TFa Management: 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.
TFa Management
Largest movements
- Cash +€31,884
up €31,884 (+1350.7%), from €2,361 to €34,244
mainly Net result for the year (+€14,961) and Receivables within one year (+€11,298)
- Receivables within one year -€11,298
no longer reported in 2025 (was €11,298)
- Deferred charges and accrued income +€1,626
up €1,626 (+517.3%), from €314 to €1,940
- Tangible fixed assets +€850
up €850 (+125.7%), from €676 to €1,526
- Profit (loss) carried forward +€14,961
up €14,961, from -€4,776 to €10,185
- Tax, wage and social debts +€6,681
up €6,681 (+55.7%), from €11,995 to €18,676
- Reserves -€5,025
no longer reported in 2025 (was €5,025)
- Trade debts +€4,170
up €4,170 (+518.0%), from €805 to €4,975
- Other debts +€1,875
new in 2025: €1,875
- Gross operating margin +€19,250
up €19,250 (+301.4%), from €6,388 to €25,637
- Taxes +€4,313
up €4,313 (+201.8%), from €2,137 to €6,450
- Other operating charges +€1,084
up €1,084 (+142.7%), from €760 to €1,844
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 | €15,049 | €38,111 | +€23,061 | +153.2% |
| Fixed assets | 21/28 | €1,076 | €1,926 | +€850 | +79.0% |
| Tangible fixed assets | 22/27 | €676 | €1,526 | +€850 | +125.7% |
| Furniture and vehicles | 24 | €676 | €1,526 | +€850 | +125.7% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €13,973 | €36,185 | +€22,212 | +159.0% |
| Amounts receivable within one year | 40/41 | €11,298 | - | -€11,298 | |
| Trade receivables | 40 | €11,298 | - | -€11,298 | |
| Cash at bank and in hand | 54/58 | €2,361 | €34,244 | +€31,884 | +1350.7% |
| Deferred charges and accrued income | 490/1 | €314 | €1,940 | +€1,626 | +517.3% |
| Total equity and liabilities | 10/49 | €15,049 | €38,111 | +€23,061 | +153.2% |
| Equity | 10/15 | €2,249 | €12,185 | +€9,935 | +441.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €5,025 | - | -€5,025 | |
| Distributable reserves | 133 | €5,025 | - | -€5,025 | |
| Profit (loss) carried forward | 14 | -€4,776 | €10,185 | +€14,961 | |
| Amounts payable | 17/49 | €12,800 | €25,926 | +€13,126 | +102.5% |
| Amounts payable within one year | 42/48 | €12,800 | €25,526 | +€12,726 | +99.4% |
| Trade debts | 44 | €805 | €4,975 | +€4,170 | +518.0% |
| Suppliers | 440/4 | €805 | €4,975 | +€4,170 | +518.0% |
| Taxes, remuneration and social security | 45 | €11,995 | €18,676 | +€6,681 | +55.7% |
| Taxes | 450/3 | €11,995 | €18,676 | +€6,681 | +55.7% |
| Other amounts payable | 47/48 | - | €1,875 | +€1,875 | |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €650 | €835 | +€185 | +28.4% |
| Other operating charges | 640/8 | €760 | €1,844 | +€1,084 | +142.7% |
| Gross operating margin | 9900 | €6,388 | €25,637 | +€19,250 | +301.4% |
| Operating profit (loss) | 9901 | €4,977 | €22,958 | +€17,981 | +361.3% |
| Financial income | 75/76B | €1 | €77 | +€76 | +11319.4% |
| Recurring financial income | 75 | €1 | €77 | +€76 | +11319.4% |
| Financial charges | 65/66B | €1,873 | €1,625 | -€248 | -13.2% |
| Recurring financial charges | 65 | €1,873 | €1,625 | -€248 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €3,105 | €21,410 | +€18,305 | +589.4% |
| Income taxes | 67/77 | €2,137 | €6,450 | +€4,313 | +201.8% |
| Profit (loss) for the period | 9904 | €969 | €14,961 | +€13,992 | +1444.6% |
| Profit (loss) for the period to be appropriated | 9905 | €969 | €14,961 | +€13,992 | +1444.6% |
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 5 October 2026 via checked.be.