T2 Management: 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.
T2 Management
Largest movements
- Receivables within one year +€27,283
up €27,283 (+117.7%), from €23,174 to €50,457
of which Trade receivables: +€25,038
- Cash +€15,313
up €15,313 (+23.4%), from €65,457 to €80,770
mainly Net result for the year (+€51,202) and Depreciation (+€12,052)
- Tangible fixed assets -€12,052
down €12,052 (-32.1%), from €37,575 to €25,523
- Reserves +€36,202
up €36,202 (+55.8%), from €64,836 to €101,039
- Debts after one year -€12,380
down €12,380 (-45.1%), from €27,450 to €15,070
- Tax, wage and social debts +€6,639
up €6,639 (+35.4%), from €18,760 to €25,398
- Gross operating margin +€12,678
up €12,678 (+18.5%), from €68,345 to €81,023
- Taxes +€2,469
up €2,469 (+21.6%), from €11,440 to €13,909
- Staff costs +€1,485
new in 2025: €1,485
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.
Cash bridge derived
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 | €127,085 | €156,887 | +€29,802 | +23.5% |
| Fixed assets | 21/28 | €37,575 | €25,523 | -€12,052 | -32.1% |
| Tangible fixed assets | 22/27 | €37,575 | €25,523 | -€12,052 | -32.1% |
| Furniture and vehicles | 24 | €37,575 | €25,523 | -€12,052 | -32.1% |
| Current assets | 29/58 | €89,510 | €131,364 | +€41,854 | +46.8% |
| Amounts receivable within one year | 40/41 | €23,174 | €50,457 | +€27,283 | +117.7% |
| Trade receivables | 40 | €11,931 | €36,969 | +€25,038 | +209.9% |
| Other amounts receivable | 41 | €11,244 | €13,489 | +€2,245 | +20.0% |
| Cash at bank and in hand | 54/58 | €65,457 | €80,770 | +€15,313 | +23.4% |
| Deferred charges and accrued income | 490/1 | €879 | €137 | -€742 | -84.5% |
| Total equity and liabilities | 10/49 | €127,085 | €156,887 | +€29,802 | +23.5% |
| Equity | 10/15 | €67,836 | €104,039 | +€36,202 | +53.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €64,836 | €101,039 | +€36,202 | +55.8% |
| Distributable reserves | 133 | €64,836 | €101,039 | +€36,202 | +55.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €59,249 | €52,849 | -€6,400 | -10.8% |
| Amounts payable after more than one year | 17 | €27,450 | €15,070 | -€12,380 | -45.1% |
| Financial debts | 170/4 | €27,450 | €15,070 | -€12,380 | -45.1% |
| Amounts payable within one year | 42/48 | €31,798 | €37,778 | +€5,980 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €11,904 | €12,380 | +€476 | +4.0% |
| Trade debts | 44 | €1,135 | €0 | -€1,135 | -100.0% |
| Suppliers | 440/4 | €1,135 | €0 | -€1,135 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,760 | €25,398 | +€6,639 | +35.4% |
| Taxes | 450/3 | €18,760 | €25,398 | +€6,639 | +35.4% |
| Remuneration, social security and pensions | 62 | - | €1,485 | +€1,485 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,052 | €12,052 | = | 0.0% |
| Other operating charges | 640/8 | €1,139 | €1,397 | +€258 | +22.7% |
| Gross operating margin | 9900 | €68,345 | €81,023 | +€12,678 | +18.5% |
| Operating profit (loss) | 9901 | €55,154 | €66,089 | +€10,935 | +19.8% |
| Financial income | 75/76B | €77 | €631 | +€554 | +718.9% |
| Recurring financial income | 75 | €77 | €631 | +€554 | +718.9% |
| Financial charges | 65/66B | €2,053 | €1,609 | -€444 | -21.6% |
| Recurring financial charges | 65 | €2,053 | €1,609 | -€444 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €53,178 | €65,112 | +€11,933 | +22.4% |
| Income taxes | 67/77 | €11,440 | €13,909 | +€2,469 | +21.6% |
| Profit (loss) for the period | 9904 | €41,738 | €51,202 | +€9,465 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,738 | €51,202 | +€9,465 | +22.7% |
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 9 October 2026 via checked.be.