TCPC: 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.
TCPC
Largest movements
- Receivables within one year -€39,745
down €39,745 (-45.0%), from €88,278 to €48,533
of which Other amounts receivable: -€56,772
- Cash +€9,046
up €9,046 (+118%), from €7,690 to €16,736
mainly Receivables within one year (+€39,745) and Depreciation (+€5,865)
- Tangible fixed assets -€5,865
down €5,865 (-25.6%), from €22,950 to €17,086
of which Assets under construction and advance payments: -€2,948
- Deferred charges and accrued income +€2,657
up €2,657 (+129%), from €2,054 to €4,712
- Profit (loss) carried forward -€30,519
down €30,519 (-48.1%), from -€63,486 to -€94,005
- Trade debts -€2,288
down €2,288 (-5.7%), from €40,100 to €37,812
- Gross operating margin -€261,046
down €261,046 (-55.2%), from €472,693 to €211,647
- Staff costs +€56,741
up €56,741 (+45.0%), from €126,189 to €182,931
- Other operating charges -€11,760
down €11,760 (-18.5%), from €63,672 to €51,912
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 | €127,265 | €93,372 | -€33,894 | -26.6% |
| Fixed assets | 21/28 | €22,950 | €17,086 | -€5,865 | -25.6% |
| Tangible fixed assets | 22/27 | €22,950 | €17,086 | -€5,865 | -25.6% |
| Plant, machinery and equipment | 23 | €2,743 | €2,219 | -€524 | -19.1% |
| Furniture and vehicles | 24 | €2,523 | €881 | -€1,642 | -65.1% |
| Other tangible fixed assets | 26 | €3,452 | €2,701 | -€751 | -21.7% |
| Assets under construction and advance payments | 27 | €14,231 | €11,283 | -€2,948 | -20.7% |
| Current assets | 29/58 | €104,315 | €76,286 | -€28,029 | -26.9% |
| Stocks and contracts in progress | 3 | €6,293 | €6,306 | +€12 | +0.2% |
| Stocks | 30/36 | €6,293 | €6,306 | +€12 | +0.2% |
| Amounts receivable within one year | 40/41 | €88,278 | €48,533 | -€39,745 | -45.0% |
| Trade receivables | 40 | €4,903 | €21,930 | +€17,027 | +347% |
| Other amounts receivable | 41 | €83,375 | €26,603 | -€56,772 | -68.1% |
| Cash at bank and in hand | 54/58 | €7,690 | €16,736 | +€9,046 | +118% |
| Deferred charges and accrued income | 490/1 | €2,054 | €4,712 | +€2,657 | +129% |
| Total equity and liabilities | 10/49 | €127,265 | €93,372 | -€33,894 | -26.6% |
| Equity | 10/15 | -€43,486 | -€74,005 | -€30,519 | -70.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,486 | -€94,005 | -€30,519 | -48.1% |
| Amounts payable | 17/49 | €170,751 | €167,377 | -€3,375 | -2.0% |
| Amounts payable after more than one year | 17 | €88,400 | €88,400 | = | 0.0% |
| Financial debts | 170/4 | €88,400 | €88,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €82,351 | €78,977 | -€3,375 | -4.1% |
| Trade debts | 44 | €40,100 | €37,812 | -€2,288 | -5.7% |
| Suppliers | 440/4 | €40,100 | €37,812 | -€2,288 | -5.7% |
| Taxes, remuneration and social security | 45 | €41,474 | €40,203 | -€1,271 | -3.1% |
| Taxes | 450/3 | €4,940 | €1,910 | -€3,030 | -61.3% |
| Remuneration and social security | 454/9 | €36,534 | €38,293 | +€1,759 | +4.8% |
| Other amounts payable | 47/48 | €778 | €962 | +€184 | +23.7% |
| Non-recurring operating income | 76A | €274,927 | - | -€274,927 | |
| Remuneration, social security and pensions | 62 | €126,189 | €182,931 | +€56,741 | +45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,610 | €5,865 | -€745 | -11.3% |
| Other operating charges | 640/8 | €63,672 | €51,912 | -€11,760 | -18.5% |
| Gross operating margin | 9900 | €472,693 | €211,647 | -€261,046 | -55.2% |
| Operating profit (loss) | 9901 | €276,222 | -€29,059 | -€305,281 | |
| Financial income | 75/76B | €35 | €0 | -€35 | -100.0% |
| Recurring financial income | 75 | €35 | €0 | -€35 | -100.0% |
| Financial charges | 65/66B | €1,498 | €1,459 | -€39 | -2.6% |
| Recurring financial charges | 65 | €1,498 | €1,459 | -€39 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €274,759 | -€30,519 | -€305,278 | |
| Profit (loss) for the period | 9904 | €274,759 | -€30,519 | -€305,278 | |
| Profit (loss) for the period to be appropriated | 9905 | €274,759 | -€30,519 | -€305,278 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.