TLCA: 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.
TLCA
Largest movements
- Receivables after one year -€55,000
down €55,000 (-100.0%), from €55,000 to €0
- Stocks and contracts +€35,150
up €35,150 (+51.3%), from €68,568 to €103,718
- Receivables within one year -€18,314
down €18,314 (-54.8%), from €33,449 to €15,135
- Deferred charges and accrued income +€14,837
up €14,837 (+980.0%), from €1,514 to €16,351
- Tangible fixed assets -€12,981
down €12,981 (-36.3%), from €35,727 to €22,746
of which Leasing and similar rights: -€11,473
- Profit (loss) carried forward -€29,710
new in 2025: -€29,710
- Trade debts +€16,679
up €16,679 (+104.6%), from €15,952 to €32,631
- Current portion of long-term debt -€12,567
down €12,567 (-64.3%), from €19,556 to €6,989
- Debts after one year -€6,989
down €6,989 (-100.0%), from €6,989 to €0
- Gross operating margin -€71,112
down €71,112, from €61,300 to -€9,812
- Taxes -€10,245
down €10,245 (-100.0%), from €10,245 to €0
- Financial income -€1,280
down €1,280 (-100.0%), from €1,280 to €0
- Other operating charges -€999
down €999 (-51.6%), from €1,937 to €938
- Financial charges -€745
down €745 (-19.6%), from €3,799 to €3,054
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 | €200,656 | €167,647 | -€33,009 | -16.5% |
| Fixed assets | 21/28 | €35,727 | €22,746 | -€12,981 | -36.3% |
| Tangible fixed assets | 22/27 | €35,727 | €22,746 | -€12,981 | -36.3% |
| Plant, machinery and equipment | 23 | €10,388 | €5,525 | -€4,863 | -46.8% |
| Furniture and vehicles | 24 | €571 | €266 | -€305 | -53.4% |
| Leasing and similar rights | 25 | €24,769 | €13,296 | -€11,473 | -46.3% |
| Other tangible fixed assets | 26 | €0 | €3,660 | +€3,660 | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €164,929 | €144,901 | -€20,028 | -12.1% |
| Amounts receivable after more than one year | 29 | €55,000 | €0 | -€55,000 | -100.0% |
| Other amounts receivable | 291 | €55,000 | €0 | -€55,000 | -100.0% |
| Stocks and contracts in progress | 3 | €68,568 | €103,718 | +€35,150 | +51.3% |
| Stocks | 30/36 | €68,568 | €103,718 | +€35,150 | +51.3% |
| Amounts receivable within one year | 40/41 | €33,449 | €15,135 | -€18,314 | -54.8% |
| Trade receivables | 40 | €33,449 | €15,135 | -€18,314 | -54.8% |
| Cash at bank and in hand | 54/58 | €6,398 | €9,697 | +€3,299 | +51.6% |
| Deferred charges and accrued income | 490/1 | €1,514 | €16,351 | +€14,837 | +980.0% |
| Total equity and liabilities | 10/49 | €200,656 | €167,647 | -€33,009 | -16.5% |
| Equity | 10/15 | €110,313 | €80,603 | -€29,710 | -26.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €105,313 | €105,313 | = | 0.0% |
| Distributable reserves | 133 | €105,313 | €105,313 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€29,710 | -€29,710 | |
| Amounts payable | 17/49 | €90,343 | €87,044 | -€3,299 | -3.7% |
| Amounts payable after more than one year | 17 | €6,989 | €0 | -€6,989 | -100.0% |
| Financial debts | 170/4 | €6,989 | €0 | -€6,989 | -100.0% |
| Amounts payable within one year | 42/48 | €83,353 | €86,949 | +€3,596 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €19,556 | €6,989 | -€12,567 | -64.3% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Credit institutions | 430/8 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €15,952 | €32,631 | +€16,679 | +104.6% |
| Suppliers | 440/4 | €15,952 | €32,631 | +€16,679 | +104.6% |
| Taxes, remuneration and social security | 45 | €16,158 | €15,349 | -€810 | -5.0% |
| Taxes | 450/3 | €16,158 | €15,349 | -€810 | -5.0% |
| Other amounts payable | 47/48 | €1,687 | €1,980 | +€293 | +17.4% |
| Accrued charges and deferred income | 492/3 | - | €94 | +€94 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,337 | €15,905 | +€568 | +3.7% |
| Other operating charges | 640/8 | €1,937 | €938 | -€999 | -51.6% |
| Non-recurring operating charges | 66A | €3,904 | €0 | -€3,904 | -100.0% |
| Gross operating margin | 9900 | €61,300 | -€9,812 | -€71,112 | |
| Operating profit (loss) | 9901 | €40,122 | -€26,656 | -€66,778 | |
| Financial income | 75/76B | €1,280 | €0 | -€1,280 | -100.0% |
| Recurring financial income | 75 | €1,280 | €0 | -€1,280 | -100.0% |
| Financial charges | 65/66B | €3,799 | €3,054 | -€745 | -19.6% |
| Recurring financial charges | 65 | €3,799 | €3,054 | -€745 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €37,603 | -€29,710 | -€67,313 | |
| Income taxes | 67/77 | €10,245 | €0 | -€10,245 | -100.0% |
| Profit (loss) for the period | 9904 | €27,358 | -€29,710 | -€57,068 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,358 | -€29,710 | -€57,068 |
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 29 September 2026 via checked.be.