TDC Management Services: 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.
TDC Management Services
Largest movements
- Receivables within one year +€15,886
up €15,886 (+6,661%), from €238 to €16,124
of which Trade receivables: +€15,885
- Cash +€12,520
up €12,520 (+75.7%), from €16,542 to €29,062
mainly Net result for the year (+€30,878) and Tax, wage and social debts (+€3,474)
- Tangible fixed assets +€2,939
up €2,939 (+156%), from €1,878 to €4,817
- Deferred charges and accrued income +€2,893
up €2,893 (+138%), from €2,096 to €4,989
- Reserves +€30,878
up €30,878 (+4,478%), from €690 to €31,568
- Tax, wage and social debts +€3,474
up €3,474 (+31.4%), from €11,064 to €14,538
of which Taxes: +€6,474
- Current portion of long-term debt -€2,775
down €2,775 (-100%), from €2,775 to €0
- Trade debts +€2,040
new in 2025: €2,040
- Other debts +€622
up €622 (+50.7%), from €1,225 to €1,847
- Gross operating margin +€38,806
up €38,806 (+964%), from €4,023 to €42,829
- Taxes +€7,651
up €7,651 (+941%), from €813 to €8,464
- Other operating charges +€547
up €547 (+867%), from €63 to €610
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 | €20,754 | €54,992 | +€34,237 | +165% |
| Fixed assets | 21/28 | €1,878 | €4,817 | +€2,939 | +156% |
| Tangible fixed assets | 22/27 | €1,878 | €4,817 | +€2,939 | +156% |
| Furniture and vehicles | 24 | €1,878 | €4,817 | +€2,939 | +156% |
| Current assets | 29/58 | €18,876 | €50,174 | +€31,298 | +166% |
| Amounts receivable within one year | 40/41 | €238 | €16,124 | +€15,886 | +6,661% |
| Trade receivables | 40 | €238 | €16,123 | +€15,885 | +6,661% |
| Other amounts receivable | 41 | - | €1 | +€1 | |
| Cash at bank and in hand | 54/58 | €16,542 | €29,062 | +€12,520 | +75.7% |
| Deferred charges and accrued income | 490/1 | €2,096 | €4,989 | +€2,893 | +138% |
| Total equity and liabilities | 10/49 | €20,754 | €54,992 | +€34,237 | +165% |
| Equity | 10/15 | €5,690 | €36,568 | +€30,878 | +543% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €690 | €31,568 | +€30,878 | +4,478% |
| Distributable reserves | 133 | €690 | €31,568 | +€30,878 | +4,478% |
| Amounts payable | 17/49 | €15,065 | €18,424 | +€3,359 | +22.3% |
| Amounts payable within one year | 42/48 | €15,065 | €18,424 | +€3,359 | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €2,775 | €0 | -€2,775 | -100% |
| Trade debts | 44 | - | €2,040 | +€2,040 | |
| Suppliers | 440/4 | - | €2,040 | +€2,040 | |
| Taxes, remuneration and social security | 45 | €11,064 | €14,538 | +€3,474 | +31.4% |
| Taxes | 450/3 | €8,064 | €14,538 | +€6,474 | +80.3% |
| Remuneration and social security | 454/9 | €3,000 | €0 | -€3,000 | -100% |
| Other amounts payable | 47/48 | €1,225 | €1,847 | +€622 | +50.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €711 | €788 | +€77 | +10.8% |
| Other operating charges | 640/8 | €63 | €610 | +€547 | +867% |
| Non-recurring operating charges | 66A | - | €559 | +€559 | |
| Gross operating margin | 9900 | €4,023 | €42,829 | +€38,806 | +964% |
| Operating profit (loss) | 9901 | €3,249 | €40,873 | +€37,624 | +1,158% |
| Financial charges | 65/66B | €1,747 | €1,531 | -€216 | -12.4% |
| Recurring financial charges | 65 | €1,747 | €1,531 | -€216 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €1,502 | €39,342 | +€37,840 | +2,519% |
| Income taxes | 67/77 | €813 | €8,464 | +€7,651 | +941% |
| Profit (loss) for the period | 9904 | €690 | €30,878 | +€30,189 | +4,378% |
| Profit (loss) for the period to be appropriated | 9905 | €690 | €30,878 | +€30,189 | +4,378% |
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 17 October 2026 via checked.be.