TKR: 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.
TKR
Largest movements
- Stocks and contracts -€966,032
no longer reported in 2025 (was €966,032)
- Short-term financial debts -€758,841
no longer reported in 2025 (was €758,841)
- Other debts -€325,267
down €325,267 (-99.7%), from €326,382 to €1,115
- Profit (loss) carried forward +€118,162
up €118,162, from -€113,163 to €4,999
- Gross operating margin +€168,459
up €168,459, from -€32,001 to €136,458
- Financial charges -€31,766
down €31,766 (-66.9%), from €47,497 to €15,731
- Taxes +€1,820
new in 2025: €1,820
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 | €981,825 | €16,315 | -€965,510 | -98.3% |
| Current assets | 29/58 | €981,825 | €16,315 | -€965,510 | -98.3% |
| Stocks and contracts in progress | 3 | €966,032 | - | -€966,032 | |
| Stocks | 30/36 | €966,032 | - | -€966,032 | |
| Amounts receivable within one year | 40/41 | €14,493 | €13,927 | -€566 | -3.9% |
| Trade receivables | 40 | €8,841 | €13,925 | +€5,083 | +57.5% |
| Other amounts receivable | 41 | €5,652 | €3 | -€5,649 | -100.0% |
| Cash at bank and in hand | 54/58 | - | €2,388 | +€2,388 | |
| Deferred charges and accrued income | 490/1 | €1,300 | - | -€1,300 | |
| Total equity and liabilities | 10/49 | €981,825 | €16,315 | -€965,510 | -98.3% |
| Equity | 10/15 | -€109,163 | €8,999 | +€118,162 | |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€113,163 | €4,999 | +€118,162 | |
| Amounts payable | 17/49 | €1,090,989 | €7,316 | -€1.1m | -99.3% |
| Amounts payable within one year | 42/48 | €1,090,989 | €7,316 | -€1.1m | -99.3% |
| Financial debts | 43 | €758,841 | - | -€758,841 | |
| Credit institutions | 430/8 | €758,841 | - | -€758,841 | |
| Trade debts | 44 | €5,766 | €4,382 | -€1,384 | -24.0% |
| Suppliers | 440/4 | €5,766 | €4,382 | -€1,384 | -24.0% |
| Taxes, remuneration and social security | 45 | - | €1,820 | +€1,820 | |
| Taxes | 450/3 | - | €1,820 | +€1,820 | |
| Other amounts payable | 47/48 | €326,382 | €1,115 | -€325,267 | -99.7% |
| Other operating charges | 640/8 | €730 | €745 | +€14 | +2.0% |
| Gross operating margin | 9900 | -€32,001 | €136,458 | +€168,459 | |
| Operating profit (loss) | 9901 | -€32,732 | €135,713 | +€168,444 | |
| Financial charges | 65/66B | €47,497 | €15,731 | -€31,766 | -66.9% |
| Recurring financial charges | 65 | €47,497 | €15,731 | -€31,766 | -66.9% |
| Profit (loss) for the period before taxes | 9903 | -€80,229 | €119,982 | +€200,211 | |
| Income taxes | 67/77 | - | €1,820 | +€1,820 | |
| Profit (loss) for the period | 9904 | -€80,229 | €118,162 | +€198,391 | |
| Profit (loss) for the period to be appropriated | 9905 | -€80,229 | €118,162 | +€198,391 |
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 4 October 2026 via checked.be.