TC PARTNER: 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.
TC PARTNER
Largest movements
- Financial fixed assets -€4.1m
down €4.1m (-18.0%), from €22.7m to €18.6m
- Cash +€2.3m
up €2.3m (+1290.6%), from €178,675 to €2.5m
mainly Investment in fixed assets (net) (+€4.1m) and Other debts (+€2.7m)
- Current investments +€1.7m
up €1.7m (+233.1%), from €750,000 to €2.5m
- Other debts +€2.7m
up €2.7m (+782.8%), from €350,000 to €3.1m
- Reserves -€1.6m
down €1.6m (-69.5%), from €2.3m to €699,338
of which Distributable reserves: -€1.6m
- Profit (loss) carried forward -€1.4m
down €1.4m (-6.6%), from €21.5m to €20.1m
- Financial income +€2.6m
up €2.6m (+4796.2%), from €55,122 to €2.7m
of which Financial income: +€2.6m
- Financial charges +€2.5m
up €2.5m (+37645.7%), from €6,544 to €2.5m
of which Non-recurring financial charges: +€2.4m
- Gross operating margin -€17,057
down €17,057 (-4.4%), from €390,285 to €373,228
- Taxes +€14,362
up €14,362 (+11.0%), from €130,330 to €144,692
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 | €24,917,334 | €24,589,546 | -€327,789 | -1.3% |
| Fixed assets | 21/28 | €23,561,801 | €19,430,134 | -€4.1m | -17.5% |
| Tangible fixed assets | 22/27 | €826,723 | €797,944 | -€28,779 | -3.5% |
| Land and buildings | 22 | €825,477 | €797,944 | -€27,533 | -3.3% |
| Furniture and vehicles | 24 | €1,246 | €0 | -€1,246 | -100.0% |
| Financial fixed assets | 28 | €22,735,078 | €18,632,190 | -€4.1m | -18.0% |
| Current assets | 29/58 | €1,355,533 | €5,159,412 | +€3.8m | +280.6% |
| Amounts receivable within one year | 40/41 | €410,711 | €170,345 | -€240,366 | -58.5% |
| Trade receivables | 40 | €40,728 | €40,591 | -€138 | -0.3% |
| Other amounts receivable | 41 | €369,982 | €129,754 | -€240,228 | -64.9% |
| Current investments | 50/53 | €750,000 | €2,498,476 | +€1.7m | +233.1% |
| Cash at bank and in hand | 54/58 | €178,675 | €2,484,585 | +€2.3m | +1290.6% |
| Deferred charges and accrued income | 490/1 | €16,148 | €6,005 | -€10,142 | -62.8% |
| Total equity and liabilities | 10/49 | €24,917,334 | €24,589,546 | -€327,789 | -1.3% |
| Equity | 10/15 | €23,993,406 | €20,979,697 | -€3.0m | -12.6% |
| Contributions | 10/11 | €204,050 | €204,050 | = | 0.0% |
| Reserves | 13 | €2,289,355 | €699,338 | -€1.6m | -69.5% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €2,287,500 | €697,483 | -€1.6m | -69.5% |
| Profit (loss) carried forward | 14 | €21,500,001 | €20,076,308 | -€1.4m | -6.6% |
| Amounts payable | 17/49 | €923,928 | €3,609,849 | +€2.7m | +290.7% |
| Amounts payable after more than one year | 17 | €471,474 | €395,954 | -€75,520 | -16.0% |
| Financial debts | 170/4 | €471,474 | €395,954 | -€75,520 | -16.0% |
| Amounts payable within one year | 42/48 | €452,454 | €3,190,771 | +€2.7m | +605.2% |
| Current portion of amounts payable after more than one year | 42 | €74,759 | €75,520 | +€762 | +1.0% |
| Trade debts | 44 | €0 | €4,146 | +€4,146 | |
| Suppliers | 440/4 | €0 | €4,146 | +€4,146 | |
| Taxes, remuneration and social security | 45 | €27,696 | €21,410 | -€6,285 | -22.7% |
| Taxes | 450/3 | €27,696 | €21,410 | -€6,285 | -22.7% |
| Other amounts payable | 47/48 | €350,000 | €3,089,694 | +€2.7m | +782.8% |
| Accrued charges and deferred income | 492/3 | €0 | €23,125 | +€23,125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,322 | €28,779 | -€543 | -1.9% |
| Other operating charges | 640/8 | €5,083 | €5,024 | -€59 | -1.2% |
| Gross operating margin | 9900 | €390,285 | €373,228 | -€17,057 | -4.4% |
| Operating profit (loss) | 9901 | €355,880 | €339,425 | -€16,455 | -4.6% |
| Financial income | 75/76B | €55,122 | €2,698,888 | +€2.6m | +4796.2% |
| Recurring financial income | 75 | €55,122 | €2,690,719 | +€2.6m | +4781.4% |
| Non-recurring financial income | 76B | - | €8,168 | +€8,168 | |
| Financial charges | 65/66B | €6,544 | €2,470,138 | +€2.5m | +37645.7% |
| Recurring financial charges | 65 | €6,544 | €53,616 | +€47,071 | +719.3% |
| Non-recurring financial charges | 66B | - | €2,416,522 | +€2.4m | |
| Profit (loss) for the period before taxes | 9903 | €404,458 | €568,175 | +€163,717 | +40.5% |
| Income taxes | 67/77 | €130,330 | €144,692 | +€14,362 | +11.0% |
| Profit (loss) for the period | 9904 | €274,129 | €423,483 | +€149,355 | +54.5% |
| Profit (loss) for the period to be appropriated | 9905 | €274,129 | €423,483 | +€149,355 | +54.5% |
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 5 October 2026 via checked.be.