T.V.B.: 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.V.B.
Largest movements
- Tangible fixed assets -€3.0m
down €3.0m (-26.5%), from €11.2m to €8.3m
of which Land and buildings: -€1.6m
- Financial fixed assets -€2.6m
down €2.6m (-21.1%), from €12.2m to €9.7m
- Receivables within one year +€1.1m
up €1.1m (+457.2%), from €230,297 to €1.3m
of which Trade receivables: +€812,302
- Short-term financial debts -€3.0m
down €3.0m (-32.7%), from €9.1m to €6.1m
- Other debts -€2.0m
down €2.0m (-37.4%), from €5.2m to €3.3m
- Profit (loss) carried forward +€872,054
up €872,054 (+373.1%), from €233,743 to €1.1m
- Debts after one year -€347,253
down €347,253 (-6.8%), from €5.1m to €4.7m
- Financial income +€2.2m
up €2.2m (+27299.7%), from €8,001 to €2.2m
of which Financial income: +€2.2m
- Other operating charges +€624,349
up €624,349 (+989.1%), from €63,125 to €687,473
- Gross operating margin +€408,391
up €408,391 (+257.6%), from €158,565 to €566,956
- Financial charges +€65,640
up €65,640 (+9.1%), from €718,430 to €784,070
of which Non-recurring financial charges: +€131,594
- Depreciation -€61,306
down €61,306 (-11.9%), from €513,392 to €452,086
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,900,461 | €19,342,217 | -€4.6m | -19.1% |
| Fixed assets | 21/28 | €23,489,437 | €17,925,968 | -€5.6m | -23.7% |
| Tangible fixed assets | 22/27 | €11,242,830 | €8,261,012 | -€3.0m | -26.5% |
| Land and buildings | 22 | €8,483,780 | €6,864,234 | -€1.6m | -19.1% |
| Other tangible fixed assets | 26 | €2,759,050 | €1,396,777 | -€1.4m | -49.4% |
| Financial fixed assets | 28 | €12,246,607 | €9,664,956 | -€2.6m | -21.1% |
| Current assets | 29/58 | €411,024 | €1,416,249 | +€1.0m | +244.6% |
| Amounts receivable within one year | 40/41 | €230,297 | €1,283,153 | +€1.1m | +457.2% |
| Trade receivables | 40 | €4,762 | €817,064 | +€812,302 | +17057.5% |
| Other amounts receivable | 41 | €225,535 | €466,089 | +€240,554 | +106.7% |
| Cash at bank and in hand | 54/58 | €32,487 | €234 | -€32,254 | -99.3% |
| Deferred charges and accrued income | 490/1 | €148,240 | €132,862 | -€15,377 | -10.4% |
| Total equity and liabilities | 10/49 | €23,900,461 | €19,342,217 | -€4.6m | -19.1% |
| Equity | 10/15 | €3,130,152 | €3,965,533 | +€835,381 | +26.7% |
| Contributions | 10/11 | €724,000 | €724,000 | = | 0.0% |
| Capital | 10 | €724,000 | €724,000 | = | 0.0% |
| Issued capital | 100 | €724,000 | €724,000 | = | 0.0% |
| Reserves | 13 | €2,172,409 | €2,135,736 | -€36,672 | -1.7% |
| Non-distributable reserves | 130/1 | €72,400 | €72,400 | = | 0.0% |
| Legal reserve | 130 | €72,400 | €72,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,100,009 | €2,063,336 | -€36,672 | -1.7% |
| Profit (loss) carried forward | 14 | €233,743 | €1,105,797 | +€872,054 | +373.1% |
| Provisions and deferred taxes | 16 | €700,003 | €687,779 | -€12,224 | -1.7% |
| Deferred taxes | 168 | €700,003 | €687,779 | -€12,224 | -1.7% |
| Amounts payable | 17/49 | €20,070,307 | €14,688,905 | -€5.4m | -26.8% |
| Amounts payable after more than one year | 17 | €5,071,937 | €4,724,684 | -€347,253 | -6.8% |
| Financial debts | 170/4 | €5,071,937 | €4,724,684 | -€347,253 | -6.8% |
| Amounts payable within one year | 42/48 | €14,865,046 | €9,944,584 | -€4.9m | -33.1% |
| Current portion of amounts payable after more than one year | 42 | €357,692 | €363,384 | +€5,691 | +1.6% |
| Financial debts | 43 | €9,054,069 | €6,095,772 | -€3.0m | -32.7% |
| Credit institutions | 430/8 | €9,054,069 | €6,095,772 | -€3.0m | -32.7% |
| Trade debts | 44 | €224,548 | €209,045 | -€15,503 | -6.9% |
| Suppliers | 440/4 | €224,548 | €209,045 | -€15,503 | -6.9% |
| Taxes, remuneration and social security | 45 | - | €4,100 | +€4,100 | |
| Taxes | 450/3 | - | €4,100 | +€4,100 | |
| Other amounts payable | 47/48 | €5,228,737 | €3,272,284 | -€2.0m | -37.4% |
| Accrued charges and deferred income | 492/3 | €133,324 | €19,637 | -€113,687 | -85.3% |
| Non-recurring operating income | 76A | €0 | €25,506 | +€25,506 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €513,392 | €452,086 | -€61,306 | -11.9% |
| Other operating charges | 640/8 | €63,125 | €687,473 | +€624,349 | +989.1% |
| Non-recurring operating charges | 66A | €0 | €12,434 | +€12,434 | |
| Gross operating margin | 9900 | €158,565 | €566,956 | +€408,391 | +257.6% |
| Operating profit (loss) | 9901 | -€417,952 | -€585,038 | -€167,086 | -40.0% |
| Financial income | 75/76B | €8,001 | €2,192,265 | +€2.2m | +27299.7% |
| Recurring financial income | 75 | €8,001 | €2,192,265 | +€2.2m | +27299.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €718,430 | €784,070 | +€65,640 | +9.1% |
| Recurring financial charges | 65 | €718,430 | €652,476 | -€65,954 | -9.2% |
| Non-recurring financial charges | 66B | - | €131,594 | +€131,594 | |
| Profit (loss) for the period before taxes | 9903 | -€1,128,381 | €823,157 | +€2.0m | |
| Transfer from deferred taxes | 780 | €194,192 | €12,224 | -€181,968 | -93.7% |
| Profit (loss) for the period | 9904 | -€934,188 | €835,381 | +€1.8m | |
| Transfer from tax-exempt reserves | 789 | €582,577 | €36,672 | -€545,905 | -93.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€351,611 | €872,054 | +€1.2m |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.