TDA CONSTRUCT: 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.
TDA CONSTRUCT
Largest movements
- Tangible fixed assets +€31,695
up €31,695 (+47.3%), from €67,001 to €98,696
of which Furniture and vehicles: +€43,621
- Cash +€29,224
up €29,224 (+174%), from €16,766 to €45,991
mainly Debts after one year (+€25,013) and Receivables within one year (+€24,280)
- Receivables within one year -€24,280
down €24,280 (-33.1%), from €73,264 to €48,984
of which Trade receivables: -€22,331
- Debts after one year +€25,013
up €25,013 (+76.1%), from €32,855 to €57,868
- Profit (loss) carried forward +€14,521
up €14,521 (+35.8%), from €40,532 to €55,053
- Other debts +€12,189
new in 2025: €12,189
- Trade debts -€11,054
down €11,054 (-46.2%), from €23,917 to €12,863
- Tax, wage and social debts -€5,518
down €5,518 (-23.9%), from €23,084 to €17,566
of which Taxes: -€3,518
- Gross operating margin +€32,881
up €32,881 (+121%), from €27,253 to €60,134
- Financial charges +€13,497
up €13,497 (+1,378%), from €979 to €14,476
- Depreciation +€4,814
up €4,814 (+25.2%), from €19,109 to €23,923
- Taxes +€2,614
up €2,614 (+106%), from €2,476 to €5,090
- Other operating charges +€697
up €697 (+48.8%), from €1,427 to €2,124
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 | €161,459 | €198,825 | +€37,366 | +23.1% |
| Fixed assets | 21/28 | €67,001 | €98,696 | +€31,695 | +47.3% |
| Tangible fixed assets | 22/27 | €67,001 | €98,696 | +€31,695 | +47.3% |
| Plant, machinery and equipment | 23 | €3,369 | €1,865 | -€1,504 | -44.6% |
| Furniture and vehicles | 24 | €12,659 | €56,280 | +€43,621 | +345% |
| Leasing and similar rights | 25 | €50,974 | €40,551 | -€10,423 | -20.4% |
| Current assets | 29/58 | €94,458 | €100,129 | +€5,671 | +6.0% |
| Amounts receivable within one year | 40/41 | €73,264 | €48,984 | -€24,280 | -33.1% |
| Trade receivables | 40 | €66,753 | €44,422 | -€22,331 | -33.5% |
| Other amounts receivable | 41 | €6,511 | €4,562 | -€1,949 | -29.9% |
| Cash at bank and in hand | 54/58 | €16,766 | €45,991 | +€29,224 | +174% |
| Deferred charges and accrued income | 490/1 | €4,427 | €5,154 | +€727 | +16.4% |
| Total equity and liabilities | 10/49 | €161,459 | €198,825 | +€37,366 | +23.1% |
| Equity | 10/15 | €61,532 | €76,053 | +€14,521 | +23.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €40,532 | €55,053 | +€14,521 | +35.8% |
| Amounts payable | 17/49 | €99,927 | €122,772 | +€22,845 | +22.9% |
| Amounts payable after more than one year | 17 | €32,855 | €57,868 | +€25,013 | +76.1% |
| Financial debts | 170/4 | €32,855 | €57,868 | +€25,013 | +76.1% |
| Amounts payable within one year | 42/48 | €66,661 | €64,904 | -€1,757 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €19,659 | €22,286 | +€2,627 | +13.4% |
| Trade debts | 44 | €23,917 | €12,863 | -€11,054 | -46.2% |
| Suppliers | 440/4 | €23,917 | €12,863 | -€11,054 | -46.2% |
| Taxes, remuneration and social security | 45 | €23,084 | €17,566 | -€5,518 | -23.9% |
| Taxes | 450/3 | €11,084 | €7,566 | -€3,518 | -31.7% |
| Remuneration and social security | 454/9 | €12,000 | €10,000 | -€2,000 | -16.7% |
| Other amounts payable | 47/48 | - | €12,189 | +€12,189 | |
| Accrued charges and deferred income | 492/3 | €411 | - | -€411 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,109 | €23,923 | +€4,814 | +25.2% |
| Other operating charges | 640/8 | €1,427 | €2,124 | +€697 | +48.8% |
| Gross operating margin | 9900 | €27,253 | €60,134 | +€32,881 | +121% |
| Operating profit (loss) | 9901 | €6,718 | €34,087 | +€27,369 | +407% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €979 | €14,476 | +€13,497 | +1,378% |
| Recurring financial charges | 65 | €979 | €14,476 | +€13,497 | +1,378% |
| Profit (loss) for the period before taxes | 9903 | €5,738 | €19,611 | +€13,873 | +242% |
| Income taxes | 67/77 | €2,476 | €5,090 | +€2,614 | +106% |
| Profit (loss) for the period | 9904 | €3,262 | €14,521 | +€11,259 | +345% |
| Profit (loss) for the period to be appropriated | 9905 | €3,262 | €14,521 | +€11,259 | +345% |
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 13 October 2026 via checked.be.