TDS WAREHOUSING: 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 WAREHOUSING
Largest movements
- Receivables within one year -€230,862
down €230,862 (-54.9%), from €420,247 to €189,386
of which Trade receivables: -€243,132
- Current investments +€150,000
up €150,000 (+17.6%), from €850,000 to €1.0m
- Tangible fixed assets -€149,543
down €149,543 (-6.5%), from €2.3m to €2.1m
of which Land and buildings: -€143,472
- Debts after one year -€160,188
down €160,188 (-14.8%), from €1.1m to €919,226
of which Financial debts: -€160,188
- Trade debts -€78,034
down €78,034 (-70.7%), from €110,352 to €32,319
- Other debts +€70,000
up €70,000 (+28.0%), from €250,000 to €320,000
- Current portion of long-term debt -€37,034
down €37,034 (-18.8%), from €197,222 to €160,188
- Gross operating margin -€56,080
down €56,080 (-7.5%), from €744,951 to €688,871
- Financial income -€8,360
down €8,360 (-32.7%), from €25,536 to €17,176
- Depreciation -€8,177
down €8,177 (-4.2%), from €195,365 to €187,188
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.
Derived cash bridge
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 | €3,670,186 | €3,446,893 | -€223,293 | -6.1% |
| Fixed assets | 21/28 | €2,291,054 | €2,141,512 | -€149,543 | -6.5% |
| Tangible fixed assets | 22/27 | €2,291,054 | €2,141,512 | -€149,543 | -6.5% |
| Land and buildings | 22 | €2,233,938 | €2,090,465 | -€143,472 | -6.4% |
| Plant, machinery and equipment | 23 | €14,171 | €10,876 | -€3,295 | -23.3% |
| Furniture and vehicles | 24 | €42,946 | €40,171 | -€2,775 | -6.5% |
| Current assets | 29/58 | €1,379,131 | €1,305,381 | -€73,750 | -5.3% |
| Amounts receivable within one year | 40/41 | €420,247 | €189,386 | -€230,862 | -54.9% |
| Trade receivables | 40 | €377,813 | €134,681 | -€243,132 | -64.4% |
| Other amounts receivable | 41 | €42,434 | €54,704 | +€12,270 | +28.9% |
| Current investments | 50/53 | €850,000 | €1,000,000 | +€150,000 | +17.6% |
| Cash at bank and in hand | 54/58 | €108,884 | €112,294 | +€3,410 | +3.1% |
| Deferred charges and accrued income | 490/1 | - | €3,702 | +€3,702 | |
| Total equity and liabilities | 10/49 | €3,670,186 | €3,446,893 | -€223,293 | -6.1% |
| Equity | 10/15 | €2,002,988 | €2,003,954 | +€966 | 0.0% |
| Contributions | 10/11 | €1,050,000 | €1,050,000 | = | 0.0% |
| Capital | 10 | €1,050,000 | €1,050,000 | = | 0.0% |
| Issued capital | 100 | €1,050,000 | €1,050,000 | = | 0.0% |
| Reserves | 13 | €105,000 | €105,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €105,000 | €105,000 | = | 0.0% |
| Legal reserve | 130 | €105,000 | €105,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €847,988 | €848,954 | +€966 | +0.1% |
| Amounts payable | 17/49 | €1,667,198 | €1,442,939 | -€224,259 | -13.5% |
| Amounts payable after more than one year | 17 | €1,079,414 | €919,226 | -€160,188 | -14.8% |
| Financial debts | 170/4 | €1,062,054 | €901,866 | -€160,188 | -15.1% |
| Other amounts payable | 178/9 | €17,360 | €17,360 | = | 0.0% |
| Amounts payable within one year | 42/48 | €587,784 | €523,713 | -€64,071 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €197,222 | €160,188 | -€37,034 | -18.8% |
| Trade debts | 44 | €110,352 | €32,319 | -€78,034 | -70.7% |
| Suppliers | 440/4 | €110,352 | €32,319 | -€78,034 | -70.7% |
| Taxes, remuneration and social security | 45 | €30,210 | €11,207 | -€19,003 | -62.9% |
| Taxes | 450/3 | €30,210 | €11,207 | -€19,003 | -62.9% |
| Other amounts payable | 47/48 | €250,000 | €320,000 | +€70,000 | +28.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195,365 | €187,188 | -€8,177 | -4.2% |
| Other operating charges | 640/8 | €59,647 | €60,296 | +€649 | +1.1% |
| Gross operating margin | 9900 | €744,951 | €688,871 | -€56,080 | -7.5% |
| Operating profit (loss) | 9901 | €489,940 | €441,387 | -€48,553 | -9.9% |
| Financial income | 75/76B | €25,536 | €17,176 | -€8,360 | -32.7% |
| Recurring financial income | 75 | €25,536 | €17,176 | -€8,360 | -32.7% |
| Financial charges | 65/66B | €46,976 | €39,725 | -€7,251 | -15.4% |
| Recurring financial charges | 65 | €46,976 | €39,725 | -€7,251 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | €468,500 | €418,838 | -€49,662 | -10.6% |
| Income taxes | 67/77 | €104,606 | €97,872 | -€6,734 | -6.4% |
| Profit (loss) for the period | 9904 | €363,894 | €320,966 | -€42,928 | -11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €363,894 | €320,966 | -€42,928 | -11.8% |
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 15 October 2026 via checked.be.