TC Advisory: 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.
TC Advisory
Largest movements
- Receivables within one year +€11,277
up €11,277 (+75.9%), from €14,855 to €26,133
of which Other amounts receivable: +€9,851
- Cash +€9,861
up €9,861 (+8.6%), from €114,719 to €124,581
mainly Other debts (+€114,590) and Net result for the year (+€34,129)
- Tangible fixed assets -€6,992
down €6,992 (-33.4%), from €20,920 to €13,927
of which Furniture and vehicles: -€5,478
- Other debts +€114,590
new in 2025: €114,590
- Profit (loss) carried forward -€102,685
no longer reported in 2025 (was €102,685)
- Debts after one year -€10,412
down €10,412 (-79.9%), from €13,034 to €2,622
- Short-term financial debts +€6,730
new in 2025: €6,730
- Tax, wage and social debts +€4,723
up €4,723 (+22.4%), from €21,040 to €25,763
- Gross operating margin -€51,770
down €51,770 (-49.8%), from €103,940 to €52,171
- Depreciation -€13,435
down €13,435 (-65.8%), from €20,427 to €6,992
- Taxes -€7,385
down €7,385 (-43.6%), from €16,934 to €9,549
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 | €151,105 | €165,157 | +€14,051 | +9.3% |
| Fixed assets | 21/28 | €20,920 | €13,927 | -€6,992 | -33.4% |
| Tangible fixed assets | 22/27 | €20,920 | €13,927 | -€6,992 | -33.4% |
| Furniture and vehicles | 24 | €7,467 | €1,989 | -€5,478 | -73.4% |
| Other tangible fixed assets | 26 | €13,453 | €11,939 | -€1,514 | -11.3% |
| Current assets | 29/58 | €130,186 | €151,230 | +€21,044 | +16.2% |
| Amounts receivable within one year | 40/41 | €14,855 | €26,133 | +€11,277 | +75.9% |
| Trade receivables | 40 | €14,255 | €15,682 | +€1,426 | +10.0% |
| Other amounts receivable | 41 | €600 | €10,451 | +€9,851 | +1,642% |
| Cash at bank and in hand | 54/58 | €114,719 | €124,581 | +€9,861 | +8.6% |
| Deferred charges and accrued income | 490/1 | €611 | €516 | -€95 | -15.5% |
| Total equity and liabilities | 10/49 | €151,105 | €165,157 | +€14,051 | +9.3% |
| Equity | 10/15 | €105,685 | €3,000 | -€102,685 | -97.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,685 | - | -€102,685 | |
| Amounts payable | 17/49 | €45,421 | €162,157 | +€116,736 | +257% |
| Amounts payable after more than one year | 17 | €13,034 | €2,622 | -€10,412 | -79.9% |
| Financial debts | 170/4 | €13,034 | €2,622 | -€10,412 | -79.9% |
| Amounts payable within one year | 42/48 | €32,387 | €159,534 | +€127,148 | +393% |
| Current portion of amounts payable after more than one year | 42 | €10,289 | €10,412 | +€122 | +1.2% |
| Financial debts | 43 | - | €6,730 | +€6,730 | |
| Other loans | 439 | - | €6,730 | +€6,730 | |
| Trade debts | 44 | €1,057 | €2,038 | +€981 | +92.8% |
| Suppliers | 440/4 | €1,057 | €2,038 | +€981 | +92.8% |
| Taxes, remuneration and social security | 45 | €21,040 | €25,763 | +€4,723 | +22.4% |
| Taxes | 450/3 | €21,040 | €25,763 | +€4,723 | +22.4% |
| Other amounts payable | 47/48 | - | €114,590 | +€114,590 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,427 | €6,992 | -€13,435 | -65.8% |
| Other operating charges | 640/8 | €572 | €934 | +€362 | +63.3% |
| Gross operating margin | 9900 | €103,940 | €52,171 | -€51,770 | -49.8% |
| Operating profit (loss) | 9901 | €82,941 | €44,245 | -€38,697 | -46.7% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €433 | €567 | +€134 | +30.9% |
| Recurring financial charges | 65 | €433 | €567 | +€134 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €82,508 | €43,678 | -€38,831 | -47.1% |
| Income taxes | 67/77 | €16,934 | €9,549 | -€7,385 | -43.6% |
| Profit (loss) for the period | 9904 | €65,574 | €34,129 | -€31,445 | -48.0% |
| Profit (loss) for the period to be appropriated | 9905 | €65,574 | €34,129 | -€31,445 | -48.0% |
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 15 October 2026 via checked.be.