TDS: what changed
Two fiscal 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
- Receivables within one year -€18,228
down €18,228 (-20.4%), from €89,564 to €71,337
of which Trade receivables: -€19,531
- Tangible fixed assets -€16,138
down €16,138 (-7.2%), from €222,646 to €206,508
of which Furniture and vehicles: -€12,520
- Cash -€14,712
down €14,712 (-55.1%), from €26,677 to €11,965
mainly Contributions, distributions and other (-€95,000) and Debts after one year (-€18,457)
- Reserves -€41,500
down €41,500 (-83.0%), from €50,000 to €8,500
- Debts after one year -€18,457
down €18,457 (-13.0%), from €141,782 to €123,325
- Other debts +€13,028
up €13,028 (+13.6%), from €95,767 to €108,795
- Gross operating margin -€1,109
down €1,109 (-1.2%), from €95,089 to €93,979
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 | €339,109 | €291,044 | -€48,065 | -14.2% |
| Fixed assets | 21/28 | €222,646 | €206,508 | -€16,138 | -7.2% |
| Tangible fixed assets | 22/27 | €222,646 | €206,508 | -€16,138 | -7.2% |
| Land and buildings | 22 | €180,182 | €176,563 | -€3,618 | -2.0% |
| Furniture and vehicles | 24 | €42,465 | €29,945 | -€12,520 | -29.5% |
| Current assets | 29/58 | €116,463 | €84,536 | -€31,927 | -27.4% |
| Amounts receivable within one year | 40/41 | €89,564 | €71,337 | -€18,228 | -20.4% |
| Trade receivables | 40 | €89,564 | €70,034 | -€19,531 | -21.8% |
| Other amounts receivable | 41 | €0 | €1,303 | +€1,303 | |
| Cash at bank and in hand | 54/58 | €26,677 | €11,965 | -€14,712 | -55.1% |
| Deferred charges and accrued income | 490/1 | €221 | €1,234 | +€1,013 | +457.4% |
| Total equity and liabilities | 10/49 | €339,109 | €291,044 | -€48,065 | -14.2% |
| Equity | 10/15 | €51,928 | €9,093 | -€42,835 | -82.5% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €50,000 | €8,500 | -€41,500 | -83.0% |
| Distributable reserves | 133 | €50,000 | €8,500 | -€41,500 | -83.0% |
| Profit (loss) carried forward | 14 | €1,428 | €93 | -€1,335 | -93.5% |
| Amounts payable | 17/49 | €287,182 | €281,952 | -€5,230 | -1.8% |
| Amounts payable after more than one year | 17 | €141,782 | €123,325 | -€18,457 | -13.0% |
| Financial debts | 170/4 | €141,782 | €123,325 | -€18,457 | -13.0% |
| Amounts payable within one year | 42/48 | €145,049 | €158,602 | +€13,553 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €17,907 | €18,457 | +€550 | +3.1% |
| Trade debts | 44 | €270 | €2,522 | +€2,252 | +833.9% |
| Suppliers | 440/4 | €270 | €2,522 | +€2,252 | +833.9% |
| Taxes, remuneration and social security | 45 | €31,105 | €28,828 | -€2,277 | -7.3% |
| Taxes | 450/3 | €31,105 | €28,828 | -€2,277 | -7.3% |
| Other amounts payable | 47/48 | €95,767 | €108,795 | +€13,028 | +13.6% |
| Accrued charges and deferred income | 492/3 | €350 | €24 | -€326 | -93.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,864 | €17,382 | -€482 | -2.7% |
| Other operating charges | 640/8 | €1,850 | €1,882 | +€32 | +1.7% |
| Gross operating margin | 9900 | €95,089 | €93,979 | -€1,109 | -1.2% |
| Operating profit (loss) | 9901 | €75,374 | €74,715 | -€659 | -0.9% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €4,252 | €3,716 | -€535 | -12.6% |
| Recurring financial charges | 65 | €4,252 | €3,716 | -€535 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €71,123 | €71,002 | -€121 | -0.2% |
| Income taxes | 67/77 | €19,687 | €18,837 | -€850 | -4.3% |
| Profit (loss) for the period | 9904 | €51,436 | €52,165 | +€729 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,436 | €52,165 | +€729 | +1.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.