TBA Projects: 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.
TBA Projects
Largest movements
- Tangible fixed assets -€11,660
down €11,660 (-30.2%), from €38,649 to €26,989
of which Furniture and vehicles: -€10,814
- Cash -€9,276
down €9,276 (-62.6%), from €14,811 to €5,535
mainly Net result for the year (-€16,235) and Other debts (-€7,070)
- Receivables within one year -€965
down €965 (-80.3%), from €1,202 to €237
of which Other amounts receivable: -€572
- Profit (loss) carried forward -€16,235
down €16,235 (-224.8%), from -€7,223 to -€23,457
- Other debts -€7,070
down €7,070 (-12.2%), from €57,731 to €50,661
- Tax, wage and social debts +€882
up €882 (+573.5%), from €154 to €1,035
- Trade debts +€620
up €620, from €0 to €620
- Gross operating margin -€9,231
down €9,231, from €5,732 to -€3,499
- Other operating charges -€599
down €599 (-41.7%), from €1,437 to €839
- Depreciation -€140
down €140 (-1.2%), from €11,800 to €11,660
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 | €54,662 | €32,990 | -€21,673 | -39.6% |
| Fixed assets | 21/28 | €38,649 | €26,989 | -€11,660 | -30.2% |
| Tangible fixed assets | 22/27 | €38,649 | €26,989 | -€11,660 | -30.2% |
| Land and buildings | 22 | - | €159 | +€159 | |
| Plant, machinery and equipment | 23 | €945 | €312 | -€633 | -67.0% |
| Furniture and vehicles | 24 | €37,332 | €26,518 | -€10,814 | -29.0% |
| Other tangible fixed assets | 26 | €373 | - | -€373 | |
| Current assets | 29/58 | €16,013 | €6,001 | -€10,013 | -62.5% |
| Amounts receivable within one year | 40/41 | €1,202 | €237 | -€965 | -80.3% |
| Trade receivables | 40 | €393 | - | -€393 | |
| Other amounts receivable | 41 | €809 | €237 | -€572 | -70.7% |
| Cash at bank and in hand | 54/58 | €14,811 | €5,535 | -€9,276 | -62.6% |
| Deferred charges and accrued income | 490/1 | €0 | €229 | +€229 | |
| Total equity and liabilities | 10/49 | €54,662 | €32,990 | -€21,673 | -39.6% |
| Equity | 10/15 | -€3,223 | -€19,457 | -€16,235 | -503.8% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€7,223 | -€23,457 | -€16,235 | -224.8% |
| Amounts payable | 17/49 | €57,885 | €52,447 | -€5,438 | -9.4% |
| Amounts payable within one year | 42/48 | €57,885 | €52,447 | -€5,438 | -9.4% |
| Financial debts | 43 | €0 | €131 | +€131 | |
| Credit institutions | 430/8 | €0 | €131 | +€131 | |
| Trade debts | 44 | €0 | €620 | +€620 | |
| Suppliers | 440/4 | €0 | €620 | +€620 | |
| Taxes, remuneration and social security | 45 | €154 | €1,035 | +€882 | +573.5% |
| Taxes | 450/3 | €154 | €1,035 | +€882 | +573.5% |
| Other amounts payable | 47/48 | €57,731 | €50,661 | -€7,070 | -12.2% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,800 | €11,660 | -€140 | -1.2% |
| Other operating charges | 640/8 | €1,437 | €839 | -€599 | -41.7% |
| Gross operating margin | 9900 | €5,732 | -€3,499 | -€9,231 | |
| Operating profit (loss) | 9901 | -€7,506 | -€15,998 | -€8,492 | -113.1% |
| Financial charges | 65/66B | €69 | €60 | -€9 | -12.6% |
| Recurring financial charges | 65 | €69 | €60 | -€9 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | -€7,575 | -€16,058 | -€8,483 | -112.0% |
| Income taxes | 67/77 | €154 | €177 | +€23 | +14.9% |
| Profit (loss) for the period | 9904 | -€7,729 | -€16,235 | -€8,506 | -110.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,729 | -€16,235 | -€8,506 | -110.1% |
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 8 October 2026 via checked.be.