TD-LIGHTING: 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.
TD-LIGHTING
Largest movements
- Cash -€49,167
down €49,167 (-17.5%), from €280,429 to €231,262
mainly Trade debts (-€73,258) and Debts after one year (-€52,948)
- Tangible fixed assets -€48,032
down €48,032 (-5.2%), from €923,231 to €875,199
of which Land and buildings: -€57,687
- Receivables within one year -€43,366
down €43,366 (-37.5%), from €115,497 to €72,131
of which Trade receivables: -€43,391
- Trade debts -€73,258
down €73,258 (-62.9%), from €116,411 to €43,153
- Debts after one year -€52,948
down €52,948 (-8.5%), from €620,182 to €567,234
- Depreciation -€46,331
down €46,331 (-39.0%), from €118,729 to €72,398
- Staff costs +€12,050
up €12,050 (+17.8%), from €67,719 to €79,769
- Financial charges +€4,857
up €4,857 (+20.5%), from €23,738 to €28,595
of which Financial charges: +€6,415
- Gross operating margin +€3,504
up €3,504 (+1.7%), from €205,212 to €208,716
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 | €1,555,327 | €1,425,612 | -€129,715 | -8.3% |
| Fixed assets | 21/28 | €928,631 | €880,599 | -€48,032 | -5.2% |
| Tangible fixed assets | 22/27 | €923,231 | €875,199 | -€48,032 | -5.2% |
| Land and buildings | 22 | €923,231 | €865,544 | -€57,687 | -6.2% |
| Furniture and vehicles | 24 | - | €9,655 | +€9,655 | |
| Financial fixed assets | 28 | €5,400 | €5,400 | = | 0.0% |
| Current assets | 29/58 | €626,696 | €545,013 | -€81,683 | -13.0% |
| Stocks and contracts in progress | 3 | €228,492 | €241,620 | +€13,128 | +5.7% |
| Stocks | 30/36 | €228,492 | €241,620 | +€13,128 | +5.7% |
| Amounts receivable within one year | 40/41 | €115,497 | €72,131 | -€43,366 | -37.5% |
| Trade receivables | 40 | €44,657 | €1,266 | -€43,391 | -97.2% |
| Other amounts receivable | 41 | €70,840 | €70,865 | +€25 | 0.0% |
| Cash at bank and in hand | 54/58 | €280,429 | €231,262 | -€49,167 | -17.5% |
| Deferred charges and accrued income | 490/1 | €2,278 | - | -€2,278 | |
| Total equity and liabilities | 10/49 | €1,555,327 | €1,425,612 | -€129,715 | -8.3% |
| Equity | 10/15 | €539,369 | €529,458 | -€9,911 | -1.8% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Capital | 10 | €350,000 | €350,000 | = | 0.0% |
| Issued capital | 100 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €189,369 | €179,458 | -€9,911 | -5.2% |
| Non-distributable reserves | 130/1 | €15,949 | €15,949 | = | 0.0% |
| Legal reserve | 130 | €15,949 | €15,949 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,500 | €8,500 | = | 0.0% |
| Distributable reserves | 133 | €164,920 | €155,009 | -€9,911 | -6.0% |
| Provisions and deferred taxes | 16 | €33,801 | €33,801 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €33,801 | €33,801 | = | 0.0% |
| Major repairs and maintenance | 162 | €33,801 | €33,801 | = | 0.0% |
| Amounts payable | 17/49 | €982,157 | €862,353 | -€119,804 | -12.2% |
| Amounts payable after more than one year | 17 | €620,182 | €567,234 | -€52,948 | -8.5% |
| Financial debts | 170/4 | €620,182 | €567,234 | -€52,948 | -8.5% |
| Amounts payable within one year | 42/48 | €280,695 | €209,168 | -€71,527 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €49,895 | €52,948 | +€3,053 | +6.1% |
| Trade debts | 44 | €116,411 | €43,153 | -€73,258 | -62.9% |
| Suppliers | 440/4 | €116,411 | €43,153 | -€73,258 | -62.9% |
| Advances received on contracts in progress | 46 | €23,374 | €16,614 | -€6,760 | -28.9% |
| Taxes, remuneration and social security | 45 | €50,508 | €51,301 | +€793 | +1.6% |
| Taxes | 450/3 | €27,733 | €19,420 | -€8,313 | -30.0% |
| Remuneration and social security | 454/9 | €22,775 | €31,881 | +€9,106 | +40.0% |
| Other amounts payable | 47/48 | €40,507 | €45,152 | +€4,645 | +11.5% |
| Accrued charges and deferred income | 492/3 | €81,280 | €85,951 | +€4,671 | +5.7% |
| Remuneration, social security and pensions | 62 | €67,719 | €79,769 | +€12,050 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,729 | €72,398 | -€46,331 | -39.0% |
| Other operating charges | 640/8 | €25,194 | €26,504 | +€1,310 | +5.2% |
| Gross operating margin | 9900 | €205,212 | €208,716 | +€3,504 | +1.7% |
| Operating profit (loss) | 9901 | -€6,430 | €30,045 | +€36,475 | |
| Financial income | 75/76B | €1,743 | €1,122 | -€621 | -35.6% |
| Recurring financial income | 75 | €1,743 | €1,122 | -€621 | -35.6% |
| Financial charges | 65/66B | €23,738 | €28,595 | +€4,857 | +20.5% |
| Recurring financial charges | 65 | €22,180 | €28,595 | +€6,415 | +28.9% |
| Non-recurring financial charges | 66B | €1,558 | - | -€1,558 | |
| Profit (loss) for the period before taxes | 9903 | -€28,425 | €2,572 | +€30,997 | |
| Income taxes | 67/77 | €939 | €340 | -€599 | -63.8% |
| Profit (loss) for the period | 9904 | -€29,364 | €2,232 | +€31,596 | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,364 | €2,232 | +€31,596 |
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 15 October 2026 via checked.be.