TLV Trust Management: what changed
TLV Trust Management
Largest movements
- Receivables within one year -€137,021
down €137,021 (-96.5%), from €142,021 to €5,000
of which Trade receivables: -€135,073
- Trade debts -€137,245
down €137,245 (-96.7%), from €141,876 to €4,631
- Profit (loss) carried forward +€3,757
up €3,757 (+12.5%), from -€30,053 to -€26,295
- Other debts -€3,615
down €3,615 (-13.3%), from €27,281 to €23,666
- Gross operating margin +€31,559
up €31,559, from -€27,726 to €3,834
- Depreciation -€2,313
no longer reported in 2025 (was €2,313)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €142,104 | €5,001 | -€137,103 | -96.5% |
| Current assets | 29/58 | €142,104 | €5,001 | -€137,103 | -96.5% |
| Amounts receivable within one year | 40/41 | €142,021 | €5,000 | -€137,021 | -96.5% |
| Trade receivables | 40 | €140,073 | €5,000 | -€135,073 | -96.4% |
| Other amounts receivable | 41 | €1,948 | €0 | -€1,948 | -100% |
| Cash at bank and in hand | 54/58 | €83 | €1 | -€82 | -98.4% |
| Total equity and liabilities | 10/49 | €142,104 | €5,001 | -€137,103 | -96.5% |
| Equity | 10/15 | -€27,053 | -€23,295 | +€3,757 | +13.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,053 | -€26,295 | +€3,757 | +12.5% |
| Amounts payable | 17/49 | €169,156 | €28,297 | -€140,860 | -83.3% |
| Amounts payable within one year | 42/48 | €169,156 | €28,297 | -€140,860 | -83.3% |
| Trade debts | 44 | €141,876 | €4,631 | -€137,245 | -96.7% |
| Suppliers | 440/4 | €141,876 | €4,631 | -€137,245 | -96.7% |
| Other amounts payable | 47/48 | €27,281 | €23,666 | -€3,615 | -13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,313 | - | -€2,313 | |
| Gross operating margin | 9900 | -€27,726 | €3,834 | +€31,559 | |
| Operating profit (loss) | 9901 | -€30,039 | €3,834 | +€33,872 | |
| Financial charges | 65/66B | €14 | €76 | +€62 | +444% |
| Recurring financial charges | 65 | €14 | €76 | +€62 | +444% |
| Profit (loss) for the period before taxes | 9903 | -€30,053 | €3,757 | +€33,810 | |
| Profit (loss) for the period | 9904 | -€30,053 | €3,757 | +€33,810 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,053 | €3,757 | +€33,810 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.