TK MASTER SOLUTIONS: 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.
TK MASTER SOLUTIONS
Largest movements
- Tangible fixed assets -€29,683
down €29,683 (-30.4%), from €97,712 to €68,028
- Receivables within one year -€23,327
down €23,327 (-59.2%), from €39,417 to €16,090
of which Trade receivables: -€24,455
- Cash -€15,122
down €15,122 (-7.8%), from €193,822 to €178,700
mainly Tax, wage and social debts (-€35,021) and Debts after one year (-€14,730)
- Tax, wage and social debts -€35,021
down €35,021 (-83.0%), from €42,173 to €7,151
of which Taxes: -€31,881
- Debts after one year -€14,730
down €14,730 (-40.3%), from €36,526 to €21,796
- Trade debts -€9,431
down €9,431 (-32.6%), from €28,944 to €19,513
- Other debts -€7,648
down €7,648 (-40.6%), from €18,840 to €11,192
- Accrued charges and deferred income -€5,240
no longer reported in 2026 (was €5,240)
- Gross operating margin -€94,126
down €94,126 (-53.8%), from €174,991 to €80,865
- Taxes -€31,629
down €31,629 (-84.3%), from €37,507 to €5,879
- Financial charges +€29,265
up €29,265 (+152.6%), from €19,176 to €48,441
- Depreciation +€6,767
up €6,767 (+50.4%), from €13,433 to €20,200
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €332,382 | €263,318 | -€69,064 | -20.8% |
| Fixed assets | 21/28 | €98,212 | €68,528 | -€29,683 | -30.2% |
| Tangible fixed assets | 22/27 | €97,712 | €68,028 | -€29,683 | -30.4% |
| Plant, machinery and equipment | 23 | €35,283 | €26,124 | -€9,159 | -26.0% |
| Furniture and vehicles | 24 | €21,713 | €9,966 | -€11,747 | -54.1% |
| Leasing and similar rights | 25 | €40,715 | €31,937 | -€8,778 | -21.6% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €234,170 | €194,790 | -€39,380 | -16.8% |
| Amounts receivable within one year | 40/41 | €39,417 | €16,090 | -€23,327 | -59.2% |
| Trade receivables | 40 | €34,191 | €9,736 | -€24,455 | -71.5% |
| Other amounts receivable | 41 | €5,226 | €6,354 | +€1,128 | +21.6% |
| Cash at bank and in hand | 54/58 | €193,822 | €178,700 | -€15,122 | -7.8% |
| Deferred charges and accrued income | 490/1 | €931 | - | -€931 | |
| Total equity and liabilities | 10/49 | €332,382 | €263,318 | -€69,064 | -20.8% |
| Equity | 10/15 | €186,493 | €188,935 | +€2,442 | +1.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €185,493 | €187,935 | +€2,442 | +1.3% |
| Distributable reserves | 133 | €185,493 | €187,935 | +€2,442 | +1.3% |
| Amounts payable | 17/49 | €145,889 | €74,383 | -€71,506 | -49.0% |
| Amounts payable after more than one year | 17 | €36,526 | €21,796 | -€14,730 | -40.3% |
| Financial debts | 170/4 | €36,526 | €21,796 | -€14,730 | -40.3% |
| Amounts payable within one year | 42/48 | €104,123 | €52,587 | -€51,536 | -49.5% |
| Current portion of amounts payable after more than one year | 42 | €14,167 | €14,730 | +€564 | +4.0% |
| Trade debts | 44 | €28,944 | €19,513 | -€9,431 | -32.6% |
| Suppliers | 440/4 | €28,944 | €19,513 | -€9,431 | -32.6% |
| Taxes, remuneration and social security | 45 | €42,173 | €7,151 | -€35,021 | -83.0% |
| Taxes | 450/3 | €39,033 | €7,151 | -€31,881 | -81.7% |
| Remuneration and social security | 454/9 | €3,140 | - | -€3,140 | |
| Other amounts payable | 47/48 | €18,840 | €11,192 | -€7,648 | -40.6% |
| Accrued charges and deferred income | 492/3 | €5,240 | - | -€5,240 | |
| Non-recurring operating income | 76A | - | €951 | +€951 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,433 | €20,200 | +€6,767 | +50.4% |
| Other operating charges | 640/8 | €3,101 | €3,941 | +€839 | +27.1% |
| Gross operating margin | 9900 | €174,991 | €80,865 | -€94,126 | -53.8% |
| Operating profit (loss) | 9901 | €158,457 | €56,724 | -€101,732 | -64.2% |
| Financial income | 75/76B | €2 | €38 | +€36 | +2200.6% |
| Recurring financial income | 75 | €2 | €38 | +€36 | +2200.6% |
| Financial charges | 65/66B | €19,176 | €48,441 | +€29,265 | +152.6% |
| Recurring financial charges | 65 | €19,176 | €48,441 | +€29,265 | +152.6% |
| Profit (loss) for the period before taxes | 9903 | €139,282 | €8,321 | -€130,962 | -94.0% |
| Income taxes | 67/77 | €37,507 | €5,879 | -€31,629 | -84.3% |
| Profit (loss) for the period | 9904 | €101,775 | €2,442 | -€99,333 | -97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €101,775 | €2,442 | -€99,333 | -97.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.