TFE Belgium: 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.
TFE Belgium
Largest movements
- Cash +€25,793
up €25,793 (+9.7%), from €264,628 to €290,420
mainly Trade debts (+€30,421) and Other debts (+€4,477)
- Receivables within one year +€14,721
up €14,721 (+619%), from €2,378 to €17,098
of which Trade receivables: +€11,569
- Trade debts +€30,421
up €30,421 (+409%), from €7,442 to €37,862
- Other debts +€4,477
up €4,477 (+2.3%), from €197,422 to €201,900
- Profit (loss) carried forward +€4,223
up €4,223 (+11.1%), from €38,194 to €42,418
- Financial charges +€932
up €932 (+310,727%), from €0 to €932
- Taxes -€563
down €563 (-28.6%), from €1,971 to €1,408
- Financial income -€321
down €321 (-53.9%), from €596 to €275
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.
Derived cash bridge
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 | €267,757 | €307,519 | +€39,762 | +14.9% |
| Current assets | 29/58 | €267,757 | €307,519 | +€39,762 | +14.9% |
| Stocks and contracts in progress | 3 | €751 | - | -€751 | |
| Stocks | 30/36 | €751 | - | -€751 | |
| Amounts receivable within one year | 40/41 | €2,378 | €17,098 | +€14,721 | +619% |
| Trade receivables | 40 | €2,031 | €13,600 | +€11,569 | +570% |
| Other amounts receivable | 41 | €347 | €3,498 | +€3,151 | +908% |
| Cash at bank and in hand | 54/58 | €264,628 | €290,420 | +€25,793 | +9.7% |
| Total equity and liabilities | 10/49 | €267,757 | €307,519 | +€39,762 | +14.9% |
| Equity | 10/15 | €58,654 | €62,878 | +€4,223 | +7.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,194 | €42,418 | +€4,223 | +11.1% |
| Amounts payable | 17/49 | €209,103 | €244,641 | +€35,539 | +17.0% |
| Amounts payable within one year | 42/48 | €207,602 | €243,141 | +€35,539 | +17.1% |
| Trade debts | 44 | €7,442 | €37,862 | +€30,421 | +409% |
| Suppliers | 440/4 | €7,442 | €37,862 | +€30,421 | +409% |
| Taxes, remuneration and social security | 45 | €2,739 | €3,379 | +€640 | +23.4% |
| Taxes | 450/3 | €2,739 | €3,379 | +€640 | +23.4% |
| Other amounts payable | 47/48 | €197,422 | €201,900 | +€4,477 | +2.3% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | -€0 | 0.0% |
| Other operating charges | 640/8 | €662 | €705 | +€43 | +6.5% |
| Gross operating margin | 9900 | €7,025 | €6,994 | -€31 | -0.4% |
| Operating profit (loss) | 9901 | €6,363 | €6,289 | -€74 | -1.2% |
| Financial income | 75/76B | €596 | €275 | -€321 | -53.9% |
| Recurring financial income | 75 | €596 | €275 | -€321 | -53.9% |
| Financial charges | 65/66B | €0 | €932 | +€932 | +310,727% |
| Recurring financial charges | 65 | €0 | €932 | +€932 | +310,727% |
| Profit (loss) for the period before taxes | 9903 | €6,959 | €5,631 | -€1,327 | -19.1% |
| Income taxes | 67/77 | €1,971 | €1,408 | -€563 | -28.6% |
| Profit (loss) for the period | 9904 | €4,988 | €4,223 | -€764 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,988 | €4,223 | -€764 | -15.3% |
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 21 October 2026 via checked.be.