TC Projects: 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 Projects
Largest movements
- Tangible fixed assets +€29,470
up €29,470 (+2,345%), from €1,257 to €30,727
of which Leasing and similar rights: +€29,723
- Receivables within one year +€3,575
up €3,575 (+47.3%), from €7,559 to €11,134
of which Other amounts receivable: +€8,123
- Formation expenses -€2,995
down €2,995 (-100%), from €2,995 to €0
- Cash +€1,354
up €1,354 (+1,602%), from €85 to €1,438
mainly Debts after one year (+€25,052) and Net result for the year (+€10,185)
- Deferred charges and accrued income +€706
up €706 (+89.5%), from €789 to €1,495
- Debts after one year +€25,052
new in 2025: €25,052
- Reserves +€10,185
up €10,185 (+29,068%), from €35 to €10,220
- Current portion of long-term debt +€4,510
new in 2025: €4,510
- Trade debts -€4,072
down €4,072 (-78.9%), from €5,161 to €1,090
- Other debts -€2,836
down €2,836 (-100%), from €2,836 to €0
- Gross operating margin +€16,001
up €16,001 (+1,707%), from €937 to €16,938
- Depreciation +€3,122
up €3,122 (+454%), from €687 to €3,809
- Taxes +€2,318
up €2,318 (+122,003%), from €2 to €2,320
- Financial charges +€453
up €453 (+901%), from €50 to €504
- Financial income +€235
new in 2025: €235
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 | €12,684 | €44,794 | +€32,110 | +253% |
| Formation expenses | 20 | €2,995 | €0 | -€2,995 | -100% |
| Fixed assets | 21/28 | €1,257 | €30,727 | +€29,470 | +2,345% |
| Tangible fixed assets | 22/27 | €1,257 | €30,727 | +€29,470 | +2,345% |
| Plant, machinery and equipment | 23 | €1,257 | €1,004 | -€252 | -20.1% |
| Leasing and similar rights | 25 | - | €29,723 | +€29,723 | |
| Current assets | 29/58 | €8,433 | €14,067 | +€5,634 | +66.8% |
| Amounts receivable within one year | 40/41 | €7,559 | €11,134 | +€3,575 | +47.3% |
| Trade receivables | 40 | €5,990 | €1,441 | -€4,549 | -75.9% |
| Other amounts receivable | 41 | €1,569 | €9,692 | +€8,123 | +518% |
| Cash at bank and in hand | 54/58 | €85 | €1,438 | +€1,354 | +1,602% |
| Deferred charges and accrued income | 490/1 | €789 | €1,495 | +€706 | +89.5% |
| Total equity and liabilities | 10/49 | €12,684 | €44,794 | +€32,110 | +253% |
| Equity | 10/15 | €1,035 | €11,220 | +€10,185 | +984% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €35 | €10,220 | +€10,185 | +29,068% |
| Distributable reserves | 133 | €35 | €10,220 | +€10,185 | +29,068% |
| Amounts payable | 17/49 | €11,649 | €33,574 | +€21,924 | +188% |
| Amounts payable after more than one year | 17 | - | €25,052 | +€25,052 | |
| Financial debts | 170/4 | - | €25,052 | +€25,052 | |
| Amounts payable within one year | 42/48 | €10,749 | €8,522 | -€2,228 | -20.7% |
| Current portion of amounts payable after more than one year | 42 | - | €4,510 | +€4,510 | |
| Trade debts | 44 | €5,161 | €1,090 | -€4,072 | -78.9% |
| Suppliers | 440/4 | €5,161 | €1,090 | -€4,072 | -78.9% |
| Taxes, remuneration and social security | 45 | €2,752 | €2,922 | +€170 | +6.2% |
| Taxes | 450/3 | €2 | €2,889 | +€2,888 | +151,977% |
| Remuneration and social security | 454/9 | €2,750 | €32 | -€2,718 | -98.8% |
| Other amounts payable | 47/48 | €2,836 | €0 | -€2,836 | -100% |
| Accrued charges and deferred income | 492/3 | €900 | €0 | -€900 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €687 | €3,809 | +€3,122 | +454% |
| Other operating charges | 640/8 | €163 | €356 | +€193 | +118% |
| Gross operating margin | 9900 | €937 | €16,938 | +€16,001 | +1,707% |
| Operating profit (loss) | 9901 | €87 | €12,774 | +€12,686 | +14,539% |
| Financial income | 75/76B | - | €235 | +€235 | |
| Recurring financial income | 75 | - | €235 | +€235 | |
| Financial charges | 65/66B | €50 | €504 | +€453 | +901% |
| Recurring financial charges | 65 | €50 | €504 | +€453 | +901% |
| Profit (loss) for the period before taxes | 9903 | €37 | €12,505 | +€12,468 | +33,753% |
| Income taxes | 67/77 | €2 | €2,320 | +€2,318 | +122,003% |
| Profit (loss) for the period | 9904 | €35 | €10,185 | +€10,150 | +28,968% |
| Profit (loss) for the period to be appropriated | 9905 | €35 | €10,185 | +€10,150 | +28,968% |
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 13 October 2026 via checked.be.