TGL-CONSTRUCTO: 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.
TGL-CONSTRUCTO
Largest movements
- Receivables within one year -€33,595
down €33,595 (-81.8%), from €41,060 to €7,465
of which Trade receivables: -€31,763
- Tangible fixed assets -€32,797
down €32,797 (-4.5%), from €725,256 to €692,458
of which Land and buildings: -€29,569
- Debts after one year -€37,885
down €37,885 (-12.7%), from €297,267 to €259,382
of which Financial debts: -€42,045
- Trade debts -€27,541
down €27,541 (-56.4%), from €48,791 to €21,251
- Profit (loss) carried forward -€12,541
down €12,541 (-17.4%), from €71,886 to €59,345
- Other debts +€8,479
new in 2025: €8,479
- Gross operating margin -€110,951
down €110,951 (-63.1%), from €175,947 to €64,996
- Write-downs +€50,500
no longer reported in 2025 (was -€50,500)
- Financial charges -€37,307
down €37,307 (-81.2%), from €45,959 to €8,652
- Depreciation +€10,199
up €10,199 (+20.2%), from €50,612 to €60,811
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 | €772,331 | €703,493 | -€68,838 | -8.9% |
| Fixed assets | 21/28 | €725,656 | €692,858 | -€32,797 | -4.5% |
| Tangible fixed assets | 22/27 | €725,256 | €692,458 | -€32,797 | -4.5% |
| Land and buildings | 22 | €717,573 | €688,004 | -€29,569 | -4.1% |
| Furniture and vehicles | 24 | €7,683 | €4,455 | -€3,228 | -42.0% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €46,675 | €10,634 | -€36,041 | -77.2% |
| Amounts receivable within one year | 40/41 | €41,060 | €7,465 | -€33,595 | -81.8% |
| Trade receivables | 40 | €33,051 | €1,288 | -€31,763 | -96.1% |
| Other amounts receivable | 41 | €8,009 | €6,177 | -€1,832 | -22.9% |
| Cash at bank and in hand | 54/58 | €1,166 | €3,037 | +€1,871 | +160.5% |
| Deferred charges and accrued income | 490/1 | €4,450 | €132 | -€4,318 | -97.0% |
| Total equity and liabilities | 10/49 | €772,331 | €703,493 | -€68,838 | -8.9% |
| Equity | 10/15 | €382,482 | €369,941 | -€12,541 | -3.3% |
| Contributions | 10/11 | €190,000 | €190,000 | = | 0.0% |
| Reserves | 13 | €120,596 | €120,596 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,500 | €5,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,500 | €5,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €115,096 | €115,096 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,886 | €59,345 | -€12,541 | -17.4% |
| Amounts payable | 17/49 | €389,849 | €333,552 | -€56,298 | -14.4% |
| Amounts payable after more than one year | 17 | €297,267 | €259,382 | -€37,885 | -12.7% |
| Financial debts | 170/4 | €283,277 | €241,232 | -€42,045 | -14.8% |
| Other amounts payable | 178/9 | €13,990 | €18,150 | +€4,160 | +29.7% |
| Amounts payable within one year | 42/48 | €91,802 | €73,389 | -€18,413 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | €40,512 | €42,045 | +€1,533 | +3.8% |
| Trade debts | 44 | €48,791 | €21,251 | -€27,541 | -56.4% |
| Suppliers | 440/4 | €48,791 | €21,251 | -€27,541 | -56.4% |
| Taxes, remuneration and social security | 45 | €2,499 | €1,614 | -€885 | -35.4% |
| Taxes | 450/3 | €2,499 | €1,614 | -€885 | -35.4% |
| Other amounts payable | 47/48 | - | €8,479 | +€8,479 | |
| Accrued charges and deferred income | 492/3 | €780 | €780 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,612 | €60,811 | +€10,199 | +20.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€50,500 | - | +€50,500 | |
| Other operating charges | 640/8 | €9,349 | €8,385 | -€965 | -10.3% |
| Gross operating margin | 9900 | €175,947 | €64,996 | -€110,951 | -63.1% |
| Operating profit (loss) | 9901 | €166,485 | -€4,200 | -€170,685 | |
| Financial income | 75/76B | €161 | €312 | +€150 | +93.2% |
| Recurring financial income | 75 | €161 | €312 | +€150 | +93.2% |
| Financial charges | 65/66B | €45,959 | €8,652 | -€37,307 | -81.2% |
| Recurring financial charges | 65 | €45,959 | €8,652 | -€37,307 | -81.2% |
| Profit (loss) for the period before taxes | 9903 | €120,688 | -€12,541 | -€133,228 | |
| Income taxes | 67/77 | €1,614 | - | -€1,614 | |
| Profit (loss) for the period | 9904 | €119,073 | -€12,541 | -€131,614 | |
| Transfer to tax-exempt reserves | 689 | €115,096 | - | -€115,096 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,977 | -€12,541 | -€16,518 |
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 9 October 2026 via checked.be.