TDJ: 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.
What changed
TDJ
NACE 47.770, Retail sale of watches and jewellery
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€308,429
2024 · €205,992+€102,437
Equity
€987,706
2024 · €679,278+€308,429
Cash
€6,336
2024 · €6,629-€293
Balance sheet total
€1.6m
2024 · €1.9m-€281,113
Largest movements
Assets
- Financial fixed assets -€611,439
down €611,439 (-55.0%), from €1.1m to €500,050
- Receivables within one year +€419,345
up €419,345 (+69.7%), from €601,741 to €1.0m
of which Other amounts receivable: +€367,362
- Tangible fixed assets -€85,084
down €85,084 (-56.9%), from €149,408 to €64,324
of which Land and buildings: -€83,549
Equity and liabilities
- Other debts -€358,405
down €358,405 (-92.0%), from €389,460 to €31,055
- Trade debts -€209,801
down €209,801 (-40.9%), from €512,373 to €302,572
- Profit (loss) carried forward +€175,975
up €175,975, from -€96,578 to €79,396
- Reserves +€132,454
up €132,454 (+111.0%), from €119,356 to €251,810
of which Tax-exempt reserves: +€109,460
- Debts after one year -€58,462
down €58,462 (-48.3%), from €121,116 to €62,654
Income statement
- Gross operating margin +€124,849
up €124,849 (+20.6%), from €606,872 to €731,721
- Staff costs +€22,233
up €22,233 (+7.6%), from €294,204 to €316,437
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.
Result 2024
€205,992
Gross operating margin
+€124,849
Staff costs
-€22,233
Depreciation
-€6,550
Other operating charges
+€4,572
Other operating items
-€356
Financial income
+€5,088
Financial charges
+€1,458
Taxes
-€4,391
Result 2025
€308,429
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.
From operations
-€627,562
Investment
+€683,779
Financing
-€56,510
Cash 2024
€6,629
From operations (derived)
-€627,562
Net result for the year
+€308,429
Depreciation
+€17,231
Receivables within one year
-€419,345
Smaller working-capital items
-€517
Trade debts
-€209,801
Tax, wage and social debts
+€34,846
Other debts
-€358,405
Investment (derived)
+€683,779
Investment in fixed assets (net)
+€683,773
Current investments
+€6
Financing
-€56,510
Debts after one year
-€58,462
Current portion of long-term debt
+€1,915
Short-term financial debts
+€37
Cash 2025
€6,336
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,896,318 | €1,615,204 | -€281,113 | -14.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,265,378 | €564,374 | -€701,004 | -55.4% |
| Intangible fixed assets | 21 | €4,481 | €0 | -€4,481 | -100.0% |
| Tangible fixed assets | 22/27 | €149,408 | €64,324 | -€85,084 | -56.9% |
| Land and buildings | 22 | €83,549 | €0 | -€83,549 | -100.0% |
| Plant, machinery and equipment | 23 | €3,435 | €2,707 | -€729 | -21.2% |
| Furniture and vehicles | 24 | €56,155 | €56,177 | +€21 | 0.0% |
| Other tangible fixed assets | 26 | €6,269 | €5,441 | -€829 | -13.2% |
| Financial fixed assets | 28 | €1,111,489 | €500,050 | -€611,439 | -55.0% |
| Current assets | 29/58 | €630,939 | €1,050,830 | +€419,891 | +66.6% |
| Amounts receivable within one year | 40/41 | €601,741 | €1,021,086 | +€419,345 | +69.7% |
| Trade receivables | 40 | €383,502 | €435,484 | +€51,982 | +13.6% |
| Other amounts receivable | 41 | €218,239 | €585,602 | +€367,362 | +168.3% |
| Current investments | 50/53 | €6 | - | -€6 | |
| Cash at bank and in hand | 54/58 | €6,629 | €6,336 | -€293 | -4.4% |
| Deferred charges and accrued income | 490/1 | €22,564 | €23,409 | +€845 | +3.7% |
| Total equity and liabilities | 10/49 | €1,896,318 | €1,615,204 | -€281,113 | -14.8% |
| Equity | 10/15 | €679,278 | €987,706 | +€308,429 | +45.4% |
| Contributions | 10/11 | €656,500 | €656,500 | = | 0.0% |
| Capital | 10 | €656,500 | €656,500 | = | 0.0% |
| Issued capital | 100 | €711,500 | €711,500 | = | 0.0% |
| Uncalled capital | 101 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €119,356 | €251,810 | +€132,454 | +111.0% |
| Non-distributable reserves | 130/1 | €48,156 | €71,150 | +€22,994 | +47.7% |
| Legal reserve | 130 | €48,156 | €71,150 | +€22,994 | +47.7% |
| Tax-exempt reserves | 132 | €0 | €109,460 | +€109,460 | |
| Distributable reserves | 133 | €71,200 | €71,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€96,578 | €79,396 | +€175,975 | |
| Amounts payable | 17/49 | €1,217,040 | €627,498 | -€589,542 | -48.4% |
| Amounts payable after more than one year | 17 | €121,116 | €62,654 | -€58,462 | -48.3% |
| Financial debts | 170/4 | €121,116 | €62,654 | -€58,462 | -48.3% |
| Amounts payable within one year | 42/48 | €1,095,924 | €564,515 | -€531,409 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €61,338 | €63,253 | +€1,915 | +3.1% |
| Financial debts | 43 | - | €37 | +€37 | |
| Credit institutions | 430/8 | - | €37 | +€37 | |
| Trade debts | 44 | €512,373 | €302,572 | -€209,801 | -40.9% |
| Suppliers | 440/4 | €512,373 | €302,572 | -€209,801 | -40.9% |
| Taxes, remuneration and social security | 45 | €132,754 | €167,599 | +€34,846 | +26.2% |
| Taxes | 450/3 | €98,789 | €128,959 | +€30,170 | +30.5% |
| Remuneration and social security | 454/9 | €33,964 | €38,640 | +€4,676 | +13.8% |
| Other amounts payable | 47/48 | €389,460 | €31,055 | -€358,405 | -92.0% |
| Accrued charges and deferred income | 492/3 | - | €328 | +€328 | |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | €294,204 | €316,437 | +€22,233 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,681 | €17,231 | +€6,550 | +61.3% |
| Other operating charges | 640/8 | €6,939 | €2,367 | -€4,572 | -65.9% |
| Non-recurring operating charges | 66A | - | €356 | +€356 | |
| Gross operating margin | 9900 | €606,872 | €731,721 | +€124,849 | +20.6% |
| Operating profit (loss) | 9901 | €295,047 | €395,329 | +€100,282 | +34.0% |
| Financial income | 75/76B | €1,037 | €6,125 | +€5,088 | +490.8% |
| Recurring financial income | 75 | €1,037 | €4,889 | +€3,853 | +371.6% |
| Non-recurring financial income | 76B | - | €1,235 | +€1,235 | |
| Financial charges | 65/66B | €7,912 | €6,454 | -€1,458 | -18.4% |
| Recurring financial charges | 65 | €7,912 | €6,454 | -€1,458 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €288,172 | €395,000 | +€106,828 | +37.1% |
| Income taxes | 67/77 | €82,180 | €86,571 | +€4,391 | +5.3% |
| Profit (loss) for the period | 9904 | €205,992 | €308,429 | +€102,437 | +49.7% |
| Transfer from tax-exempt reserves | 789 | €71,200 | - | -€71,200 | |
| Transfer to tax-exempt reserves | 689 | - | €109,460 | +€109,460 | |
| Profit (loss) for the period to be appropriated | 9905 | €277,192 | €198,969 | -€78,223 | -28.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.