T.T.O.: 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.T.O.
Largest movements
- Receivables within one year -€244,619
down €244,619 (-18.8%), from €1.3m to €1.1m
of which Trade receivables: -€255,617
- Deferred charges and accrued income -€17,154
down €17,154 (-86.4%), from €19,865 to €2,711
- Advances received -€295,800
down €295,800 (-49.1%), from €602,744 to €306,944
- Trade debts -€94,153
down €94,153 (-23.3%), from €404,843 to €310,690
- Other debts +€84,747
up €84,747 (+2,417%), from €3,506 to €88,254
- Reserves +€24,388
up €24,388 (+11.3%), from €215,127 to €239,515
of which Distributable reserves: +€26,248
- Staff costs -€113,175
down €113,175 (-29.9%), from €379,074 to €265,899
- Other operating charges +€72,885
up €72,885 (+1,057%), from €6,894 to €79,778
- Gross operating margin +€22,169
up €22,169 (+5.9%), from €373,633 to €395,802
- Taxes +€10,022
up €10,022 (+304,606%), from €3 to €10,025
- Financial charges +€6,527
up €6,527 (+348%), from €1,877 to €8,405
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 | €1,350,385 | €1,087,665 | -€262,720 | -19.5% |
| Fixed assets | 21/28 | €29,708 | €28,754 | -€955 | -3.2% |
| Tangible fixed assets | 22/27 | €27,260 | €26,305 | -€955 | -3.5% |
| Plant, machinery and equipment | 23 | €9,931 | €7,056 | -€2,874 | -28.9% |
| Furniture and vehicles | 24 | €17,329 | €19,249 | +€1,919 | +11.1% |
| Financial fixed assets | 28 | €2,449 | €2,449 | = | 0.0% |
| Current assets | 29/58 | €1,320,677 | €1,058,912 | -€261,765 | -19.8% |
| Amounts receivable within one year | 40/41 | €1,299,803 | €1,055,184 | -€244,619 | -18.8% |
| Trade receivables | 40 | €991,058 | €735,441 | -€255,617 | -25.8% |
| Other amounts receivable | 41 | €308,745 | €319,744 | +€10,999 | +3.6% |
| Cash at bank and in hand | 54/58 | €1,009 | €1,017 | +€8 | +0.8% |
| Deferred charges and accrued income | 490/1 | €19,865 | €2,711 | -€17,154 | -86.4% |
| Total equity and liabilities | 10/49 | €1,350,385 | €1,087,665 | -€262,720 | -19.5% |
| Equity | 10/15 | €233,727 | €258,115 | +€24,388 | +10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €215,127 | €239,515 | +€24,388 | +11.3% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €21,634 | €21,634 | = | 0.0% |
| Distributable reserves | 133 | €191,633 | €217,881 | +€26,248 | +13.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,116,658 | €829,550 | -€287,108 | -25.7% |
| Amounts payable after more than one year | 17 | €0 | €8,495 | +€8,495 | |
| Financial debts | 170/4 | €0 | €8,495 | +€8,495 | |
| Amounts payable within one year | 42/48 | €1,116,658 | €821,055 | -€295,603 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €85,401 | €94,175 | +€8,774 | +10.3% |
| Trade debts | 44 | €404,843 | €310,690 | -€94,153 | -23.3% |
| Suppliers | 440/4 | €404,843 | €310,690 | -€94,153 | -23.3% |
| Advances received on contracts in progress | 46 | €602,744 | €306,944 | -€295,800 | -49.1% |
| Taxes, remuneration and social security | 45 | €20,163 | €20,991 | +€828 | +4.1% |
| Taxes | 450/3 | €6,058 | €16,592 | +€10,534 | +174% |
| Remuneration and social security | 454/9 | €14,105 | €4,399 | -€9,706 | -68.8% |
| Other amounts payable | 47/48 | €3,506 | €88,254 | +€84,747 | +2,417% |
| Non-recurring operating income | 76A | - | €121 | +€121 | |
| Remuneration, social security and pensions | 62 | €379,074 | €265,899 | -€113,175 | -29.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,797 | €7,578 | -€4,220 | -35.8% |
| Other operating charges | 640/8 | €6,894 | €79,778 | +€72,885 | +1,057% |
| Gross operating margin | 9900 | €373,633 | €395,802 | +€22,169 | +5.9% |
| Operating profit (loss) | 9901 | -€24,132 | €42,547 | +€66,679 | |
| Financial income | 75/76B | €776 | €271 | -€505 | -65.1% |
| Recurring financial income | 75 | €776 | €271 | -€505 | -65.1% |
| Financial charges | 65/66B | €1,877 | €8,405 | +€6,527 | +348% |
| Recurring financial charges | 65 | €1,877 | €8,405 | +€6,527 | +348% |
| Profit (loss) for the period before taxes | 9903 | -€25,234 | €34,413 | +€59,647 | |
| Income taxes | 67/77 | €3 | €10,025 | +€10,022 | +304,606% |
| Profit (loss) for the period | 9904 | -€25,237 | €24,388 | +€49,625 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,237 | €24,388 | +€49,625 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.