TND 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.
TND Group
Largest movements
- Receivables within one year +€59,983
new in 2025: €59,983
of which Other amounts receivable: +€52,142
- Tangible fixed assets +€49,338
up €49,338 (+59.2%), from €83,409 to €132,747
of which Plant, machinery and equipment: +€41,329
- Cash -€19,381
down €19,381 (-37.4%), from €51,789 to €32,408
mainly Investment in fixed assets (net) (-€73,298) and Receivables within one year (-€59,983)
- Stocks and contracts +€6,457
new in 2025: €6,457
- Debts after one year +€35,085
up €35,085 (+67.5%), from €51,995 to €87,080
- Investment grants +€21,053
new in 2025: €21,053
- Tax, wage and social debts +€19,075
up €19,075 (+805%), from €2,370 to €21,445
of which Taxes: +€13,495
- Trade debts +€18,475
up €18,475 (+154%), from €11,981 to €30,455
- Profit (loss) carried forward +€4,841
up €4,841 (+37.8%), from -€12,796 to -€7,955
- Gross operating margin +€66,689
up €66,689 (+231%), from €28,894 to €95,582
- Staff costs +€48,825
up €48,825 (+280%), from €17,419 to €66,244
- Depreciation +€13,772
up €13,772 (+135%), from €10,188 to €23,960
- Other operating charges -€11,527
down €11,527 (-86.6%), from €13,313 to €1,786
- Financial income +€5,263
up €5,263 (+52,633,800%), from €0 to €5,263
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 | €148,811 | €247,317 | +€98,506 | +66.2% |
| Fixed assets | 21/28 | €96,309 | €145,647 | +€49,338 | +51.2% |
| Tangible fixed assets | 22/27 | €83,409 | €132,747 | +€49,338 | +59.2% |
| Plant, machinery and equipment | 23 | €72,584 | €113,913 | +€41,329 | +56.9% |
| Furniture and vehicles | 24 | €10,825 | €18,834 | +€8,009 | +74.0% |
| Financial fixed assets | 28 | €12,900 | €12,900 | = | 0.0% |
| Current assets | 29/58 | €52,501 | €101,669 | +€49,168 | +93.7% |
| Stocks and contracts in progress | 3 | - | €6,457 | +€6,457 | |
| Stocks | 30/36 | - | €6,457 | +€6,457 | |
| Amounts receivable within one year | 40/41 | - | €59,983 | +€59,983 | |
| Trade receivables | 40 | - | €7,841 | +€7,841 | |
| Other amounts receivable | 41 | - | €52,142 | +€52,142 | |
| Cash at bank and in hand | 54/58 | €51,789 | €32,408 | -€19,381 | -37.4% |
| Deferred charges and accrued income | 490/1 | €712 | €2,821 | +€2,110 | +296% |
| Total equity and liabilities | 10/49 | €148,811 | €247,317 | +€98,506 | +66.2% |
| Equity | 10/15 | €82,442 | €108,337 | +€25,895 | +31.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €76,638 | €76,638 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,331 | €1,331 | = | 0.0% |
| Legal reserve | 130 | €1,331 | - | -€1,331 | |
| Reserves not available under the articles | 1311 | - | €1,331 | +€1,331 | |
| Tax-exempt reserves | 132 | €16,404 | €16,404 | = | 0.0% |
| Distributable reserves | 133 | €58,903 | €58,903 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,796 | -€7,955 | +€4,841 | +37.8% |
| Investment grants | 15 | - | €21,053 | +€21,053 | |
| Amounts payable | 17/49 | €66,369 | €138,980 | +€72,611 | +109% |
| Amounts payable after more than one year | 17 | €51,995 | €87,080 | +€35,085 | +67.5% |
| Financial debts | 170/4 | €51,995 | €87,080 | +€35,085 | +67.5% |
| Amounts payable within one year | 42/48 | €14,374 | €51,900 | +€37,526 | +261% |
| Trade debts | 44 | €11,981 | €30,455 | +€18,475 | +154% |
| Suppliers | 440/4 | €11,981 | €30,455 | +€18,475 | +154% |
| Taxes, remuneration and social security | 45 | €2,370 | €21,445 | +€19,075 | +805% |
| Taxes | 450/3 | €2,370 | €15,865 | +€13,495 | +569% |
| Remuneration and social security | 454/9 | - | €5,580 | +€5,580 | |
| Other amounts payable | 47/48 | €24 | - | -€24 | |
| Remuneration, social security and pensions | 62 | €17,419 | €66,244 | +€48,825 | +280% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,188 | €23,960 | +€13,772 | +135% |
| Other operating charges | 640/8 | €13,313 | €1,786 | -€11,527 | -86.6% |
| Gross operating margin | 9900 | €28,894 | €95,582 | +€66,689 | +231% |
| Operating profit (loss) | 9901 | -€12,027 | €3,593 | +€15,619 | |
| Financial income | 75/76B | €0 | €5,263 | +€5,263 | +52,633,800% |
| Recurring financial income | 75 | €0 | €5,263 | +€5,263 | +52,633,800% |
| Financial charges | 65/66B | €793 | €3,908 | +€3,115 | +393% |
| Recurring financial charges | 65 | €793 | €3,908 | +€3,115 | +393% |
| Profit (loss) for the period before taxes | 9903 | -€12,820 | €4,948 | +€17,768 | |
| Income taxes | 67/77 | -€23 | €106 | +€130 | |
| Profit (loss) for the period | 9904 | -€12,796 | €4,841 | +€17,638 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,796 | €4,841 | +€17,638 |
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 19 October 2026 via checked.be.