T&T's: what changed
T&T's
Largest movements
- Stocks and contracts +€182,549
up €182,549 (+105%), from €174,151 to €356,700
- Cash -€114,058
down €114,058 (-80.5%), from €141,713 to €27,655
mainly Stocks and contracts (-€182,549) and Investment in fixed assets (net) (-€73,426)
- Tangible fixed assets +€38,098
up €38,098 (+68.5%), from €55,631 to €93,729
of which Furniture and vehicles: +€46,080
- Intangible fixed assets +€16,220
new in 2025: €16,220
- Other debts +€34,963
up €34,963 (+135%), from €25,955 to €60,917
- Trade debts +€28,923
up €28,923 (+84.1%), from €34,376 to €63,299
- Reserves +€28,877
up €28,877 (+11.1%), from €259,786 to €288,663
of which Distributable reserves: +€28,877
- Debts after one year +€27,537
up €27,537 (+95.8%), from €28,757 to €56,294
- Current portion of long-term debt +€9,124
up €9,124 (+95.2%), from €9,587 to €18,711
- Gross operating margin +€36,100
up €36,100 (+45.6%), from €79,141 to €115,241
- Taxes +€10,608
up €10,608 (+67.6%), from €15,698 to €26,305
- Depreciation -€1,399
down €1,399 (-6.8%), from €20,507 to €19,108
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €391,796 | €517,781 | +€125,985 | +32.2% |
| Fixed assets | 21/28 | €55,631 | €109,949 | +€54,318 | +97.6% |
| Intangible fixed assets | 21 | - | €16,220 | +€16,220 | |
| Tangible fixed assets | 22/27 | €55,631 | €93,729 | +€38,098 | +68.5% |
| Plant, machinery and equipment | 23 | €11,094 | €14,909 | +€3,815 | +34.4% |
| Furniture and vehicles | 24 | - | €46,080 | +€46,080 | |
| Leasing and similar rights | 25 | €44,537 | €32,740 | -€11,797 | -26.5% |
| Current assets | 29/58 | €336,165 | €407,833 | +€71,668 | +21.3% |
| Stocks and contracts in progress | 3 | €174,151 | €356,700 | +€182,549 | +105% |
| Stocks | 30/36 | €174,151 | €356,700 | +€182,549 | +105% |
| Amounts receivable within one year | 40/41 | €20,301 | €23,254 | +€2,954 | +14.5% |
| Trade receivables | 40 | €19,192 | €12,549 | -€6,644 | -34.6% |
| Other amounts receivable | 41 | €1,108 | €10,706 | +€9,597 | +866% |
| Cash at bank and in hand | 54/58 | €141,713 | €27,655 | -€114,058 | -80.5% |
| Deferred charges and accrued income | 490/1 | - | €224 | +€224 | |
| Total equity and liabilities | 10/49 | €391,796 | €517,781 | +€125,985 | +32.2% |
| Equity | 10/15 | €278,378 | €307,255 | +€28,877 | +10.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €259,786 | €288,663 | +€28,877 | +11.1% |
| Tax-exempt reserves | 132 | €19,176 | €19,176 | = | 0.0% |
| Distributable reserves | 133 | €240,609 | €269,487 | +€28,877 | +12.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €113,418 | €210,526 | +€97,108 | +85.6% |
| Amounts payable after more than one year | 17 | €28,757 | €56,294 | +€27,537 | +95.8% |
| Financial debts | 170/4 | €28,757 | €56,294 | +€27,537 | +95.8% |
| Amounts payable within one year | 42/48 | €84,661 | €154,232 | +€69,571 | +82.2% |
| Current portion of amounts payable after more than one year | 42 | €9,587 | €18,711 | +€9,124 | +95.2% |
| Trade debts | 44 | €34,376 | €63,299 | +€28,923 | +84.1% |
| Suppliers | 440/4 | €34,376 | €63,299 | +€28,923 | +84.1% |
| Taxes, remuneration and social security | 45 | €14,744 | €11,305 | -€3,439 | -23.3% |
| Taxes | 450/3 | €12,444 | €11,305 | -€1,139 | -9.2% |
| Remuneration and social security | 454/9 | €2,300 | €0 | -€2,300 | -100% |
| Other amounts payable | 47/48 | €25,955 | €60,917 | +€34,963 | +135% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,507 | €19,108 | -€1,399 | -6.8% |
| Other operating charges | 640/8 | €1,987 | €2,992 | +€1,005 | +50.6% |
| Gross operating margin | 9900 | €79,141 | €115,241 | +€36,100 | +45.6% |
| Operating profit (loss) | 9901 | €56,647 | €93,142 | +€36,494 | +64.4% |
| Financial income | 75/76B | €2 | €6 | +€4 | +159% |
| Recurring financial income | 75 | €2 | €6 | +€4 | +159% |
| Financial charges | 65/66B | €3,514 | €4,544 | +€1,030 | +29.3% |
| Recurring financial charges | 65 | €3,514 | €4,144 | +€630 | +17.9% |
| Non-recurring financial charges | 66B | - | €400 | +€400 | |
| Profit (loss) for the period before taxes | 9903 | €53,135 | €88,604 | +€35,468 | +66.8% |
| Income taxes | 67/77 | €15,698 | €26,305 | +€10,608 | +67.6% |
| Profit (loss) for the period | 9904 | €37,438 | €62,298 | +€24,861 | +66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €37,438 | €62,298 | +€24,861 | +66.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.