TFF 24: 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.
TFF 24
Largest movements
- Receivables within one year -€38,348
down €38,348 (-100.0%), from €38,348 to €0
- Cash -€23,479
down €23,479 (-24.2%), from €97,126 to €73,647
mainly Other debts (-€36,993) and Net result for the year (-€13,973)
- Stocks and contracts -€8,166
down €8,166 (-11.8%), from €69,382 to €61,216
- Other debts -€36,993
down €36,993 (-56.8%), from €65,171 to €28,177
- Profit (loss) carried forward -€13,973
new in 2025: -€13,973
- Debts after one year -€10,907
down €10,907 (-7.7%), from €140,818 to €129,911
- Trade debts -€6,347
down €6,347 (-84.7%), from €7,496 to €1,149
- Tax, wage and social debts -€5,520
down €5,520 (-51.6%), from €10,687 to €5,168
of which Taxes: -€5,520
- Gross operating margin -€34,891
down €34,891 (-95.4%), from €36,581 to €1,691
- Taxes -€3,338
down €3,338 (-48.4%), from €6,894 to €3,556
- Financial charges -€591
down €591 (-15.3%), from €3,862 to €3,271
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 | €365,492 | €291,939 | -€73,553 | -20.1% |
| Fixed assets | 21/28 | €160,637 | €157,076 | -€3,561 | -2.2% |
| Tangible fixed assets | 22/27 | €160,637 | €157,076 | -€3,561 | -2.2% |
| Land and buildings | 22 | €160,637 | €153,568 | -€7,069 | -4.4% |
| Plant, machinery and equipment | 23 | - | €3,509 | +€3,509 | |
| Current assets | 29/58 | €204,855 | €134,863 | -€69,992 | -34.2% |
| Stocks and contracts in progress | 3 | €69,382 | €61,216 | -€8,166 | -11.8% |
| Stocks | 30/36 | €69,382 | €61,216 | -€8,166 | -11.8% |
| Amounts receivable within one year | 40/41 | €38,348 | €0 | -€38,348 | -100.0% |
| Trade receivables | 40 | €38,348 | €0 | -€38,348 | -100.0% |
| Cash at bank and in hand | 54/58 | €97,126 | €73,647 | -€23,479 | -24.2% |
| Total equity and liabilities | 10/49 | €365,492 | €291,939 | -€73,553 | -20.1% |
| Equity | 10/15 | €130,599 | €116,627 | -€13,973 | -10.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €127,599 | €127,599 | = | 0.0% |
| Distributable reserves | 133 | €127,599 | €127,599 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€13,973 | -€13,973 | |
| Amounts payable | 17/49 | €234,893 | €175,313 | -€59,580 | -25.4% |
| Amounts payable after more than one year | 17 | €140,818 | €129,911 | -€10,907 | -7.7% |
| Financial debts | 170/4 | €140,818 | €129,911 | -€10,907 | -7.7% |
| Amounts payable within one year | 42/48 | €94,075 | €45,401 | -€48,673 | -51.7% |
| Current portion of amounts payable after more than one year | 42 | €10,721 | €10,907 | +€186 | +1.7% |
| Trade debts | 44 | €7,496 | €1,149 | -€6,347 | -84.7% |
| Suppliers | 440/4 | €7,496 | €1,149 | -€6,347 | -84.7% |
| Taxes, remuneration and social security | 45 | €10,687 | €5,168 | -€5,520 | -51.6% |
| Taxes | 450/3 | €9,307 | €3,788 | -€5,520 | -59.3% |
| Remuneration and social security | 454/9 | €1,380 | €1,380 | = | 0.0% |
| Other amounts payable | 47/48 | €65,171 | €28,177 | -€36,993 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,069 | €7,374 | +€305 | +4.3% |
| Other operating charges | 640/8 | €1,229 | €1,543 | +€314 | +25.6% |
| Gross operating margin | 9900 | €36,581 | €1,691 | -€34,891 | -95.4% |
| Operating profit (loss) | 9901 | €28,283 | -€7,227 | -€35,510 | |
| Financial income | 75/76B | €3 | €81 | +€78 | +3100.0% |
| Recurring financial income | 75 | €3 | €81 | +€78 | +3100.0% |
| Financial charges | 65/66B | €3,862 | €3,271 | -€591 | -15.3% |
| Recurring financial charges | 65 | €3,862 | €3,271 | -€591 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €24,423 | -€10,417 | -€34,840 | |
| Income taxes | 67/77 | €6,894 | €3,556 | -€3,338 | -48.4% |
| Profit (loss) for the period | 9904 | €17,529 | -€13,973 | -€31,502 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,529 | -€13,973 | -€31,502 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.