TDH Management: what changed
TDH Management
Largest movements
- Receivables after one year -€25,000
down €25,000 (-100%), from €25,000 to €0
- Receivables within one year -€22,817
down €22,817 (-76.4%), from €29,860 to €7,043
of which Trade receivables: -€12,766
- Cash -€17,830
down €17,830 (-95.5%), from €18,671 to €841
mainly Other debts (-€30,916) and Net result for the year (-€27,786)
- Tangible fixed assets -€10,004
down €10,004 (-81.3%), from €12,307 to €2,304
of which Furniture and vehicles: -€9,748
- Other debts -€30,916
down €30,916 (-86.7%), from €35,678 to €4,762
- Profit (loss) carried forward -€15,486
down €15,486, from €0 to -€15,486
- Reserves -€12,300
down €12,300 (-100%), from €12,300 to €0
- Current portion of long-term debt -€8,173
down €8,173 (-93.1%), from €8,781 to €608
- Tax, wage and social debts -€6,301
down €6,301 (-97.8%), from €6,444 to €143
of which Taxes: -€6,280
- Gross operating margin -€44,055
down €44,055, from €27,508 to -€16,547
- Taxes -€3,883
down €3,883 (-96.5%), from €4,024 to €141
- Financial charges -€452
down €452 (-63.4%), from €713 to €261
- Depreciation -€400
down €400 (-3.8%), from €10,403 to €10,004
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 | €86,634 | €10,503 | -€76,131 | -87.9% |
| Fixed assets | 21/28 | €12,307 | €2,304 | -€10,004 | -81.3% |
| Tangible fixed assets | 22/27 | €12,307 | €2,304 | -€10,004 | -81.3% |
| Plant, machinery and equipment | 23 | €725 | €470 | -€255 | -35.2% |
| Furniture and vehicles | 24 | €11,582 | €1,834 | -€9,748 | -84.2% |
| Current assets | 29/58 | €74,327 | €8,199 | -€66,127 | -89.0% |
| Amounts receivable after more than one year | 29 | €25,000 | €0 | -€25,000 | -100% |
| Other amounts receivable | 291 | €25,000 | €0 | -€25,000 | -100% |
| Amounts receivable within one year | 40/41 | €29,860 | €7,043 | -€22,817 | -76.4% |
| Trade receivables | 40 | €12,834 | €67 | -€12,766 | -99.5% |
| Other amounts receivable | 41 | €17,027 | €6,976 | -€10,050 | -59.0% |
| Cash at bank and in hand | 54/58 | €18,671 | €841 | -€17,830 | -95.5% |
| Deferred charges and accrued income | 490/1 | €795 | €315 | -€481 | -60.4% |
| Total equity and liabilities | 10/49 | €86,634 | €10,503 | -€76,131 | -87.9% |
| Equity | 10/15 | €32,300 | €4,514 | -€27,786 | -86.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €12,300 | €0 | -€12,300 | -100% |
| Distributable reserves | 133 | €12,300 | €0 | -€12,300 | -100% |
| Profit (loss) carried forward | 14 | €0 | -€15,486 | -€15,486 | |
| Amounts payable | 17/49 | €54,334 | €5,989 | -€48,345 | -89.0% |
| Amounts payable after more than one year | 17 | €608 | €0 | -€608 | -100% |
| Financial debts | 170/4 | €608 | €0 | -€608 | -100% |
| Amounts payable within one year | 42/48 | €53,725 | €5,989 | -€47,736 | -88.9% |
| Current portion of amounts payable after more than one year | 42 | €8,781 | €608 | -€8,173 | -93.1% |
| Financial debts | 43 | €508 | €0 | -€508 | -100% |
| Credit institutions | 430/8 | €508 | €0 | -€508 | -100% |
| Trade debts | 44 | €2,314 | €476 | -€1,838 | -79.4% |
| Suppliers | 440/4 | €2,314 | €476 | -€1,838 | -79.4% |
| Taxes, remuneration and social security | 45 | €6,444 | €143 | -€6,301 | -97.8% |
| Taxes | 450/3 | €6,423 | €143 | -€6,280 | -97.8% |
| Remuneration and social security | 454/9 | €22 | €0 | -€22 | -100% |
| Other amounts payable | 47/48 | €35,678 | €4,762 | -€30,916 | -86.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,403 | €10,004 | -€400 | -3.8% |
| Other operating charges | 640/8 | €810 | €834 | +€25 | +3.0% |
| Gross operating margin | 9900 | €27,508 | -€16,547 | -€44,055 | |
| Operating profit (loss) | 9901 | €16,296 | -€27,385 | -€43,680 | |
| Financial charges | 65/66B | €713 | €261 | -€452 | -63.4% |
| Recurring financial charges | 65 | €713 | €261 | -€452 | -63.4% |
| Profit (loss) for the period before taxes | 9903 | €15,583 | -€27,645 | -€43,228 | |
| Income taxes | 67/77 | €4,024 | €141 | -€3,883 | -96.5% |
| Profit (loss) for the period | 9904 | €11,559 | -€27,786 | -€39,345 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,559 | -€27,786 | -€39,345 |
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 3 November 2026 via checked.be.