TDH Belgium: what changed
TDH Belgium
Largest movements
- Receivables within one year -€29,591
down €29,591 (-60.4%), from €49,015 to €19,425
of which Trade receivables: -€27,971
- Cash -€962
down €962 (-6.6%), from €14,601 to €13,639
mainly Trade debts (-€24,877) and Net result for the year (-€4,816)
- Trade debts -€24,877
down €24,877 (-87.8%), from €28,344 to €3,468
- Profit (loss) carried forward -€4,816
down €4,816 (-20.3%), from €23,690 to €18,874
- Tax, wage and social debts -€993
down €993 (-14.8%), from €6,715 to €5,722
- Gross operating margin -€26,630
down €26,630, from €21,272 to -€5,358
- Taxes -€6,611
no longer reported in 2025 (was €6,611)
- Depreciation -€412
down €412 (-75.6%), from €545 to €133
- Financial income +€332
up €332 (+62.9%), from €527 to €859
- Financial charges -€213
down €213 (-76.8%), from €277 to €64
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,749 | €33,064 | -€30,686 | -48.1% |
| Fixed assets | 21/28 | €133 | - | -€133 | |
| Tangible fixed assets | 22/27 | €133 | - | -€133 | |
| Furniture and vehicles | 24 | €133 | - | -€133 | |
| Current assets | 29/58 | €63,617 | €33,064 | -€30,553 | -48.0% |
| Amounts receivable within one year | 40/41 | €49,015 | €19,425 | -€29,591 | -60.4% |
| Trade receivables | 40 | €31,855 | €3,884 | -€27,971 | -87.8% |
| Other amounts receivable | 41 | €17,160 | €15,541 | -€1,620 | -9.4% |
| Cash at bank and in hand | 54/58 | €14,601 | €13,639 | -€962 | -6.6% |
| Total equity and liabilities | 10/49 | €63,749 | €33,064 | -€30,686 | -48.1% |
| Equity | 10/15 | €28,690 | €23,874 | -€4,816 | -16.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,690 | €18,874 | -€4,816 | -20.3% |
| Amounts payable | 17/49 | €35,059 | €9,190 | -€25,869 | -73.8% |
| Amounts payable within one year | 42/48 | €35,059 | €9,190 | -€25,869 | -73.8% |
| Trade debts | 44 | €28,344 | €3,468 | -€24,877 | -87.8% |
| Suppliers | 440/4 | €28,344 | €3,468 | -€24,877 | -87.8% |
| Taxes, remuneration and social security | 45 | €6,715 | €5,722 | -€993 | -14.8% |
| Taxes | 450/3 | €6,715 | €5,722 | -€993 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €545 | €133 | -€412 | -75.6% |
| Other operating charges | 640/8 | €124 | €120 | -€4 | -2.9% |
| Gross operating margin | 9900 | €21,272 | -€5,358 | -€26,630 | |
| Operating profit (loss) | 9901 | €20,604 | -€5,611 | -€26,215 | |
| Financial income | 75/76B | €527 | €859 | +€332 | +62.9% |
| Recurring financial income | 75 | €527 | €859 | +€332 | +62.9% |
| Financial charges | 65/66B | €277 | €64 | -€213 | -76.8% |
| Recurring financial charges | 65 | €277 | €64 | -€213 | -76.8% |
| Profit (loss) for the period before taxes | 9903 | €20,854 | -€4,816 | -€25,670 | |
| Income taxes | 67/77 | €6,611 | - | -€6,611 | |
| Profit (loss) for the period | 9904 | €14,242 | -€4,816 | -€19,059 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,242 | -€4,816 | -€19,059 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.