TCGEST: 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.
TCGEST
Largest movements
- Tangible fixed assets +€112,727
up €112,727 (+209.5%), from €53,804 to €166,531
of which Land and buildings: +€109,112
- Financial fixed assets -€3,000
no longer reported in 2025 (was €3,000)
- Receivables within one year +€2,423
up €2,423 (+29.8%), from €8,122 to €10,545
of which Other amounts receivable: +€1,706
- Debts after one year +€82,569
up €82,569 (+462.1%), from €17,870 to €100,438
- Other debts +€29,776
up €29,776 (+73.5%), from €40,515 to €70,291
- Accrued charges and deferred income -€7,075
down €7,075 (-58.7%), from €12,061 to €4,986
- Current portion of long-term debt +€5,997
up €5,997 (+125.5%), from €4,778 to €10,775
- Profit (loss) carried forward +€3,736
up €3,736 (+35.6%), from €10,488 to €14,224
- Gross operating margin +€8,384
up €8,384 (+51.9%), from €16,162 to €24,546
- Depreciation +€3,216
up €3,216 (+20.1%), from €15,970 to €19,186
- Financial charges +€342
up €342 (+43.8%), from €781 to €1,123
- Other operating charges -€261
down €261 (-31.4%), from €831 to €570
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 | €87,703 | €201,484 | +€113,781 | +129.7% |
| Fixed assets | 21/28 | €56,804 | €166,531 | +€109,727 | +193.2% |
| Tangible fixed assets | 22/27 | €53,804 | €166,531 | +€112,727 | +209.5% |
| Land and buildings | 22 | - | €109,112 | +€109,112 | |
| Plant, machinery and equipment | 23 | €25,476 | €36,728 | +€11,252 | +44.2% |
| Furniture and vehicles | 24 | €28,328 | €20,691 | -€7,636 | -27.0% |
| Financial fixed assets | 28 | €3,000 | - | -€3,000 | |
| Current assets | 29/58 | €30,899 | €34,953 | +€4,054 | +13.1% |
| Amounts receivable within one year | 40/41 | €8,122 | €10,545 | +€2,423 | +29.8% |
| Trade receivables | 40 | €8,086 | €8,803 | +€717 | +8.9% |
| Other amounts receivable | 41 | €36 | €1,741 | +€1,706 | +4802.1% |
| Cash at bank and in hand | 54/58 | €22,777 | €24,409 | +€1,631 | +7.2% |
| Total equity and liabilities | 10/49 | €87,703 | €201,484 | +€113,781 | +129.7% |
| Equity | 10/15 | €11,038 | €14,774 | +€3,736 | +33.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Outside capital | 11 | €500 | - | -€500 | |
| Other | 1109/19 | €500 | - | -€500 | |
| Reserves | 13 | €50 | €50 | = | 0.0% |
| Distributable reserves | 133 | €50 | €50 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,488 | €14,224 | +€3,736 | +35.6% |
| Amounts payable | 17/49 | €76,665 | €186,710 | +€110,045 | +143.5% |
| Amounts payable after more than one year | 17 | €17,870 | €100,438 | +€82,569 | +462.1% |
| Financial debts | 170/4 | €17,870 | €100,438 | +€82,569 | +462.1% |
| Amounts payable within one year | 42/48 | €46,734 | €81,285 | +€34,551 | +73.9% |
| Current portion of amounts payable after more than one year | 42 | €4,778 | €10,775 | +€5,997 | +125.5% |
| Trade debts | 44 | €31 | €125 | +€94 | +300.1% |
| Suppliers | 440/4 | €31 | €125 | +€94 | +300.1% |
| Taxes, remuneration and social security | 45 | €1,409 | €93 | -€1,316 | -93.4% |
| Taxes | 450/3 | €1,409 | €93 | -€1,316 | -93.4% |
| Other amounts payable | 47/48 | €40,515 | €70,291 | +€29,776 | +73.5% |
| Accrued charges and deferred income | 492/3 | €12,061 | €4,986 | -€7,075 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,970 | €19,186 | +€3,216 | +20.1% |
| Other operating charges | 640/8 | €831 | €570 | -€261 | -31.4% |
| Gross operating margin | 9900 | €16,162 | €24,546 | +€8,384 | +51.9% |
| Operating profit (loss) | 9901 | -€639 | €4,790 | +€5,429 | |
| Financial income | 75/76B | - | €162 | +€162 | |
| Recurring financial income | 75 | - | €162 | +€162 | |
| Financial charges | 65/66B | €781 | €1,123 | +€342 | +43.8% |
| Recurring financial charges | 65 | €781 | €1,123 | +€342 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,420 | €3,830 | +€5,250 | |
| Income taxes | 67/77 | - | €93 | +€93 | |
| Profit (loss) for the period | 9904 | -€1,420 | €3,736 | +€5,157 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,420 | €3,736 | +€5,157 |
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 1 October 2026 via checked.be.