TDR HOLDING: 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.
TDR HOLDING
Largest movements
- Tangible fixed assets -€12,285
down €12,285 (-18.1%), from €67,974 to €55,689
of which Other tangible fixed assets: -€9,380
- Debts after one year -€10,286
down €10,286 (-41.6%), from €24,741 to €14,455
- Current portion of long-term debt -€7,394
down €7,394 (-18.0%), from €41,083 to €33,689
- Gross operating margin +€26,911
up €26,911 (+13.9%), from €193,790 to €220,701
- Taxes +€6,990
up €6,990 (+14.9%), from €46,948 to €53,938
- Financial charges -€2,458
down €2,458 (-48.7%), from €5,044 to €2,585
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 | €720,568 | €703,688 | -€16,880 | -2.3% |
| Fixed assets | 21/28 | €667,974 | €655,689 | -€12,285 | -1.8% |
| Tangible fixed assets | 22/27 | €67,974 | €55,689 | -€12,285 | -18.1% |
| Furniture and vehicles | 24 | €10,681 | €7,777 | -€2,905 | -27.2% |
| Other tangible fixed assets | 26 | €57,293 | €47,913 | -€9,380 | -16.4% |
| Financial fixed assets | 28 | €600,000 | €600,000 | = | 0.0% |
| Current assets | 29/58 | €52,594 | €47,999 | -€4,595 | -8.7% |
| Amounts receivable within one year | 40/41 | €28,454 | €29,078 | +€623 | +2.2% |
| Trade receivables | 40 | €27,830 | €29,078 | +€1,248 | +4.5% |
| Other amounts receivable | 41 | €624 | - | -€624 | |
| Cash at bank and in hand | 54/58 | €21,194 | €16,351 | -€4,844 | -22.9% |
| Deferred charges and accrued income | 490/1 | €2,945 | €2,571 | -€375 | -12.7% |
| Total equity and liabilities | 10/49 | €720,568 | €703,688 | -€16,880 | -2.3% |
| Equity | 10/15 | €638,162 | €638,556 | +€394 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €619,562 | €619,956 | +€394 | +0.1% |
| Distributable reserves | 133 | €619,562 | €619,956 | +€394 | +0.1% |
| Amounts payable | 17/49 | €82,406 | €65,132 | -€17,274 | -21.0% |
| Amounts payable after more than one year | 17 | €24,741 | €14,455 | -€10,286 | -41.6% |
| Financial debts | 170/4 | €24,741 | €14,455 | -€10,286 | -41.6% |
| Amounts payable within one year | 42/48 | €57,665 | €50,677 | -€6,988 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €41,083 | €33,689 | -€7,394 | -18.0% |
| Trade debts | 44 | €3,588 | €1,756 | -€1,833 | -51.1% |
| Suppliers | 440/4 | €3,588 | €1,756 | -€1,833 | -51.1% |
| Taxes, remuneration and social security | 45 | €12,994 | €15,232 | +€2,238 | +17.2% |
| Taxes | 450/3 | €12,994 | €15,232 | +€2,238 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,551 | €12,285 | -€266 | -2.1% |
| Other operating charges | 640/8 | €1,372 | €1,499 | +€128 | +9.3% |
| Gross operating margin | 9900 | €193,790 | €220,701 | +€26,911 | +13.9% |
| Operating profit (loss) | 9901 | €179,868 | €206,917 | +€27,049 | +15.0% |
| Financial charges | 65/66B | €5,044 | €2,585 | -€2,458 | -48.7% |
| Recurring financial charges | 65 | €5,044 | €2,585 | -€2,458 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €174,825 | €204,332 | +€29,507 | +16.9% |
| Income taxes | 67/77 | €46,948 | €53,938 | +€6,990 | +14.9% |
| Profit (loss) for the period | 9904 | €127,876 | €150,394 | +€22,518 | +17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €127,876 | €150,394 | +€22,518 | +17.6% |
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 23 October 2026 via checked.be.