TGLA: 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.
TGLA
Largest movements
- Receivables within one year +€52,850
up €52,850 (+131%), from €40,392 to €93,242
of which Trade receivables: +€60,639
- Tangible fixed assets -€31,780
down €31,780 (-3.3%), from €960,222 to €928,443
of which Leasing and similar rights: -€30,568
- Receivables after one year -€19,500
no longer reported in 2025 (was €19,500)
- Trade debts +€30,807
up €30,807 (+622%), from €4,949 to €35,756
- Debts after one year -€29,646
down €29,646 (-3.2%), from €938,219 to €908,573
- Reserves -€21,000
no longer reported in 2025 (was €21,000)
- Tax, wage and social debts +€15,267
up €15,267 (+85.1%), from €17,947 to €33,214
of which Taxes: +€15,878
- Gross operating margin -€15,713
down €15,713 (-12.4%), from €126,559 to €110,846
- Taxes -€2,794
down €2,794 (-49.7%), from €5,625 to €2,831
- Other operating charges -€2,102
down €2,102 (-34.1%), from €6,166 to €4,064
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 | €1,024,309 | €1,030,775 | +€6,466 | +0.6% |
| Fixed assets | 21/28 | €960,222 | €928,443 | -€31,780 | -3.3% |
| Tangible fixed assets | 22/27 | €960,222 | €928,443 | -€31,780 | -3.3% |
| Plant, machinery and equipment | 23 | - | €789 | +€789 | |
| Furniture and vehicles | 24 | €5,034 | €3,034 | -€2,001 | -39.7% |
| Leasing and similar rights | 25 | €955,188 | €924,620 | -€30,568 | -3.2% |
| Current assets | 29/58 | €64,087 | €102,333 | +€38,246 | +59.7% |
| Amounts receivable after more than one year | 29 | €19,500 | - | -€19,500 | |
| Other amounts receivable | 291 | €19,500 | - | -€19,500 | |
| Amounts receivable within one year | 40/41 | €40,392 | €93,242 | +€52,850 | +131% |
| Trade receivables | 40 | €32,603 | €93,242 | +€60,639 | +186% |
| Other amounts receivable | 41 | €7,789 | - | -€7,789 | |
| Cash at bank and in hand | 54/58 | €4,195 | €3,564 | -€631 | -15.0% |
| Deferred charges and accrued income | 490/1 | - | €5,527 | +€5,527 | |
| Total equity and liabilities | 10/49 | €1,024,309 | €1,030,775 | +€6,466 | +0.6% |
| Equity | 10/15 | €30,646 | €2,000 | -€28,646 | -93.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €21,000 | - | -€21,000 | |
| Distributable reserves | 133 | €21,000 | - | -€21,000 | |
| Profit (loss) carried forward | 14 | €7,646 | €0 | -€7,646 | -100% |
| Amounts payable | 17/49 | €993,663 | €1,028,775 | +€35,112 | +3.5% |
| Amounts payable after more than one year | 17 | €938,219 | €908,573 | -€29,646 | -3.2% |
| Financial debts | 170/4 | €938,219 | €908,573 | -€29,646 | -3.2% |
| Amounts payable within one year | 42/48 | €55,444 | €120,202 | +€64,758 | +117% |
| Current portion of amounts payable after more than one year | 42 | €31,382 | €41,030 | +€9,648 | +30.7% |
| Trade debts | 44 | €4,949 | €35,756 | +€30,807 | +622% |
| Suppliers | 440/4 | €4,949 | €35,756 | +€30,807 | +622% |
| Taxes, remuneration and social security | 45 | €17,947 | €33,214 | +€15,267 | +85.1% |
| Taxes | 450/3 | €13,177 | €29,055 | +€15,878 | +120% |
| Remuneration and social security | 454/9 | €4,770 | €4,159 | -€611 | -12.8% |
| Other amounts payable | 47/48 | €1,166 | €10,201 | +€9,035 | +775% |
| Remuneration, social security and pensions | 62 | €31,513 | €32,586 | +€1,073 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,568 | €32,696 | +€128 | +0.4% |
| Other operating charges | 640/8 | €6,166 | €4,064 | -€2,102 | -34.1% |
| Gross operating margin | 9900 | €126,559 | €110,846 | -€15,713 | -12.4% |
| Operating profit (loss) | 9901 | €56,312 | €41,500 | -€14,812 | -26.3% |
| Financial income | 75/76B | €313 | €36 | -€277 | -88.5% |
| Recurring financial income | 75 | €313 | €36 | -€277 | -88.5% |
| Financial charges | 65/66B | €36,303 | €36,448 | +€145 | +0.4% |
| Recurring financial charges | 65 | €36,303 | €36,448 | +€145 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €20,322 | €5,087 | -€15,235 | -75.0% |
| Income taxes | 67/77 | €5,625 | €2,831 | -€2,794 | -49.7% |
| Profit (loss) for the period | 9904 | €14,697 | €2,256 | -€12,441 | -84.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,697 | €2,256 | -€12,441 | -84.6% |
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 14 October 2026 via checked.be.