T-worx: 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-worx
Largest movements
- Receivables within one year +€45,422
up €45,422 (+927%), from €4,898 to €50,319
of which Trade receivables: +€32,074
- Cash -€31,423
down €31,423 (-84.8%), from €37,070 to €5,647
mainly Receivables within one year (-€45,422) and Tax, wage and social debts (-€9,585)
- Tangible fixed assets -€8,502
down €8,502 (-16.3%), from €52,090 to €43,588
of which Leasing and similar rights: -€7,350
- Profit (loss) carried forward +€15,639
up €15,639 (+50.2%), from €31,131 to €46,770
- Tax, wage and social debts -€9,585
down €9,585 (-70.7%), from €13,555 to €3,970
of which Taxes: -€8,780
- Advances received +€8,775
new in 2025: €8,775
- Other debts -€5,709
no longer reported in 2025 (was €5,709)
- Debts after one year -€4,124
down €4,124 (-15.9%), from €25,943 to €21,819
- Gross operating margin +€17,278
up €17,278 (+123%), from €14,025 to €31,303
- Taxes +€3,608
up €3,608 (+352%), from €1,025 to €4,633
- Financial income +€1,322
up €1,322 (+1,888,400%), from €0 to €1,322
- Depreciation -€591
down €591 (-5.9%), from €10,070 to €9,479
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 | €94,326 | €99,928 | +€5,602 | +5.9% |
| Fixed assets | 21/28 | €52,090 | €43,588 | -€8,502 | -16.3% |
| Tangible fixed assets | 22/27 | €52,090 | €43,588 | -€8,502 | -16.3% |
| Furniture and vehicles | 24 | €14,664 | €13,512 | -€1,152 | -7.9% |
| Leasing and similar rights | 25 | €37,426 | €30,076 | -€7,350 | -19.6% |
| Current assets | 29/58 | €42,236 | €56,341 | +€14,104 | +33.4% |
| Amounts receivable within one year | 40/41 | €4,898 | €50,319 | +€45,422 | +927% |
| Trade receivables | 40 | €3,923 | €35,996 | +€32,074 | +818% |
| Other amounts receivable | 41 | €975 | €14,323 | +€13,348 | +1,369% |
| Cash at bank and in hand | 54/58 | €37,070 | €5,647 | -€31,423 | -84.8% |
| Deferred charges and accrued income | 490/1 | €269 | €374 | +€105 | +39.0% |
| Total equity and liabilities | 10/49 | €94,326 | €99,928 | +€5,602 | +5.9% |
| Equity | 10/15 | €33,131 | €48,770 | +€15,639 | +47.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,131 | €46,770 | +€15,639 | +50.2% |
| Amounts payable | 17/49 | €61,195 | €51,158 | -€10,037 | -16.4% |
| Amounts payable after more than one year | 17 | €25,943 | €21,819 | -€4,124 | -15.9% |
| Financial debts | 170/4 | €25,943 | €21,819 | -€4,124 | -15.9% |
| Amounts payable within one year | 42/48 | €35,252 | €29,339 | -€5,914 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | €13,396 | €16,320 | +€2,924 | +21.8% |
| Trade debts | 44 | €2,592 | €274 | -€2,318 | -89.4% |
| Suppliers | 440/4 | €2,592 | €274 | -€2,318 | -89.4% |
| Advances received on contracts in progress | 46 | - | €8,775 | +€8,775 | |
| Taxes, remuneration and social security | 45 | €13,555 | €3,970 | -€9,585 | -70.7% |
| Taxes | 450/3 | €12,750 | €3,970 | -€8,780 | -68.9% |
| Remuneration and social security | 454/9 | €805 | - | -€805 | |
| Other amounts payable | 47/48 | €5,709 | - | -€5,709 | |
| Non-recurring operating income | 76A | - | €2,277 | +€2,277 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,070 | €9,479 | -€591 | -5.9% |
| Other operating charges | 640/8 | €554 | €718 | +€163 | +29.5% |
| Gross operating margin | 9900 | €14,025 | €31,303 | +€17,278 | +123% |
| Operating profit (loss) | 9901 | €3,401 | €21,107 | +€17,706 | +521% |
| Financial income | 75/76B | €0 | €1,322 | +€1,322 | +1,888,400% |
| Recurring financial income | 75 | €0 | €1,322 | +€1,322 | +1,888,400% |
| Financial charges | 65/66B | €2,141 | €2,157 | +€16 | +0.8% |
| Recurring financial charges | 65 | €2,141 | €2,157 | +€16 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €1,260 | €20,272 | +€19,011 | +1,508% |
| Income taxes | 67/77 | €1,025 | €4,633 | +€3,608 | +352% |
| Profit (loss) for the period | 9904 | €235 | €15,639 | +€15,404 | +6,547% |
| Profit (loss) for the period to be appropriated | 9905 | €235 | €15,639 | +€15,404 | +6,547% |
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.