TDN SERVICES: what changed
Two financial 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.
TDN SERVICES
Largest movements
- Receivables within one year +€8,450
up €8,450 (+35.9%), from €23,510 to €31,961
of which Trade receivables: +€6,700
- Tangible fixed assets -€7,469
down €7,469 (-2.2%), from €345,789 to €338,320
of which Land and buildings: -€7,755
- Other debts +€65,481
new in 2025: €65,481
- Reserves -€64,249
down €64,249 (-84.4%), from €76,133 to €11,884
of which Distributable reserves: -€64,249
- Gross operating margin -€15,694
down €15,694 (-25.4%), from €61,826 to €46,131
- Other operating charges -€4,336
down €4,336 (-63.9%), from €6,783 to €2,447
- Taxes -€1,811
down €1,811 (-28.6%), from €6,343 to €4,532
- Financial charges -€1,033
down €1,033 (-6.9%), from €14,974 to €13,941
- Depreciation -€821
down €821 (-5.1%), from €16,150 to €15,329
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.
Derived cash bridge
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 | €396,393 | €394,629 | -€1,764 | -0.4% |
| Fixed assets | 21/28 | €346,490 | €339,021 | -€7,469 | -2.2% |
| Tangible fixed assets | 22/27 | €345,789 | €338,320 | -€7,469 | -2.2% |
| Land and buildings | 22 | €304,477 | €296,721 | -€7,755 | -2.5% |
| Plant, machinery and equipment | 23 | €23,143 | €20,437 | -€2,705 | -11.7% |
| Furniture and vehicles | 24 | €4,685 | €7,676 | +€2,991 | +63.9% |
| Other tangible fixed assets | 26 | €13,485 | €13,485 | = | 0.0% |
| Financial fixed assets | 28 | €701 | €701 | = | 0.0% |
| Current assets | 29/58 | €49,902 | €55,608 | +€5,705 | +11.4% |
| Stocks and contracts in progress | 3 | €15,399 | €12,350 | -€3,049 | -19.8% |
| Stocks | 30/36 | €15,399 | €12,350 | -€3,049 | -19.8% |
| Amounts receivable within one year | 40/41 | €23,510 | €31,961 | +€8,450 | +35.9% |
| Trade receivables | 40 | €17,792 | €24,492 | +€6,700 | +37.7% |
| Other amounts receivable | 41 | €5,718 | €7,469 | +€1,751 | +30.6% |
| Cash at bank and in hand | 54/58 | €10,130 | €10,977 | +€847 | +8.4% |
| Deferred charges and accrued income | 490/1 | €863 | €320 | -€543 | -62.9% |
| Total equity and liabilities | 10/49 | €396,393 | €394,629 | -€1,764 | -0.4% |
| Equity | 10/15 | €96,133 | €31,884 | -€64,249 | -66.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €76,133 | €11,884 | -€64,249 | -84.4% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €74,133 | €9,884 | -€64,249 | -86.7% |
| Amounts payable | 17/49 | €300,260 | €362,745 | +€62,485 | +20.8% |
| Amounts payable after more than one year | 17 | €267,089 | €264,248 | -€2,842 | -1.1% |
| Financial debts | 170/4 | €267,089 | €264,248 | -€2,842 | -1.1% |
| Amounts payable within one year | 42/48 | €29,753 | €93,730 | +€63,977 | +215% |
| Current portion of amounts payable after more than one year | 42 | €14,980 | €15,583 | +€603 | +4.0% |
| Trade debts | 44 | €5,242 | €2,140 | -€3,102 | -59.2% |
| Suppliers | 440/4 | €5,242 | €2,140 | -€3,102 | -59.2% |
| Taxes, remuneration and social security | 45 | €9,531 | €10,526 | +€996 | +10.4% |
| Taxes | 450/3 | €9,531 | €10,526 | +€996 | +10.4% |
| Other amounts payable | 47/48 | - | €65,481 | +€65,481 | |
| Accrued charges and deferred income | 492/3 | €3,418 | €4,767 | +€1,349 | +39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,150 | €15,329 | -€821 | -5.1% |
| Other operating charges | 640/8 | €6,783 | €2,447 | -€4,336 | -63.9% |
| Gross operating margin | 9900 | €61,826 | €46,131 | -€15,694 | -25.4% |
| Operating profit (loss) | 9901 | €38,893 | €28,355 | -€10,538 | -27.1% |
| Financial income | 75/76B | €15 | €2 | -€12 | -85.2% |
| Recurring financial income | 75 | €15 | €2 | -€12 | -85.2% |
| Financial charges | 65/66B | €14,974 | €13,941 | -€1,033 | -6.9% |
| Recurring financial charges | 65 | €14,974 | €13,941 | -€1,033 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €23,934 | €14,416 | -€9,517 | -39.8% |
| Income taxes | 67/77 | €6,343 | €4,532 | -€1,811 | -28.6% |
| Profit (loss) for the period | 9904 | €17,591 | €9,884 | -€7,706 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €17,591 | €9,884 | -€7,706 | -43.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.