TDS: what changed
TDS
Largest movements
- Receivables within one year +€34,671
up €34,671, from €0 to €34,671
of which Trade receivables: +€31,466
- Cash -€30,049
down €30,049 (-100%), from €30,049 to €0
mainly Receivables within one year (-€34,671) and Investment in fixed assets (net) (-€22,906)
- Tangible fixed assets +€22,158
up €22,158 (+66.7%), from €33,222 to €55,379
of which Furniture and vehicles: +€21,033
- Deferred charges and accrued income -€5,670
down €5,670 (-100%), from €5,670 to €0
- Debts after one year +€14,579
up €14,579 (+59.8%), from €24,398 to €38,977
- Reserves +€9,557
up €9,557 (+56.4%), from €16,954 to €26,511
- Tax, wage and social debts -€3,900
down €3,900 (-48.9%), from €7,971 to €4,071
- Trade debts +€1,952
up €1,952 (+393%), from €497 to €2,449
- Gross operating margin -€9,818
down €9,818 (-43.0%), from €22,822 to €13,004
- Depreciation -€9,175
down €9,175 (-92.5%), from €9,923 to €748
- Financial charges -€1,008
down €1,008 (-63.2%), from €1,596 to €588
- Taxes -€921
down €921 (-36.9%), from €2,496 to €1,575
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €68,940 | €90,050 | +€21,110 | +30.6% |
| Fixed assets | 21/28 | €33,222 | €55,379 | +€22,158 | +66.7% |
| Tangible fixed assets | 22/27 | €33,222 | €55,379 | +€22,158 | +66.7% |
| Plant, machinery and equipment | 23 | - | €1,125 | +€1,125 | |
| Furniture and vehicles | 24 | €33,222 | €54,254 | +€21,033 | +63.3% |
| Current assets | 29/58 | €35,719 | €34,671 | -€1,048 | -2.9% |
| Amounts receivable within one year | 40/41 | €0 | €34,671 | +€34,671 | |
| Trade receivables | 40 | €0 | €31,466 | +€31,466 | |
| Other amounts receivable | 41 | - | €3,205 | +€3,205 | |
| Cash at bank and in hand | 54/58 | €30,049 | €0 | -€30,049 | -100% |
| Deferred charges and accrued income | 490/1 | €5,670 | €0 | -€5,670 | -100% |
| Total equity and liabilities | 10/49 | €68,940 | €90,050 | +€21,110 | +30.6% |
| Equity | 10/15 | €21,954 | €31,511 | +€9,557 | +43.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,954 | €26,511 | +€9,557 | +56.4% |
| Distributable reserves | 133 | €16,954 | €26,511 | +€9,557 | +56.4% |
| Amounts payable | 17/49 | €46,987 | €58,539 | +€11,553 | +24.6% |
| Amounts payable after more than one year | 17 | €24,398 | €38,977 | +€14,579 | +59.8% |
| Financial debts | 170/4 | €24,398 | €38,977 | +€14,579 | +59.8% |
| Amounts payable within one year | 42/48 | €22,589 | €19,562 | -€3,027 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €9,454 | €9,023 | -€431 | -4.6% |
| Trade debts | 44 | €497 | €2,449 | +€1,952 | +393% |
| Suppliers | 440/4 | €497 | €2,449 | +€1,952 | +393% |
| Taxes, remuneration and social security | 45 | €7,971 | €4,071 | -€3,900 | -48.9% |
| Taxes | 450/3 | €7,971 | €4,071 | -€3,900 | -48.9% |
| Other amounts payable | 47/48 | €4,667 | €4,020 | -€647 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,923 | €748 | -€9,175 | -92.5% |
| Other operating charges | 640/8 | €409 | €536 | +€127 | +31.2% |
| Gross operating margin | 9900 | €22,822 | €13,004 | -€9,818 | -43.0% |
| Operating profit (loss) | 9901 | €12,491 | €11,719 | -€771 | -6.2% |
| Financial charges | 65/66B | €1,596 | €588 | -€1,008 | -63.2% |
| Recurring financial charges | 65 | €1,596 | €588 | -€1,008 | -63.2% |
| Profit (loss) for the period before taxes | 9903 | €10,894 | €11,132 | +€237 | +2.2% |
| Income taxes | 67/77 | €2,496 | €1,575 | -€921 | -36.9% |
| Profit (loss) for the period | 9904 | €8,398 | €9,557 | +€1,158 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €8,398 | €9,557 | +€1,158 | +13.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.