TF CONSULTANCY: what changed
TF CONSULTANCY
Largest movements
- Receivables within one year +€10,339
up €10,339 (+66.6%), from €15,532 to €25,871
of which Other amounts receivable: +€5,558
- Cash +€1,991
up €1,991 (+6.0%), from €33,058 to €35,049
mainly Net result for the year (+€18,219) and Deferred charges and accrued income (+€1,050)
- Tangible fixed assets +€1,576
up €1,576 (+60.2%), from €2,616 to €4,191
of which Furniture and vehicles: +€1,846
- Deferred charges and accrued income -€1,050
no longer reported in 2025 (was €1,050)
- Reserves +€18,219
up €18,219 (+63.8%), from €28,570 to €46,789
- Tax, wage and social debts -€4,896
down €4,896 (-26.6%), from €18,387 to €13,490
- Trade debts -€1,201
down €1,201 (-44.1%), from €2,720 to €1,519
- Other debts +€813
new in 2025: €813
- Gross operating margin -€12,804
down €12,804 (-31.6%), from €40,564 to €27,760
- Taxes -€1,384
down €1,384 (-18.0%), from €7,700 to €6,316
- Depreciation -€652
down €652 (-50.2%), from €1,297 to €646
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 | €52,256 | €65,111 | +€12,856 | +24.6% |
| Fixed assets | 21/28 | €2,616 | €4,191 | +€1,576 | +60.2% |
| Tangible fixed assets | 22/27 | €2,616 | €4,191 | +€1,576 | +60.2% |
| Furniture and vehicles | 24 | - | €1,846 | +€1,846 | |
| Other tangible fixed assets | 26 | €2,616 | €2,346 | -€270 | -10.3% |
| Current assets | 29/58 | €49,640 | €60,920 | +€11,280 | +22.7% |
| Amounts receivable within one year | 40/41 | €15,532 | €25,871 | +€10,339 | +66.6% |
| Trade receivables | 40 | €9,741 | €14,521 | +€4,781 | +49.1% |
| Other amounts receivable | 41 | €5,791 | €11,349 | +€5,558 | +96.0% |
| Cash at bank and in hand | 54/58 | €33,058 | €35,049 | +€1,991 | +6.0% |
| Deferred charges and accrued income | 490/1 | €1,050 | - | -€1,050 | |
| Total equity and liabilities | 10/49 | €52,256 | €65,111 | +€12,856 | +24.6% |
| Equity | 10/15 | €31,070 | €49,289 | +€18,219 | +58.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €28,570 | €46,789 | +€18,219 | +63.8% |
| Distributable reserves | 133 | €28,570 | €46,789 | +€18,219 | +63.8% |
| Amounts payable | 17/49 | €21,186 | €15,822 | -€5,364 | -25.3% |
| Amounts payable within one year | 42/48 | €21,107 | €15,822 | -€5,285 | -25.0% |
| Trade debts | 44 | €2,720 | €1,519 | -€1,201 | -44.1% |
| Suppliers | 440/4 | €2,720 | €1,519 | -€1,201 | -44.1% |
| Taxes, remuneration and social security | 45 | €18,387 | €13,490 | -€4,896 | -26.6% |
| Taxes | 450/3 | €18,387 | €13,490 | -€4,896 | -26.6% |
| Other amounts payable | 47/48 | - | €813 | +€813 | |
| Accrued charges and deferred income | 492/3 | €79 | - | -€79 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,297 | €646 | -€652 | -50.2% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €40,564 | €27,760 | -€12,804 | -31.6% |
| Operating profit (loss) | 9901 | €39,148 | €26,994 | -€12,154 | -31.0% |
| Financial income | 75/76B | €176 | €453 | +€277 | +158% |
| Recurring financial income | 75 | €176 | €453 | +€277 | +158% |
| Financial charges | 65/66B | €3,054 | €2,911 | -€143 | -4.7% |
| Recurring financial charges | 65 | €3,054 | €2,911 | -€143 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €36,270 | €24,535 | -€11,734 | -32.4% |
| Income taxes | 67/77 | €7,700 | €6,316 | -€1,384 | -18.0% |
| Profit (loss) for the period | 9904 | €28,570 | €18,219 | -€10,350 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,570 | €18,219 | -€10,350 | -36.2% |
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.