TDRB: 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.
TDRB
Largest movements
- Receivables within one year +€284,857
up €284,857 (+76.7%), from €371,512 to €656,368
of which Trade receivables: +€293,564
- Tangible fixed assets -€256,482
down €256,482 (-19.8%), from €1.3m to €1.0m
of which Furniture and vehicles: -€161,882
- Deferred charges and accrued income -€25,443
down €25,443 (-68.5%), from €37,153 to €11,710
- Cash -€24,823
down €24,823 (-67.6%), from €36,721 to €11,897
mainly Receivables within one year (-€284,857) and Debts after one year (-€154,508)
- Debts after one year -€154,508
down €154,508 (-13.9%), from €1.1m to €953,611
of which Financial debts: -€157,980
- Trade debts +€146,285
up €146,285 (+64.2%), from €227,919 to €374,204
- Profit (loss) carried forward +€25,758
up €25,758 (+70.3%), from -€36,644 to -€10,886
- Current portion of long-term debt -€22,801
down €22,801 (-12.6%), from €180,782 to €157,980
- Gross operating margin -€125,500
down €125,500 (-12.7%), from €984,432 to €858,931
- Staff costs -€108,115
down €108,115 (-18.6%), from €581,218 to €473,103
- Depreciation -€29,908
down €29,908 (-10.6%), from €281,116 to €251,208
- Other operating charges -€19,706
down €19,706 (-22.8%), from €86,417 to €66,710
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 | €1,755,322 | €1,733,431 | -€21,891 | -1.2% |
| Fixed assets | 21/28 | €1,294,937 | €1,038,455 | -€256,482 | -19.8% |
| Tangible fixed assets | 22/27 | €1,294,397 | €1,037,915 | -€256,482 | -19.8% |
| Plant, machinery and equipment | 23 | €22,799 | €20,414 | -€2,386 | -10.5% |
| Furniture and vehicles | 24 | €819,371 | €657,490 | -€161,882 | -19.8% |
| Leasing and similar rights | 25 | €452,226 | €360,012 | -€92,215 | -20.4% |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €460,385 | €694,976 | +€234,591 | +51.0% |
| Stocks and contracts in progress | 3 | €15,000 | €15,000 | = | 0.0% |
| Stocks | 30/36 | €15,000 | €15,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €371,512 | €656,368 | +€284,857 | +76.7% |
| Trade receivables | 40 | €310,103 | €603,667 | +€293,564 | +94.7% |
| Other amounts receivable | 41 | €61,409 | €52,702 | -€8,708 | -14.2% |
| Cash at bank and in hand | 54/58 | €36,721 | €11,897 | -€24,823 | -67.6% |
| Deferred charges and accrued income | 490/1 | €37,153 | €11,710 | -€25,443 | -68.5% |
| Total equity and liabilities | 10/49 | €1,755,322 | €1,733,431 | -€21,891 | -1.2% |
| Equity | 10/15 | €151,637 | €164,061 | +€12,425 | +8.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,644 | -€10,886 | +€25,758 | +70.3% |
| Investment grants | 15 | €169,680 | €156,347 | -€13,333 | -7.9% |
| Amounts payable | 17/49 | €1,603,686 | €1,569,370 | -€34,316 | -2.1% |
| Amounts payable after more than one year | 17 | €1,108,119 | €953,611 | -€154,508 | -13.9% |
| Financial debts | 170/4 | €789,962 | €631,982 | -€157,980 | -20.0% |
| Other amounts payable | 178/9 | €318,157 | €321,630 | +€3,473 | +1.1% |
| Amounts payable within one year | 42/48 | €479,659 | €593,488 | +€113,829 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €180,782 | €157,980 | -€22,801 | -12.6% |
| Trade debts | 44 | €227,919 | €374,204 | +€146,285 | +64.2% |
| Suppliers | 440/4 | €227,919 | €374,204 | +€146,285 | +64.2% |
| Taxes, remuneration and social security | 45 | €70,959 | €61,303 | -€9,655 | -13.6% |
| Taxes | 450/3 | €19,810 | €12,617 | -€7,193 | -36.3% |
| Remuneration and social security | 454/9 | €51,149 | €48,686 | -€2,462 | -4.8% |
| Accrued charges and deferred income | 492/3 | €15,908 | €22,271 | +€6,363 | +40.0% |
| Remuneration, social security and pensions | 62 | €581,218 | €473,103 | -€108,115 | -18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €281,116 | €251,208 | -€29,908 | -10.6% |
| Other operating charges | 640/8 | €86,417 | €66,710 | -€19,706 | -22.8% |
| Non-recurring operating charges | 66A | €2,575 | €2,161 | -€414 | -16.1% |
| Gross operating margin | 9900 | €984,432 | €858,931 | -€125,500 | -12.7% |
| Operating profit (loss) | 9901 | €33,107 | €65,749 | +€32,642 | +98.6% |
| Financial income | 75/76B | €13,333 | €13,333 | = | 0.0% |
| Recurring financial income | 75 | €13,333 | €13,333 | = | 0.0% |
| Financial charges | 65/66B | €47,159 | €43,242 | -€3,917 | -8.3% |
| Recurring financial charges | 65 | €47,159 | €43,242 | -€3,917 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | -€719 | €35,840 | +€36,559 | |
| Income taxes | 67/77 | €933 | €10,082 | +€9,149 | +980.6% |
| Profit (loss) for the period | 9904 | -€1,652 | €25,758 | +€27,410 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,652 | €25,758 | +€27,410 |
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 10 October 2026 via checked.be.