TDG Management: 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.
TDG Management
Largest movements
- Cash -€145,669
down €145,669 (-73.9%), from €197,027 to €51,358
mainly Contributions, distributions and other (-€208,260) and Investment in fixed assets (net) (-€26,431)
- Tangible fixed assets +€17,809
up €17,809 (+209.6%), from €8,496 to €26,306
of which Furniture and vehicles: +€18,474
- Current investments +€12,000
new in 2025: €12,000
- Profit (loss) carried forward -€111,855
down €111,855 (-80.8%), from €138,430 to €26,575
- Tax, wage and social debts -€11,678
down €11,678 (-71.2%), from €16,413 to €4,735
- Other debts +€9,750
up €9,750 (+13.5%), from €72,250 to €82,000
- Gross operating margin +€16,637
up €16,637 (+14.1%), from €118,120 to €134,757
- Taxes +€12,717
up €12,717 (+85.6%), from €14,865 to €27,582
- Depreciation +€5,910
up €5,910 (+218.0%), from €2,711 to €8,622
- Financial charges -€4,518
down €4,518 (-85.6%), from €5,276 to €758
- Financial income -€1,829
down €1,829 (-70.9%), from €2,580 to €751
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 | €229,090 | €114,540 | -€114,550 | -50.0% |
| Fixed assets | 21/28 | €8,496 | €26,306 | +€17,809 | +209.6% |
| Tangible fixed assets | 22/27 | €8,496 | €26,306 | +€17,809 | +209.6% |
| Plant, machinery and equipment | 23 | €1,541 | €1,184 | -€357 | -23.2% |
| Furniture and vehicles | 24 | €5,019 | €23,493 | +€18,474 | +368.1% |
| Other tangible fixed assets | 26 | €1,936 | €1,629 | -€308 | -15.9% |
| Current assets | 29/58 | €220,593 | €88,234 | -€132,359 | -60.0% |
| Amounts receivable within one year | 40/41 | €19,543 | €21,021 | +€1,478 | +7.6% |
| Trade receivables | 40 | €17,725 | €17,590 | -€136 | -0.8% |
| Other amounts receivable | 41 | €1,818 | €3,431 | +€1,613 | +88.7% |
| Current investments | 50/53 | - | €12,000 | +€12,000 | |
| Cash at bank and in hand | 54/58 | €197,027 | €51,358 | -€145,669 | -73.9% |
| Deferred charges and accrued income | 490/1 | €4,023 | €3,856 | -€168 | -4.2% |
| Total equity and liabilities | 10/49 | €229,090 | €114,540 | -€114,550 | -50.0% |
| Equity | 10/15 | €138,530 | €26,675 | -€111,855 | -80.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €138,430 | €26,575 | -€111,855 | -80.8% |
| Amounts payable | 17/49 | €90,560 | €87,864 | -€2,695 | -3.0% |
| Amounts payable within one year | 42/48 | €89,907 | €87,211 | -€2,695 | -3.0% |
| Trade debts | 44 | €1,244 | €477 | -€767 | -61.7% |
| Suppliers | 440/4 | €1,244 | €477 | -€767 | -61.7% |
| Taxes, remuneration and social security | 45 | €16,413 | €4,735 | -€11,678 | -71.2% |
| Taxes | 450/3 | €16,413 | €4,735 | -€11,678 | -71.2% |
| Other amounts payable | 47/48 | €72,250 | €82,000 | +€9,750 | +13.5% |
| Accrued charges and deferred income | 492/3 | €653 | €653 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,711 | €8,622 | +€5,910 | +218.0% |
| Other operating charges | 640/8 | €678 | €2,141 | +€1,463 | +215.7% |
| Gross operating margin | 9900 | €118,120 | €134,757 | +€16,637 | +14.1% |
| Operating profit (loss) | 9901 | €114,730 | €123,994 | +€9,264 | +8.1% |
| Financial income | 75/76B | €2,580 | €751 | -€1,829 | -70.9% |
| Recurring financial income | 75 | €2,580 | €751 | -€1,829 | -70.9% |
| Financial charges | 65/66B | €5,276 | €758 | -€4,518 | -85.6% |
| Recurring financial charges | 65 | €5,276 | €758 | -€4,518 | -85.6% |
| Profit (loss) for the period before taxes | 9903 | €112,035 | €123,988 | +€11,953 | +10.7% |
| Income taxes | 67/77 | €14,865 | €27,582 | +€12,717 | +85.6% |
| Profit (loss) for the period | 9904 | €97,170 | €96,406 | -€764 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €97,170 | €96,406 | -€764 | -0.8% |
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 9 October 2026 via checked.be.