TB Style: 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 Style
Largest movements
- Cash +€99,270
up €99,270 (+74.4%), from €133,384 to €232,654
mainly Net result for the year (+€173,850) and Deferred charges and accrued income (+€22,751)
- Receivables within one year +€42,944
up €42,944 (+16.0%), from €267,720 to €310,664
of which Trade receivables: +€54,787
- Stocks and contracts +€33,414
up €33,414 (+4.8%), from €691,669 to €725,083
- Deferred charges and accrued income -€22,751
down €22,751 (-29.1%), from €78,301 to €55,550
- Financial fixed assets -€16,500
down €16,500 (-57.3%), from €28,800 to €12,300
- Profit (loss) carried forward +€173,850
up €173,850 (+51.8%), from -€335,647 to -€161,797
- Trade debts -€52,819
down €52,819 (-5.5%), from €964,497 to €911,678
- Gross operating margin +€223,635
up €223,635 (+59.2%), from €377,981 to €601,616
- Depreciation -€19,692
down €19,692 (-63.4%), from €31,037 to €11,345
- Staff costs +€17,556
up €17,556 (+5.3%), from €330,012 to €347,568
- Other operating charges -€6,330
down €6,330 (-24.9%), from €25,392 to €19,062
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 | €1,231,688 | €1,359,381 | +€127,693 | +10.4% |
| Fixed assets | 21/28 | €60,614 | €35,430 | -€25,184 | -41.5% |
| Intangible fixed assets | 21 | €1,094 | €199 | -€895 | -81.8% |
| Tangible fixed assets | 22/27 | €30,720 | €22,931 | -€7,789 | -25.4% |
| Furniture and vehicles | 24 | €30,720 | €22,931 | -€7,789 | -25.4% |
| Financial fixed assets | 28 | €28,800 | €12,300 | -€16,500 | -57.3% |
| Current assets | 29/58 | €1,171,074 | €1,323,951 | +€152,877 | +13.1% |
| Stocks and contracts in progress | 3 | €691,669 | €725,083 | +€33,414 | +4.8% |
| Stocks | 30/36 | €691,669 | €725,083 | +€33,414 | +4.8% |
| Amounts receivable within one year | 40/41 | €267,720 | €310,664 | +€42,944 | +16.0% |
| Trade receivables | 40 | €205,242 | €260,029 | +€54,787 | +26.7% |
| Other amounts receivable | 41 | €62,478 | €50,635 | -€11,843 | -19.0% |
| Cash at bank and in hand | 54/58 | €133,384 | €232,654 | +€99,270 | +74.4% |
| Deferred charges and accrued income | 490/1 | €78,301 | €55,550 | -€22,751 | -29.1% |
| Total equity and liabilities | 10/49 | €1,231,688 | €1,359,381 | +€127,693 | +10.4% |
| Equity | 10/15 | -€313,647 | -€139,797 | +€173,850 | +55.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€335,647 | -€161,797 | +€173,850 | +51.8% |
| Amounts payable | 17/49 | €1,545,335 | €1,499,178 | -€46,157 | -3.0% |
| Amounts payable within one year | 42/48 | €1,496,681 | €1,453,636 | -€43,045 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €964,497 | €911,678 | -€52,819 | -5.5% |
| Suppliers | 440/4 | €964,497 | €911,678 | -€52,819 | -5.5% |
| Taxes, remuneration and social security | 45 | €32,184 | €41,958 | +€9,774 | +30.4% |
| Taxes | 450/3 | €5,720 | €5,189 | -€531 | -9.3% |
| Remuneration and social security | 454/9 | €26,464 | €36,769 | +€10,305 | +38.9% |
| Accrued charges and deferred income | 492/3 | €48,654 | €45,542 | -€3,112 | -6.4% |
| Remuneration, social security and pensions | 62 | €330,012 | €347,568 | +€17,556 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,037 | €11,345 | -€19,692 | -63.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,135 | +€5,135 | |
| Other operating charges | 640/8 | €25,392 | €19,062 | -€6,330 | -24.9% |
| Non-recurring operating charges | 66A | - | €118 | +€118 | |
| Gross operating margin | 9900 | €377,981 | €601,616 | +€223,635 | +59.2% |
| Operating profit (loss) | 9901 | -€8,460 | €218,389 | +€226,849 | |
| Financial income | 75/76B | €1,697 | €5,117 | +€3,420 | +202% |
| Recurring financial income | 75 | €1,697 | €5,117 | +€3,420 | +202% |
| Financial charges | 65/66B | €51,163 | €49,656 | -€1,507 | -2.9% |
| Recurring financial charges | 65 | €51,163 | €49,656 | -€1,507 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | -€57,926 | €173,850 | +€231,776 | |
| Income taxes | 67/77 | €360 | - | -€360 | |
| Profit (loss) for the period | 9904 | -€58,286 | €173,850 | +€232,136 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,286 | €173,850 | +€232,136 |
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 13 October 2026 via checked.be.