TDK-WINdow: 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.
TDK-WINdow
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+93.7%), from €1.4m to €2.6m
of which Trade receivables: +€1.3m
- Cash -€399,780
down €399,780 (-74.6%), from €536,066 to €136,286
mainly Receivables within one year (-€1.3m) and Contributions, distributions and other (-€61,974)
- Stocks and contracts -€42,377
down €42,377 (-31.6%), from €133,982 to €91,605
- Reserves +€689,481
up €689,481 (+39.5%), from €1.7m to €2.4m
of which Distributable reserves: +€689,481
- Tax, wage and social debts +€81,961
up €81,961 (+73.3%), from €111,759 to €193,720
of which Taxes: +€90,468
- Current portion of long-term debt +€59,100
up €59,100 (+882.5%), from €6,697 to €65,797
- Gross operating margin +€567,011
up €567,011 (+52.6%), from €1.1m to €1.6m
- Taxes +€170,706
up €170,706 (+93.2%), from €183,126 to €353,832
- Staff costs +€22,077
up €22,077 (+4.0%), from €547,402 to €569,480
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 | €2,184,026 | €2,996,318 | +€812,292 | +37.2% |
| Fixed assets | 21/28 | €41,778 | €28,374 | -€13,405 | -32.1% |
| Tangible fixed assets | 22/27 | €41,778 | €28,374 | -€13,405 | -32.1% |
| Land and buildings | 22 | €393 | - | -€393 | |
| Plant, machinery and equipment | 23 | €18,056 | €11,889 | -€6,166 | -34.2% |
| Furniture and vehicles | 24 | €23,329 | €16,484 | -€6,845 | -29.3% |
| Current assets | 29/58 | €2,142,248 | €2,967,944 | +€825,697 | +38.5% |
| Amounts receivable after more than one year | 29 | €55,068 | €56,445 | +€1,377 | +2.5% |
| Other amounts receivable | 291 | €55,068 | €56,445 | +€1,377 | +2.5% |
| Stocks and contracts in progress | 3 | €133,982 | €91,605 | -€42,377 | -31.6% |
| Stocks | 30/36 | €133,982 | €91,605 | -€42,377 | -31.6% |
| Amounts receivable within one year | 40/41 | €1,351,230 | €2,617,882 | +€1.3m | +93.7% |
| Trade receivables | 40 | €1,203,798 | €2,545,748 | +€1.3m | +111.5% |
| Other amounts receivable | 41 | €147,433 | €72,134 | -€75,298 | -51.1% |
| Current investments | 50/53 | €60,000 | €60,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €536,066 | €136,286 | -€399,780 | -74.6% |
| Deferred charges and accrued income | 490/1 | €5,901 | €5,726 | -€175 | -3.0% |
| Total equity and liabilities | 10/49 | €2,184,026 | €2,996,318 | +€812,292 | +37.2% |
| Equity | 10/15 | €1,763,715 | €2,453,196 | +€689,481 | +39.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,743,715 | €2,433,196 | +€689,481 | +39.5% |
| Non-distributable reserves | 130/1 | €62,000 | €62,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €62,000 | €62,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €273 | €273 | = | 0.0% |
| Distributable reserves | 133 | €1,681,442 | €2,370,923 | +€689,481 | +41.0% |
| Amounts payable | 17/49 | €420,311 | €543,122 | +€122,810 | +29.2% |
| Amounts payable after more than one year | 17 | €17,976 | €11,002 | -€6,973 | -38.8% |
| Financial debts | 170/4 | €17,976 | €11,002 | -€6,973 | -38.8% |
| Amounts payable within one year | 42/48 | €402,336 | €532,119 | +€129,784 | +32.3% |
| Current portion of amounts payable after more than one year | 42 | €6,697 | €65,797 | +€59,100 | +882.5% |
| Trade debts | 44 | €246,754 | €244,758 | -€1,996 | -0.8% |
| Suppliers | 440/4 | €246,754 | €244,758 | -€1,996 | -0.8% |
| Taxes, remuneration and social security | 45 | €111,759 | €193,720 | +€81,961 | +73.3% |
| Taxes | 450/3 | €63,206 | €153,675 | +€90,468 | +143.1% |
| Remuneration and social security | 454/9 | €48,553 | €40,045 | -€8,507 | -17.5% |
| Other amounts payable | 47/48 | €37,125 | €27,844 | -€9,281 | -25.0% |
| Non-recurring operating income | 76A | €500 | - | -€500 | |
| Remuneration, social security and pensions | 62 | €547,402 | €569,480 | +€22,077 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,456 | €13,405 | +€948 | +7.6% |
| Other operating charges | 640/8 | €3,305 | €2,845 | -€460 | -13.9% |
| Gross operating margin | 9900 | €1,077,542 | €1,644,554 | +€567,011 | +52.6% |
| Operating profit (loss) | 9901 | €514,379 | €1,058,824 | +€544,445 | +105.8% |
| Financial income | 75/76B | €53,875 | €49,868 | -€4,006 | -7.4% |
| Recurring financial income | 75 | €53,875 | €49,868 | -€4,006 | -7.4% |
| Financial charges | 65/66B | €1,632 | €3,406 | +€1,774 | +108.8% |
| Recurring financial charges | 65 | €1,632 | €3,406 | +€1,774 | +108.8% |
| Profit (loss) for the period before taxes | 9903 | €566,622 | €1,105,287 | +€538,665 | +95.1% |
| Income taxes | 67/77 | €183,126 | €353,832 | +€170,706 | +93.2% |
| Profit (loss) for the period | 9904 | €383,496 | €751,455 | +€367,959 | +95.9% |
| Profit (loss) for the period to be appropriated | 9905 | €383,496 | €751,455 | +€367,959 | +95.9% |
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 7 October 2026 via checked.be.