TLJN: 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.
TLJN
Largest movements
- Receivables within one year +€76,940
up €76,940 (+328.7%), from €23,406 to €100,347
of which Trade receivables: +€70,653
- Tangible fixed assets +€27,710
new in 2025: €27,710
- Cash -€26,208
down €26,208 (-76.2%), from €34,390 to €8,182
mainly Receivables within one year (-€76,940) and Investment in fixed assets (net) (-€29,384)
- Stocks and contracts -€22,125
down €22,125 (-16.2%), from €136,553 to €114,428
- Trade debts +€67,873
new in 2025: €67,873
- Tax, wage and social debts -€6,255
down €6,255 (-61.7%), from €10,136 to €3,881
- Profit (loss) carried forward -€4,137
down €4,137 (-6.3%), from €65,746 to €61,609
- Gross operating margin -€19,667
down €19,667 (-87.4%), from €22,501 to €2,833
- Financial charges -€3,980
down €3,980 (-47.8%), from €8,331 to €4,351
- Other operating charges -€3,212
down €3,212 (-81.3%), from €3,952 to €740
- Depreciation +€1,675
new in 2025: €1,675
- Taxes -€1,443
down €1,443 (-87.6%), from €1,648 to €205
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 | €195,290 | €251,660 | +€56,370 | +28.9% |
| Fixed assets | 21/28 | - | €27,710 | +€27,710 | |
| Tangible fixed assets | 22/27 | - | €27,710 | +€27,710 | |
| Furniture and vehicles | 24 | - | €27,710 | +€27,710 | |
| Current assets | 29/58 | €195,290 | €223,950 | +€28,660 | +14.7% |
| Stocks and contracts in progress | 3 | €136,553 | €114,428 | -€22,125 | -16.2% |
| Stocks | 30/36 | €136,553 | €114,428 | -€22,125 | -16.2% |
| Amounts receivable within one year | 40/41 | €23,406 | €100,347 | +€76,940 | +328.7% |
| Trade receivables | 40 | €23,206 | €93,860 | +€70,653 | +304.5% |
| Other amounts receivable | 41 | €200 | €6,487 | +€6,287 | +3143.5% |
| Cash at bank and in hand | 54/58 | €34,390 | €8,182 | -€26,208 | -76.2% |
| Deferred charges and accrued income | 490/1 | €942 | €994 | +€53 | +5.6% |
| Total equity and liabilities | 10/49 | €195,290 | €251,660 | +€56,370 | +28.9% |
| Equity | 10/15 | €86,206 | €82,069 | -€4,137 | -4.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,746 | €61,609 | -€4,137 | -6.3% |
| Amounts payable | 17/49 | €109,085 | €169,591 | +€60,507 | +55.5% |
| Amounts payable within one year | 42/48 | €105,190 | €165,697 | +€60,507 | +57.5% |
| Financial debts | 43 | €70,000 | €70,000 | = | 0.0% |
| Credit institutions | 430/8 | €70,000 | €70,000 | = | 0.0% |
| Trade debts | 44 | - | €67,873 | +€67,873 | |
| Suppliers | 440/4 | - | €67,873 | +€67,873 | |
| Advances received on contracts in progress | 46 | €1,111 | €0 | -€1,111 | -100.0% |
| Taxes, remuneration and social security | 45 | €10,136 | €3,881 | -€6,255 | -61.7% |
| Taxes | 450/3 | €10,136 | €3,881 | -€6,255 | -61.7% |
| Other amounts payable | 47/48 | €23,943 | €23,943 | +€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,895 | €3,895 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,675 | +€1,675 | |
| Other operating charges | 640/8 | €3,952 | €740 | -€3,212 | -81.3% |
| Gross operating margin | 9900 | €22,501 | €2,833 | -€19,667 | -87.4% |
| Operating profit (loss) | 9901 | €18,548 | €419 | -€18,130 | -97.7% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100.0% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100.0% |
| Financial charges | 65/66B | €8,331 | €4,351 | -€3,980 | -47.8% |
| Recurring financial charges | 65 | €8,331 | €4,351 | -€3,980 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €10,220 | -€3,932 | -€14,152 | |
| Income taxes | 67/77 | €1,648 | €205 | -€1,443 | -87.6% |
| Profit (loss) for the period | 9904 | €8,572 | -€4,137 | -€12,709 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,572 | -€4,137 | -€12,709 |
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.