TBE Advisory Services: 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.
TBE Advisory Services
Largest movements
- Tangible fixed assets +€162,187
up €162,187 (+572.3%), from €28,340 to €190,527
of which Land and buildings: +€163,301
- Current investments -€71,469
down €71,469 (-23.9%), from €299,415 to €227,946
- Receivables after one year +€63,744
up €63,744 (+11.7%), from €543,147 to €606,891
of which Trade receivables: +€606,891
- Cash +€37,067
up €37,067 (+109.4%), from €33,875 to €70,942
mainly Net result for the year (+€185,453) and Provisions (+€78,822)
- Reserves +€177,207
up €177,207 (+21.3%), from €833,313 to €1.0m
- Provisions +€78,822
new in 2025: €78,822
- Accrued charges and deferred income -€48,322
no longer reported in 2025 (was €48,322)
- Debts after one year +€40,673
new in 2025: €40,673
- Other debts -€35,294
down €35,294 (-100.0%), from €35,294 to €0
- Provisions +€34,335
new in 2025: €34,335
- Gross operating margin -€31,299
down €31,299 (-10.1%), from €310,080 to €278,781
- Other operating charges +€18,752
up €18,752 (+1579.0%), from €1,188 to €19,940
- Taxes -€9,171
down €9,171 (-11.6%), from €78,874 to €69,703
- Financial income +€6,299
up €6,299 (+18.6%), from €33,863 to €40,162
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 | €975,128 | €1,166,452 | +€191,325 | +19.6% |
| Fixed assets | 21/28 | €28,340 | €190,527 | +€162,187 | +572.3% |
| Tangible fixed assets | 22/27 | €28,340 | €190,527 | +€162,187 | +572.3% |
| Land and buildings | 22 | - | €163,301 | +€163,301 | |
| Plant, machinery and equipment | 23 | €5,231 | €3,286 | -€1,945 | -37.2% |
| Furniture and vehicles | 24 | - | €4,480 | +€4,480 | |
| Other tangible fixed assets | 26 | €23,108 | €19,460 | -€3,648 | -15.8% |
| Current assets | 29/58 | €946,788 | €975,925 | +€29,137 | +3.1% |
| Amounts receivable after more than one year | 29 | €543,147 | €606,891 | +€63,744 | +11.7% |
| Trade receivables | 290 | - | €606,891 | +€606,891 | |
| Other amounts receivable | 291 | €543,147 | - | -€543,147 | |
| Amounts receivable within one year | 40/41 | €41,397 | €38,159 | -€3,238 | -7.8% |
| Trade receivables | 40 | €15,034 | €15,462 | +€428 | +2.8% |
| Other amounts receivable | 41 | €26,363 | €22,697 | -€3,666 | -13.9% |
| Current investments | 50/53 | €299,415 | €227,946 | -€71,469 | -23.9% |
| Cash at bank and in hand | 54/58 | €33,875 | €70,942 | +€37,067 | +109.4% |
| Deferred charges and accrued income | 490/1 | €28,954 | €31,987 | +€3,033 | +10.5% |
| Total equity and liabilities | 10/49 | €975,128 | €1,166,452 | +€191,325 | +19.6% |
| Equity | 10/15 | €851,913 | €1,029,120 | +€177,207 | +20.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €833,313 | €1,010,520 | +€177,207 | +21.3% |
| Distributable reserves | 133 | €833,313 | €1,010,520 | +€177,207 | +21.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | - | €78,822 | +€78,822 | |
| Provisions for liabilities and charges | 160/5 | - | €78,822 | +€78,822 | |
| Environmental obligations | 163 | - | €78,822 | +€78,822 | |
| Amounts payable | 17/49 | €123,215 | €58,510 | -€64,705 | -52.5% |
| Amounts payable after more than one year | 17 | - | €40,673 | +€40,673 | |
| Financial debts | 170/4 | - | €40,673 | +€40,673 | |
| Amounts payable within one year | 42/48 | €74,893 | €17,837 | -€57,056 | -76.2% |
| Current portion of amounts payable after more than one year | 42 | - | €9,327 | +€9,327 | |
| Financial debts | 43 | €22,017 | €0 | -€22,017 | -100.0% |
| Credit institutions | 430/8 | €22,017 | €0 | -€22,017 | -100.0% |
| Trade debts | 44 | €3,407 | €872 | -€2,535 | -74.4% |
| Suppliers | 440/4 | €3,407 | €872 | -€2,535 | -74.4% |
| Taxes, remuneration and social security | 45 | €14,174 | €7,638 | -€6,536 | -46.1% |
| Taxes | 450/3 | €14,174 | €7,638 | -€6,536 | -46.1% |
| Other amounts payable | 47/48 | €35,294 | €0 | -€35,294 | -100.0% |
| Accrued charges and deferred income | 492/3 | €48,322 | - | -€48,322 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,985 | €6,068 | +€1,083 | +21.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €34,335 | +€34,335 | |
| Other operating charges | 640/8 | €1,188 | €19,940 | +€18,752 | +1579.0% |
| Gross operating margin | 9900 | €310,080 | €278,781 | -€31,299 | -10.1% |
| Operating profit (loss) | 9901 | €303,907 | €218,439 | -€85,469 | -28.1% |
| Financial income | 75/76B | €33,863 | €40,162 | +€6,299 | +18.6% |
| Recurring financial income | 75 | €33,863 | €40,162 | +€6,299 | +18.6% |
| Financial charges | 65/66B | €585 | €3,445 | +€2,860 | +488.8% |
| Recurring financial charges | 65 | €585 | €3,445 | +€2,860 | +488.8% |
| Profit (loss) for the period before taxes | 9903 | €337,185 | €255,156 | -€82,029 | -24.3% |
| Income taxes | 67/77 | €78,874 | €69,703 | -€9,171 | -11.6% |
| Profit (loss) for the period | 9904 | €258,311 | €185,453 | -€72,858 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €258,311 | €185,453 | -€72,858 | -28.2% |
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 9 October 2026 via checked.be.