TDV: 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.
TDV
Largest movements
- Tangible fixed assets -€12,864
down €12,864 (-4.1%), from €311,933 to €299,069
- Profit (loss) carried forward -€33,270
down €33,270, from €28,534 to -€4,736
- Other debts +€27,526
up €27,526 (+11.4%), from €241,367 to €268,893
- Current portion of long-term debt -€11,411
down €11,411 (-59.5%), from €19,194 to €7,782
- Gross operating margin -€7,824
down €7,824 (-184.0%), from -€4,251 to -€12,075
- Depreciation +€437
up €437 (+2.3%), from €18,609 to €19,046
- Financial charges -€165
down €165 (-2.4%), from €6,772 to €6,607
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 | €466,893 | €453,709 | -€13,184 | -2.8% |
| Fixed assets | 21/28 | €311,933 | €299,069 | -€12,864 | -4.1% |
| Tangible fixed assets | 22/27 | €311,933 | €299,069 | -€12,864 | -4.1% |
| Land and buildings | 22 | €311,933 | €299,069 | -€12,864 | -4.1% |
| Current assets | 29/58 | €154,959 | €154,640 | -€320 | -0.2% |
| Amounts receivable within one year | 40/41 | €153,579 | €154,572 | +€993 | +0.6% |
| Trade receivables | 40 | €23,519 | - | -€23,519 | |
| Other amounts receivable | 41 | €130,060 | €154,572 | +€24,512 | +18.8% |
| Cash at bank and in hand | 54/58 | €348 | €68 | -€280 | -80.4% |
| Deferred charges and accrued income | 490/1 | €1,033 | - | -€1,033 | |
| Total equity and liabilities | 10/49 | €466,893 | €453,709 | -€13,184 | -2.8% |
| Equity | 10/15 | €83,534 | €50,264 | -€33,270 | -39.8% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,534 | -€4,736 | -€33,270 | |
| Amounts payable | 17/49 | €383,358 | €403,445 | +€20,086 | +5.2% |
| Amounts payable after more than one year | 17 | €122,023 | €126,007 | +€3,984 | +3.3% |
| Financial debts | 170/4 | €122,023 | €126,007 | +€3,984 | +3.3% |
| Amounts payable within one year | 42/48 | €261,336 | €277,438 | +€16,102 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €19,194 | €7,782 | -€11,411 | -59.5% |
| Trade debts | 44 | €776 | €763 | -€13 | -1.6% |
| Suppliers | 440/4 | €776 | €763 | -€13 | -1.6% |
| Other amounts payable | 47/48 | €241,367 | €268,893 | +€27,526 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,609 | €19,046 | +€437 | +2.3% |
| Other operating charges | 640/8 | €2,011 | €2,018 | +€7 | +0.3% |
| Gross operating margin | 9900 | -€4,251 | -€12,075 | -€7,824 | -184.0% |
| Operating profit (loss) | 9901 | -€24,871 | -€33,140 | -€8,268 | -33.2% |
| Financial income | 75/76B | €7 | - | -€7 | |
| Recurring financial income | 75 | €7 | - | -€7 | |
| Financial charges | 65/66B | €6,772 | €6,607 | -€165 | -2.4% |
| Recurring financial charges | 65 | €6,772 | €6,607 | -€165 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,637 | -€39,746 | -€8,109 | -25.6% |
| Income taxes | 67/77 | €0 | - | -€0 | |
| Profit (loss) for the period | 9904 | -€31,638 | -€39,746 | -€8,109 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,638 | -€39,746 | -€8,109 | -25.6% |
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 29 September 2026 via checked.be.