TN Group: what changed
Two financial 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.
TN Group
Largest movements
- Deferred charges and accrued income -€80,541
down €80,541 (-96.6%), from €83,375 to €2,834
- Cash +€67,109
up €67,109 (+255.2%), from €26,295 to €93,403
mainly Deferred charges and accrued income (+€80,541) and Receivables within one year (+€36,583)
- Receivables within one year -€36,583
down €36,583 (-50.4%), from €72,575 to €35,992
of which Trade receivables: -€35,877
- Tangible fixed assets -€11,202
down €11,202 (-22.8%), from €49,105 to €37,903
of which Furniture and vehicles: -€7,749
- Trade debts -€32,012
down €32,012 (-55.0%), from €58,178 to €26,166
- Debts after one year -€20,082
down €20,082 (-68.4%), from €29,379 to €9,298
- Accrued charges and deferred income -€14,013
down €14,013 (-97.4%), from €14,393 to €380
- Reserves +€9,535
up €9,535 (+13.7%), from €69,762 to €79,296
- Tax, wage and social debts -€5,815
down €5,815 (-15.4%), from €37,660 to €31,845
of which Remuneration and social security: -€3,497
- Gross operating margin -€39,312
down €39,312 (-18.2%), from €216,435 to €177,123
- Taxes -€14,167
down €14,167 (-79.1%), from €17,915 to €3,748
- Staff costs +€12,303
up €12,303 (+9.1%), from €135,191 to €147,494
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 | €231,700 | €170,482 | -€61,218 | -26.4% |
| Fixed assets | 21/28 | €49,455 | €38,253 | -€11,202 | -22.7% |
| Tangible fixed assets | 22/27 | €49,105 | €37,903 | -€11,202 | -22.8% |
| Plant, machinery and equipment | 23 | €21,595 | €18,141 | -€3,453 | -16.0% |
| Furniture and vehicles | 24 | €27,510 | €19,762 | -€7,749 | -28.2% |
| Financial fixed assets | 28 | €350 | €350 | = | 0.0% |
| Current assets | 29/58 | €182,245 | €132,229 | -€50,016 | -27.4% |
| Amounts receivable within one year | 40/41 | €72,575 | €35,992 | -€36,583 | -50.4% |
| Trade receivables | 40 | €71,075 | €35,198 | -€35,877 | -50.5% |
| Other amounts receivable | 41 | €1,500 | €794 | -€706 | -47.1% |
| Cash at bank and in hand | 54/58 | €26,295 | €93,403 | +€67,109 | +255.2% |
| Deferred charges and accrued income | 490/1 | €83,375 | €2,834 | -€80,541 | -96.6% |
| Total equity and liabilities | 10/49 | €231,700 | €170,482 | -€61,218 | -26.4% |
| Equity | 10/15 | €72,762 | €82,296 | +€9,535 | +13.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €69,762 | €79,296 | +€9,535 | +13.7% |
| Distributable reserves | 133 | €69,762 | €79,296 | +€9,535 | +13.7% |
| Amounts payable | 17/49 | €158,939 | €88,186 | -€70,753 | -44.5% |
| Amounts payable after more than one year | 17 | €29,379 | €9,298 | -€20,082 | -68.4% |
| Financial debts | 170/4 | €29,379 | €9,298 | -€20,082 | -68.4% |
| Amounts payable within one year | 42/48 | €115,166 | €78,508 | -€36,659 | -31.8% |
| Current portion of amounts payable after more than one year | 42 | €17,891 | €18,832 | +€941 | +5.3% |
| Trade debts | 44 | €58,178 | €26,166 | -€32,012 | -55.0% |
| Suppliers | 440/4 | €58,178 | €26,166 | -€32,012 | -55.0% |
| Taxes, remuneration and social security | 45 | €37,660 | €31,845 | -€5,815 | -15.4% |
| Taxes | 450/3 | €29,633 | €27,316 | -€2,318 | -7.8% |
| Remuneration and social security | 454/9 | €8,027 | €4,530 | -€3,497 | -43.6% |
| Other amounts payable | 47/48 | €1,437 | €1,665 | +€228 | +15.8% |
| Accrued charges and deferred income | 492/3 | €14,393 | €380 | -€14,013 | -97.4% |
| Remuneration, social security and pensions | 62 | €135,191 | €147,494 | +€12,303 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,964 | €11,854 | +€890 | +8.1% |
| Other operating charges | 640/8 | €3,316 | €2,303 | -€1,013 | -30.5% |
| Non-recurring operating charges | 66A | €160 | €48 | -€112 | -69.9% |
| Gross operating margin | 9900 | €216,435 | €177,123 | -€39,312 | -18.2% |
| Operating profit (loss) | 9901 | €66,803 | €15,424 | -€51,379 | -76.9% |
| Financial income | 75/76B | €150 | €1 | -€148 | -99.1% |
| Recurring financial income | 75 | €150 | €1 | -€148 | -99.1% |
| Financial charges | 65/66B | €2,124 | €2,143 | +€19 | +0.9% |
| Recurring financial charges | 65 | €2,124 | €2,143 | +€19 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €64,829 | €13,283 | -€51,546 | -79.5% |
| Income taxes | 67/77 | €17,915 | €3,748 | -€14,167 | -79.1% |
| Profit (loss) for the period | 9904 | €46,914 | €9,535 | -€37,379 | -79.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,914 | €9,535 | -€37,379 | -79.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.