TCOG Holding: 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.
What changed
TCOG Holding
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€101,083
2024 · €1.7m-€1.6m
Equity
€12.0m
2024 · €11.9m+€101,083
Cash
€8,773
2024 · €97,149-€88,376
Balance sheet total
€17.7m
2024 · €18.3m-€659,350
Largest movements
Assets
- Receivables within one year -€320,974
down €320,974 (-44.7%), from €718,090 to €397,116
of which Other amounts receivable: -€299,357
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
Equity and liabilities
- Debts after one year -€375,008
down €375,008 (-6.8%), from €5.6m to €5.2m
- Other debts -€360,277
down €360,277 (-99.5%), from €361,964 to €1,687
Income statement
- Financial income -€2.0m
down €2.0m (-82.4%), from €2.4m to €418,856
- Services and other goods -€525,914
down €525,914 (-29.1%), from €1.8m to €1.3m
- Turnover -€516,082
down €516,082 (-28.8%), from €1.8m to €1.3m
- Financial charges -€109,406
down €109,406 (-26.0%), from €420,362 to €310,956
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.
Result 2024
€1.7m
Turnover
-€516,082
Services and other goods
+€525,914
Other operating charges
+€620
Other operating items
+€282,240
Financial income
-€2.0m
Financial charges
+€109,406
Taxes
-€112
Result 2025
€101,083
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€33,096
Investment
+€250,000
Financing
-€371,472
Cash 2024
€97,149
From operations (derived)
+€33,096
Net result for the year
+€101,083
Receivables within one year
+€320,974
Smaller working-capital items
-€300
Tax, wage and social debts
-€28,384
Other debts
-€360,277
Investment (derived)
+€250,000
Current investments
+€250,000
Financing
-€371,472
Debts after one year
-€375,008
Current portion of long-term debt
+€3,535
Cash 2025
€8,773
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,344,239 | €17,684,889 | -€659,350 | -3.6% |
| Fixed assets | 21/28 | €17,279,000 | €17,279,000 | = | 0.0% |
| Financial fixed assets | 28 | €17,279,000 | €17,279,000 | = | 0.0% |
| Affiliated companies | 280/1 | €17,279,000 | €17,279,000 | = | 0.0% |
| Participating interests | 280 | €17,279,000 | €17,279,000 | = | 0.0% |
| Current assets | 29/58 | €1,065,239 | €405,889 | -€659,350 | -61.9% |
| Amounts receivable within one year | 40/41 | €718,090 | €397,116 | -€320,974 | -44.7% |
| Trade receivables | 40 | €118,090 | €96,474 | -€21,617 | -18.3% |
| Other amounts receivable | 41 | €600,000 | €300,643 | -€299,357 | -49.9% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Other investments | 51/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €97,149 | €8,773 | -€88,376 | -91.0% |
| Total equity and liabilities | 10/49 | €18,344,239 | €17,684,889 | -€659,350 | -3.6% |
| Equity | 10/15 | €11,908,741 | €12,009,824 | +€101,083 | +0.8% |
| Contributions | 10/11 | €10,250,000 | €10,250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,658,741 | €1,759,824 | +€101,083 | +6.1% |
| Amounts payable | 17/49 | €6,435,498 | €5,675,065 | -€760,433 | -11.8% |
| Amounts payable after more than one year | 17 | €5,550,458 | €5,175,451 | -€375,008 | -6.8% |
| Financial debts | 170/4 | €5,550,458 | €5,175,451 | -€375,008 | -6.8% |
| Subordinated loans | 170 | €1,387,058 | €1,421,425 | +€34,367 | +2.5% |
| Credit institutions | 173 | €4,163,400 | €3,754,026 | -€409,375 | -9.8% |
| Amounts payable within one year | 42/48 | €881,304 | €495,864 | -€385,440 | -43.7% |
| Current portion of amounts payable after more than one year | 42 | €405,839 | €409,375 | +€3,535 | +0.9% |
| Trade debts | 44 | €58,080 | €57,766 | -€314 | -0.5% |
| Suppliers | 440/4 | €58,080 | €57,766 | -€314 | -0.5% |
| Taxes, remuneration and social security | 45 | €55,421 | €27,037 | -€28,384 | -51.2% |
| Taxes | 450/3 | €55,421 | €27,037 | -€28,384 | -51.2% |
| Other amounts payable | 47/48 | €361,964 | €1,687 | -€360,277 | -99.5% |
| Accrued charges and deferred income | 492/3 | €3,736 | €3,750 | +€14 | +0.4% |
| Operating income | 70/76A | €1,790,795 | €1,274,713 | -€516,082 | -28.8% |
| Turnover | 70 | €1,790,795 | €1,274,713 | -€516,082 | -28.8% |
| Operating charges | 60/66A | €2,090,089 | €1,281,316 | -€808,774 | -38.7% |
| Services and other goods | 61 | €1,807,020 | €1,281,106 | -€525,914 | -29.1% |
| Other operating charges | 640/8 | €830 | €210 | -€620 | -74.7% |
| Non-recurring operating charges | 66A | €282,240 | - | -€282,240 | |
| Operating profit (loss) | 9901 | -€299,294 | -€6,603 | +€292,691 | +97.8% |
| Financial income | 75/76B | €2,378,500 | €418,856 | -€2.0m | -82.4% |
| Recurring financial income | 75 | €2,378,500 | €418,856 | -€2.0m | -82.4% |
| Income from financial fixed assets | 750 | €2,092,000 | €202,856 | -€1.9m | -90.3% |
| Income from current assets | 751 | €286,500 | €216,000 | -€70,500 | -24.6% |
| Financial charges | 65/66B | €420,362 | €310,956 | -€109,406 | -26.0% |
| Recurring financial charges | 65 | €420,362 | €310,956 | -€109,406 | -26.0% |
| Debt charges | 650 | €410,352 | €309,920 | -€100,432 | -24.5% |
| Other financial charges | 652/9 | €10,010 | €1,036 | -€8,974 | -89.7% |
| Profit (loss) for the period before taxes | 9903 | €1,658,844 | €101,297 | -€1.6m | -93.9% |
| Income taxes | 67/77 | €103 | €214 | +€112 | +109% |
| Taxes | 670/3 | €103 | €214 | +€112 | +109% |
| Profit (loss) for the period | 9904 | €1,658,741 | €101,083 | -€1.6m | -93.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,658,741 | €101,083 | -€1.6m | -93.9% |
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 24 October 2026 via checked.be.