TB ELEC: 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.
TB ELEC
Largest movements
- Tangible fixed assets +€32,003
up €32,003 (+384%), from €8,328 to €40,331
- Receivables within one year +€9,746
up €9,746 (+36.6%), from €26,636 to €36,382
of which Other amounts receivable: +€6,636
- Cash -€7,072
down €7,072 (-16.0%), from €44,207 to €37,136
mainly Investment in fixed assets (net) (-€37,664) and Tax, wage and social debts (-€15,555)
- Stocks and contracts -€1,329
down €1,329 (-20.6%), from €6,459 to €5,129
- Debts after one year +€25,150
new in 2025: €25,150
- Tax, wage and social debts -€15,555
down €15,555 (-68.6%), from €22,684 to €7,128
of which Taxes: -€18,625
- Trade debts +€11,880
up €11,880 (+532%), from €2,234 to €14,114
- Current portion of long-term debt +€6,625
new in 2025: €6,625
- Profit (loss) carried forward +€5,309
new in 2025: €5,309
- Gross operating margin +€3,007
up €3,007 (+23.9%), from €12,592 to €15,600
- Financial charges +€1,901
up €1,901 (+237%), from €803 to €2,703
of which Non-recurring financial charges: +€1,983
- Staff costs +€1,809
new in 2025: €1,809
- Depreciation +€1,274
up €1,274 (+29.1%), from €4,386 to €5,661
- Taxes -€1,213
down €1,213 (-46.0%), from €2,636 to €1,423
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 | €85,630 | €119,039 | +€33,409 | +39.0% |
| Fixed assets | 21/28 | €8,328 | €40,331 | +€32,003 | +384% |
| Tangible fixed assets | 22/27 | €8,328 | €40,331 | +€32,003 | +384% |
| Furniture and vehicles | 24 | €8,328 | €40,331 | +€32,003 | +384% |
| Current assets | 29/58 | €77,302 | €78,708 | +€1,406 | +1.8% |
| Stocks and contracts in progress | 3 | €6,459 | €5,129 | -€1,329 | -20.6% |
| Stocks | 30/36 | €6,459 | €5,129 | -€1,329 | -20.6% |
| Amounts receivable within one year | 40/41 | €26,636 | €36,382 | +€9,746 | +36.6% |
| Trade receivables | 40 | €1,729 | €4,839 | +€3,109 | +180% |
| Other amounts receivable | 41 | €24,907 | €31,543 | +€6,636 | +26.6% |
| Cash at bank and in hand | 54/58 | €44,207 | €37,136 | -€7,072 | -16.0% |
| Deferred charges and accrued income | 490/1 | - | €62 | +€62 | |
| Total equity and liabilities | 10/49 | €85,630 | €119,039 | +€33,409 | +39.0% |
| Equity | 10/15 | €60,712 | €66,022 | +€5,309 | +8.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €58,712 | €58,712 | = | 0.0% |
| Distributable reserves | 133 | €58,712 | €58,712 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €5,309 | +€5,309 | |
| Amounts payable | 17/49 | €24,918 | €53,018 | +€28,100 | +113% |
| Amounts payable after more than one year | 17 | - | €25,150 | +€25,150 | |
| Financial debts | 170/4 | - | €25,150 | +€25,150 | |
| Amounts payable within one year | 42/48 | €24,918 | €27,867 | +€2,949 | +11.8% |
| Current portion of amounts payable after more than one year | 42 | - | €6,625 | +€6,625 | |
| Trade debts | 44 | €2,234 | €14,114 | +€11,880 | +532% |
| Suppliers | 440/4 | €2,234 | €14,114 | +€11,880 | +532% |
| Taxes, remuneration and social security | 45 | €22,684 | €7,128 | -€15,555 | -68.6% |
| Taxes | 450/3 | €22,684 | €4,059 | -€18,625 | -82.1% |
| Remuneration and social security | 454/9 | - | €3,069 | +€3,069 | |
| Remuneration, social security and pensions | 62 | - | €1,809 | +€1,809 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,386 | €5,661 | +€1,274 | +29.1% |
| Gross operating margin | 9900 | €12,592 | €15,600 | +€3,007 | +23.9% |
| Operating profit (loss) | 9901 | €8,206 | €8,130 | -€76 | -0.9% |
| Financial income | 75/76B | €1,753 | €1,306 | -€447 | -25.5% |
| Recurring financial income | 75 | €1,753 | €1,306 | -€447 | -25.5% |
| Financial charges | 65/66B | €803 | €2,703 | +€1,901 | +237% |
| Recurring financial charges | 65 | €803 | €720 | -€83 | -10.3% |
| Non-recurring financial charges | 66B | - | €1,983 | +€1,983 | |
| Profit (loss) for the period before taxes | 9903 | €9,157 | €6,732 | -€2,424 | -26.5% |
| Income taxes | 67/77 | €2,636 | €1,423 | -€1,213 | -46.0% |
| Profit (loss) for the period | 9904 | €6,520 | €5,309 | -€1,211 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,520 | €5,309 | -€1,211 | -18.6% |
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 17 October 2026 via checked.be.