -68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €149,311 | €47,007 | -€102,304 | -68.5% |
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 17 October 2026 via checked.be.