TFA INTERNATIONAL: 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.
TFA INTERNATIONAL
Largest movements
- Cash -€160,515
down €160,515 (-99.5%), from €161,362 to €847
mainly Other debts (-€131,236) and Tax, wage and social debts (-€43,500)
- Tangible fixed assets -€39,615
down €39,615 (-19.6%), from €202,072 to €162,457
of which Other tangible fixed assets: -€23,242
- Receivables within one year +€16,747
up €16,747 (+784.4%), from €2,135 to €18,882
of which Trade receivables: +€16,551
- Deferred charges and accrued income -€4,653
no longer reported in 2025 (was €4,653)
- Other debts -€131,236
down €131,236 (-98.5%), from €133,236 to €2,000
- Tax, wage and social debts -€43,500
down €43,500 (-87.1%), from €49,957 to €6,457
- Profit (loss) carried forward -€14,000
down €14,000 (-27.5%), from €50,879 to €36,879
- Gross operating margin -€44,190
down €44,190 (-74.7%), from €59,168 to €14,978
- Taxes -€11,457
no longer reported in 2025 (was €11,457)
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 | €370,222 | €182,186 | -€188,036 | -50.8% |
| Fixed assets | 21/28 | €202,072 | €162,457 | -€39,615 | -19.6% |
| Tangible fixed assets | 22/27 | €202,072 | €162,457 | -€39,615 | -19.6% |
| Land and buildings | 22 | €178,830 | €162,457 | -€16,373 | -9.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €23,242 | - | -€23,242 | |
| Current assets | 29/58 | €168,150 | €19,729 | -€148,421 | -88.3% |
| Amounts receivable within one year | 40/41 | €2,135 | €18,882 | +€16,747 | +784.4% |
| Trade receivables | 40 | €1,949 | €18,500 | +€16,551 | +849.2% |
| Other amounts receivable | 41 | €186 | €382 | +€196 | +105.4% |
| Cash at bank and in hand | 54/58 | €161,362 | €847 | -€160,515 | -99.5% |
| Deferred charges and accrued income | 490/1 | €4,653 | - | -€4,653 | |
| Total equity and liabilities | 10/49 | €370,222 | €182,186 | -€188,036 | -50.8% |
| Equity | 10/15 | €186,149 | €172,149 | -€14,000 | -7.5% |
| Contributions | 10/11 | €50,281 | €50,281 | = | 0.0% |
| Reserves | 13 | €84,990 | €84,990 | = | 0.0% |
| Distributable reserves | 133 | €84,990 | €84,990 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,879 | €36,879 | -€14,000 | -27.5% |
| Amounts payable | 17/49 | €184,073 | €10,037 | -€174,036 | -94.5% |
| Amounts payable within one year | 42/48 | €184,073 | €10,037 | -€174,036 | -94.5% |
| Trade debts | 44 | €880 | €1,580 | +€700 | +79.5% |
| Suppliers | 440/4 | €880 | €1,580 | +€700 | +79.5% |
| Taxes, remuneration and social security | 45 | €49,957 | €6,457 | -€43,500 | -87.1% |
| Taxes | 450/3 | €49,957 | €6,457 | -€43,500 | -87.1% |
| Other amounts payable | 47/48 | €133,236 | €2,000 | -€131,236 | -98.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,467 | €16,373 | -€94 | -0.6% |
| Other operating charges | 640/8 | €11,944 | €11,964 | +€20 | +0.2% |
| Gross operating margin | 9900 | €59,168 | €14,978 | -€44,190 | -74.7% |
| Operating profit (loss) | 9901 | €30,757 | -€13,359 | -€44,116 | |
| Financial charges | 65/66B | €114 | €641 | +€527 | +464.6% |
| Recurring financial charges | 65 | €114 | €641 | +€527 | +464.6% |
| Profit (loss) for the period before taxes | 9903 | €30,643 | -€14,000 | -€44,644 | |
| Income taxes | 67/77 | €11,457 | - | -€11,457 | |
| Profit (loss) for the period | 9904 | €19,186 | -€14,000 | -€33,186 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,186 | -€14,000 | -€33,186 |
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 10 October 2026 via checked.be.