T.L.N.S Construct: 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.N.S Construct
Largest movements
- Cash -€294,305
down €294,305 (-29.1%), from €1.0m to €717,505
mainly Investment in fixed assets (net) (-€278,815) and Stocks and contracts (-€241,752)
- Tangible fixed assets +€260,221
up €260,221 (+64.2%), from €405,506 to €665,726
of which Land and buildings: +€178,499
- Stocks and contracts +€241,752
new in 2025: €241,752
- Receivables within one year +€19,833
up €19,833 (+16.1%), from €123,116 to €142,949
of which Other amounts receivable: +€19,044
- Current portion of long-term debt +€213,457
up €213,457 (+1,018%), from €20,966 to €234,423
- Tax, wage and social debts -€41,859
down €41,859 (-69.8%), from €60,000 to €18,141
- Debts after one year +€30,312
up €30,312 (+9.7%), from €312,488 to €342,800
- Trade debts +€19,540
up €19,540, from €0 to €19,540
- Gross operating margin +€40,373
up €40,373 (+124%), from €32,538 to €72,912
- Taxes +€20,091
up €20,091, from -€64 to €20,027
- Depreciation +€5,074
up €5,074 (+37.5%), from €13,520 to €18,594
- Financial charges +€2,687
up €2,687 (+38.5%), from €6,977 to €9,664
- Financial income +€2,195
up €2,195 (+9,865%), from €22 to €2,217
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 | €1,551,079 | €1,789,534 | +€238,456 | +15.4% |
| Fixed assets | 21/28 | €405,506 | €665,726 | +€260,221 | +64.2% |
| Tangible fixed assets | 22/27 | €405,506 | €665,726 | +€260,221 | +64.2% |
| Land and buildings | 22 | €405,506 | €584,005 | +€178,499 | +44.0% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | - | €81,722 | +€81,722 | |
| Current assets | 29/58 | €1,145,573 | €1,123,808 | -€21,765 | -1.9% |
| Stocks and contracts in progress | 3 | - | €241,752 | +€241,752 | |
| Contracts in progress | 37 | - | €241,752 | +€241,752 | |
| Amounts receivable within one year | 40/41 | €123,116 | €142,949 | +€19,833 | +16.1% |
| Trade receivables | 40 | €33,395 | €34,184 | +€789 | +2.4% |
| Other amounts receivable | 41 | €89,721 | €108,765 | +€19,044 | +21.2% |
| Current investments | 50/53 | €10,647 | €10,703 | +€56 | +0.5% |
| Cash at bank and in hand | 54/58 | €1,011,810 | €717,505 | -€294,305 | -29.1% |
| Deferred charges and accrued income | 490/1 | €0 | €10,899 | +€10,899 | |
| Total equity and liabilities | 10/49 | €1,551,079 | €1,789,534 | +€238,456 | +15.4% |
| Equity | 10/15 | €995,540 | €1,012,546 | +€17,007 | +1.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €39,360 | €56,367 | +€17,007 | +43.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €37,500 | +€37,500 | |
| Distributable reserves | 133 | €37,500 | €17,007 | -€20,493 | -54.6% |
| Profit (loss) carried forward | 14 | €943,780 | €943,780 | = | 0.0% |
| Provisions and deferred taxes | 16 | €161,710 | €161,710 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €161,710 | €161,710 | = | 0.0% |
| Pensions and similar obligations | 160 | €161,710 | - | -€161,710 | |
| Other liabilities and charges | 164/5 | - | €161,710 | +€161,710 | |
| Amounts payable | 17/49 | €393,829 | €615,278 | +€221,449 | +56.2% |
| Amounts payable after more than one year | 17 | €312,488 | €342,800 | +€30,312 | +9.7% |
| Financial debts | 170/4 | €312,488 | €342,800 | +€30,312 | +9.7% |
| Amounts payable within one year | 42/48 | €81,341 | €272,478 | +€191,137 | +235% |
| Current portion of amounts payable after more than one year | 42 | €20,966 | €234,423 | +€213,457 | +1,018% |
| Trade debts | 44 | €0 | €19,540 | +€19,540 | |
| Suppliers | 440/4 | €0 | €19,540 | +€19,540 | |
| Taxes, remuneration and social security | 45 | €60,000 | €18,141 | -€41,859 | -69.8% |
| Taxes | 450/3 | €60,000 | €18,141 | -€41,859 | -69.8% |
| Other amounts payable | 47/48 | €375 | €375 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,520 | €18,594 | +€5,074 | +37.5% |
| Other operating charges | 640/8 | €8,013 | €9,836 | +€1,823 | +22.8% |
| Gross operating margin | 9900 | €32,538 | €72,912 | +€40,373 | +124% |
| Operating profit (loss) | 9901 | €11,005 | €44,481 | +€33,476 | +304% |
| Financial income | 75/76B | €22 | €2,217 | +€2,195 | +9,865% |
| Recurring financial income | 75 | €22 | €2,217 | +€2,195 | +9,865% |
| Financial charges | 65/66B | €6,977 | €9,664 | +€2,687 | +38.5% |
| Recurring financial charges | 65 | €6,977 | €9,664 | +€2,687 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €4,051 | €37,034 | +€32,983 | +814% |
| Income taxes | 67/77 | -€64 | €20,027 | +€20,091 | |
| Profit (loss) for the period | 9904 | €4,115 | €17,007 | +€12,892 | +313% |
| Profit (loss) for the period to be appropriated | 9905 | €4,115 | €17,007 | +€12,892 | +313% |
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 13 October 2026 via checked.be.