T.V.E.: 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.E.
Largest movements
- Cash +€19,268
up €19,268 (+43.8%), from €44,039 to €63,307
mainly Net result for the year (+€27,086) and Receivables within one year (+€6,305)
- Receivables within one year -€6,305
down €6,305 (-32.2%), from €19,557 to €13,252
of which Trade receivables: -€6,685
- Current investments +€3,900
up €3,900 (+19.5%), from €20,000 to €23,900
- Tangible fixed assets -€1,141
down €1,141 (-25.3%), from €4,505 to €3,364
of which Furniture and vehicles: -€664
- Reserves +€27,086
up €27,086 (+38.1%), from €71,050 to €98,137
- Tax, wage and social debts -€11,446
down €11,446 (-99.7%), from €11,479 to €33
- Gross operating margin +€7,689
up €7,689 (+22.6%), from €33,973 to €41,662
- Taxes +€1,805
up €1,805 (+15.8%), from €11,391 to €13,197
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 | €89,252 | €105,036 | +€15,784 | +17.7% |
| Fixed assets | 21/28 | €4,555 | €3,414 | -€1,141 | -25.0% |
| Tangible fixed assets | 22/27 | €4,505 | €3,364 | -€1,141 | -25.3% |
| Land and buildings | 22 | €2,605 | €2,128 | -€477 | -18.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €1,900 | €1,235 | -€664 | -35.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €84,697 | €101,622 | +€16,925 | +20.0% |
| Amounts receivable within one year | 40/41 | €19,557 | €13,252 | -€6,305 | -32.2% |
| Trade receivables | 40 | €17,461 | €10,775 | -€6,685 | -38.3% |
| Other amounts receivable | 41 | €2,096 | €2,477 | +€380 | +18.1% |
| Current investments | 50/53 | €20,000 | €23,900 | +€3,900 | +19.5% |
| Cash at bank and in hand | 54/58 | €44,039 | €63,307 | +€19,268 | +43.8% |
| Deferred charges and accrued income | 490/1 | €1,101 | €1,164 | +€63 | +5.7% |
| Total equity and liabilities | 10/49 | €89,252 | €105,036 | +€15,784 | +17.7% |
| Equity | 10/15 | €77,250 | €104,337 | +€27,086 | +35.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,050 | €98,137 | +€27,086 | +38.1% |
| Distributable reserves | 133 | €71,050 | €98,137 | +€27,086 | +38.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €12,001 | €700 | -€11,302 | -94.2% |
| Amounts payable within one year | 42/48 | €12,001 | €700 | -€11,302 | -94.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €522 | €666 | +€144 | +27.6% |
| Suppliers | 440/4 | €522 | €666 | +€144 | +27.6% |
| Taxes, remuneration and social security | 45 | €11,479 | €33 | -€11,446 | -99.7% |
| Taxes | 450/3 | €11,479 | €33 | -€11,446 | -99.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,409 | €1,141 | -€268 | -19.0% |
| Other operating charges | 640/8 | €902 | €929 | +€28 | +3.1% |
| Gross operating margin | 9900 | €33,973 | €41,662 | +€7,689 | +22.6% |
| Operating profit (loss) | 9901 | €31,662 | €39,591 | +€7,929 | +25.0% |
| Financial income | 75/76B | €884 | €858 | -€26 | -2.9% |
| Recurring financial income | 75 | €884 | €858 | -€26 | -2.9% |
| Financial charges | 65/66B | €194 | €167 | -€27 | -13.8% |
| Recurring financial charges | 65 | €194 | €167 | -€27 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €32,353 | €40,283 | +€7,930 | +24.5% |
| Income taxes | 67/77 | €11,391 | €13,197 | +€1,805 | +15.8% |
| Profit (loss) for the period | 9904 | €20,961 | €27,086 | +€6,125 | +29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €20,961 | €27,086 | +€6,125 | +29.2% |
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 29 October 2026 via checked.be.