TK Projects: 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.
TK Projects
Largest movements
- Receivables within one year +€9,753
up €9,753 (+56.1%), from €17,383 to €27,136
of which Trade receivables: +€14,680
- Cash -€9,388
down €9,388 (-16.8%), from €55,928 to €46,540
mainly Receivables within one year (-€9,753) and Investment in fixed assets (net) (-€7,368)
- Tangible fixed assets -€4,197
down €4,197 (-14.1%), from €29,837 to €25,640
of which Furniture and vehicles: -€6,855
- Profit (loss) carried forward -€6,987
new in 2025: -€6,987
- Trade debts +€3,916
up €3,916 (+1288.6%), from €304 to €4,220
- Gross operating margin -€58,598
down €58,598 (-91.0%), from €64,410 to €5,812
- Taxes -€13,684
no longer reported in 2025 (was €13,684)
- Financial income -€3,357
down €3,357 (-98.5%), from €3,409 to €52
- Depreciation +€1,198
up €1,198 (+11.3%), from €10,566 to €11,765
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 | €105,948 | €101,917 | -€4,031 | -3.8% |
| Fixed assets | 21/28 | €30,387 | €25,990 | -€4,397 | -14.5% |
| Intangible fixed assets | 21 | €550 | €350 | -€200 | -36.4% |
| Tangible fixed assets | 22/27 | €29,837 | €25,640 | -€4,197 | -14.1% |
| Plant, machinery and equipment | 23 | €10,985 | €13,643 | +€2,659 | +24.2% |
| Furniture and vehicles | 24 | €18,852 | €11,997 | -€6,855 | -36.4% |
| Current assets | 29/58 | €75,561 | €75,927 | +€365 | +0.5% |
| Stocks and contracts in progress | 3 | €2,250 | €2,250 | = | 0.0% |
| Stocks | 30/36 | €2,250 | €2,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,383 | €27,136 | +€9,753 | +56.1% |
| Trade receivables | 40 | €12,456 | €27,136 | +€14,680 | +117.9% |
| Other amounts receivable | 41 | €4,927 | - | -€4,927 | |
| Cash at bank and in hand | 54/58 | €55,928 | €46,540 | -€9,388 | -16.8% |
| Total equity and liabilities | 10/49 | €105,948 | €101,917 | -€4,031 | -3.8% |
| Equity | 10/15 | €100,626 | €93,639 | -€6,987 | -6.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €90,626 | €90,626 | = | 0.0% |
| Distributable reserves | 133 | €90,626 | €90,626 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,987 | -€6,987 | |
| Amounts payable | 17/49 | €5,322 | €8,277 | +€2,955 | +55.5% |
| Amounts payable within one year | 42/48 | €5,322 | €8,277 | +€2,955 | +55.5% |
| Trade debts | 44 | €304 | €4,220 | +€3,916 | +1288.6% |
| Suppliers | 440/4 | €304 | €4,220 | +€3,916 | +1288.6% |
| Taxes, remuneration and social security | 45 | €1,717 | €1,069 | -€648 | -37.8% |
| Taxes | 450/3 | - | €1,069 | +€1,069 | |
| Remuneration and social security | 454/9 | €1,717 | - | -€1,717 | |
| Other amounts payable | 47/48 | €3,301 | €2,988 | -€312 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,566 | €11,765 | +€1,198 | +11.3% |
| Other operating charges | 640/8 | €1,017 | €854 | -€163 | -16.1% |
| Non-recurring operating charges | 66A | €1,610 | - | -€1,610 | |
| Gross operating margin | 9900 | €64,410 | €5,812 | -€58,598 | -91.0% |
| Operating profit (loss) | 9901 | €51,217 | -€6,806 | -€58,023 | |
| Financial income | 75/76B | €3,409 | €52 | -€3,357 | -98.5% |
| Recurring financial income | 75 | €3,409 | €52 | -€3,357 | -98.5% |
| Financial charges | 65/66B | €196 | €233 | +€37 | +18.8% |
| Recurring financial charges | 65 | €196 | €233 | +€37 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €54,430 | -€6,987 | -€61,416 | |
| Income taxes | 67/77 | €13,684 | - | -€13,684 | |
| Profit (loss) for the period | 9904 | €40,746 | -€6,987 | -€47,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,746 | -€6,987 | -€47,733 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.