TD Design: 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.
TD Design
Largest movements
- Tangible fixed assets -€41,520
down €41,520 (-17.8%), from €233,251 to €191,731
of which Furniture and vehicles: -€28,722
- Stocks and contracts +€11,597
up €11,597 (+161.8%), from €7,168 to €18,765
of which Contracts in progress: +€10,200
- Receivables within one year -€9,058
down €9,058 (-3.0%), from €305,976 to €296,918
of which Trade receivables: -€27,319
- Debts after one year -€20,438
down €20,438 (-24.3%), from €84,101 to €63,662
- Current portion of long-term debt -€8,593
down €8,593 (-29.6%), from €29,031 to €20,438
- Tax, wage and social debts -€7,655
down €7,655 (-14.8%), from €51,645 to €43,989
of which Taxes: -€5,578
- Gross operating margin -€91,973
down €91,973 (-43.4%), from €212,071 to €120,098
- Taxes -€26,071
down €26,071 (-85.7%), from €30,408 to €4,337
- Staff costs -€24,594
down €24,594 (-26.4%), from €93,258 to €68,664
- Depreciation +€3,031
up €3,031 (+11.1%), from €27,363 to €30,394
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 | €553,073 | €508,792 | -€44,281 | -8.0% |
| Fixed assets | 21/28 | €233,251 | €191,731 | -€41,520 | -17.8% |
| Tangible fixed assets | 22/27 | €233,251 | €191,731 | -€41,520 | -17.8% |
| Land and buildings | 22 | €153,426 | €142,161 | -€11,265 | -7.3% |
| Plant, machinery and equipment | 23 | €18,309 | €16,776 | -€1,533 | -8.4% |
| Furniture and vehicles | 24 | €61,516 | €32,794 | -€28,722 | -46.7% |
| Current assets | 29/58 | €319,821 | €317,061 | -€2,760 | -0.9% |
| Stocks and contracts in progress | 3 | €7,168 | €18,765 | +€11,597 | +161.8% |
| Stocks | 30/36 | €7,168 | €8,565 | +€1,397 | +19.5% |
| Contracts in progress | 37 | - | €10,200 | +€10,200 | |
| Amounts receivable within one year | 40/41 | €305,976 | €296,918 | -€9,058 | -3.0% |
| Trade receivables | 40 | €285,498 | €258,180 | -€27,319 | -9.6% |
| Other amounts receivable | 41 | €20,477 | €38,738 | +€18,261 | +89.2% |
| Cash at bank and in hand | 54/58 | €4,991 | €228 | -€4,763 | -95.4% |
| Deferred charges and accrued income | 490/1 | €1,687 | €1,150 | -€536 | -31.8% |
| Total equity and liabilities | 10/49 | €553,073 | €508,792 | -€44,281 | -8.0% |
| Equity | 10/15 | €294,379 | €294,565 | +€186 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €275,779 | €275,965 | +€186 | +0.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €273,919 | €274,105 | +€186 | +0.1% |
| Amounts payable | 17/49 | €258,694 | €214,227 | -€44,467 | -17.2% |
| Amounts payable after more than one year | 17 | €84,101 | €63,662 | -€20,438 | -24.3% |
| Financial debts | 170/4 | €84,101 | €63,662 | -€20,438 | -24.3% |
| Amounts payable within one year | 42/48 | €173,898 | €150,565 | -€23,333 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €29,031 | €20,438 | -€8,593 | -29.6% |
| Trade debts | 44 | €89,978 | €86,137 | -€3,841 | -4.3% |
| Suppliers | 440/4 | €89,978 | €86,137 | -€3,841 | -4.3% |
| Advances received on contracts in progress | 46 | €3,244 | - | -€3,244 | |
| Taxes, remuneration and social security | 45 | €51,645 | €43,989 | -€7,655 | -14.8% |
| Taxes | 450/3 | €42,602 | €37,024 | -€5,578 | -13.1% |
| Remuneration and social security | 454/9 | €9,042 | €6,965 | -€2,077 | -23.0% |
| Accrued charges and deferred income | 492/3 | €695 | - | -€695 | |
| Non-recurring operating income | 76A | €136 | - | -€136 | |
| Remuneration, social security and pensions | 62 | €93,258 | €68,664 | -€24,594 | -26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,363 | €30,394 | +€3,031 | +11.1% |
| Other operating charges | 640/8 | €5,416 | €5,790 | +€375 | +6.9% |
| Non-recurring operating charges | 66A | - | €6,769 | +€6,769 | |
| Gross operating margin | 9900 | €212,071 | €120,098 | -€91,973 | -43.4% |
| Operating profit (loss) | 9901 | €86,034 | €8,481 | -€77,553 | -90.1% |
| Financial income | 75/76B | - | €35 | +€35 | |
| Recurring financial income | 75 | - | €35 | +€35 | |
| Financial charges | 65/66B | €3,084 | €3,993 | +€909 | +29.5% |
| Recurring financial charges | 65 | €3,084 | €3,993 | +€909 | +29.5% |
| Profit (loss) for the period before taxes | 9903 | €82,950 | €4,523 | -€78,427 | -94.5% |
| Income taxes | 67/77 | €30,408 | €4,337 | -€26,071 | -85.7% |
| Profit (loss) for the period | 9904 | €52,542 | €186 | -€52,356 | -99.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,542 | €186 | -€52,356 | -99.6% |
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 5 October 2026 via checked.be.