T.P.M. Dulcedo: what changed
What changed
T.P.M. Dulcedo
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€17,772
2024 · €131,293-€113,521
Equity
€1.9m
2024 · €1.9m+€17,772
Cash
€121,364
2024 · €116,266+€5,098
Balance sheet total
€2.5m
2024 · €2.5m+€11,351
Largest movements
Assets
- Tangible fixed assets -€60,113
down €60,113 (-6.0%), from €996,991 to €936,877
- Current investments +€50,321
up €50,321 (+3.8%), from €1.3m to €1.4m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€110,875
down €110,875 (-53.7%), from €206,629 to €95,754
of which Non-recurring financial income: -€150,000
- Depreciation +€18,055
up €18,055 (+33.9%), from €53,209 to €71,264
- Purchases and services -€13,579
down €13,579 (-14.4%), from €94,458 to €80,879
- Gross operating margin +€9,237
up €9,237 (+64.6%), from €14,293 to €23,530
- Financial charges -€5,272
down €5,272 (-25.2%), from €20,914 to €15,642
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€131,293
Gross operating margin
+€9,237
Depreciation
-€18,055
Other operating charges
+€1,059
Financial income
-€110,875
Financial charges
+€5,272
Taxes
-€159
Result 2025
€17,772
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€66,569
Investment
-€61,472
Financing
€0
Cash 2024
€116,266
From operations (derived)
+€66,569
Net result for the year
+€17,772
Depreciation
+€71,264
Receivables within one year
-€14,757
Deferred charges and accrued income
-€1,289
Trade debts
-€5,999
Tax, wage and social debts
+€689
Other debts
-€771
Accrued charges and deferred income
-€341
Investment (derived)
-€61,472
Investment in fixed assets (net)
-€11,151
Current investments
-€50,321
Cash 2025
€121,364
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,461,157 | €2,472,508 | +€11,351 | +0.5% |
| Fixed assets | 21/28 | €996,991 | €936,877 | -€60,113 | -6.0% |
| Tangible fixed assets | 22/27 | €996,991 | €936,877 | -€60,113 | -6.0% |
| Land and buildings | 22 | €818,891 | €788,885 | -€30,006 | -3.7% |
| Plant, machinery and equipment | 23 | €21,422 | €19,337 | -€2,085 | -9.7% |
| Furniture and vehicles | 24 | €156,677 | €128,655 | -€28,022 | -17.9% |
| Current assets | 29/58 | €1,464,167 | €1,535,631 | +€71,464 | +4.9% |
| Amounts receivable within one year | 40/41 | €22,571 | €37,328 | +€14,757 | +65.4% |
| Trade receivables | 40 | €8,286 | €9,929 | +€1,643 | +19.8% |
| Other amounts receivable | 41 | €14,285 | €27,399 | +€13,113 | +91.8% |
| Current investments | 50/53 | €1,320,759 | €1,371,080 | +€50,321 | +3.8% |
| Cash at bank and in hand | 54/58 | €116,266 | €121,364 | +€5,098 | +4.4% |
| Deferred charges and accrued income | 490/1 | €4,570 | €5,859 | +€1,289 | +28.2% |
| Total equity and liabilities | 10/49 | €2,461,157 | €2,472,508 | +€11,351 | +0.5% |
| Equity | 10/15 | €1,875,653 | €1,893,425 | +€17,772 | +0.9% |
| Contributions | 10/11 | €67,000 | €67,000 | = | 0.0% |
| Capital | 10 | €67,000 | €67,000 | = | 0.0% |
| Issued capital | 100 | €67,000 | €67,000 | = | 0.0% |
| Reserves | 13 | €1,756,887 | €1,756,887 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,700 | €6,700 | = | 0.0% |
| Legal reserve | 130 | €6,700 | €6,700 | = | 0.0% |
| Distributable reserves | 133 | €1,750,187 | €1,750,187 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,766 | €69,538 | +€17,772 | +34.3% |
| Amounts payable | 17/49 | €585,504 | €579,083 | -€6,422 | -1.1% |
| Amounts payable after more than one year | 17 | €566,000 | €566,000 | = | 0.0% |
| Financial debts | 170/4 | €566,000 | €566,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €19,103 | €13,023 | -€6,080 | -31.8% |
| Trade debts | 44 | €14,079 | €8,081 | -€5,999 | -42.6% |
| Suppliers | 440/4 | €14,079 | €8,081 | -€5,999 | -42.6% |
| Taxes, remuneration and social security | 45 | €3,468 | €4,157 | +€689 | +19.9% |
| Taxes | 450/3 | €3,468 | €4,157 | +€689 | +19.9% |
| Other amounts payable | 47/48 | €1,556 | €785 | -€771 | -49.5% |
| Accrued charges and deferred income | 492/3 | €401 | €60 | -€341 | -85.1% |
| Turnover | 70 | €106,066 | €103,175 | -€2,891 | -2.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €94,458 | €80,879 | -€13,579 | -14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,209 | €71,264 | +€18,055 | +33.9% |
| Other operating charges | 640/8 | €15,031 | €13,972 | -€1,059 | -7.0% |
| Gross operating margin | 9900 | €14,293 | €23,530 | +€9,237 | +64.6% |
| Operating profit (loss) | 9901 | -€53,947 | -€61,706 | -€7,759 | -14.4% |
| Financial income | 75/76B | €206,629 | €95,754 | -€110,875 | -53.7% |
| Recurring financial income | 75 | €56,629 | €95,754 | +€39,125 | +69.1% |
| Non-recurring financial income | 76B | €150,000 | - | -€150,000 | |
| Financial charges | 65/66B | €20,914 | €15,642 | -€5,272 | -25.2% |
| Recurring financial charges | 65 | €20,914 | €15,642 | -€5,272 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €131,768 | €18,406 | -€113,362 | -86.0% |
| Income taxes | 67/77 | €475 | €634 | +€159 | +33.4% |
| Profit (loss) for the period | 9904 | €131,293 | €17,772 | -€113,521 | -86.5% |
| Profit (loss) for the period to be appropriated | 9905 | €131,293 | €17,772 | -€113,521 | -86.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.