T.L.I.: 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.L.I.
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€100,426
2024 · -€219,231+€118,805
Equity
€4.1m
2024 · €4.2m-€100,426
Cash
€60,536
2024 · €91,937-€31,401
Balance sheet total
€16.4m
2024 · €17.0m-€595,038
Largest movements
Assets
- Tangible fixed assets -€487,801
down €487,801 (-3.1%), from €15.9m to €15.5m
Equity and liabilities
- Debts after one year -€464,349
down €464,349 (-5.3%), from €8.8m to €8.3m
Income statement
- Gross operating margin +€214,782
up €214,782 (+40.7%), from €527,523 to €742,306
- Depreciation +€87,803
up €87,803 (+15.8%), from €555,853 to €643,655
- Other operating charges +€9,966
up €9,966 (+82.6%), from €12,061 to €22,027
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
-€219,231
Gross operating margin
+€214,782
Depreciation
-€87,803
Other operating charges
-€9,966
Financial income
-€4,244
Financial charges
+€6,036
Result 2025
-€100,426
raises the resultlowers the result
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
+€502,188
Investment
-€155,855
Financing
-€377,734
Cash 2024
€91,937
From operations (derived)
+€502,188
Net result for the year
-€100,426
Depreciation
+€643,655
Receivables within one year
+€79,114
Deferred charges and accrued income
-€3,278
Provisions
-€51,515
Trade debts
+€827
Other debts
-€13,389
Accrued charges and deferred income
-€52,800
Investment (derived)
-€155,855
Investment in fixed assets (net)
-€155,855
Financing
-€377,734
Debts after one year
-€464,349
Current portion of long-term debt
+€86,615
Cash 2025
€60,536
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,994,974 | €16,399,936 | -€595,038 | -3.5% |
| Fixed assets | 21/28 | €15,942,872 | €15,455,071 | -€487,801 | -3.1% |
| Tangible fixed assets | 22/27 | €15,942,657 | €15,454,856 | -€487,801 | -3.1% |
| Land and buildings | 22 | €15,942,657 | €15,454,856 | -€487,801 | -3.1% |
| Financial fixed assets | 28 | €215 | €215 | = | 0.0% |
| Current assets | 29/58 | €1,052,103 | €944,865 | -€107,237 | -10.2% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €860,165 | €781,051 | -€79,114 | -9.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €860,165 | €781,051 | -€79,114 | -9.2% |
| Cash at bank and in hand | 54/58 | €91,937 | €60,536 | -€31,401 | -34.2% |
| Deferred charges and accrued income | 490/1 | - | €3,278 | +€3,278 | |
| Total equity and liabilities | 10/49 | €16,994,974 | €16,399,936 | -€595,038 | -3.5% |
| Equity | 10/15 | €4,181,525 | €4,081,099 | -€100,426 | -2.4% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €4,808,177 | €4,653,632 | -€154,546 | -3.2% |
| Non-distributable reserves | 130/1 | €6,456 | €6,456 | = | 0.0% |
| Legal reserve | 130 | €6,456 | €6,456 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,801,722 | €4,647,176 | -€154,546 | -3.2% |
| Profit (loss) carried forward | 14 | -€751,652 | -€697,533 | +€54,119 | +7.2% |
| Provisions and deferred taxes | 16 | €1,596,973 | €1,545,457 | -€51,515 | -3.2% |
| Deferred taxes | 168 | €1,596,973 | €1,545,457 | -€51,515 | -3.2% |
| Amounts payable | 17/49 | €11,216,477 | €10,773,380 | -€443,096 | -4.0% |
| Amounts payable after more than one year | 17 | €8,782,395 | €8,318,046 | -€464,349 | -5.3% |
| Financial debts | 170/4 | €8,782,395 | €8,318,046 | -€464,349 | -5.3% |
| Amounts payable within one year | 42/48 | €1,825,015 | €1,899,068 | +€74,052 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €311,040 | €397,655 | +€86,615 | +27.8% |
| Trade debts | 44 | €7,571 | €8,398 | +€827 | +10.9% |
| Suppliers | 440/4 | €7,571 | €8,398 | +€827 | +10.9% |
| Other amounts payable | 47/48 | €1,506,404 | €1,493,015 | -€13,389 | -0.9% |
| Accrued charges and deferred income | 492/3 | €609,067 | €556,267 | -€52,800 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €555,853 | €643,655 | +€87,803 | +15.8% |
| Other operating charges | 640/8 | €12,061 | €22,027 | +€9,966 | +82.6% |
| Gross operating margin | 9900 | €527,523 | €742,306 | +€214,782 | +40.7% |
| Operating profit (loss) | 9901 | -€40,390 | €76,624 | +€117,013 | |
| Financial income | 75/76B | €5,236 | €991 | -€4,244 | -81.1% |
| Recurring financial income | 75 | €5,236 | €991 | -€4,244 | -81.1% |
| Financial charges | 65/66B | €235,592 | €229,556 | -€6,036 | -2.6% |
| Recurring financial charges | 65 | €235,592 | €229,556 | -€6,036 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | -€270,746 | -€151,942 | +€118,805 | +43.9% |
| Transfer from deferred taxes | 780 | €51,515 | €51,515 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€219,231 | -€100,426 | +€118,805 | +54.2% |
| Transfer from tax-exempt reserves | 789 | €154,546 | €154,546 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,685 | €54,119 | +€118,805 |
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 19 October 2026 via checked.be.