T.L.A.: 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.L.A.
Largest movements
- Cash +€418,734
up €418,734 (+213.0%), from €196,544 to €615,278
mainly Current investments (+€370,684) and Net result for the year (+€107,962)
- Current investments -€370,684
down €370,684 (-47.7%), from €776,846 to €406,162
- Tangible fixed assets -€14,962
down €14,962 (-15.5%), from €96,548 to €81,586
of which Furniture and vehicles: -€11,839
- Other debts +€65,703
up €65,703 (+22.1%), from €297,295 to €362,997
- Tax, wage and social debts -€23,317
down €23,317 (-49.5%), from €47,138 to €23,821
- Gross operating margin -€35,147
down €35,147 (-15.1%), from €232,516 to €197,369
- Financial income -€12,843
down €12,843 (-56.6%), from €22,682 to €9,839
- Taxes -€11,251
down €11,251 (-15.9%), from €70,752 to €59,501
- Financial charges +€8,180
up €8,180 (+50.8%), from €16,116 to €24,296
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 | €1,102,436 | €1,134,075 | +€31,639 | +2.9% |
| Fixed assets | 21/28 | €96,548 | €81,586 | -€14,962 | -15.5% |
| Tangible fixed assets | 22/27 | €96,548 | €81,586 | -€14,962 | -15.5% |
| Land and buildings | 22 | €81,775 | €78,652 | -€3,122 | -3.8% |
| Furniture and vehicles | 24 | €14,773 | €2,934 | -€11,839 | -80.1% |
| Current assets | 29/58 | €1,005,888 | €1,052,489 | +€46,600 | +4.6% |
| Amounts receivable within one year | 40/41 | €32,499 | €31,049 | -€1,449 | -4.5% |
| Trade receivables | 40 | €32,499 | €31,049 | -€1,449 | -4.5% |
| Current investments | 50/53 | €776,846 | €406,162 | -€370,684 | -47.7% |
| Cash at bank and in hand | 54/58 | €196,544 | €615,278 | +€418,734 | +213.0% |
| Total equity and liabilities | 10/49 | €1,102,436 | €1,134,075 | +€31,639 | +2.9% |
| Equity | 10/15 | €630,514 | €621,128 | -€9,385 | -1.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €618,114 | €608,728 | -€9,385 | -1.5% |
| Distributable reserves | 133 | €618,114 | €608,728 | -€9,385 | -1.5% |
| Amounts payable | 17/49 | €471,922 | €512,946 | +€41,024 | +8.7% |
| Amounts payable after more than one year | 17 | €126,000 | €126,000 | = | 0.0% |
| Financial debts | 170/4 | €126,000 | €126,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €345,922 | €386,946 | +€41,024 | +11.9% |
| Trade debts | 44 | €1,489 | €128 | -€1,362 | -91.4% |
| Suppliers | 440/4 | €1,489 | €128 | -€1,362 | -91.4% |
| Taxes, remuneration and social security | 45 | €47,138 | €23,821 | -€23,317 | -49.5% |
| Taxes | 450/3 | €47,138 | €23,821 | -€23,317 | -49.5% |
| Other amounts payable | 47/48 | €297,295 | €362,997 | +€65,703 | +22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,962 | €14,962 | = | 0.0% |
| Other operating charges | 640/8 | €365 | €486 | +€121 | +33.1% |
| Gross operating margin | 9900 | €232,516 | €197,369 | -€35,147 | -15.1% |
| Operating profit (loss) | 9901 | €217,189 | €181,921 | -€35,268 | -16.2% |
| Financial income | 75/76B | €22,682 | €9,839 | -€12,843 | -56.6% |
| Recurring financial income | 75 | €22,682 | €9,839 | -€12,843 | -56.6% |
| Financial charges | 65/66B | €16,116 | €24,296 | +€8,180 | +50.8% |
| Recurring financial charges | 65 | €16,116 | €24,296 | +€8,180 | +50.8% |
| Profit (loss) for the period before taxes | 9903 | €223,755 | €167,464 | -€56,292 | -25.2% |
| Income taxes | 67/77 | €70,752 | €59,501 | -€11,251 | -15.9% |
| Profit (loss) for the period | 9904 | €153,003 | €107,962 | -€45,041 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €153,003 | €107,962 | -€45,041 | -29.4% |
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 10 October 2026 via checked.be.