TNP: 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.
TNP
Largest movements
- Current investments +€175,000
new in 2025: €175,000
- Cash -€148,927
down €148,927 (-80.4%), from €185,218 to €36,291
mainly Current investments (-€175,000) and Investment in fixed assets (net) (-€62,343)
- Tangible fixed assets +€37,344
up €37,344 (+10.8%), from €345,239 to €382,583
of which Furniture and vehicles: +€49,781
- Receivables within one year -€13,396
down €13,396 (-76.6%), from €17,487 to €4,091
of which Other amounts receivable: -€7,465
- Deferred charges and accrued income -€9,105
down €9,105 (-63.6%), from €14,319 to €5,214
- Reserves +€45,318
up €45,318 (+9.8%), from €464,246 to €509,563
of which Distributable reserves: +€45,318
- Debts after one year -€21,410
down €21,410 (-66.4%), from €32,255 to €10,845
- Other debts +€8,694
up €8,694 (+34.1%), from €25,515 to €34,209
- Tax, wage and social debts +€7,848
up €7,848 (+115%), from €6,804 to €14,652
of which Taxes: +€5,848
- Purchases and services -€75,657
no longer reported in 2025 (was €75,657)
- Financial income +€17,962
up €17,962 (+3,103%), from €579 to €18,541
of which Non-recurring financial income: +€17,579
- Gross operating margin +€12,535
up €12,535 (+12.4%), from €101,392 to €113,927
- Depreciation +€9,705
up €9,705 (+63.5%), from €15,293 to €24,999
- Taxes +€9,475
up €9,475 (+42.2%), from €22,464 to €31,939
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 | €562,262 | €603,178 | +€40,916 | +7.3% |
| Fixed assets | 21/28 | €345,239 | €382,583 | +€37,344 | +10.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €345,239 | €382,583 | +€37,344 | +10.8% |
| Land and buildings | 22 | €327,818 | €317,617 | -€10,201 | -3.1% |
| Plant, machinery and equipment | 23 | €9,873 | €7,637 | -€2,236 | -22.6% |
| Furniture and vehicles | 24 | €7,548 | €57,329 | +€49,781 | +660% |
| Current assets | 29/58 | €217,023 | €220,595 | +€3,572 | +1.6% |
| Amounts receivable within one year | 40/41 | €17,487 | €4,091 | -€13,396 | -76.6% |
| Trade receivables | 40 | €6,474 | €543 | -€5,931 | -91.6% |
| Other amounts receivable | 41 | €11,013 | €3,547 | -€7,465 | -67.8% |
| Current investments | 50/53 | - | €175,000 | +€175,000 | |
| Cash at bank and in hand | 54/58 | €185,218 | €36,291 | -€148,927 | -80.4% |
| Deferred charges and accrued income | 490/1 | €14,319 | €5,214 | -€9,105 | -63.6% |
| Total equity and liabilities | 10/49 | €562,262 | €603,178 | +€40,916 | +7.3% |
| Equity | 10/15 | €476,646 | €521,963 | +€45,318 | +9.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €464,246 | €509,563 | +€45,318 | +9.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €462,386 | €507,703 | +€45,318 | +9.8% |
| Amounts payable | 17/49 | €85,616 | €81,215 | -€4,401 | -5.1% |
| Amounts payable after more than one year | 17 | €32,255 | €10,845 | -€21,410 | -66.4% |
| Financial debts | 170/4 | €32,255 | €10,845 | -€21,410 | -66.4% |
| Amounts payable within one year | 42/48 | €53,361 | €70,370 | +€17,009 | +31.9% |
| Current portion of amounts payable after more than one year | 42 | €21,042 | €21,410 | +€368 | +1.7% |
| Trade debts | 44 | - | €99 | +€99 | |
| Suppliers | 440/4 | - | €99 | +€99 | |
| Taxes, remuneration and social security | 45 | €6,804 | €14,652 | +€7,848 | +115% |
| Taxes | 450/3 | €6,804 | €12,652 | +€5,848 | +86.0% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €25,515 | €34,209 | +€8,694 | +34.1% |
| Goods, raw materials, services and sundry goods | 60/61 | €75,657 | - | -€75,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,293 | €24,999 | +€9,705 | +63.5% |
| Other operating charges | 640/8 | €4,908 | €4,306 | -€602 | -12.3% |
| Gross operating margin | 9900 | €101,392 | €113,927 | +€12,535 | +12.4% |
| Operating profit (loss) | 9901 | €81,190 | €84,622 | +€3,432 | +4.2% |
| Financial income | 75/76B | €579 | €18,541 | +€17,962 | +3,103% |
| Recurring financial income | 75 | €579 | €962 | +€383 | +66.2% |
| Non-recurring financial income | 76B | - | €17,579 | +€17,579 | |
| Financial charges | 65/66B | €1,269 | €907 | -€363 | -28.6% |
| Recurring financial charges | 65 | €1,269 | €907 | -€363 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €80,500 | €102,257 | +€21,757 | +27.0% |
| Income taxes | 67/77 | €22,464 | €31,939 | +€9,475 | +42.2% |
| Profit (loss) for the period | 9904 | €58,036 | €70,318 | +€12,282 | +21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,036 | €70,318 | +€12,282 | +21.2% |
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 27 October 2026 via checked.be.