TCA MANAGEMENT: 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.
TCA MANAGEMENT
Largest movements
- Receivables within one year -€21,943
down €21,943 (-28.2%), from €77,794 to €55,852
of which Trade receivables: -€21,943
- Other debts +€562,660
up €562,660 (+3655.1%), from €15,394 to €578,054
- Reserves -€562,000
down €562,000 (-90.3%), from €622,355 to €60,355
of which Distributable reserves: -€562,000
- Trade debts -€11,156
no longer reported in 2025 (was €11,156)
- Gross operating margin +€8,709
up €8,709 (+30.3%), from €28,728 to €37,437
- Taxes +€2,307
up €2,307 (+28.0%), from €8,236 to €10,543
- Other operating charges -€1,731
down €1,731 (-75.4%), from €2,295 to €564
- Financial charges +€858
up €858 (+63.6%), from €1,348 to €2,206
- Financial income +€433
up €433 (+18.1%), from €2,389 to €2,822
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 | €727,192 | €711,176 | -€16,016 | -2.2% |
| Fixed assets | 21/28 | €1,961 | €4,825 | +€2,865 | +146.1% |
| Tangible fixed assets | 22/27 | €1,961 | €4,825 | +€2,865 | +146.1% |
| Plant, machinery and equipment | 23 | - | €4,037 | +€4,037 | |
| Furniture and vehicles | 24 | €1,961 | €788 | -€1,172 | -59.8% |
| Current assets | 29/58 | €725,231 | €706,351 | -€18,881 | -2.6% |
| Amounts receivable within one year | 40/41 | €77,794 | €55,852 | -€21,943 | -28.2% |
| Trade receivables | 40 | €22,748 | €805 | -€21,943 | -96.5% |
| Other amounts receivable | 41 | €55,046 | €55,046 | = | 0.0% |
| Current investments | 50/53 | €600,000 | €600,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €46,629 | €47,412 | +€783 | +1.7% |
| Deferred charges and accrued income | 490/1 | €808 | €3,087 | +€2,279 | +282.0% |
| Total equity and liabilities | 10/49 | €727,192 | €711,176 | -€16,016 | -2.2% |
| Equity | 10/15 | €641,570 | €79,844 | -€561,726 | -87.6% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €622,355 | €60,355 | -€562,000 | -90.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Other | 1319 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €620,500 | €58,500 | -€562,000 | -90.6% |
| Profit (loss) carried forward | 14 | €665 | €939 | +€274 | +41.1% |
| Amounts payable | 17/49 | €85,622 | €631,332 | +€545,710 | +637.4% |
| Amounts payable within one year | 42/48 | €85,622 | €631,279 | +€545,658 | +637.3% |
| Trade debts | 44 | €11,156 | - | -€11,156 | |
| Suppliers | 440/4 | €11,156 | - | -€11,156 | |
| Taxes, remuneration and social security | 45 | €59,072 | €53,226 | -€5,847 | -9.9% |
| Taxes | 450/3 | €55,572 | €49,726 | -€5,847 | -10.5% |
| Remuneration and social security | 454/9 | €3,500 | €3,500 | = | 0.0% |
| Other amounts payable | 47/48 | €15,394 | €578,054 | +€562,660 | +3655.1% |
| Accrued charges and deferred income | 492/3 | - | €53 | +€53 | |
| Non-recurring operating income | 76A | - | €3,620 | +€3,620 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,123 | €1,172 | +€49 | +4.4% |
| Other operating charges | 640/8 | €2,295 | €564 | -€1,731 | -75.4% |
| Gross operating margin | 9900 | €28,728 | €37,437 | +€8,709 | +30.3% |
| Operating profit (loss) | 9901 | €25,310 | €35,701 | +€10,391 | +41.1% |
| Financial income | 75/76B | €2,389 | €2,822 | +€433 | +18.1% |
| Recurring financial income | 75 | €2,389 | €2,822 | +€433 | +18.1% |
| Financial charges | 65/66B | €1,348 | €2,206 | +€858 | +63.6% |
| Recurring financial charges | 65 | €1,348 | €2,206 | +€858 | +63.6% |
| Profit (loss) for the period before taxes | 9903 | €26,351 | €36,317 | +€9,966 | +37.8% |
| Income taxes | 67/77 | €8,236 | €10,543 | +€2,307 | +28.0% |
| Profit (loss) for the period | 9904 | €18,115 | €25,774 | +€7,658 | +42.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,115 | €25,774 | +€7,658 | +42.3% |
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.