TN NETWORK: 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 NETWORK
Largest movements
- Tangible fixed assets +€237,013
up €237,013 (+97.1%), from €244,211 to €481,224
of which Leasing and similar rights: +€188,282
- Cash +€106,298
up €106,298 (+300%), from €35,450 to €141,748
mainly Debts after one year (+€144,084) and Net result for the year (+€133,880)
- Receivables within one year +€35,468
up €35,468 (+68.7%), from €51,617 to €87,085
of which Other amounts receivable: +€77,128
- Debts after one year +€144,084
up €144,084 (+87.9%), from €163,843 to €307,927
- Profit (loss) carried forward +€133,880
up €133,880, from -€1,934 to €131,946
- Current portion of long-term debt +€64,269
up €64,269 (+92.0%), from €69,861 to €134,130
- Tax, wage and social debts +€52,802
up €52,802 (+319%), from €16,541 to €69,343
of which Taxes: +€45,189
- Trade debts -€10,253
down €10,253 (-13.8%), from €74,268 to €64,014
- Gross operating margin +€697,975
up €697,975 (+419%), from €166,591 to €864,566
- Staff costs +€424,330
up €424,330 (+322%), from €131,781 to €556,112
- Depreciation +€74,378
up €74,378 (+295%), from €25,225 to €99,603
- Taxes +€45,189
new in 2025: €45,189
- Financial charges +€10,609
up €10,609 (+168%), from €6,301 to €16,910
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.
Derived cash bridge
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 | €332,170 | €714,013 | +€381,843 | +115% |
| Fixed assets | 21/28 | €244,211 | €483,774 | +€239,563 | +98.1% |
| Tangible fixed assets | 22/27 | €244,211 | €481,224 | +€237,013 | +97.1% |
| Plant, machinery and equipment | 23 | - | €20,032 | +€20,032 | |
| Furniture and vehicles | 24 | €70,656 | €99,354 | +€28,699 | +40.6% |
| Leasing and similar rights | 25 | €173,555 | €361,837 | +€188,282 | +108% |
| Financial fixed assets | 28 | - | €2,550 | +€2,550 | |
| Current assets | 29/58 | €87,960 | €230,239 | +€142,280 | +162% |
| Amounts receivable within one year | 40/41 | €51,617 | €87,085 | +€35,468 | +68.7% |
| Trade receivables | 40 | €43,711 | €2,051 | -€41,660 | -95.3% |
| Other amounts receivable | 41 | €7,906 | €85,034 | +€77,128 | +976% |
| Cash at bank and in hand | 54/58 | €35,450 | €141,748 | +€106,298 | +300% |
| Deferred charges and accrued income | 490/1 | €893 | €1,407 | +€514 | +57.6% |
| Total equity and liabilities | 10/49 | €332,170 | €714,013 | +€381,843 | +115% |
| Equity | 10/15 | €4,066 | €137,946 | +€133,880 | +3,292% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,934 | €131,946 | +€133,880 | |
| Amounts payable | 17/49 | €328,104 | €576,067 | +€247,963 | +75.6% |
| Amounts payable after more than one year | 17 | €163,843 | €307,927 | +€144,084 | +87.9% |
| Financial debts | 170/4 | €163,843 | €307,927 | +€144,084 | +87.9% |
| Amounts payable within one year | 42/48 | €164,261 | €268,140 | +€103,879 | +63.2% |
| Current portion of amounts payable after more than one year | 42 | €69,861 | €134,130 | +€64,269 | +92.0% |
| Trade debts | 44 | €74,268 | €64,014 | -€10,253 | -13.8% |
| Suppliers | 440/4 | €74,268 | €64,014 | -€10,253 | -13.8% |
| Taxes, remuneration and social security | 45 | €16,541 | €69,343 | +€52,802 | +319% |
| Taxes | 450/3 | - | €45,189 | +€45,189 | |
| Remuneration and social security | 454/9 | €16,541 | €24,153 | +€7,613 | +46.0% |
| Other amounts payable | 47/48 | €3,591 | €653 | -€2,939 | -81.8% |
| Remuneration, social security and pensions | 62 | €131,781 | €556,112 | +€424,330 | +322% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,225 | €99,603 | +€74,378 | +295% |
| Other operating charges | 640/8 | €5,217 | €13,093 | +€7,876 | +151% |
| Gross operating margin | 9900 | €166,591 | €864,566 | +€697,975 | +419% |
| Operating profit (loss) | 9901 | €4,367 | €195,758 | +€191,390 | +4,382% |
| Financial income | 75/76B | €0 | €222 | +€222 | +2,216,500% |
| Recurring financial income | 75 | €0 | €222 | +€222 | +2,216,500% |
| Financial charges | 65/66B | €6,301 | €16,910 | +€10,609 | +168% |
| Recurring financial charges | 65 | €6,301 | €16,910 | +€10,609 | +168% |
| Profit (loss) for the period before taxes | 9903 | -€1,934 | €179,069 | +€181,003 | |
| Income taxes | 67/77 | - | €45,189 | +€45,189 | |
| Profit (loss) for the period | 9904 | -€1,934 | €133,880 | +€135,813 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,934 | €133,880 | +€135,813 |
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 17 October 2026 via checked.be.