TL CONSTRUCT: 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.
TL CONSTRUCT
Largest movements
- Tangible fixed assets +€221,928
up €221,928 (+13.2%), from €1.7m to €1.9m
of which Land and buildings: +€220,645
- Other debts +€275,351
up €275,351 (+661.5%), from €41,626 to €316,977
- Debts after one year +€175,889
up €175,889 (+211.0%), from €83,354 to €259,243
- Trade debts -€131,571
down €131,571 (-84.1%), from €156,432 to €24,861
- Profit (loss) carried forward -€60,994
new in 2025: -€60,994
- Tax, wage and social debts -€48,755
down €48,755 (-64.8%), from €75,236 to €26,481
- Gross operating margin -€135,651
down €135,651 (-77.7%), from €174,635 to €38,984
- Taxes -€19,163
down €19,163 (-99.3%), from €19,304 to €141
- Depreciation -€8,526
down €8,526 (-8.6%), from €99,593 to €91,066
- Financial charges -€4,845
down €4,845 (-48.4%), from €10,012 to €5,167
- Other operating charges +€3,850
up €3,850 (+98.0%), from €3,931 to €7,781
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 | €1,763,157 | €1,977,059 | +€213,902 | +12.1% |
| Fixed assets | 21/28 | €1,683,758 | €1,905,687 | +€221,928 | +13.2% |
| Tangible fixed assets | 22/27 | €1,683,358 | €1,905,287 | +€221,928 | +13.2% |
| Land and buildings | 22 | €1,683,358 | €1,904,003 | +€220,645 | +13.1% |
| Plant, machinery and equipment | 23 | €0 | €1,284 | +€1,284 | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €79,399 | €71,372 | -€8,026 | -10.1% |
| Amounts receivable within one year | 40/41 | €77,797 | €67,056 | -€10,741 | -13.8% |
| Trade receivables | 40 | €250 | €66,927 | +€66,677 | +26671.0% |
| Other amounts receivable | 41 | €77,547 | €129 | -€77,418 | -99.8% |
| Cash at bank and in hand | 54/58 | €26 | €1,759 | +€1,733 | +6738.4% |
| Deferred charges and accrued income | 490/1 | €1,577 | €2,558 | +€981 | +62.2% |
| Total equity and liabilities | 10/49 | €1,763,157 | €1,977,059 | +€213,902 | +12.1% |
| Equity | 10/15 | €1,350,880 | €1,286,780 | -€64,100 | -4.7% |
| Contributions | 10/11 | €228,510 | €228,510 | = | 0.0% |
| Reserves | 13 | €1,122,370 | €1,119,264 | -€3,106 | -0.3% |
| Non-distributable reserves | 130/1 | €24,090 | €24,090 | = | 0.0% |
| Reserves not available under the articles | 1311 | €24,090 | €24,090 | = | 0.0% |
| Tax-exempt reserves | 132 | €107,178 | €104,073 | -€3,106 | -2.9% |
| Distributable reserves | 133 | €991,101 | €991,101 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€60,994 | -€60,994 | |
| Provisions and deferred taxes | 16 | €33,127 | €32,092 | -€1,035 | -3.1% |
| Deferred taxes | 168 | €33,127 | €32,092 | -€1,035 | -3.1% |
| Amounts payable | 17/49 | €379,151 | €658,188 | +€279,037 | +73.6% |
| Amounts payable after more than one year | 17 | €83,354 | €259,243 | +€175,889 | +211.0% |
| Financial debts | 170/4 | €83,354 | €259,243 | +€175,889 | +211.0% |
| Amounts payable within one year | 42/48 | €293,778 | €397,545 | +€103,767 | +35.3% |
| Current portion of amounts payable after more than one year | 42 | €20,484 | €29,226 | +€8,742 | +42.7% |
| Trade debts | 44 | €156,432 | €24,861 | -€131,571 | -84.1% |
| Suppliers | 440/4 | €156,432 | €24,861 | -€131,571 | -84.1% |
| Taxes, remuneration and social security | 45 | €75,236 | €26,481 | -€48,755 | -64.8% |
| Taxes | 450/3 | €75,236 | €26,481 | -€48,755 | -64.8% |
| Other amounts payable | 47/48 | €41,626 | €316,977 | +€275,351 | +661.5% |
| Accrued charges and deferred income | 492/3 | €2,019 | €1,400 | -€619 | -30.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,593 | €91,066 | -€8,526 | -8.6% |
| Other operating charges | 640/8 | €3,931 | €7,781 | +€3,850 | +98.0% |
| Gross operating margin | 9900 | €174,635 | €38,984 | -€135,651 | -77.7% |
| Operating profit (loss) | 9901 | €71,112 | -€59,864 | -€130,975 | |
| Financial income | 75/76B | €601 | €36 | -€565 | -94.0% |
| Recurring financial income | 75 | €601 | €36 | -€565 | -94.0% |
| Financial charges | 65/66B | €10,012 | €5,167 | -€4,845 | -48.4% |
| Recurring financial charges | 65 | €10,012 | €5,167 | -€4,845 | -48.4% |
| Profit (loss) for the period before taxes | 9903 | €61,701 | -€64,994 | -€126,695 | |
| Transfer from deferred taxes | 780 | €1,035 | €1,035 | = | 0.0% |
| Income taxes | 67/77 | €19,304 | €141 | -€19,163 | -99.3% |
| Profit (loss) for the period | 9904 | €43,432 | -€64,100 | -€107,532 | |
| Transfer from tax-exempt reserves | 789 | €3,106 | €3,106 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,537 | -€60,994 | -€107,532 |
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 3 October 2026 via checked.be.