TNN: 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.
TNN
Largest movements
- Financial fixed assets +€360,088
up €360,088 (+4001.0%), from €9,000 to €369,088
- Current investments -€168,502
down €168,502 (-20.5%), from €820,719 to €652,217
- Cash -€142,107
down €142,107 (-31.8%), from €446,754 to €304,647
mainly Investment in fixed assets (net) (-€366,603) and Contributions, distributions and other (-€200,000)
- Receivables after one year +€100,731
up €100,731 (+43.9%), from €229,269 to €330,000
of which Other amounts receivable: +€100,731
- Deferred charges and accrued income +€23,420
up €23,420 (+381.3%), from €6,142 to €29,561
- Reserves +€510,000
up €510,000 (+53.0%), from €963,000 to €1.5m
- Other debts -€196,651
down €196,651 (-49.1%), from €400,414 to €203,764
- Tax, wage and social debts -€43,368
down €43,368 (-46.1%), from €93,998 to €50,631
of which Taxes: -€43,368
- Profit (loss) carried forward -€39,300
down €39,300 (-95.3%), from €41,225 to €1,925
- Financial income +€431,960
up €431,960 (+1599.5%), from €27,006 to €458,965
of which Financial income: +€350,468
- Taxes +€30,645
up €30,645 (+113.5%), from €27,006 to €57,651
- Depreciation -€14,781
down €14,781 (-68.5%), from €21,572 to €6,791
- Financial charges +€8,676
up €8,676 (+326.2%), from €2,659 to €11,335
of which Non-recurring financial charges: +€6,842
- Gross operating margin -€7,680
down €7,680 (-2.5%), from €307,952 to €300,271
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 | €1,554,862 | €1,750,782 | +€195,920 | +12.6% |
| Fixed assets | 21/28 | €48,983 | €408,795 | +€359,812 | +734.6% |
| Tangible fixed assets | 22/27 | €39,983 | €39,707 | -€276 | -0.7% |
| Land and buildings | 22 | €7,764 | €0 | -€7,764 | -100.0% |
| Furniture and vehicles | 24 | €32,219 | €33,110 | +€891 | +2.8% |
| Other tangible fixed assets | 26 | - | €6,597 | +€6,597 | |
| Financial fixed assets | 28 | €9,000 | €369,088 | +€360,088 | +4001.0% |
| Current assets | 29/58 | €1,505,879 | €1,341,987 | -€163,891 | -10.9% |
| Amounts receivable after more than one year | 29 | €229,269 | €330,000 | +€100,731 | +43.9% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €229,269 | €330,000 | +€100,731 | +43.9% |
| Amounts receivable within one year | 40/41 | €2,996 | €25,562 | +€22,567 | +753.3% |
| Trade receivables | 40 | €0 | €22,665 | +€22,665 | |
| Other amounts receivable | 41 | €2,996 | €2,897 | -€98 | -3.3% |
| Current investments | 50/53 | €820,719 | €652,217 | -€168,502 | -20.5% |
| Cash at bank and in hand | 54/58 | €446,754 | €304,647 | -€142,107 | -31.8% |
| Deferred charges and accrued income | 490/1 | €6,142 | €29,561 | +€23,420 | +381.3% |
| Total equity and liabilities | 10/49 | €1,554,862 | €1,750,782 | +€195,920 | +12.6% |
| Equity | 10/15 | €1,006,725 | €1,477,425 | +€470,700 | +46.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €963,000 | €1,473,000 | +€510,000 | +53.0% |
| Distributable reserves | 133 | €963,000 | €1,473,000 | +€510,000 | +53.0% |
| Profit (loss) carried forward | 14 | €41,225 | €1,925 | -€39,300 | -95.3% |
| Amounts payable | 17/49 | €548,137 | €273,357 | -€274,780 | -50.1% |
| Amounts payable after more than one year | 17 | €8,222 | €0 | -€8,222 | -100.0% |
| Financial debts | 170/4 | €8,222 | €0 | -€8,222 | -100.0% |
| Amounts payable within one year | 42/48 | €539,915 | €273,357 | -€266,558 | -49.4% |
| Current portion of amounts payable after more than one year | 42 | €17,373 | €8,222 | -€9,151 | -52.7% |
| Trade debts | 44 | €28,129 | €10,740 | -€17,388 | -61.8% |
| Suppliers | 440/4 | €28,129 | €10,740 | -€17,388 | -61.8% |
| Taxes, remuneration and social security | 45 | €93,998 | €50,631 | -€43,368 | -46.1% |
| Taxes | 450/3 | €93,998 | €50,631 | -€43,368 | -46.1% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €400,414 | €203,764 | -€196,651 | -49.1% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | -€0 | -75.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,572 | €6,791 | -€14,781 | -68.5% |
| Other operating charges | 640/8 | €17,557 | €12,759 | -€4,798 | -27.3% |
| Gross operating margin | 9900 | €307,952 | €300,271 | -€7,680 | -2.5% |
| Operating profit (loss) | 9901 | €268,823 | €280,722 | +€11,899 | +4.4% |
| Financial income | 75/76B | €27,006 | €458,965 | +€431,960 | +1599.5% |
| Recurring financial income | 75 | €27,006 | €377,474 | +€350,468 | +1297.8% |
| Non-recurring financial income | 76B | - | €81,491 | +€81,491 | |
| Financial charges | 65/66B | €2,659 | €11,335 | +€8,676 | +326.2% |
| Recurring financial charges | 65 | €2,659 | €4,493 | +€1,834 | +69.0% |
| Non-recurring financial charges | 66B | - | €6,842 | +€6,842 | |
| Profit (loss) for the period before taxes | 9903 | €293,169 | €728,352 | +€435,182 | +148.4% |
| Income taxes | 67/77 | €27,006 | €57,651 | +€30,645 | +113.5% |
| Profit (loss) for the period | 9904 | €266,163 | €670,700 | +€404,537 | +152.0% |
| Profit (loss) for the period to be appropriated | 9905 | €266,163 | €670,700 | +€404,537 | +152.0% |
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.