TF HOLDING: 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.
TF HOLDING
Largest movements
- Cash +€13,556
up €13,556 (+91.4%), from €14,830 to €28,386
mainly Other debts (+€38,209) and Deferred charges and accrued income (+€3,937)
- Deferred charges and accrued income -€3,937
no longer reported in 2025 (was €3,937)
- Other debts +€38,209
up €38,209 (+16.5%), from €232,016 to €270,225
- Profit (loss) carried forward -€19,407
down €19,407 (-14.6%), from -€132,611 to -€152,018
- Trade debts -€9,183
down €9,183 (-68.0%), from €13,504 to €4,321
- Gross operating margin +€23,646
up €23,646 (+65.4%), from -€36,169 to -€12,523
- Financial charges +€6,177
up €6,177 (+872.5%), from €708 to €6,885
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €178,768 | €188,386 | +€9,618 | +5.4% |
| Fixed assets | 21/28 | €160,000 | €160,000 | = | 0.0% |
| Financial fixed assets | 28 | €160,000 | €160,000 | = | 0.0% |
| Current assets | 29/58 | €18,768 | €28,386 | +€9,618 | +51.2% |
| Cash at bank and in hand | 54/58 | €14,830 | €28,386 | +€13,556 | +91.4% |
| Deferred charges and accrued income | 490/1 | €3,937 | - | -€3,937 | |
| Total equity and liabilities | 10/49 | €178,768 | €188,386 | +€9,618 | +5.4% |
| Equity | 10/15 | -€66,753 | -€86,160 | -€19,407 | -29.1% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €858 | €858 | = | 0.0% |
| Distributable reserves | 133 | €858 | €858 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,611 | -€152,018 | -€19,407 | -14.6% |
| Amounts payable | 17/49 | €245,521 | €274,546 | +€29,025 | +11.8% |
| Amounts payable within one year | 42/48 | €245,521 | €274,546 | +€29,025 | +11.8% |
| Trade debts | 44 | €13,504 | €4,321 | -€9,183 | -68.0% |
| Suppliers | 440/4 | €13,504 | €4,321 | -€9,183 | -68.0% |
| Other amounts payable | 47/48 | €232,016 | €270,225 | +€38,209 | +16.5% |
| Gross operating margin | 9900 | -€36,169 | -€12,523 | +€23,646 | +65.4% |
| Operating profit (loss) | 9901 | -€36,169 | -€12,523 | +€23,646 | +65.4% |
| Financial charges | 65/66B | €708 | €6,885 | +€6,177 | +872.5% |
| Recurring financial charges | 65 | €708 | €6,885 | +€6,177 | +872.5% |
| Profit (loss) for the period before taxes | 9903 | -€36,877 | -€19,407 | +€17,469 | +47.4% |
| Profit (loss) for the period | 9904 | -€36,877 | -€19,407 | +€17,469 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,877 | -€19,407 | +€17,469 | +47.4% |
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 8 October 2026 via checked.be.