TD-Works: 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-Works
Largest movements
- Stocks and contracts +€30,011
up €30,011 (+275%), from €10,930 to €40,941
- Receivables within one year -€15,121
down €15,121 (-50.7%), from €29,849 to €14,728
of which Other amounts receivable: -€10,735
- Cash -€4,384
down €4,384 (-58.2%), from €7,527 to €3,143
mainly Stocks and contracts (-€30,011) and Trade debts (-€1,386)
- Profit (loss) carried forward +€8,261
up €8,261 (+22.4%), from €36,872 to €45,133
- Tax, wage and social debts +€2,243
new in 2025: €2,243
- Trade debts -€1,386
down €1,386 (-25.7%), from €5,398 to €4,012
- Other debts +€1,128
up €1,128 (+23.6%), from €4,786 to €5,914
- Gross operating margin -€6,382
down €6,382 (-36.8%), from €17,341 to €10,958
- Taxes -€1,147
down €1,147 (-33.8%), from €3,390 to €2,243
- Other operating charges -€216
down €216 (-64.3%), from €336 to €120
- Depreciation +€207
up €207 (+382%), from €54 to €261
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 | €49,556 | €59,801 | +€10,246 | +20.7% |
| Fixed assets | 21/28 | €1,251 | €990 | -€261 | -20.9% |
| Tangible fixed assets | 22/27 | €1,251 | €990 | -€261 | -20.9% |
| Plant, machinery and equipment | 23 | €1,251 | €990 | -€261 | -20.9% |
| Current assets | 29/58 | €48,305 | €58,812 | +€10,507 | +21.8% |
| Stocks and contracts in progress | 3 | €10,930 | €40,941 | +€30,011 | +275% |
| Stocks | 30/36 | €10,930 | €40,941 | +€30,011 | +275% |
| Amounts receivable within one year | 40/41 | €29,849 | €14,728 | -€15,121 | -50.7% |
| Trade receivables | 40 | €15,666 | €11,280 | -€4,386 | -28.0% |
| Other amounts receivable | 41 | €14,183 | €3,448 | -€10,735 | -75.7% |
| Cash at bank and in hand | 54/58 | €7,527 | €3,143 | -€4,384 | -58.2% |
| Total equity and liabilities | 10/49 | €49,556 | €59,801 | +€10,246 | +20.7% |
| Equity | 10/15 | €39,372 | €47,633 | +€8,261 | +21.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,872 | €45,133 | +€8,261 | +22.4% |
| Amounts payable | 17/49 | €10,184 | €12,168 | +€1,984 | +19.5% |
| Amounts payable within one year | 42/48 | €10,184 | €12,168 | +€1,984 | +19.5% |
| Trade debts | 44 | €5,398 | €4,012 | -€1,386 | -25.7% |
| Suppliers | 440/4 | €5,398 | €4,012 | -€1,386 | -25.7% |
| Taxes, remuneration and social security | 45 | - | €2,243 | +€2,243 | |
| Taxes | 450/3 | - | €2,243 | +€2,243 | |
| Other amounts payable | 47/48 | €4,786 | €5,914 | +€1,128 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54 | €261 | +€207 | +382% |
| Other operating charges | 640/8 | €336 | €120 | -€216 | -64.3% |
| Gross operating margin | 9900 | €17,341 | €10,958 | -€6,382 | -36.8% |
| Operating profit (loss) | 9901 | €16,951 | €10,577 | -€6,373 | -37.6% |
| Financial charges | 65/66B | €80 | €74 | -€7 | -8.6% |
| Recurring financial charges | 65 | €80 | €74 | -€7 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €16,870 | €10,504 | -€6,366 | -37.7% |
| Income taxes | 67/77 | €3,390 | €2,243 | -€1,147 | -33.8% |
| Profit (loss) for the period | 9904 | €13,481 | €8,261 | -€5,219 | -38.7% |
| Profit (loss) for the period to be appropriated | 9905 | €13,481 | €8,261 | -€5,219 | -38.7% |
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 1 November 2026 via checked.be.