TCVDS: 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.
TCVDS
Largest movements
- Receivables within one year +€11,286
up €11,286 (+115.0%), from €9,816 to €21,103
of which Trade receivables: +€12,988
- Tangible fixed assets -€8,841
down €8,841 (-44.4%), from €19,932 to €11,090
- Cash +€6,813
up €6,813 (+69.6%), from €9,782 to €16,595
mainly Depreciation (+€9,228) and Trade debts (+€6,268)
- Deferred charges and accrued income -€500
no longer reported in 2025 (was €500)
- Trade debts +€6,268
up €6,268 (+151.7%), from €4,133 to €10,402
- Tax, wage and social debts +€5,668
up €5,668 (+52624.1%), from €11 to €5,678
- Profit (loss) carried forward +€5,489
up €5,489 (+34.9%), from €15,722 to €21,211
- Other debts -€5,355
no longer reported in 2025 (was €5,355)
- Debts after one year -€3,429
down €3,429 (-85.5%), from €4,012 to €583
- Gross operating margin +€7,759
up €7,759 (+61.1%), from €12,702 to €20,460
- Taxes +€1,398
up €1,398, from -€1 to €1,397
- Depreciation +€741
up €741 (+8.7%), from €8,487 to €9,228
- Staff costs -€569
down €569 (-58.7%), from €970 to €401
- Other operating charges -€545
down €545 (-19.4%), from €2,812 to €2,268
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 | €40,605 | €49,363 | +€8,758 | +21.6% |
| Fixed assets | 21/28 | €20,107 | €11,265 | -€8,841 | -44.0% |
| Tangible fixed assets | 22/27 | €19,932 | €11,090 | -€8,841 | -44.4% |
| Furniture and vehicles | 24 | €19,932 | €11,090 | -€8,841 | -44.4% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €20,498 | €38,097 | +€17,599 | +85.9% |
| Stocks and contracts in progress | 3 | €400 | €400 | = | 0.0% |
| Stocks | 30/36 | €400 | €400 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €9,816 | €21,103 | +€11,286 | +115.0% |
| Trade receivables | 40 | €7,816 | €20,805 | +€12,988 | +166.2% |
| Other amounts receivable | 41 | €2,000 | €298 | -€1,702 | -85.1% |
| Cash at bank and in hand | 54/58 | €9,782 | €16,595 | +€6,813 | +69.6% |
| Deferred charges and accrued income | 490/1 | €500 | - | -€500 | |
| Total equity and liabilities | 10/49 | €40,605 | €49,363 | +€8,758 | +21.6% |
| Equity | 10/15 | €23,782 | €29,271 | +€5,489 | +23.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,722 | €21,211 | +€5,489 | +34.9% |
| Amounts payable | 17/49 | €16,823 | €20,092 | +€3,268 | +19.4% |
| Amounts payable after more than one year | 17 | €4,012 | €583 | -€3,429 | -85.5% |
| Financial debts | 170/4 | €4,012 | €583 | -€3,429 | -85.5% |
| Amounts payable within one year | 42/48 | €12,812 | €19,509 | +€6,697 | +52.3% |
| Current portion of amounts payable after more than one year | 42 | €3,313 | €3,429 | +€116 | +3.5% |
| Trade debts | 44 | €4,133 | €10,402 | +€6,268 | +151.7% |
| Suppliers | 440/4 | €4,133 | €10,402 | +€6,268 | +151.7% |
| Taxes, remuneration and social security | 45 | €11 | €5,678 | +€5,668 | +52624.1% |
| Taxes | 450/3 | €11 | €5,678 | +€5,668 | +52624.1% |
| Other amounts payable | 47/48 | €5,355 | - | -€5,355 | |
| Remuneration, social security and pensions | 62 | €970 | €401 | -€569 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,487 | €9,228 | +€741 | +8.7% |
| Other operating charges | 640/8 | €2,812 | €2,268 | -€545 | -19.4% |
| Gross operating margin | 9900 | €12,702 | €20,460 | +€7,759 | +61.1% |
| Operating profit (loss) | 9901 | €432 | €8,564 | +€8,132 | +1882.4% |
| Financial income | 75/76B | €36 | €43 | +€6 | +17.9% |
| Recurring financial income | 75 | €36 | €43 | +€6 | +17.9% |
| Financial charges | 65/66B | €1,686 | €1,720 | +€34 | +2.0% |
| Recurring financial charges | 65 | €1,686 | €1,720 | +€34 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,218 | €6,886 | +€8,104 | |
| Income taxes | 67/77 | -€1 | €1,397 | +€1,398 | |
| Profit (loss) for the period | 9904 | -€1,217 | €5,489 | +€6,706 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,217 | €5,489 | +€6,706 |
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.