T.V.P.: 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.P.
Largest movements
- Stocks and contracts -€11,317
down €11,317 (-10.0%), from €113,717 to €102,400
of which Contracts in progress: -€6,219
- Receivables within one year +€6,177
up €6,177 (+12.8%), from €48,161 to €54,337
of which Other amounts receivable: +€3,224
- Reserves +€9,650
up €9,650 (+10.2%), from €94,886 to €104,536
of which Distributable reserves: +€9,650
- Other debts -€5,735
down €5,735 (-3.3%), from €174,035 to €168,300
- Trade debts -€5,063
down €5,063 (-19.5%), from €25,990 to €20,928
- Current portion of long-term debt -€4,670
no longer reported in 2024 (was €4,670)
- Depreciation -€6,814
down €6,814 (-59.7%), from €11,408 to €4,594
- Gross operating margin +€2,143
up €2,143 (+10.9%), from €19,619 to €21,762
- Taxes +€1,687
up €1,687 (+134%), from €1,259 to €2,946
- Financial charges +€882
up €882 (+64.6%), from €1,367 to €2,249
- Other operating charges +€458
up €458 (+79.4%), from €576 to €1,034
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.
Derived cash bridge
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 | €312,807 | €306,670 | -€6,137 | -2.0% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €134,482 | €131,768 | -€2,714 | -2.0% |
| Tangible fixed assets | 22/27 | €134,482 | €131,768 | -€2,714 | -2.0% |
| Land and buildings | 22 | €131,276 | €130,011 | -€1,265 | -1.0% |
| Plant, machinery and equipment | 23 | €1,555 | €915 | -€640 | -41.2% |
| Furniture and vehicles | 24 | €1,651 | €843 | -€809 | -49.0% |
| Current assets | 29/58 | €178,325 | €174,902 | -€3,423 | -1.9% |
| Stocks and contracts in progress | 3 | €113,717 | €102,400 | -€11,317 | -10.0% |
| Stocks | 30/36 | €101,855 | €96,757 | -€5,098 | -5.0% |
| Contracts in progress | 37 | €11,862 | €5,643 | -€6,219 | -52.4% |
| Amounts receivable within one year | 40/41 | €48,161 | €54,337 | +€6,177 | +12.8% |
| Trade receivables | 40 | €45,857 | €48,809 | +€2,953 | +6.4% |
| Other amounts receivable | 41 | €2,304 | €5,528 | +€3,224 | +140% |
| Cash at bank and in hand | 54/58 | €16,448 | €18,165 | +€1,717 | +10.4% |
| Total equity and liabilities | 10/49 | €312,807 | €306,670 | -€6,137 | -2.0% |
| Equity | 10/15 | €101,785 | €111,472 | +€9,687 | +9.5% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €94,886 | €104,536 | +€9,650 | +10.2% |
| Tax-exempt reserves | 132 | €5,496 | €5,496 | = | 0.0% |
| Distributable reserves | 133 | €89,390 | €99,040 | +€9,650 | +10.8% |
| Profit (loss) carried forward | 14 | €499 | €536 | +€37 | +7.5% |
| Amounts payable | 17/49 | €211,022 | €195,198 | -€15,824 | -7.5% |
| Amounts payable within one year | 42/48 | €211,022 | €195,198 | -€15,824 | -7.5% |
| Current portion of amounts payable after more than one year | 42 | €4,670 | - | -€4,670 | |
| Trade debts | 44 | €25,990 | €20,928 | -€5,063 | -19.5% |
| Suppliers | 440/4 | €25,990 | €20,928 | -€5,063 | -19.5% |
| Taxes, remuneration and social security | 45 | €6,327 | €5,970 | -€357 | -5.6% |
| Taxes | 450/3 | €6,327 | €5,970 | -€357 | -5.6% |
| Other amounts payable | 47/48 | €174,035 | €168,300 | -€5,735 | -3.3% |
| Remuneration, social security and pensions | 62 | €1,691 | €1,430 | -€261 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,408 | €4,594 | -€6,814 | -59.7% |
| Other operating charges | 640/8 | €576 | €1,034 | +€458 | +79.4% |
| Gross operating margin | 9900 | €19,619 | €21,762 | +€2,143 | +10.9% |
| Operating profit (loss) | 9901 | €5,944 | €14,705 | +€8,760 | +147% |
| Financial income | 75/76B | €21 | €178 | +€157 | +757% |
| Recurring financial income | 75 | €21 | €178 | +€157 | +757% |
| Financial charges | 65/66B | €1,367 | €2,249 | +€882 | +64.6% |
| Recurring financial charges | 65 | €1,367 | €2,249 | +€882 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €4,598 | €12,633 | +€8,034 | +175% |
| Income taxes | 67/77 | €1,259 | €2,946 | +€1,687 | +134% |
| Profit (loss) for the period | 9904 | €3,339 | €9,687 | +€6,348 | +190% |
| Profit (loss) for the period to be appropriated | 9905 | €3,339 | €9,687 | +€6,348 | +190% |
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 15 October 2026 via checked.be.