TDRC: 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.
TDRC
Largest movements
- Tangible fixed assets -€2.8m
down €2.8m (-39.4%), from €7.0m to €4.3m
of which Land and buildings: -€2.8m
- Receivables within one year +€2.7m
up €2.7m (+57.4%), from €4.7m to €7.3m
of which Other amounts receivable: +€2.7m
- Financial fixed assets -€525,000
down €525,000 (-11.1%), from €4.7m to €4.2m
- Debts after one year -€925,187
down €925,187 (-24.6%), from €3.8m to €2.8m
- Reserves +€239,949
up €239,949 (+2.2%), from €11.1m to €11.3m
of which Distributable reserves: +€129,759
- Financial income -€4.6m
down €4.6m (-93.9%), from €4.8m to €294,048
- Gross operating margin -€1.6m
down €1.6m (-70.3%), from €2.3m to €686,247
- Provisions +€100,000
new in 2025: €100,000
- Depreciation -€87,041
down €87,041 (-31.3%), from €277,932 to €190,891
- Taxes +€60,522
up €60,522 (+298.8%), from €20,254 to €80,776
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,442,065 | €15,815,992 | -€626,073 | -3.8% |
| Formation expenses | 20 | €376 | €351 | -€25 | -6.7% |
| Fixed assets | 21/28 | €11,774,587 | €8,475,508 | -€3.3m | -28.0% |
| Tangible fixed assets | 22/27 | €7,049,352 | €4,275,272 | -€2.8m | -39.4% |
| Land and buildings | 22 | €7,044,794 | €4,275,272 | -€2.8m | -39.3% |
| Furniture and vehicles | 24 | €4,558 | - | -€4,558 | |
| Financial fixed assets | 28 | €4,725,236 | €4,200,236 | -€525,000 | -11.1% |
| Current assets | 29/58 | €4,667,101 | €7,340,133 | +€2.7m | +57.3% |
| Amounts receivable within one year | 40/41 | €4,655,830 | €7,329,390 | +€2.7m | +57.4% |
| Trade receivables | 40 | €144,508 | €114,262 | -€30,247 | -20.9% |
| Other amounts receivable | 41 | €4,511,321 | €7,215,128 | +€2.7m | +59.9% |
| Deferred charges and accrued income | 490/1 | €11,272 | €10,743 | -€528 | -4.7% |
| Total equity and liabilities | 10/49 | €16,442,065 | €15,815,992 | -€626,073 | -3.8% |
| Equity | 10/15 | €11,152,213 | €11,392,162 | +€239,949 | +2.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €11,090,713 | €11,330,662 | +€239,949 | +2.2% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,461,120 | €1,571,310 | +€110,189 | +7.5% |
| Distributable reserves | 133 | €9,579,593 | €9,709,352 | +€129,759 | +1.4% |
| Provisions and deferred taxes | 16 | €365,280 | €506,809 | +€141,529 | +38.7% |
| Provisions for liabilities and charges | 160/5 | €365,280 | €506,809 | +€141,529 | +38.7% |
| Pensions and similar obligations | 160 | - | €100,000 | +€100,000 | |
| Major repairs and maintenance | 162 | €365,280 | €406,809 | +€41,529 | +11.4% |
| Amounts payable | 17/49 | €4,924,572 | €3,917,021 | -€1.0m | -20.5% |
| Amounts payable after more than one year | 17 | €3,763,300 | €2,838,113 | -€925,187 | -24.6% |
| Financial debts | 170/4 | €3,763,300 | €2,838,113 | -€925,187 | -24.6% |
| Amounts payable within one year | 42/48 | €1,158,186 | €1,074,820 | -€83,366 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €1,015,469 | €925,187 | -€90,282 | -8.9% |
| Trade debts | 44 | €108,670 | €64,766 | -€43,904 | -40.4% |
| Suppliers | 440/4 | €108,670 | €64,766 | -€43,904 | -40.4% |
| Taxes, remuneration and social security | 45 | €34,047 | €84,867 | +€50,820 | +149.3% |
| Taxes | 450/3 | €30,580 | €79,498 | +€48,918 | +160.0% |
| Remuneration and social security | 454/9 | €3,467 | €5,369 | +€1,901 | +54.8% |
| Accrued charges and deferred income | 492/3 | €3,085 | €4,088 | +€1,003 | +32.5% |
| Remuneration, social security and pensions | 62 | €76,557 | €76,641 | +€85 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €277,932 | €190,891 | -€87,041 | -31.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €100,000 | +€100,000 | |
| Other operating charges | 640/8 | €163,905 | €144,143 | -€19,763 | -12.1% |
| Gross operating margin | 9900 | €2,311,604 | €686,247 | -€1.6m | -70.3% |
| Operating profit (loss) | 9901 | €1,793,210 | €174,572 | -€1.6m | -90.3% |
| Financial income | 75/76B | €4,846,531 | €294,048 | -€4.6m | -93.9% |
| Recurring financial income | 75 | €4,846,531 | €294,048 | -€4.6m | -93.9% |
| Financial charges | 65/66B | €129,610 | €106,367 | -€23,242 | -17.9% |
| Recurring financial charges | 65 | €129,610 | €106,367 | -€23,242 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €6,510,132 | €362,254 | -€6.1m | -94.4% |
| Transfer from deferred taxes | 780 | €3 | €14,399 | +€14,396 | +545303.4% |
| Transfer to deferred taxes | 680 | €365,283 | €55,928 | -€309,355 | -84.7% |
| Income taxes | 67/77 | €20,254 | €80,776 | +€60,522 | +298.8% |
| Profit (loss) for the period | 9904 | €6,124,598 | €239,949 | -€5.9m | -96.1% |
| Transfer from tax-exempt reserves | 789 | €11 | €57,595 | +€57,584 | +546338.1% |
| Transfer to tax-exempt reserves | 689 | €1,461,131 | €167,784 | -€1.3m | -88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,663,478 | €129,759 | -€4.5m | -97.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.