TDV GROUP: 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.
TDV GROUP
Largest movements
- Tangible fixed assets +€71,657
up €71,657 (+6,349%), from €1,129 to €72,785
of which Leasing and similar rights: +€69,043
- Receivables within one year -€26,454
down €26,454 (-55.4%), from €47,757 to €21,303
of which Trade receivables: -€28,090
- Trade debts +€26,165
up €26,165 (+1,538%), from €1,701 to €27,866
- Current portion of long-term debt +€13,164
new in 2025: €13,164
- Profit (loss) carried forward +€7,427
up €7,427 (+13.0%), from €57,138 to €64,565
- Tax, wage and social debts -€5,041
down €5,041 (-58.7%), from €8,591 to €3,550
- Debts after one year +€4,545
new in 2025: €4,545
- Depreciation +€8,972
up €8,972 (+1,117%), from €803 to €9,775
- Gross operating margin -€7,152
down €7,152 (-24.2%), from €29,499 to €22,347
- Taxes -€3,254
down €3,254 (-53.8%), from €6,050 to €2,796
- Other operating charges +€1,597
up €1,597 (+493%), from €324 to €1,921
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 | €67,530 | €113,789 | +€46,260 | +68.5% |
| Fixed assets | 21/28 | €1,129 | €72,785 | +€71,657 | +6,349% |
| Tangible fixed assets | 22/27 | €1,129 | €72,785 | +€71,657 | +6,349% |
| Plant, machinery and equipment | 23 | €222 | €20 | -€203 | -91.1% |
| Furniture and vehicles | 24 | €906 | €3,723 | +€2,816 | +311% |
| Leasing and similar rights | 25 | - | €69,043 | +€69,043 | |
| Current assets | 29/58 | €66,401 | €41,004 | -€25,397 | -38.2% |
| Amounts receivable within one year | 40/41 | €47,757 | €21,303 | -€26,454 | -55.4% |
| Trade receivables | 40 | €28,090 | - | -€28,090 | |
| Other amounts receivable | 41 | €19,667 | €21,303 | +€1,636 | +8.3% |
| Cash at bank and in hand | 54/58 | €18,183 | €18,474 | +€290 | +1.6% |
| Deferred charges and accrued income | 490/1 | €461 | €1,227 | +€766 | +166% |
| Total equity and liabilities | 10/49 | €67,530 | €113,789 | +€46,260 | +68.5% |
| Equity | 10/15 | €57,238 | €64,665 | +€7,427 | +13.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,138 | €64,565 | +€7,427 | +13.0% |
| Amounts payable | 17/49 | €10,292 | €49,124 | +€38,832 | +377% |
| Amounts payable after more than one year | 17 | - | €4,545 | +€4,545 | |
| Financial debts | 170/4 | - | €4,545 | +€4,545 | |
| Amounts payable within one year | 42/48 | €10,292 | €44,579 | +€34,287 | +333% |
| Current portion of amounts payable after more than one year | 42 | - | €13,164 | +€13,164 | |
| Trade debts | 44 | €1,701 | €27,866 | +€26,165 | +1,538% |
| Suppliers | 440/4 | €1,701 | €27,866 | +€26,165 | +1,538% |
| Taxes, remuneration and social security | 45 | €8,591 | €3,550 | -€5,041 | -58.7% |
| Taxes | 450/3 | €8,591 | €3,550 | -€5,041 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €803 | €9,775 | +€8,972 | +1,117% |
| Other operating charges | 640/8 | €324 | €1,921 | +€1,597 | +493% |
| Gross operating margin | 9900 | €29,499 | €22,347 | -€7,152 | -24.2% |
| Operating profit (loss) | 9901 | €28,372 | €10,651 | -€17,721 | -62.5% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €505 | €428 | -€77 | -15.3% |
| Recurring financial charges | 65 | €505 | €428 | -€77 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €27,867 | €10,223 | -€17,644 | -63.3% |
| Income taxes | 67/77 | €6,050 | €2,796 | -€3,254 | -53.8% |
| Profit (loss) for the period | 9904 | €21,817 | €7,427 | -€14,390 | -66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,817 | €7,427 | -€14,390 | -66.0% |
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 14 October 2026 via checked.be.