TFO Consulting: 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.
TFO Consulting
Largest movements
- Tangible fixed assets -€13,745
down €13,745 (-45.1%), from €30,498 to €16,754
of which Furniture and vehicles: -€14,191
- Receivables within one year -€11,023
down €11,023 (-48.1%), from €22,931 to €11,908
of which Other amounts receivable: -€9,740
- Cash +€2,061
up €2,061 (+6.9%), from €30,063 to €32,124
mainly Net result for the year (+€17,590) and Depreciation (+€16,627)
- Reserves +€17,590
new in 2025: €17,590
- Tax, wage and social debts -€12,034
down €12,034 (-65.1%), from €18,488 to €6,454
of which Taxes: -€12,100
- Debts after one year -€11,605
no longer reported in 2025 (was €11,605)
- Other debts -€10,936
down €10,936 (-92.9%), from €11,769 to €833
- Current portion of long-term debt -€5,968
down €5,968 (-34.0%), from €17,572 to €11,605
- Taxes +€3,676
up €3,676 (+72.0%), from €5,103 to €8,779
- Financial income -€1,759
down €1,759 (-95.1%), from €1,851 to €92
- Financial charges +€1,660
up €1,660 (+113%), from €1,469 to €3,129
- Depreciation -€1,436
down €1,436 (-8.0%), from €18,064 to €16,627
- Gross operating margin -€1,302
down €1,302 (-2.7%), from €48,863 to €47,561
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 | €85,721 | €62,435 | -€23,287 | -27.2% |
| Fixed assets | 21/28 | €31,998 | €18,313 | -€13,686 | -42.8% |
| Tangible fixed assets | 22/27 | €30,498 | €16,754 | -€13,745 | -45.1% |
| Plant, machinery and equipment | 23 | - | €446 | +€446 | |
| Furniture and vehicles | 24 | €30,498 | €16,308 | -€14,191 | -46.5% |
| Financial fixed assets | 28 | €1,500 | €1,559 | +€59 | +3.9% |
| Current assets | 29/58 | €53,723 | €44,122 | -€9,601 | -17.9% |
| Amounts receivable within one year | 40/41 | €22,931 | €11,908 | -€11,023 | -48.1% |
| Trade receivables | 40 | €12,554 | €11,271 | -€1,283 | -10.2% |
| Other amounts receivable | 41 | €10,377 | €637 | -€9,740 | -93.9% |
| Cash at bank and in hand | 54/58 | €30,063 | €32,124 | +€2,061 | +6.9% |
| Deferred charges and accrued income | 490/1 | €729 | €90 | -€639 | -87.7% |
| Total equity and liabilities | 10/49 | €85,721 | €62,435 | -€23,287 | -27.2% |
| Equity | 10/15 | €24,420 | €41,178 | +€16,757 | +68.6% |
| Reserves | 13 | - | €17,590 | +€17,590 | |
| Non-distributable reserves | 130/1 | - | €17,590 | +€17,590 | |
| Reserves not available under the articles | 1311 | - | €17,590 | +€17,590 | |
| Profit (loss) carried forward | 14 | €24,420 | €23,587 | -€833 | -3.4% |
| Amounts payable | 17/49 | €61,301 | €21,257 | -€40,044 | -65.3% |
| Amounts payable after more than one year | 17 | €11,605 | - | -€11,605 | |
| Financial debts | 170/4 | €11,605 | - | -€11,605 | |
| Amounts payable within one year | 42/48 | €48,803 | €21,167 | -€27,635 | -56.6% |
| Current portion of amounts payable after more than one year | 42 | €17,572 | €11,605 | -€5,968 | -34.0% |
| Trade debts | 44 | €973 | €2,275 | +€1,302 | +134% |
| Suppliers | 440/4 | €973 | €2,275 | +€1,302 | +134% |
| Taxes, remuneration and social security | 45 | €18,488 | €6,454 | -€12,034 | -65.1% |
| Taxes | 450/3 | €18,488 | €6,388 | -€12,100 | -65.4% |
| Remuneration and social security | 454/9 | - | €66 | +€66 | |
| Other amounts payable | 47/48 | €11,769 | €833 | -€10,936 | -92.9% |
| Accrued charges and deferred income | 492/3 | €894 | €90 | -€804 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,064 | €16,627 | -€1,436 | -8.0% |
| Other operating charges | 640/8 | €1,658 | €1,527 | -€131 | -7.9% |
| Gross operating margin | 9900 | €48,863 | €47,561 | -€1,302 | -2.7% |
| Operating profit (loss) | 9901 | €29,141 | €29,407 | +€265 | +0.9% |
| Financial income | 75/76B | €1,851 | €92 | -€1,759 | -95.1% |
| Recurring financial income | 75 | €1,851 | €92 | -€1,759 | -95.1% |
| Financial charges | 65/66B | €1,469 | €3,129 | +€1,660 | +113% |
| Recurring financial charges | 65 | €1,469 | €3,129 | +€1,660 | +113% |
| Profit (loss) for the period before taxes | 9903 | €29,523 | €26,369 | -€3,154 | -10.7% |
| Income taxes | 67/77 | €5,103 | €8,779 | +€3,676 | +72.0% |
| Profit (loss) for the period | 9904 | €24,420 | €17,590 | -€6,830 | -28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €24,420 | €17,590 | -€6,830 | -28.0% |
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.