TDG CONSTRUCT: 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.
TDG CONSTRUCT
Largest movements
- Receivables within one year -€39,774
down €39,774 (-57.8%), from €68,824 to €29,050
of which Trade receivables: -€47,201
- Cash -€3,409
down €3,409 (-22.2%), from €15,332 to €11,923
mainly Trade debts (-€39,189) and Tax, wage and social debts (-€8,820)
- Stocks and contracts -€2,000
down €2,000 (-50.0%), from €4,000 to €2,000
of which Stocks: -€2,000
- Tangible fixed assets -€1,753
down €1,753 (-41.7%), from €4,201 to €2,448
- Trade debts -€39,189
down €39,189 (-73.1%), from €53,604 to €14,415
- Tax, wage and social debts -€8,820
down €8,820 (-66.8%), from €13,200 to €4,380
of which Remuneration and social security: -€7,557
- Reserves +€1,042
up €1,042 (+4.0%), from €26,122 to €27,163
- Gross operating margin -€94,134
down €94,134 (-42.6%), from €220,782 to €126,648
- Staff costs -€59,135
down €59,135 (-32.5%), from €182,142 to €123,007
- Taxes -€9,703
down €9,703 (-94.8%), from €10,232 to €529
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 | €95,586 | €48,398 | -€47,187 | -49.4% |
| Fixed assets | 21/28 | €4,201 | €2,448 | -€1,753 | -41.7% |
| Tangible fixed assets | 22/27 | €4,201 | €2,448 | -€1,753 | -41.7% |
| Plant, machinery and equipment | 23 | €4,201 | €2,448 | -€1,753 | -41.7% |
| Current assets | 29/58 | €91,384 | €45,950 | -€45,434 | -49.7% |
| Stocks and contracts in progress | 3 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Stocks | 30/36 | €2,500 | €500 | -€2,000 | -80.0% |
| Contracts in progress | 37 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €68,824 | €29,050 | -€39,774 | -57.8% |
| Trade receivables | 40 | €57,309 | €10,108 | -€47,201 | -82.4% |
| Other amounts receivable | 41 | €11,515 | €18,942 | +€7,427 | +64.5% |
| Cash at bank and in hand | 54/58 | €15,332 | €11,923 | -€3,409 | -22.2% |
| Deferred charges and accrued income | 490/1 | €3,228 | €2,976 | -€252 | -7.8% |
| Total equity and liabilities | 10/49 | €95,586 | €48,398 | -€47,187 | -49.4% |
| Equity | 10/15 | €28,122 | €29,163 | +€1,042 | +3.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €26,122 | €27,163 | +€1,042 | +4.0% |
| Distributable reserves | 133 | €26,122 | €27,163 | +€1,042 | +4.0% |
| Amounts payable | 17/49 | €67,464 | €19,235 | -€48,229 | -71.5% |
| Amounts payable within one year | 42/48 | €67,434 | €19,235 | -€48,199 | -71.5% |
| Trade debts | 44 | €53,604 | €14,415 | -€39,189 | -73.1% |
| Suppliers | 440/4 | €53,604 | €14,415 | -€39,189 | -73.1% |
| Taxes, remuneration and social security | 45 | €13,200 | €4,380 | -€8,820 | -66.8% |
| Taxes | 450/3 | €1,904 | €642 | -€1,262 | -66.3% |
| Remuneration and social security | 454/9 | €11,295 | €3,738 | -€7,557 | -66.9% |
| Other amounts payable | 47/48 | €631 | €440 | -€190 | -30.2% |
| Accrued charges and deferred income | 492/3 | €30 | - | -€30 | |
| Remuneration, social security and pensions | 62 | €182,142 | €123,007 | -€59,135 | -32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,057 | €1,753 | +€696 | +65.8% |
| Other operating charges | 640/8 | €535 | €537 | +€2 | +0.4% |
| Gross operating margin | 9900 | €220,782 | €126,648 | -€94,134 | -42.6% |
| Operating profit (loss) | 9901 | €37,047 | €1,351 | -€35,696 | -96.4% |
| Financial income | 75/76B | €25 | €349 | +€324 | +1304.3% |
| Recurring financial income | 75 | €25 | €349 | +€324 | +1304.3% |
| Financial charges | 65/66B | €719 | €129 | -€589 | -82.0% |
| Recurring financial charges | 65 | €719 | €129 | -€589 | -82.0% |
| Profit (loss) for the period before taxes | 9903 | €36,353 | €1,571 | -€34,783 | -95.7% |
| Income taxes | 67/77 | €10,232 | €529 | -€9,703 | -94.8% |
| Profit (loss) for the period | 9904 | €26,122 | €1,042 | -€25,080 | -96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,122 | €1,042 | -€25,080 | -96.0% |
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 7 October 2026 via checked.be.