TDIV: 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.
TDIV
Largest movements
- Stocks and contracts -€22,552
down €22,552 (-100.0%), from €22,552 to €0
- Tangible fixed assets -€14,118
down €14,118 (-2.3%), from €623,653 to €609,535
- Deferred charges and accrued income +€11,736
up €11,736 (+13.3%), from €88,508 to €100,244
- Cash -€11,061
down €11,061 (-48.7%), from €22,712 to €11,651
mainly Net result for the year (-€138,499) and Tax, wage and social debts (-€16,606)
- Profit (loss) carried forward -€138,499
down €138,499 (-75.0%), from -€184,600 to -€323,099
- Other debts +€108,795
up €108,795 (+17458.0%), from €623 to €109,418
- Trade debts +€17,153
up €17,153 (+68.2%), from €25,137 to €42,290
- Tax, wage and social debts -€16,606
down €16,606 (-47.0%), from €35,310 to €18,703
of which Remuneration and social security: -€13,659
- Gross operating margin -€153,466
down €153,466, from €135,979 to -€17,487
- Staff costs -€39,951
down €39,951 (-35.2%), from €113,557 to €73,606
- Financial charges +€34,057
up €34,057 (+338.1%), from €10,073 to €44,130
of which Non-recurring financial charges: +€37,910
- Financial income +€21,516
new in 2025: €21,516
of which Financial income: +€21,516
- Depreciation -€8,583
down €8,583 (-37.8%), from €22,700 to €14,118
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 | €886,932 | €847,945 | -€38,988 | -4.4% |
| Fixed assets | 21/28 | €630,778 | €616,660 | -€14,118 | -2.2% |
| Tangible fixed assets | 22/27 | €623,653 | €609,535 | -€14,118 | -2.3% |
| Land and buildings | 22 | €614,995 | €608,449 | -€6,547 | -1.1% |
| Furniture and vehicles | 24 | €6,175 | €0 | -€6,175 | -100.0% |
| Leasing and similar rights | 25 | €1,966 | €983 | -€983 | -50.0% |
| Other tangible fixed assets | 26 | €517 | €103 | -€414 | -80.0% |
| Financial fixed assets | 28 | €7,125 | €7,125 | = | 0.0% |
| Current assets | 29/58 | €256,154 | €231,284 | -€24,870 | -9.7% |
| Stocks and contracts in progress | 3 | €22,552 | €0 | -€22,552 | -100.0% |
| Stocks | 30/36 | €22,552 | €0 | -€22,552 | -100.0% |
| Amounts receivable within one year | 40/41 | €122,383 | €119,390 | -€2,993 | -2.4% |
| Trade receivables | 40 | €118,017 | €103,131 | -€14,886 | -12.6% |
| Other amounts receivable | 41 | €4,365 | €16,259 | +€11,894 | +272.5% |
| Cash at bank and in hand | 54/58 | €22,712 | €11,651 | -€11,061 | -48.7% |
| Deferred charges and accrued income | 490/1 | €88,508 | €100,244 | +€11,736 | +13.3% |
| Total equity and liabilities | 10/49 | €886,932 | €847,945 | -€38,988 | -4.4% |
| Equity | 10/15 | €326,244 | €187,745 | -€138,499 | -42.5% |
| Contributions | 10/11 | €8,057 | €8,057 | = | 0.0% |
| Revaluation surpluses | 12 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €2,788 | €2,788 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,788 | €2,788 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€184,600 | -€323,099 | -€138,499 | -75.0% |
| Amounts payable | 17/49 | €560,688 | €660,200 | +€99,512 | +17.7% |
| Amounts payable after more than one year | 17 | €417,754 | €414,789 | -€2,964 | -0.7% |
| Financial debts | 170/4 | €417,754 | €414,789 | -€2,964 | -0.7% |
| Amounts payable within one year | 42/48 | €142,934 | €245,410 | +€102,476 | +71.7% |
| Current portion of amounts payable after more than one year | 42 | €6,865 | - | -€6,865 | |
| Financial debts | 43 | €75,000 | €75,000 | = | 0.0% |
| Credit institutions | 430/8 | €75,000 | €75,000 | = | 0.0% |
| Trade debts | 44 | €25,137 | €42,290 | +€17,153 | +68.2% |
| Suppliers | 440/4 | €25,137 | €42,290 | +€17,153 | +68.2% |
| Taxes, remuneration and social security | 45 | €35,310 | €18,703 | -€16,606 | -47.0% |
| Taxes | 450/3 | €3,688 | €741 | -€2,947 | -79.9% |
| Remuneration and social security | 454/9 | €31,622 | €17,963 | -€13,659 | -43.2% |
| Other amounts payable | 47/48 | €623 | €109,418 | +€108,795 | +17458.0% |
| Remuneration, social security and pensions | 62 | €113,557 | €73,606 | -€39,951 | -35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,700 | €14,118 | -€8,583 | -37.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,804 | +€1,804 | |
| Other operating charges | 640/8 | €11,208 | €8,518 | -€2,690 | -24.0% |
| Non-recurring operating charges | 66A | €25,558 | - | -€25,558 | |
| Gross operating margin | 9900 | €135,979 | -€17,487 | -€153,466 | |
| Operating profit (loss) | 9901 | -€37,045 | -€115,533 | -€78,488 | -211.9% |
| Financial income | 75/76B | - | €21,516 | +€21,516 | |
| Recurring financial income | 75 | - | €21,516 | +€21,516 | |
| Non-recurring financial income | 76B | - | €21,516 | +€21,516 | |
| Financial charges | 65/66B | €10,073 | €44,130 | +€34,057 | +338.1% |
| Recurring financial charges | 65 | €10,073 | €6,220 | -€3,854 | -38.3% |
| Non-recurring financial charges | 66B | - | €37,910 | +€37,910 | |
| Profit (loss) for the period before taxes | 9903 | -€47,119 | -€138,147 | -€91,028 | -193.2% |
| Income taxes | 67/77 | €360 | €352 | -€7 | -2.1% |
| Profit (loss) for the period | 9904 | -€47,479 | -€138,499 | -€91,021 | -191.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,479 | -€138,499 | -€91,021 | -191.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.