TDB INVEST: 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.
TDB INVEST
Largest movements
- Current investments -€998,992
down €998,992 (-52.6%), from €1.9m to €901,008
- Cash +€492,324
up €492,324 (+61.0%), from €806,818 to €1.3m
mainly Current investments (+€998,992) and Net result for the year (+€252,272)
- Receivables within one year +€253,754
up €253,754 (+1,370%), from €18,518 to €272,272
of which Other amounts receivable: +€255,194
- Financial fixed assets -€200,000
down €200,000 (-4.9%), from €4.1m to €3.9m
of which Other financial fixed assets: -€200,000
- Other debts -€307,000
down €307,000 (-41.9%), from €732,000 to €425,000
- Profit (loss) carried forward -€247,728
down €247,728 (-29.4%), from €843,167 to €595,438
- Tax, wage and social debts +€75,739
up €75,739 (+2,889%), from €2,622 to €78,361
- Financial income +€141,368
up €141,368 (+96.8%), from €146,102 to €287,469
- Turnover -€61,532
down €61,532 (-12.6%), from €487,657 to €426,125
- Financial charges +€60,590
up €60,590 (+9,734%), from €622 to €61,212
- Taxes -€20,069
down €20,069 (-71.3%), from €28,160 to €8,091
- Services and other goods -€16,475
down €16,475 (-4.0%), from €407,158 to €390,683
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 | €6,850,147 | €6,390,026 | -€460,122 | -6.7% |
| Fixed assets | 21/28 | €4,111,178 | €3,911,006 | -€200,172 | -4.9% |
| Tangible fixed assets | 22/27 | €172 | €0 | -€172 | -100% |
| Plant, machinery and equipment | 23 | €172 | €0 | -€172 | -100% |
| Financial fixed assets | 28 | €4,111,006 | €3,911,006 | -€200,000 | -4.9% |
| Affiliated companies | 280/1 | €2,000,071 | €2,000,071 | = | 0.0% |
| Participating interests | 280 | €2,000,071 | €2,000,071 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €1,410,935 | €1,410,935 | = | 0.0% |
| Participating interests | 282 | €1,410,935 | €1,410,935 | = | 0.0% |
| Other financial fixed assets | 284/8 | €700,000 | €500,000 | -€200,000 | -28.6% |
| Amounts receivable and cash guarantees | 285/8 | €700,000 | €500,000 | -€200,000 | -28.6% |
| Current assets | 29/58 | €2,738,969 | €2,479,020 | -€259,950 | -9.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €18,518 | €272,272 | +€253,754 | +1,370% |
| Trade receivables | 40 | €5,760 | €4,320 | -€1,440 | -25.0% |
| Other amounts receivable | 41 | €12,758 | €267,952 | +€255,194 | +2,000% |
| Current investments | 50/53 | €1,900,000 | €901,008 | -€998,992 | -52.6% |
| Other investments | 51/53 | €1,900,000 | €901,008 | -€998,992 | -52.6% |
| Cash at bank and in hand | 54/58 | €806,818 | €1,299,142 | +€492,324 | +61.0% |
| Deferred charges and accrued income | 490/1 | €13,634 | €6,598 | -€7,036 | -51.6% |
| Total equity and liabilities | 10/49 | €6,850,147 | €6,390,026 | -€460,122 | -6.7% |
| Equity | 10/15 | €6,114,467 | €5,866,738 | -€247,728 | -4.1% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €5,206,300 | €5,206,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €206,300 | €206,300 | = | 0.0% |
| Legal reserve | 130 | €206,300 | €206,300 | = | 0.0% |
| Distributable reserves | 133 | €5,000,000 | €5,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €843,167 | €595,438 | -€247,728 | -29.4% |
| Amounts payable | 17/49 | €735,680 | €523,287 | -€212,393 | -28.9% |
| Amounts payable within one year | 42/48 | €735,200 | €522,603 | -€212,597 | -28.9% |
| Trade debts | 44 | €578 | €19,243 | +€18,664 | +3,227% |
| Suppliers | 440/4 | €578 | €19,243 | +€18,664 | +3,227% |
| Taxes, remuneration and social security | 45 | €2,622 | €78,361 | +€75,739 | +2,889% |
| Taxes | 450/3 | €2,622 | €78,361 | +€75,739 | +2,889% |
| Other amounts payable | 47/48 | €732,000 | €425,000 | -€307,000 | -41.9% |
| Accrued charges and deferred income | 492/3 | €480 | €684 | +€204 | +42.4% |
| Operating income | 70/76A | €487,657 | €426,125 | -€61,532 | -12.6% |
| Turnover | 70 | €487,657 | €426,125 | -€61,532 | -12.6% |
| Operating charges | 60/66A | €408,651 | €392,020 | -€16,631 | -4.1% |
| Services and other goods | 61 | €407,158 | €390,683 | -€16,475 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207 | €172 | -€35 | -16.9% |
| Other operating charges | 640/8 | €1,286 | €1,165 | -€121 | -9.4% |
| Operating profit (loss) | 9901 | €79,006 | €34,105 | -€44,901 | -56.8% |
| Financial income | 75/76B | €146,102 | €287,469 | +€141,368 | +96.8% |
| Recurring financial income | 75 | €146,102 | €287,469 | +€141,368 | +96.8% |
| Income from financial fixed assets | 750 | €114,000 | €244,235 | +€130,235 | +114% |
| Income from current assets | 751 | €32,102 | €43,235 | +€11,133 | +34.7% |
| Financial charges | 65/66B | €622 | €61,212 | +€60,590 | +9,734% |
| Recurring financial charges | 65 | €622 | €61,212 | +€60,590 | +9,734% |
| Debt charges | 650 | €0 | €60,646 | +€60,646 | |
| Other financial charges | 652/9 | €622 | €567 | -€56 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | €224,486 | €260,362 | +€35,877 | +16.0% |
| Income taxes | 67/77 | €28,160 | €8,091 | -€20,069 | -71.3% |
| Taxes | 670/3 | €28,160 | €8,091 | -€20,069 | -71.3% |
| Profit (loss) for the period | 9904 | €196,326 | €252,272 | +€55,946 | +28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €196,326 | €252,272 | +€55,946 | +28.5% |
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 26 October 2026 via checked.be.