TD Finance: what changed
What changed
TD Finance
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€269,747
2024 · €280,943-€11,196
Equity
€84,303
2024 · €114,556-€30,253
Cash
€81,208
2024 · €84,564-€3,357
Balance sheet total
€533,048
2024 · €647,036-€113,988
Largest movements
Assets
- Current investments -€79,890
down €79,890 (-37.2%), from €214,884 to €134,994
- Deferred charges and accrued income -€14,119
down €14,119 (-48.5%), from €29,119 to €15,000
- Tangible fixed assets -€11,663
down €11,663 (-3.8%), from €303,413 to €291,750
of which Land and buildings: -€7,960
Equity and liabilities
- Other debts -€74,224
down €74,224 (-19.7%), from €375,951 to €301,727
- Profit (loss) carried forward -€30,253
down €30,253 (-32.2%), from €93,964 to €63,711
- Debts after one year -€10,691
down €10,691 (-7.5%), from €141,841 to €131,151
Income statement
- Financial income -€8,082
down €8,082 (-60.9%), from €13,272 to €5,190
of which Non-recurring financial income: -€4,656
- Taxes -€5,993
down €5,993 (-6.6%), from €90,307 to €84,314
- Gross operating margin -€5,325
down €5,325 (-1.4%), from €378,074 to €372,749
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€280,943
Gross operating margin
-€5,325
Depreciation
-€97
Other operating charges
+€131
Other operating items
-€1,653
Financial income
-€8,082
Financial charges
-€2,162
Taxes
+€5,993
Result 2025
€269,747
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€228,698
Investment
+€78,403
Financing
-€310,457
Cash 2024
€84,564
From operations (derived)
+€228,698
Net result for the year
+€269,747
Depreciation
+€13,150
Receivables within one year
+€4,960
Deferred charges and accrued income
+€14,119
Trade debts
-€942
Tax, wage and social debts
+€534
Other debts
-€74,224
Accrued charges and deferred income
+€1,353
Investment (derived)
+€78,403
Investment in fixed assets (net)
-€1,487
Current investments
+€79,890
Financing
-€310,457
Debts after one year
-€10,691
Current portion of long-term debt
+€233
Contributions, distributions and other
-€300,000
Cash 2025
€81,208
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €647,036 | €533,048 | -€113,988 | -17.6% |
| Fixed assets | 21/28 | €313,509 | €301,846 | -€11,663 | -3.7% |
| Tangible fixed assets | 22/27 | €303,413 | €291,750 | -€11,663 | -3.8% |
| Land and buildings | 22 | €278,359 | €270,399 | -€7,960 | -2.9% |
| Furniture and vehicles | 24 | €6,403 | €5,880 | -€524 | -8.2% |
| Other tangible fixed assets | 26 | €18,651 | €15,471 | -€3,180 | -17.0% |
| Financial fixed assets | 28 | €10,096 | €10,096 | = | 0.0% |
| Current assets | 29/58 | €333,527 | €231,202 | -€102,325 | -30.7% |
| Amounts receivable within one year | 40/41 | €4,960 | - | -€4,960 | |
| Other amounts receivable | 41 | €4,960 | - | -€4,960 | |
| Current investments | 50/53 | €214,884 | €134,994 | -€79,890 | -37.2% |
| Cash at bank and in hand | 54/58 | €84,564 | €81,208 | -€3,357 | -4.0% |
| Deferred charges and accrued income | 490/1 | €29,119 | €15,000 | -€14,119 | -48.5% |
| Total equity and liabilities | 10/49 | €647,036 | €533,048 | -€113,988 | -17.6% |
| Equity | 10/15 | €114,556 | €84,303 | -€30,253 | -26.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €132 | €132 | = | 0.0% |
| Tax-exempt reserves | 132 | €132 | €132 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,964 | €63,711 | -€30,253 | -32.2% |
| Amounts payable | 17/49 | €532,481 | €448,745 | -€83,736 | -15.7% |
| Amounts payable after more than one year | 17 | €141,841 | €131,151 | -€10,691 | -7.5% |
| Financial debts | 170/4 | €141,841 | €131,151 | -€10,691 | -7.5% |
| Amounts payable within one year | 42/48 | €390,392 | €315,994 | -€74,398 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €10,457 | €10,691 | +€233 | +2.2% |
| Trade debts | 44 | €3,984 | €3,042 | -€942 | -23.6% |
| Suppliers | 440/4 | €3,984 | €3,042 | -€942 | -23.6% |
| Taxes, remuneration and social security | 45 | - | €534 | +€534 | |
| Taxes | 450/3 | €0 | €534 | +€534 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €375,951 | €301,727 | -€74,224 | -19.7% |
| Accrued charges and deferred income | 492/3 | €247 | €1,600 | +€1,353 | +548% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,053 | €13,150 | +€97 | +0.7% |
| Other operating charges | 640/8 | €1,760 | €1,629 | -€131 | -7.4% |
| Non-recurring operating charges | 66A | - | €1,653 | +€1,653 | |
| Gross operating margin | 9900 | €378,074 | €372,749 | -€5,325 | -1.4% |
| Operating profit (loss) | 9901 | €363,261 | €356,316 | -€6,945 | -1.9% |
| Financial income | 75/76B | €13,272 | €5,190 | -€8,082 | -60.9% |
| Recurring financial income | 75 | €8,616 | €5,190 | -€3,427 | -39.8% |
| Non-recurring financial income | 76B | €4,656 | - | -€4,656 | |
| Financial charges | 65/66B | €5,283 | €7,445 | +€2,162 | +40.9% |
| Recurring financial charges | 65 | €5,283 | €7,445 | +€2,162 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | €371,251 | €354,061 | -€17,189 | -4.6% |
| Income taxes | 67/77 | €90,307 | €84,314 | -€5,993 | -6.6% |
| Profit (loss) for the period | 9904 | €280,943 | €269,747 | -€11,196 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €280,943 | €269,747 | -€11,196 | -4.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.