T-Link Project: 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-Link Project
Largest movements
- Current investments +€202,238
new in 2025: €202,238
- Cash -€198,481
no longer reported in 2025 (was €198,481)
mainly Current investments (-€202,238) and Receivables within one year (-€31,685)
- Receivables within one year +€31,685
up €31,685 (+886.2%), from €3,575 to €35,260
- Tangible fixed assets +€18,064
up €18,064 (+894.9%), from €2,018 to €20,082
- Accrued charges and deferred income +€30,335
new in 2025: €30,335
- Profit (loss) carried forward +€16,314
up €16,314 (+14.2%), from €114,531 to €130,845
- Trade debts +€8,138
up €8,138 (+1456.0%), from €559 to €8,697
- Other debts -€3,160
down €3,160 (-89.3%), from €3,539 to €379
- Taxes -€13,943
no longer reported in 2025 (was €13,943)
- Gross operating margin +€4,752
up €4,752 (+26.9%), from €17,667 to €22,420
- Depreciation +€4,657
up €4,657 (+826.7%), from €563 to €5,220
- Financial income -€3,239
no longer reported in 2025 (was €3,239)
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 | €204,075 | €257,580 | +€53,505 | +26.2% |
| Fixed assets | 21/28 | €2,018 | €20,082 | +€18,064 | +894.9% |
| Tangible fixed assets | 22/27 | €2,018 | €20,082 | +€18,064 | +894.9% |
| Furniture and vehicles | 24 | €2,018 | €20,082 | +€18,064 | +894.9% |
| Current assets | 29/58 | €202,057 | €237,498 | +€35,441 | +17.5% |
| Amounts receivable within one year | 40/41 | €3,575 | €35,260 | +€31,685 | +886.2% |
| Trade receivables | 40 | €3,575 | €35,260 | +€31,685 | +886.2% |
| Current investments | 50/53 | - | €202,238 | +€202,238 | |
| Cash at bank and in hand | 54/58 | €198,481 | - | -€198,481 | |
| Total equity and liabilities | 10/49 | €204,075 | €257,580 | +€53,505 | +26.2% |
| Equity | 10/15 | €196,791 | €213,105 | +€16,314 | +8.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €69,860 | €69,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,531 | €130,845 | +€16,314 | +14.2% |
| Amounts payable | 17/49 | €7,284 | €44,475 | +€37,191 | +510.6% |
| Amounts payable within one year | 42/48 | €7,284 | €14,140 | +€6,856 | +94.1% |
| Trade debts | 44 | €559 | €8,697 | +€8,138 | +1456.0% |
| Suppliers | 440/4 | €559 | €8,697 | +€8,138 | +1456.0% |
| Taxes, remuneration and social security | 45 | €3,187 | €5,064 | +€1,878 | +58.9% |
| Taxes | 450/3 | €3,187 | €5,064 | +€1,878 | +58.9% |
| Other amounts payable | 47/48 | €3,539 | €379 | -€3,160 | -89.3% |
| Accrued charges and deferred income | 492/3 | - | €30,335 | +€30,335 | |
| Remuneration, social security and pensions | 62 | €116 | - | -€116 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €563 | €5,220 | +€4,657 | +826.7% |
| Other operating charges | 640/8 | €792 | €710 | -€82 | -10.3% |
| Gross operating margin | 9900 | €17,667 | €22,420 | +€4,752 | +26.9% |
| Operating profit (loss) | 9901 | €16,197 | €16,490 | +€293 | +1.8% |
| Financial income | 75/76B | €3,239 | - | -€3,239 | |
| Recurring financial income | 75 | €3,239 | - | -€3,239 | |
| Financial charges | 65/66B | €193 | €176 | -€18 | -9.1% |
| Recurring financial charges | 65 | €193 | €176 | -€18 | -9.1% |
| Profit (loss) for the period before taxes | 9903 | €19,243 | €16,314 | -€2,928 | -15.2% |
| Income taxes | 67/77 | €13,943 | - | -€13,943 | |
| Profit (loss) for the period | 9904 | €5,299 | €16,314 | +€11,015 | +207.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,299 | €16,314 | +€11,015 | +207.9% |
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 30 September 2026 via checked.be.