TC&V 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&V PROJECTS
Largest movements
- Current investments +€92,029
up €92,029 (+52.9%), from €174,009 to €266,038
- Cash +€44,397
up €44,397 (+25.9%), from €171,255 to €215,652
mainly Net result for the year (+€123,485) and Other debts (+€106,549)
- Tangible fixed assets -€8,019
down €8,019 (-45.5%), from €17,604 to €9,586
of which Furniture and vehicles: -€7,586
- Other debts +€106,549
up €106,549 (+363%), from €29,369 to €135,918
- Tax, wage and social debts +€17,852
up €17,852 (+136%), from €13,093 to €30,945
- Gross operating margin +€10,297
up €10,297 (+6.8%), from €151,318 to €161,614
- Financial income +€5,694
up €5,694 (+198%), from €2,873 to €8,567
- Taxes +€4,408
up €4,408 (+14.3%), from €30,811 to €35,219
- Financial charges -€2,217
down €2,217 (-45.0%), from €4,928 to €2,711
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 | €397,259 | €523,148 | +€125,888 | +31.7% |
| Fixed assets | 21/28 | €17,604 | €9,586 | -€8,019 | -45.5% |
| Tangible fixed assets | 22/27 | €17,604 | €9,586 | -€8,019 | -45.5% |
| Land and buildings | 22 | €4,063 | €3,631 | -€433 | -10.7% |
| Furniture and vehicles | 24 | €13,541 | €5,955 | -€7,586 | -56.0% |
| Current assets | 29/58 | €379,655 | €513,562 | +€133,907 | +35.3% |
| Amounts receivable within one year | 40/41 | €30,181 | €26,363 | -€3,817 | -12.6% |
| Trade receivables | 40 | €19,130 | €24,012 | +€4,882 | +25.5% |
| Other amounts receivable | 41 | €11,051 | €2,351 | -€8,700 | -78.7% |
| Current investments | 50/53 | €174,009 | €266,038 | +€92,029 | +52.9% |
| Cash at bank and in hand | 54/58 | €171,255 | €215,652 | +€44,397 | +25.9% |
| Deferred charges and accrued income | 490/1 | €4,211 | €5,509 | +€1,298 | +30.8% |
| Total equity and liabilities | 10/49 | €397,259 | €523,148 | +€125,888 | +31.7% |
| Equity | 10/15 | €352,107 | €352,107 | = | 0.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €327,107 | €327,107 | = | 0.0% |
| Distributable reserves | 133 | €327,107 | €327,107 | = | 0.0% |
| Amounts payable | 17/49 | €45,153 | €171,041 | +€125,888 | +279% |
| Amounts payable within one year | 42/48 | €42,703 | €168,407 | +€125,704 | +294% |
| Trade debts | 44 | €241 | €1,544 | +€1,302 | +539% |
| Suppliers | 440/4 | €241 | €1,544 | +€1,302 | +539% |
| Taxes, remuneration and social security | 45 | €13,093 | €30,945 | +€17,852 | +136% |
| Taxes | 450/3 | €13,093 | €30,945 | +€17,852 | +136% |
| Other amounts payable | 47/48 | €29,369 | €135,918 | +€106,549 | +363% |
| Accrued charges and deferred income | 492/3 | €2,449 | €2,634 | +€185 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,024 | €8,019 | -€5 | -0.1% |
| Other operating charges | 640/8 | €669 | €748 | +€79 | +11.8% |
| Gross operating margin | 9900 | €151,318 | €161,614 | +€10,297 | +6.8% |
| Operating profit (loss) | 9901 | €142,625 | €152,847 | +€10,223 | +7.2% |
| Financial income | 75/76B | €2,873 | €8,567 | +€5,694 | +198% |
| Recurring financial income | 75 | €2,873 | €8,567 | +€5,694 | +198% |
| Financial charges | 65/66B | €4,928 | €2,711 | -€2,217 | -45.0% |
| Recurring financial charges | 65 | €4,928 | €2,711 | -€2,217 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | €140,570 | €158,704 | +€18,134 | +12.9% |
| Income taxes | 67/77 | €30,811 | €35,219 | +€4,408 | +14.3% |
| Profit (loss) for the period | 9904 | €109,759 | €123,485 | +€13,726 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | €109,759 | €123,485 | +€13,726 | +12.5% |
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 16 October 2026 via checked.be.