TD9: 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.
TD9
Largest movements
- Cash +€68,172
up €68,172 (+147.7%), from €46,141 to €114,313
mainly Stocks and contracts (+€51,396) and Depreciation (+€43,183)
- Stocks and contracts -€51,396
down €51,396 (-38.4%), from €133,928 to €82,532
- Tangible fixed assets -€40,636
down €40,636 (-26.8%), from €151,509 to €110,872
- Receivables within one year +€21,975
up €21,975 (+11.0%), from €200,616 to €222,591
- Deferred charges and accrued income +€5,590
up €5,590 (+1077.2%), from €519 to €6,109
- Trade debts +€34,654
up €34,654 (+50.5%), from €68,589 to €103,243
- Debts after one year -€30,096
down €30,096 (-18.3%), from €164,367 to €134,270
- Profit (loss) carried forward -€22,541
down €22,541 (-12.0%), from €187,808 to €165,267
- Other debts +€17,642
up €17,642 (+52.2%), from €33,830 to €51,472
- Gross operating margin -€37,976
down €37,976 (-18.8%), from €202,126 to €164,150
- Staff costs +€19,238
up €19,238 (+15.8%), from €121,764 to €141,002
- Taxes -€5,622
no longer reported in 2025 (was €5,622)
- Financial income +€5,362
up €5,362 (+44987.2%), from €12 to €5,374
- Other operating charges -€2,775
down €2,775 (-67.2%), from €4,128 to €1,352
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 | €533,788 | €536,447 | +€2,658 | +0.5% |
| Fixed assets | 21/28 | €152,584 | €110,902 | -€41,683 | -27.3% |
| Intangible fixed assets | 21 | €1,076 | €29 | -€1,046 | -97.3% |
| Tangible fixed assets | 22/27 | €151,509 | €110,872 | -€40,636 | -26.8% |
| Plant, machinery and equipment | 23 | €38,940 | €19,147 | -€19,793 | -50.8% |
| Furniture and vehicles | 24 | €4,566 | €1,500 | -€3,066 | -67.2% |
| Other tangible fixed assets | 26 | €108,002 | €90,226 | -€17,777 | -16.5% |
| Current assets | 29/58 | €381,204 | €425,545 | +€44,341 | +11.6% |
| Stocks and contracts in progress | 3 | €133,928 | €82,532 | -€51,396 | -38.4% |
| Stocks | 30/36 | €133,928 | €82,532 | -€51,396 | -38.4% |
| Amounts receivable within one year | 40/41 | €200,616 | €222,591 | +€21,975 | +11.0% |
| Other amounts receivable | 41 | €200,616 | €222,591 | +€21,975 | +11.0% |
| Cash at bank and in hand | 54/58 | €46,141 | €114,313 | +€68,172 | +147.7% |
| Deferred charges and accrued income | 490/1 | €519 | €6,109 | +€5,590 | +1077.2% |
| Total equity and liabilities | 10/49 | €533,788 | €536,447 | +€2,658 | +0.5% |
| Equity | 10/15 | €200,308 | €177,767 | -€22,541 | -11.3% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €187,808 | €165,267 | -€22,541 | -12.0% |
| Amounts payable | 17/49 | €333,480 | €358,680 | +€25,200 | +7.6% |
| Amounts payable after more than one year | 17 | €164,367 | €134,270 | -€30,096 | -18.3% |
| Financial debts | 170/4 | €164,367 | €134,270 | -€30,096 | -18.3% |
| Amounts payable within one year | 42/48 | €169,114 | €224,410 | +€55,296 | +32.7% |
| Current portion of amounts payable after more than one year | 42 | €29,548 | €30,096 | +€549 | +1.9% |
| Financial debts | 43 | €12,539 | €12,559 | +€21 | +0.2% |
| Credit institutions | 430/8 | €12,539 | €12,559 | +€21 | +0.2% |
| Trade debts | 44 | €68,589 | €103,243 | +€34,654 | +50.5% |
| Suppliers | 440/4 | €68,589 | €103,243 | +€34,654 | +50.5% |
| Taxes, remuneration and social security | 45 | €24,608 | €27,039 | +€2,431 | +9.9% |
| Taxes | 450/3 | €16,854 | €9,687 | -€7,166 | -42.5% |
| Remuneration and social security | 454/9 | €7,755 | €17,352 | +€9,597 | +123.8% |
| Other amounts payable | 47/48 | €33,830 | €51,472 | +€17,642 | +52.2% |
| Remuneration, social security and pensions | 62 | €121,764 | €141,002 | +€19,238 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,502 | €43,183 | -€2,319 | -5.1% |
| Other operating charges | 640/8 | €4,128 | €1,352 | -€2,775 | -67.2% |
| Gross operating margin | 9900 | €202,126 | €164,150 | -€37,976 | -18.8% |
| Operating profit (loss) | 9901 | €30,732 | -€21,387 | -€52,119 | |
| Financial income | 75/76B | €12 | €5,374 | +€5,362 | +44987.2% |
| Recurring financial income | 75 | €12 | €5,374 | +€5,362 | +44987.2% |
| Financial charges | 65/66B | €6,188 | €6,528 | +€341 | +5.5% |
| Recurring financial charges | 65 | €6,188 | €6,528 | +€341 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | €24,556 | -€22,541 | -€47,098 | |
| Income taxes | 67/77 | €5,622 | - | -€5,622 | |
| Profit (loss) for the period | 9904 | €18,934 | -€22,541 | -€41,475 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,934 | -€22,541 | -€41,475 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.