T-PACK: 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-PACK
Largest movements
- Receivables within one year -€67,705
down €67,705 (-51.0%), from €132,697 to €64,992
of which Other amounts receivable: -€56,723
- Cash +€28,266
up €28,266 (+290%), from €9,754 to €38,019
mainly Net result for the year (+€88,357) and Receivables within one year (+€67,705)
- Financial fixed assets -€16,839
down €16,839 (-8.4%), from €200,000 to €183,161
- Tangible fixed assets -€11,881
down €11,881 (-9.9%), from €120,499 to €108,618
of which Furniture and vehicles: -€16,808
- Other debts -€135,000
no longer reported in 2025 (was €135,000)
- Reserves +€88,357
up €88,357 (+40.4%), from €218,763 to €307,120
of which Distributable reserves: +€88,357
- Debts after one year -€20,232
down €20,232 (-41.7%), from €48,501 to €28,269
- Financial income +€61,901
up €61,901 (+1,183%), from €5,231 to €67,132
- Gross operating margin -€9,626
down €9,626 (-11.8%), from €81,594 to €71,969
- Depreciation +€3,085
up €3,085 (+13.5%), from €22,918 to €26,003
- Taxes +€1,152
up €1,152 (+6.7%), from €17,215 to €18,366
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 | €471,090 | €401,443 | -€69,647 | -14.8% |
| Fixed assets | 21/28 | €320,499 | €291,779 | -€28,721 | -9.0% |
| Tangible fixed assets | 22/27 | €120,499 | €108,618 | -€11,881 | -9.9% |
| Land and buildings | 22 | €34,207 | €28,705 | -€5,502 | -16.1% |
| Furniture and vehicles | 24 | €72,341 | €55,533 | -€16,808 | -23.2% |
| Other tangible fixed assets | 26 | €13,952 | €24,381 | +€10,429 | +74.8% |
| Financial fixed assets | 28 | €200,000 | €183,161 | -€16,839 | -8.4% |
| Current assets | 29/58 | €150,591 | €109,665 | -€40,927 | -27.2% |
| Amounts receivable within one year | 40/41 | €132,697 | €64,992 | -€67,705 | -51.0% |
| Trade receivables | 40 | €29,661 | €18,679 | -€10,982 | -37.0% |
| Other amounts receivable | 41 | €103,035 | €46,312 | -€56,723 | -55.1% |
| Cash at bank and in hand | 54/58 | €9,754 | €38,019 | +€28,266 | +290% |
| Deferred charges and accrued income | 490/1 | €8,141 | €6,654 | -€1,487 | -18.3% |
| Total equity and liabilities | 10/49 | €471,090 | €401,443 | -€69,647 | -14.8% |
| Equity | 10/15 | €231,163 | €319,520 | +€88,357 | +38.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €218,763 | €307,120 | +€88,357 | +40.4% |
| Tax-exempt reserves | 132 | €4,996 | €4,996 | = | 0.0% |
| Distributable reserves | 133 | €213,767 | €302,124 | +€88,357 | +41.3% |
| Amounts payable | 17/49 | €239,927 | €81,923 | -€158,004 | -65.9% |
| Amounts payable after more than one year | 17 | €48,501 | €28,269 | -€20,232 | -41.7% |
| Financial debts | 170/4 | €48,501 | €28,269 | -€20,232 | -41.7% |
| Amounts payable within one year | 42/48 | €191,426 | €53,636 | -€137,790 | -72.0% |
| Current portion of amounts payable after more than one year | 42 | €21,482 | €20,232 | -€1,250 | -5.8% |
| Financial debts | 43 | €6,786 | €6,762 | -€24 | -0.4% |
| Credit institutions | 430/8 | €6,786 | €6,762 | -€24 | -0.4% |
| Trade debts | 44 | €6,999 | €8,839 | +€1,840 | +26.3% |
| Suppliers | 440/4 | €6,999 | €8,839 | +€1,840 | +26.3% |
| Taxes, remuneration and social security | 45 | €21,160 | €17,803 | -€3,356 | -15.9% |
| Taxes | 450/3 | €21,160 | €16,053 | -€5,106 | -24.1% |
| Remuneration and social security | 454/9 | - | €1,750 | +€1,750 | |
| Other amounts payable | 47/48 | €135,000 | - | -€135,000 | |
| Accrued charges and deferred income | 492/3 | - | €18 | +€18 | |
| Non-recurring operating income | 76A | €11,593 | - | -€11,593 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,918 | €26,003 | +€3,085 | +13.5% |
| Other operating charges | 640/8 | €2,743 | €1,996 | -€747 | -27.2% |
| Gross operating margin | 9900 | €81,594 | €71,969 | -€9,626 | -11.8% |
| Operating profit (loss) | 9901 | €55,933 | €43,969 | -€11,964 | -21.4% |
| Financial income | 75/76B | €5,231 | €67,132 | +€61,901 | +1,183% |
| Recurring financial income | 75 | €5,231 | €67,132 | +€61,901 | +1,183% |
| Financial charges | 65/66B | €4,465 | €4,379 | -€87 | -1.9% |
| Recurring financial charges | 65 | €4,465 | €4,379 | -€87 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €56,699 | €106,723 | +€50,024 | +88.2% |
| Income taxes | 67/77 | €17,215 | €18,366 | +€1,152 | +6.7% |
| Profit (loss) for the period | 9904 | €39,484 | €88,357 | +€48,872 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €39,484 | €88,357 | +€48,872 | +124% |
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 18 October 2026 via checked.be.