TFB MANAGEMENT: what changed
TFB MANAGEMENT
Largest movements
- Receivables within one year -€32,139
down €32,139 (-54.0%), from €59,510 to €27,372
of which Trade receivables: -€31,054
- Cash +€2,614
up €2,614 (+728%), from €359 to €2,973
mainly Receivables within one year (+€32,139) and Deferred charges and accrued income (+€1,320)
- Deferred charges and accrued income -€1,320
down €1,320 (-16.5%), from €7,975 to €6,655
- Trade debts -€27,081
down €27,081 (-76.2%), from €35,524 to €8,443
- Other debts -€4,394
down €4,394 (-26.3%), from €16,679 to €12,285
- Reserves +€1,010
up €1,010 (+9.0%), from €11,285 to €12,296
- Tax, wage and social debts -€880
down €880 (-17.7%), from €4,962 to €4,082
of which Remuneration and social security: -€1,510
- Financial charges +€1,521
up €1,521 (+112%), from €1,352 to €2,872
of which Financial charges: +€1,753
- Gross operating margin -€913
down €913 (-14.3%), from €6,382 to €5,469
- Taxes -€582
down €582 (-34.9%), from €1,667 to €1,086
- Depreciation -€339
down €339 (-40.4%), from €839 to €500
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 | €69,450 | €38,106 | -€31,344 | -45.1% |
| Fixed assets | 21/28 | €1,605 | €1,105 | -€500 | -31.1% |
| Tangible fixed assets | 22/27 | €1,605 | €1,105 | -€500 | -31.1% |
| Plant, machinery and equipment | 23 | €1,605 | €1,105 | -€500 | -31.1% |
| Current assets | 29/58 | €67,845 | €37,000 | -€30,844 | -45.5% |
| Amounts receivable within one year | 40/41 | €59,510 | €27,372 | -€32,139 | -54.0% |
| Trade receivables | 40 | €58,425 | €27,372 | -€31,054 | -53.2% |
| Other amounts receivable | 41 | €1,085 | - | -€1,085 | |
| Cash at bank and in hand | 54/58 | €359 | €2,973 | +€2,614 | +728% |
| Deferred charges and accrued income | 490/1 | €7,975 | €6,655 | -€1,320 | -16.5% |
| Total equity and liabilities | 10/49 | €69,450 | €38,106 | -€31,344 | -45.1% |
| Equity | 10/15 | €12,285 | €13,296 | +€1,010 | +8.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €11,285 | €12,296 | +€1,010 | +9.0% |
| Distributable reserves | 133 | €11,285 | €12,296 | +€1,010 | +9.0% |
| Amounts payable | 17/49 | €57,165 | €24,810 | -€32,355 | -56.6% |
| Amounts payable within one year | 42/48 | €57,165 | €24,810 | -€32,355 | -56.6% |
| Trade debts | 44 | €35,524 | €8,443 | -€27,081 | -76.2% |
| Suppliers | 440/4 | €35,524 | €8,443 | -€27,081 | -76.2% |
| Taxes, remuneration and social security | 45 | €4,962 | €4,082 | -€880 | -17.7% |
| Taxes | 450/3 | €2,225 | €2,855 | +€630 | +28.3% |
| Remuneration and social security | 454/9 | €2,736 | €1,226 | -€1,510 | -55.2% |
| Other amounts payable | 47/48 | €16,679 | €12,285 | -€4,394 | -26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €839 | €500 | -€339 | -40.4% |
| Gross operating margin | 9900 | €6,382 | €5,469 | -€913 | -14.3% |
| Operating profit (loss) | 9901 | €5,542 | €4,969 | -€574 | -10.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,352 | €2,872 | +€1,521 | +112% |
| Recurring financial charges | 65 | €1,096 | €2,849 | +€1,753 | +160% |
| Non-recurring financial charges | 66B | €256 | €23 | -€233 | -91.0% |
| Profit (loss) for the period before taxes | 9903 | €4,191 | €2,096 | -€2,094 | -50.0% |
| Income taxes | 67/77 | €1,667 | €1,086 | -€582 | -34.9% |
| Profit (loss) for the period | 9904 | €2,523 | €1,010 | -€1,513 | -60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,523 | €1,010 | -€1,513 | -60.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.