TBT: 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.
TBT
Largest movements
- Receivables within one year +€22,774
up €22,774 (+305%), from €7,458 to €30,232
of which Trade receivables: +€25,809
- Tangible fixed assets +€7,295
up €7,295 (+99.5%), from €7,330 to €14,625
of which Furniture and vehicles: +€6,954
- Reserves +€19,578
up €19,578 (+115%), from €17,040 to €36,618
- Other debts +€9,311
up €9,311 (+1,002%), from €929 to €10,240
- Trade debts +€2,106
up €2,106 (+44.0%), from €4,784 to €6,889
- Tax, wage and social debts -€584
down €584 (-44.8%), from €1,304 to €720
of which Remuneration and social security: -€1,044
- Gross operating margin +€29,694
up €29,694 (+429%), from €6,924 to €36,618
- Taxes +€8,823
up €8,823 (+930%), from €948 to €9,771
- Depreciation +€3,106
up €3,106 (+107%), from €2,913 to €6,018
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 | €26,557 | €56,968 | +€30,411 | +115% |
| Fixed assets | 21/28 | €7,676 | €14,970 | +€7,295 | +95.0% |
| Tangible fixed assets | 22/27 | €7,330 | €14,625 | +€7,295 | +99.5% |
| Plant, machinery and equipment | 23 | €2,363 | €2,704 | +€341 | +14.4% |
| Furniture and vehicles | 24 | €4,967 | €11,921 | +€6,954 | +140% |
| Financial fixed assets | 28 | €345 | €345 | = | 0.0% |
| Current assets | 29/58 | €18,882 | €41,998 | +€23,116 | +122% |
| Stocks and contracts in progress | 3 | €1,000 | €1,200 | +€200 | +20.0% |
| Stocks | 30/36 | €1,000 | €1,200 | +€200 | +20.0% |
| Amounts receivable within one year | 40/41 | €7,458 | €30,232 | +€22,774 | +305% |
| Trade receivables | 40 | €2,779 | €28,588 | +€25,809 | +929% |
| Other amounts receivable | 41 | €4,679 | €1,644 | -€3,035 | -64.9% |
| Cash at bank and in hand | 54/58 | €10,325 | €10,444 | +€119 | +1.2% |
| Deferred charges and accrued income | 490/1 | €98 | €121 | +€23 | +23.4% |
| Total equity and liabilities | 10/49 | €26,557 | €56,968 | +€30,411 | +115% |
| Equity | 10/15 | €19,540 | €39,118 | +€19,578 | +100% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €17,040 | €36,618 | +€19,578 | +115% |
| Distributable reserves | 133 | €17,040 | €36,618 | +€19,578 | +115% |
| Amounts payable | 17/49 | €7,017 | €17,850 | +€10,832 | +154% |
| Amounts payable within one year | 42/48 | €7,017 | €17,850 | +€10,832 | +154% |
| Trade debts | 44 | €4,784 | €6,889 | +€2,106 | +44.0% |
| Suppliers | 440/4 | €4,784 | €6,889 | +€2,106 | +44.0% |
| Taxes, remuneration and social security | 45 | €1,304 | €720 | -€584 | -44.8% |
| Taxes | 450/3 | €260 | €720 | +€460 | +177% |
| Remuneration and social security | 454/9 | €1,044 | - | -€1,044 | |
| Other amounts payable | 47/48 | €929 | €10,240 | +€9,311 | +1,002% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,913 | €6,018 | +€3,106 | +107% |
| Other operating charges | 640/8 | €846 | €1,196 | +€349 | +41.3% |
| Gross operating margin | 9900 | €6,924 | €36,618 | +€29,694 | +429% |
| Operating profit (loss) | 9901 | €3,166 | €29,404 | +€26,239 | +829% |
| Financial income | 75/76B | €1 | €1 | +€0 | +49.1% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +49.1% |
| Financial charges | 65/66B | €67 | €56 | -€11 | -17.1% |
| Recurring financial charges | 65 | €67 | €56 | -€11 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €3,099 | €29,349 | +€26,250 | +847% |
| Income taxes | 67/77 | €948 | €9,771 | +€8,823 | +930% |
| Profit (loss) for the period | 9904 | €2,151 | €19,578 | +€17,428 | +810% |
| Profit (loss) for the period to be appropriated | 9905 | €2,151 | €19,578 | +€17,428 | +810% |
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 28 October 2026 via checked.be.