TDC PROJECTS: 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.
TDC PROJECTS
Largest movements
- Cash +€56,430
up €56,430 (+12012.5%), from €470 to €56,900
mainly Current investments (+€38,955) and Other debts (+€15,949)
- Current investments -€38,955
down €38,955 (-28.0%), from €138,955 to €100,000
- Tangible fixed assets -€13,721
down €13,721 (-4.6%), from €298,050 to €284,329
of which Land and buildings: -€9,356
- Debts after one year -€18,885
down €18,885 (-9.1%), from €207,466 to €188,581
- Other debts +€15,949
up €15,949 (+22.4%), from €71,306 to €87,255
- Reserves +€6,451
up €6,451 (+5.2%), from €123,464 to €129,915
- Gross operating margin -€25,906
down €25,906 (-44.2%), from €58,666 to €32,759
- Taxes -€7,417
down €7,417 (-72.9%), from €10,177 to €2,759
- Financial income -€1,729
down €1,729 (-61.3%), from €2,821 to €1,092
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 | €449,489 | €455,320 | +€5,831 | +1.3% |
| Fixed assets | 21/28 | €298,050 | €284,329 | -€13,721 | -4.6% |
| Tangible fixed assets | 22/27 | €298,050 | €284,329 | -€13,721 | -4.6% |
| Land and buildings | 22 | €287,921 | €278,565 | -€9,356 | -3.2% |
| Furniture and vehicles | 24 | €10,130 | €5,764 | -€4,365 | -43.1% |
| Current assets | 29/58 | €151,439 | €170,991 | +€19,552 | +12.9% |
| Amounts receivable within one year | 40/41 | €11,316 | €13,459 | +€2,144 | +18.9% |
| Trade receivables | 40 | €6,753 | €6,978 | +€224 | +3.3% |
| Other amounts receivable | 41 | €4,562 | €6,482 | +€1,920 | +42.1% |
| Current investments | 50/53 | €138,955 | €100,000 | -€38,955 | -28.0% |
| Cash at bank and in hand | 54/58 | €470 | €56,900 | +€56,430 | +12012.5% |
| Deferred charges and accrued income | 490/1 | €699 | €632 | -€67 | -9.6% |
| Total equity and liabilities | 10/49 | €449,489 | €455,320 | +€5,831 | +1.3% |
| Equity | 10/15 | €142,064 | €148,515 | +€6,451 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €123,464 | €129,915 | +€6,451 | +5.2% |
| Distributable reserves | 133 | €123,464 | €129,915 | +€6,451 | +5.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €307,425 | €306,805 | -€620 | -0.2% |
| Amounts payable after more than one year | 17 | €207,466 | €188,581 | -€18,885 | -9.1% |
| Financial debts | 170/4 | €207,466 | €188,581 | -€18,885 | -9.1% |
| Amounts payable within one year | 42/48 | €94,910 | €112,784 | +€17,873 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €18,608 | €18,885 | +€277 | +1.5% |
| Trade debts | 44 | €558 | €3,438 | +€2,880 | +516.2% |
| Suppliers | 440/4 | €558 | €3,438 | +€2,880 | +516.2% |
| Taxes, remuneration and social security | 45 | €4,438 | €3,205 | -€1,233 | -27.8% |
| Taxes | 450/3 | €4,438 | €3,205 | -€1,233 | -27.8% |
| Other amounts payable | 47/48 | €71,306 | €87,255 | +€15,949 | +22.4% |
| Accrued charges and deferred income | 492/3 | €5,048 | €5,440 | +€392 | +7.8% |
| Non-recurring operating income | 76A | €922 | €0 | -€922 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,721 | €13,721 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,140 | €2,112 | -€28 | -1.3% |
| Gross operating margin | 9900 | €58,666 | €32,759 | -€25,906 | -44.2% |
| Operating profit (loss) | 9901 | €42,805 | €16,927 | -€25,878 | -60.5% |
| Financial income | 75/76B | €2,821 | €1,092 | -€1,729 | -61.3% |
| Recurring financial income | 75 | €2,821 | €1,092 | -€1,729 | -61.3% |
| Financial charges | 65/66B | €8,593 | €8,808 | +€215 | +2.5% |
| Recurring financial charges | 65 | €8,593 | €8,808 | +€215 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €37,032 | €9,211 | -€27,822 | -75.1% |
| Income taxes | 67/77 | €10,177 | €2,759 | -€7,417 | -72.9% |
| Profit (loss) for the period | 9904 | €26,856 | €6,451 | -€20,404 | -76.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,856 | €6,451 | -€20,404 | -76.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.