TBRO: 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.
TBRO
Largest movements
- Cash -€140,238
down €140,238 (-99.0%), from €141,694 to €1,457
mainly Contributions, distributions and other (-€168,181) and Investment in fixed assets (net) (-€44,520)
- Tangible fixed assets +€37,690
new in 2025: €37,690
- Receivables within one year +€12,611
up €12,611 (+120.3%), from €10,483 to €23,093
of which Trade receivables: +€12,611
- Reserves -€123,485
down €123,485 (-100.0%), from €123,485 to €0
- Other debts +€47,738
up €47,738 (+646.9%), from €7,380 to €55,118
- Tax, wage and social debts -€9,863
down €9,863 (-62.1%), from €15,869 to €6,007
- Contributions -€4,000
down €4,000 (-80.0%), from €5,000 to €1,000
- Depreciation +€6,831
new in 2025: €6,831
- Gross operating margin +€4,281
up €4,281 (+7.2%), from €59,576 to €63,856
- Taxes +€2,084
up €2,084 (+15.7%), from €13,292 to €15,376
- Financial income -€1,704
down €1,704 (-100.0%), from €1,704 to €0
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 | €153,088 | €63,181 | -€89,907 | -58.7% |
| Fixed assets | 21/28 | - | €37,690 | +€37,690 | |
| Tangible fixed assets | 22/27 | - | €37,690 | +€37,690 | |
| Furniture and vehicles | 24 | - | €37,690 | +€37,690 | |
| Current assets | 29/58 | €153,088 | €25,491 | -€127,597 | -83.3% |
| Amounts receivable within one year | 40/41 | €10,483 | €23,093 | +€12,611 | +120.3% |
| Trade receivables | 40 | €10,259 | €22,870 | +€12,611 | +122.9% |
| Other amounts receivable | 41 | €224 | €224 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €141,694 | €1,457 | -€140,238 | -99.0% |
| Deferred charges and accrued income | 490/1 | €911 | €941 | +€30 | +3.3% |
| Total equity and liabilities | 10/49 | €153,088 | €63,181 | -€89,907 | -58.7% |
| Equity | 10/15 | €128,485 | €1,000 | -€127,485 | -99.2% |
| Contributions | 10/11 | €5,000 | €1,000 | -€4,000 | -80.0% |
| Reserves | 13 | €123,485 | €0 | -€123,485 | -100.0% |
| Distributable reserves | 133 | €123,485 | €0 | -€123,485 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €24,602 | €62,181 | +€37,578 | +152.7% |
| Amounts payable within one year | 42/48 | €24,602 | €62,125 | +€37,523 | +152.5% |
| Trade debts | 44 | €1,353 | €1,000 | -€353 | -26.1% |
| Suppliers | 440/4 | €1,353 | €1,000 | -€353 | -26.1% |
| Taxes, remuneration and social security | 45 | €15,869 | €6,007 | -€9,863 | -62.1% |
| Taxes | 450/3 | €15,869 | €6,007 | -€9,863 | -62.1% |
| Other amounts payable | 47/48 | €7,380 | €55,118 | +€47,738 | +646.9% |
| Accrued charges and deferred income | 492/3 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,831 | +€6,831 | |
| Other operating charges | 640/8 | €698 | €665 | -€33 | -4.7% |
| Gross operating margin | 9900 | €59,576 | €63,856 | +€4,281 | +7.2% |
| Operating profit (loss) | 9901 | €58,878 | €56,360 | -€2,517 | -4.3% |
| Financial income | 75/76B | €1,704 | €0 | -€1,704 | -100.0% |
| Recurring financial income | 75 | €1,704 | €0 | -€1,704 | -100.0% |
| Financial charges | 65/66B | €458 | €288 | -€170 | -37.1% |
| Recurring financial charges | 65 | €458 | €288 | -€170 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | €60,124 | €56,072 | -€4,052 | -6.7% |
| Income taxes | 67/77 | €13,292 | €15,376 | +€2,084 | +15.7% |
| Profit (loss) for the period | 9904 | €46,832 | €40,696 | -€6,136 | -13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €46,832 | €40,696 | -€6,136 | -13.1% |
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 2 October 2026 via checked.be.