TB EXPRESS: what changed
Two fiscal 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 EXPRESS
Largest movements
- Receivables within one year +€15,807
up €15,807 (+29.0%), from €54,556 to €70,363
of which Trade receivables: +€13,768
- Tangible fixed assets -€9,828
down €9,828 (-33.4%), from €29,396 to €19,569
of which Leasing and similar rights: -€5,556
- Intangible fixed assets -€6,000
no longer reported in 2025 (was €6,000)
- Stocks and contracts +€5,620
up €5,620 (+257.4%), from €2,183 to €7,803
- Financial fixed assets +€2,550
up €2,550 (+27.9%), from €9,125 to €11,675
- Debts after one year +€22,155
up €22,155 (+24.6%), from €90,135 to €112,290
- Trade debts -€5,138
down €5,138 (-82.6%), from €6,219 to €1,081
- Current portion of long-term debt -€4,365
down €4,365 (-33.8%), from €12,916 to €8,551
- Tax, wage and social debts -€1,675
down €1,675 (-43.4%), from €3,860 to €2,184
of which Taxes: -€1,242
- Financial income +€37,565
up €37,565 (+8866.6%), from €424 to €37,989
of which Non-recurring financial income: +€37,988
- Gross operating margin -€34,426
down €34,426, from €27,635 to -€6,791
- Staff costs +€5,448
up €5,448 (+35.6%), from €15,303 to €20,751
- Depreciation -€1,204
down €1,204 (-17.5%), from €6,886 to €5,682
- Financial charges -€456
down €456 (-10.8%), from €4,239 to €3,783
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 | €103,757 | €114,514 | +€10,757 | +10.4% |
| Fixed assets | 21/28 | €44,521 | €31,244 | -€13,278 | -29.8% |
| Intangible fixed assets | 21 | €6,000 | - | -€6,000 | |
| Tangible fixed assets | 22/27 | €29,396 | €19,569 | -€9,828 | -33.4% |
| Furniture and vehicles | 24 | €6,012 | €1,741 | -€4,272 | -71.0% |
| Leasing and similar rights | 25 | €23,384 | €17,828 | -€5,556 | -23.8% |
| Financial fixed assets | 28 | €9,125 | €11,675 | +€2,550 | +27.9% |
| Current assets | 29/58 | €59,236 | €83,270 | +€24,034 | +40.6% |
| Stocks and contracts in progress | 3 | €2,183 | €7,803 | +€5,620 | +257.4% |
| Stocks | 30/36 | €2,183 | €7,803 | +€5,620 | +257.4% |
| Amounts receivable within one year | 40/41 | €54,556 | €70,363 | +€15,807 | +29.0% |
| Trade receivables | 40 | €53,962 | €67,730 | +€13,768 | +25.5% |
| Other amounts receivable | 41 | €594 | €2,633 | +€2,038 | +343.1% |
| Cash at bank and in hand | 54/58 | €2,401 | €4,845 | +€2,444 | +101.8% |
| Deferred charges and accrued income | 490/1 | €96 | €259 | +€163 | +170.4% |
| Total equity and liabilities | 10/49 | €103,757 | €114,514 | +€10,757 | +10.4% |
| Equity | 10/15 | -€12,648 | -€12,288 | +€360 | +2.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,108 | -€32,748 | +€360 | +1.1% |
| Amounts payable | 17/49 | €116,405 | €126,802 | +€10,397 | +8.9% |
| Amounts payable after more than one year | 17 | €90,135 | €112,290 | +€22,155 | +24.6% |
| Financial debts | 170/4 | €90,135 | €112,290 | +€22,155 | +24.6% |
| Amounts payable within one year | 42/48 | €25,387 | €14,308 | -€11,079 | -43.6% |
| Current portion of amounts payable after more than one year | 42 | €12,916 | €8,551 | -€4,365 | -33.8% |
| Trade debts | 44 | €6,219 | €1,081 | -€5,138 | -82.6% |
| Suppliers | 440/4 | €6,219 | €1,081 | -€5,138 | -82.6% |
| Taxes, remuneration and social security | 45 | €3,860 | €2,184 | -€1,675 | -43.4% |
| Taxes | 450/3 | €1,363 | €121 | -€1,242 | -91.1% |
| Remuneration and social security | 454/9 | €2,497 | €2,064 | -€433 | -17.3% |
| Other amounts payable | 47/48 | €2,393 | €2,492 | +€99 | +4.1% |
| Accrued charges and deferred income | 492/3 | €883 | €204 | -€679 | -76.9% |
| Remuneration, social security and pensions | 62 | €15,303 | €20,751 | +€5,448 | +35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,886 | €5,682 | -€1,204 | -17.5% |
| Other operating charges | 640/8 | €755 | €502 | -€253 | -33.5% |
| Non-recurring operating charges | 66A | €510 | - | -€510 | |
| Gross operating margin | 9900 | €27,635 | -€6,791 | -€34,426 | |
| Operating profit (loss) | 9901 | €4,181 | -€33,726 | -€37,907 | |
| Financial income | 75/76B | €424 | €37,989 | +€37,565 | +8866.6% |
| Recurring financial income | 75 | €424 | €1 | -€422 | -99.7% |
| Non-recurring financial income | 76B | - | €37,988 | +€37,988 | |
| Financial charges | 65/66B | €4,239 | €3,783 | -€456 | -10.8% |
| Recurring financial charges | 65 | €4,239 | €3,783 | -€456 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | €367 | €481 | +€114 | +31.1% |
| Income taxes | 67/77 | - | €121 | +€121 | |
| Profit (loss) for the period | 9904 | €367 | €360 | -€7 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €367 | €360 | -€7 | -1.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.