TDS: 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.
TDS
Largest movements
- Cash -€183,807
down €183,807 (-56.6%), from €324,701 to €140,894
mainly Investment in fixed assets (net) (-€101,915) and Tax, wage and social debts (-€66,992)
- Tangible fixed assets +€78,092
up €78,092 (+96.8%), from €80,633 to €158,725
of which Furniture and vehicles: +€56,155
- Receivables within one year +€66,485
up €66,485 (+9.9%), from €670,047 to €736,531
of which Other amounts receivable: +€165,356
- Current investments +€60,000
up €60,000 (+25.0%), from €239,668 to €299,668
- Tax, wage and social debts -€66,992
down €66,992 (-71.0%), from €94,340 to €27,348
of which Taxes: -€52,663
- Reserves +€43,333
up €43,333 (+4.8%), from €903,036 to €946,369
of which Distributable reserves: +€43,333
- Debts after one year +€21,245
up €21,245 (+124.2%), from €17,111 to €38,356
- Trade debts +€18,575
up €18,575 (+984.9%), from €1,886 to €20,461
- Gross operating margin -€77,153
down €77,153 (-19.2%), from €402,386 to €325,233
- Write-downs -€25,037
no longer reported in 2025 (was €25,037)
- Taxes -€21,569
down €21,569 (-50.6%), from €42,627 to €21,058
- Staff costs +€16,798
up €16,798 (+7.7%), from €218,916 to €235,714
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 | €1,341,554 | €1,369,888 | +€28,334 | +2.1% |
| Fixed assets | 21/28 | €80,633 | €158,725 | +€78,092 | +96.8% |
| Tangible fixed assets | 22/27 | €80,633 | €158,725 | +€78,092 | +96.8% |
| Land and buildings | 22 | €15,490 | €13,761 | -€1,729 | -11.2% |
| Plant, machinery and equipment | 23 | €10,720 | €34,386 | +€23,666 | +220.8% |
| Furniture and vehicles | 24 | €54,423 | €110,578 | +€56,155 | +103.2% |
| Current assets | 29/58 | €1,260,921 | €1,211,163 | -€49,758 | -3.9% |
| 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 | €670,047 | €736,531 | +€66,485 | +9.9% |
| Trade receivables | 40 | €293,247 | €194,375 | -€98,872 | -33.7% |
| Other amounts receivable | 41 | €376,799 | €542,156 | +€165,356 | +43.9% |
| Current investments | 50/53 | €239,668 | €299,668 | +€60,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €324,701 | €140,894 | -€183,807 | -56.6% |
| Deferred charges and accrued income | 490/1 | €11,505 | €19,070 | +€7,565 | +65.7% |
| Total equity and liabilities | 10/49 | €1,341,554 | €1,369,888 | +€28,334 | +2.1% |
| Equity | 10/15 | €1,194,703 | €1,238,036 | +€43,333 | +3.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €903,036 | €946,369 | +€43,333 | +4.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €901,177 | €944,510 | +€43,333 | +4.8% |
| Profit (loss) carried forward | 14 | €273,075 | €273,075 | = | 0.0% |
| Amounts payable | 17/49 | €146,851 | €131,852 | -€14,999 | -10.2% |
| Amounts payable after more than one year | 17 | €17,111 | €38,356 | +€21,245 | +124.2% |
| Financial debts | 170/4 | €17,111 | €38,356 | +€21,245 | +124.2% |
| Amounts payable within one year | 42/48 | €129,740 | €93,496 | -€36,244 | -27.9% |
| Current portion of amounts payable after more than one year | 42 | €33,514 | €45,687 | +€12,173 | +36.3% |
| Trade debts | 44 | €1,886 | €20,461 | +€18,575 | +984.9% |
| Suppliers | 440/4 | €1,886 | €20,461 | +€18,575 | +984.9% |
| Taxes, remuneration and social security | 45 | €94,340 | €27,348 | -€66,992 | -71.0% |
| Taxes | 450/3 | €52,663 | €0 | -€52,663 | -100.0% |
| Remuneration and social security | 454/9 | €41,677 | €27,348 | -€14,329 | -34.4% |
| Remuneration, social security and pensions | 62 | €218,916 | €235,714 | +€16,798 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,166 | €23,823 | +€3,657 | +18.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,037 | - | -€25,037 | |
| Other operating charges | 640/8 | €4,698 | €6,673 | +€1,975 | +42.0% |
| Gross operating margin | 9900 | €402,386 | €325,233 | -€77,153 | -19.2% |
| Operating profit (loss) | 9901 | €133,570 | €59,023 | -€74,547 | -55.8% |
| Financial income | 75/76B | €15,869 | €13,939 | -€1,930 | -12.2% |
| Recurring financial income | 75 | €15,869 | €13,939 | -€1,930 | -12.2% |
| Financial charges | 65/66B | €5,842 | €8,571 | +€2,729 | +46.7% |
| Recurring financial charges | 65 | €5,842 | €8,571 | +€2,729 | +46.7% |
| Profit (loss) for the period before taxes | 9903 | €143,597 | €64,390 | -€79,206 | -55.2% |
| Income taxes | 67/77 | €42,627 | €21,058 | -€21,569 | -50.6% |
| Profit (loss) for the period | 9904 | €100,970 | €43,333 | -€57,637 | -57.1% |
| Profit (loss) for the period to be appropriated | 9905 | €100,970 | €43,333 | -€57,637 | -57.1% |
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 12 October 2026 via checked.be.