T3 HOLDCO: 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.
T3 HOLDCO
Largest movements
- Cash +€235,711
up €235,711 (+287%), from €82,190 to €317,900
mainly Net result for the year (+€443,470) and Depreciation (+€143,074)
- Tangible fixed assets -€132,738
down €132,738 (-24.6%), from €538,705 to €405,967
- Receivables within one year +€68,453
up €68,453 (+172%), from €39,885 to €108,338
of which Trade receivables: +€61,782
- Financial fixed assets +€64,750
up €64,750 (+26.4%), from €245,250 to €310,000
- Current investments -€50,000
down €50,000 (-9.1%), from €550,000 to €500,000
- Reserves +€323,470
up €323,470 (+58.5%), from €552,723 to €876,193
- Trade debts -€90,585
down €90,585 (-47.6%), from €190,197 to €99,613
- Debts after one year -€44,597
down €44,597 (-23.0%), from €193,583 to €148,985
- Staff costs +€73,790
up €73,790 (+33.2%), from €222,124 to €295,915
- Gross operating margin +€33,843
up €33,843 (+3.4%), from €1.0m to €1.0m
- Taxes -€10,976
down €10,976 (-6.7%), from €164,966 to €153,990
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 | €1,482,637 | €1,657,591 | +€174,953 | +11.8% |
| Fixed assets | 21/28 | €795,012 | €724,741 | -€70,271 | -8.8% |
| Intangible fixed assets | 21 | €11,056 | €8,774 | -€2,283 | -20.6% |
| Tangible fixed assets | 22/27 | €538,705 | €405,967 | -€132,738 | -24.6% |
| Land and buildings | 22 | €300,646 | €244,707 | -€55,939 | -18.6% |
| Plant, machinery and equipment | 23 | €148,922 | €86,989 | -€61,933 | -41.6% |
| Furniture and vehicles | 24 | €89,137 | €74,270 | -€14,867 | -16.7% |
| Financial fixed assets | 28 | €245,250 | €310,000 | +€64,750 | +26.4% |
| Current assets | 29/58 | €687,626 | €932,850 | +€245,224 | +35.7% |
| Amounts receivable within one year | 40/41 | €39,885 | €108,338 | +€68,453 | +172% |
| Trade receivables | 40 | €37,773 | €99,555 | +€61,782 | +164% |
| Other amounts receivable | 41 | €2,112 | €8,783 | +€6,671 | +316% |
| Current investments | 50/53 | €550,000 | €500,000 | -€50,000 | -9.1% |
| Cash at bank and in hand | 54/58 | €82,190 | €317,900 | +€235,711 | +287% |
| Deferred charges and accrued income | 490/1 | €15,551 | €6,611 | -€8,940 | -57.5% |
| Total equity and liabilities | 10/49 | €1,482,637 | €1,657,591 | +€174,953 | +11.8% |
| Equity | 10/15 | €752,723 | €1,076,193 | +€323,470 | +43.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €552,723 | €876,193 | +€323,470 | +58.5% |
| Distributable reserves | 133 | €552,723 | €876,193 | +€323,470 | +58.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €729,914 | €581,397 | -€148,517 | -20.3% |
| Amounts payable after more than one year | 17 | €193,583 | €148,985 | -€44,597 | -23.0% |
| Financial debts | 170/4 | €193,583 | €148,985 | -€44,597 | -23.0% |
| Amounts payable within one year | 42/48 | €536,331 | €432,270 | -€104,061 | -19.4% |
| Current portion of amounts payable after more than one year | 42 | €44,010 | €44,597 | +€587 | +1.3% |
| Trade debts | 44 | €190,197 | €99,613 | -€90,585 | -47.6% |
| Suppliers | 440/4 | €190,197 | €99,613 | -€90,585 | -47.6% |
| Taxes, remuneration and social security | 45 | €49,020 | €39,187 | -€9,833 | -20.1% |
| Taxes | 450/3 | €11,529 | €5,399 | -€6,130 | -53.2% |
| Remuneration and social security | 454/9 | €37,491 | €33,788 | -€3,703 | -9.9% |
| Other amounts payable | 47/48 | €253,104 | €248,873 | -€4,231 | -1.7% |
| Accrued charges and deferred income | 492/3 | - | €142 | +€142 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €222,124 | €295,915 | +€73,790 | +33.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,001 | €143,074 | +€8,073 | +6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,064 | €0 | -€2,064 | -100% |
| Other operating charges | 640/8 | €10,070 | €6,519 | -€3,551 | -35.3% |
| Gross operating margin | 9900 | €1,008,060 | €1,041,902 | +€33,843 | +3.4% |
| Operating profit (loss) | 9901 | €638,801 | €596,394 | -€42,407 | -6.6% |
| Financial income | 75/76B | €11,231 | €12,682 | +€1,451 | +12.9% |
| Recurring financial income | 75 | €11,231 | €12,682 | +€1,451 | +12.9% |
| Financial charges | 65/66B | €13,593 | €11,616 | -€1,977 | -14.5% |
| Recurring financial charges | 65 | €13,593 | €11,616 | -€1,977 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €636,439 | €597,460 | -€38,979 | -6.1% |
| Income taxes | 67/77 | €164,966 | €153,990 | -€10,976 | -6.7% |
| Profit (loss) for the period | 9904 | €471,473 | €443,470 | -€28,003 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €471,473 | €443,470 | -€28,003 | -5.9% |
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 1 November 2026 via checked.be.