T.V.L.-Services: 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.
What changed
T.V.L.-Services
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€124,748
2024 · -€16,856-€107,892
Equity
€2.0m
2024 · €2.1m-€124,748
Cash
€16,002
2024 · €56,911-€40,909
Balance sheet total
€5.1m
2024 · €5.3m-€190,494
Largest movements
Assets
- Tangible fixed assets -€94,258
down €94,258 (-2.3%), from €4.0m to €3.9m
of which Land and buildings: -€132,618
Equity and liabilities
- Debts after one year -€138,707
down €138,707 (-5.4%), from €2.6m to €2.4m
- Reserves -€83,861
down €83,861 (-8.2%), from €1.0m to €938,115
of which Distributable reserves: -€43,050
Income statement
- Financial income -€138,321
down €138,321 (-99.3%), from €139,232 to €910
of which Non-recurring financial income: -€138,289
- Gross operating margin +€33,298
up €33,298 (+23.0%), from €144,854 to €178,152
- Depreciation +€13,604
up €13,604 (+6.7%), from €204,213 to €217,816
- Other operating charges -€6,457
down €6,457 (-25.7%), from €25,136 to €18,678
- Financial charges -€4,292
down €4,292 (-5.1%), from €84,051 to €79,759
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.
Result 2024
-€16,856
Gross operating margin
+€33,298
Depreciation
-€13,604
Other operating charges
+€6,457
Other operating items
-€1,000
Financial income
-€138,321
Financial charges
+€4,292
Taxes
+€985
Result 2025
-€124,748
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€207,032
Investment
-€122,559
Financing
-€125,382
Cash 2024
€56,911
From operations (derived)
+€207,032
Net result for the year
-€124,748
Depreciation
+€217,816
Receivables after one year
+€39,543
Stocks and contracts
-€8,000
Receivables within one year
+€22,357
Deferred charges and accrued income
+€428
Provisions
-€13,604
Trade debts
+€12,210
Tax, wage and social debts
+€2,693
Other debts
+€10,055
Accrued charges and deferred income
+€48,281
Investment (derived)
-€122,559
Investment in fixed assets (net)
-€122,559
Financing
-€125,382
Debts after one year
-€138,707
Current portion of long-term debt
+€13,325
Cash 2025
€16,002
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,287,046 | €5,096,552 | -€190,494 | -3.6% |
| Fixed assets | 21/28 | €4,033,328 | €3,938,071 | -€95,258 | -2.4% |
| Tangible fixed assets | 22/27 | €4,032,328 | €3,938,071 | -€94,258 | -2.3% |
| Land and buildings | 22 | €4,009,047 | €3,876,429 | -€132,618 | -3.3% |
| Plant, machinery and equipment | 23 | €16,175 | €16,863 | +€687 | +4.2% |
| Furniture and vehicles | 24 | €7,106 | €44,779 | +€37,674 | +530% |
| Financial fixed assets | 28 | €1,000 | - | -€1,000 | |
| Current assets | 29/58 | €1,253,718 | €1,158,482 | -€95,237 | -7.6% |
| Amounts receivable after more than one year | 29 | €1,041,220 | €1,001,676 | -€39,543 | -3.8% |
| Other amounts receivable | 291 | €1,041,220 | €1,001,676 | -€39,543 | -3.8% |
| Stocks and contracts in progress | 3 | €106,500 | €114,500 | +€8,000 | +7.5% |
| Stocks | 30/36 | €106,500 | €114,500 | +€8,000 | +7.5% |
| Amounts receivable within one year | 40/41 | €48,626 | €26,269 | -€22,357 | -46.0% |
| Trade receivables | 40 | €43,956 | €21,038 | -€22,917 | -52.1% |
| Other amounts receivable | 41 | €4,670 | €5,231 | +€561 | +12.0% |
| Cash at bank and in hand | 54/58 | €56,911 | €16,002 | -€40,909 | -71.9% |
| Deferred charges and accrued income | 490/1 | €462 | €34 | -€428 | -92.7% |
| Total equity and liabilities | 10/49 | €5,287,046 | €5,096,552 | -€190,494 | -3.6% |
| Equity | 10/15 | €2,117,976 | €1,993,227 | -€124,748 | -5.9% |
| Contributions | 10/11 | €1,096,000 | €1,096,000 | = | 0.0% |
| Reserves | 13 | €1,021,976 | €938,115 | -€83,861 | -8.2% |
| Tax-exempt reserves | 132 | €455,668 | €414,857 | -€40,811 | -9.0% |
| Distributable reserves | 133 | €566,308 | €523,258 | -€43,050 | -7.6% |
| Profit (loss) carried forward | 14 | - | -€40,887 | -€40,887 | |
| Provisions and deferred taxes | 16 | €151,889 | €138,286 | -€13,604 | -9.0% |
| Deferred taxes | 168 | €151,889 | €138,286 | -€13,604 | -9.0% |
| Amounts payable | 17/49 | €3,017,182 | €2,965,039 | -€52,143 | -1.7% |
| Amounts payable after more than one year | 17 | €2,581,086 | €2,442,380 | -€138,707 | -5.4% |
| Financial debts | 170/4 | €2,581,086 | €2,442,380 | -€138,707 | -5.4% |
| Amounts payable within one year | 42/48 | €204,703 | €242,986 | +€38,283 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €116,767 | €130,091 | +€13,325 | +11.4% |
| Trade debts | 44 | €18,650 | €30,861 | +€12,210 | +65.5% |
| Suppliers | 440/4 | €18,650 | €30,861 | +€12,210 | +65.5% |
| Taxes, remuneration and social security | 45 | €1,532 | €4,225 | +€2,693 | +176% |
| Taxes | 450/3 | €1,532 | €4,225 | +€2,693 | +176% |
| Other amounts payable | 47/48 | €67,754 | €77,809 | +€10,055 | +14.8% |
| Accrued charges and deferred income | 492/3 | €231,393 | €279,673 | +€48,281 | +20.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,213 | €217,816 | +€13,604 | +6.7% |
| Other operating charges | 640/8 | €25,136 | €18,678 | -€6,457 | -25.7% |
| Non-recurring operating charges | 66A | - | €1,000 | +€1,000 | |
| Gross operating margin | 9900 | €144,854 | €178,152 | +€33,298 | +23.0% |
| Operating profit (loss) | 9901 | -€84,495 | -€59,343 | +€25,152 | +29.8% |
| Financial income | 75/76B | €139,232 | €910 | -€138,321 | -99.3% |
| Recurring financial income | 75 | €576 | €544 | -€32 | -5.6% |
| Non-recurring financial income | 76B | €138,656 | €367 | -€138,289 | -99.7% |
| Financial charges | 65/66B | €84,051 | €79,759 | -€4,292 | -5.1% |
| Recurring financial charges | 65 | €84,051 | €79,759 | -€4,292 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | -€29,314 | -€138,191 | -€108,877 | -371% |
| Transfer from deferred taxes | 780 | €13,604 | €13,604 | = | 0.0% |
| Income taxes | 67/77 | €1,146 | €160 | -€985 | -86.0% |
| Profit (loss) for the period | 9904 | -€16,856 | -€124,748 | -€107,892 | -640% |
| Transfer from tax-exempt reserves | 789 | €40,811 | €40,811 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,955 | -€83,937 | -€107,892 |
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 30 October 2026 via checked.be.