TC & T: 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 & T
Largest movements
- Cash -€3.3m
down €3.3m (-71.5%), from €4.7m to €1.3m
mainly Other debts (-€2.0m) and Current investments (-€1.7m)
- Current investments +€1.7m
new in 2025: €1.7m
- Receivables within one year +€295,049
up €295,049 (+53.6%), from €550,439 to €845,488
of which Other amounts receivable: +€270,307
- Intangible fixed assets +€147,949
up €147,949 (+197.5%), from €74,902 to €222,851
- Other debts -€2.0m
down €2.0m (-100.0%), from €2.0m to €0
- Reserves +€1.2m
up €1.2m (+53.8%), from €2.2m to €3.5m
of which Distributable reserves: +€1.2m
- Trade debts -€417,221
down €417,221 (-41.2%), from €1.0m to €596,529
- Financial charges +€573,839
up €573,839 (+108.0%), from €531,155 to €1.1m
- Gross operating margin -€392,752
down €392,752 (-13.3%), from €3.0m to €2.6m
- Taxes -€301,018
down €301,018 (-43.8%), from €688,040 to €387,022
- Financial income -€93,518
down €93,518 (-12.7%), from €736,433 to €642,915
- Depreciation +€42,267
up €42,267 (+62.9%), from €67,161 to €109,428
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 | €5,360,815 | €4,159,601 | -€1.2m | -22.4% |
| Fixed assets | 21/28 | €99,861 | €236,609 | +€136,747 | +136.9% |
| Intangible fixed assets | 21 | €74,902 | €222,851 | +€147,949 | +197.5% |
| Tangible fixed assets | 22/27 | €15,613 | €4,412 | -€11,201 | -71.7% |
| Plant, machinery and equipment | 23 | €86 | €0 | -€86 | -100.0% |
| Furniture and vehicles | 24 | €15,527 | €4,412 | -€11,115 | -71.6% |
| Financial fixed assets | 28 | €9,346 | €9,346 | = | 0.0% |
| Current assets | 29/58 | €5,260,954 | €3,922,993 | -€1.3m | -25.4% |
| Amounts receivable within one year | 40/41 | €550,439 | €845,488 | +€295,049 | +53.6% |
| Trade receivables | 40 | €194,312 | €219,053 | +€24,742 | +12.7% |
| Other amounts receivable | 41 | €356,127 | €626,434 | +€270,307 | +75.9% |
| Current investments | 50/53 | - | €1,718,815 | +€1.7m | |
| Cash at bank and in hand | 54/58 | €4,677,094 | €1,332,083 | -€3.3m | -71.5% |
| Deferred charges and accrued income | 490/1 | €33,421 | €26,607 | -€6,814 | -20.4% |
| Total equity and liabilities | 10/49 | €5,360,815 | €4,159,601 | -€1.2m | -22.4% |
| Equity | 10/15 | €2,309,754 | €3,518,586 | +€1.2m | +52.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €2,248,254 | €3,457,086 | +€1.2m | +53.8% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €2,242,104 | €3,450,936 | +€1.2m | +53.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €3,051,062 | €641,016 | -€2.4m | -79.0% |
| Amounts payable within one year | 42/48 | €3,049,868 | €640,709 | -€2.4m | -79.0% |
| Trade debts | 44 | €1,013,750 | €596,529 | -€417,221 | -41.2% |
| Suppliers | 440/4 | €1,013,750 | €596,529 | -€417,221 | -41.2% |
| Taxes, remuneration and social security | 45 | €36,119 | €44,180 | +€8,062 | +22.3% |
| Remuneration and social security | 454/9 | €36,119 | €44,180 | +€8,062 | +22.3% |
| Other amounts payable | 47/48 | €2,000,000 | €0 | -€2.0m | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,193 | €307 | -€887 | -74.3% |
| Remuneration, social security and pensions | 62 | €355,528 | €380,800 | +€25,271 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,161 | €109,428 | +€42,267 | +62.9% |
| Other operating charges | 640/8 | €21,792 | €11,855 | -€9,937 | -45.6% |
| Gross operating margin | 9900 | €2,952,768 | €2,560,016 | -€392,752 | -13.3% |
| Operating profit (loss) | 9901 | €2,508,287 | €2,057,934 | -€450,354 | -18.0% |
| Financial income | 75/76B | €736,433 | €642,915 | -€93,518 | -12.7% |
| Recurring financial income | 75 | €736,433 | €642,915 | -€93,518 | -12.7% |
| Financial charges | 65/66B | €531,155 | €1,104,995 | +€573,839 | +108.0% |
| Recurring financial charges | 65 | €531,155 | €1,104,995 | +€573,839 | +108.0% |
| Profit (loss) for the period before taxes | 9903 | €2,713,565 | €1,595,854 | -€1.1m | -41.2% |
| Income taxes | 67/77 | €688,040 | €387,022 | -€301,018 | -43.8% |
| Profit (loss) for the period | 9904 | €2,025,524 | €1,208,832 | -€816,692 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,025,524 | €1,208,832 | -€816,692 | -40.3% |
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 8 October 2026 via checked.be.