TNT: what changed
What changed
TNT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€20,970
2024 · €16,814+€4,156
Equity
€140,805
2024 · €119,835+€20,970
Cash
€33,579
2024 · €32,483+€1,096
Balance sheet total
€162,896
2024 · €147,412+€15,484
Largest movements
Assets
- Receivables within one year +€10,104
up €10,104 (+60.7%), from €16,642 to €26,746
of which Other amounts receivable: +€10,104
- Tangible fixed assets +€3,903
up €3,903 (+4.0%), from €97,688 to €101,591
of which Plant, machinery and equipment: +€7,428
Equity and liabilities
- Reserves +€20,970
up €20,970 (+112%), from €18,673 to €39,644
- Debts after one year -€6,899
down €6,899 (-66.0%), from €10,459 to €3,560
Income statement
- Gross operating margin +€8,772
up €8,772 (+29.0%), from €30,250 to €39,022
- Taxes +€3,400
up €3,400 (+48.3%), from €7,032 to €10,433
- Depreciation +€1,536
up €1,536 (+39.5%), from €3,891 to €5,426
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€16,814
Gross operating margin
+€8,772
Depreciation
-€1,536
Other operating charges
-€43
Financial income
-€0
Financial charges
+€364
Taxes
-€3,400
Result 2025
€20,970
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€17,039
Investment
-€9,329
Financing
-€6,614
Cash 2024
€32,483
From operations (derived)
+€17,039
Net result for the year
+€20,970
Depreciation
+€5,426
Receivables within one year
-€10,104
Deferred charges and accrued income
-€381
Trade debts
-€336
Tax, wage and social debts
+€1,464
Investment (derived)
-€9,329
Investment in fixed assets (net)
-€9,329
Financing
-€6,614
Debts after one year
-€6,899
Current portion of long-term debt
+€284
Cash 2025
€33,579
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €147,412 | €162,896 | +€15,484 | +10.5% |
| Fixed assets | 21/28 | €97,688 | €101,591 | +€3,903 | +4.0% |
| Tangible fixed assets | 22/27 | €97,688 | €101,591 | +€3,903 | +4.0% |
| Land and buildings | 22 | €96,220 | €92,695 | -€3,526 | -3.7% |
| Plant, machinery and equipment | 23 | €1,468 | €8,896 | +€7,428 | +506% |
| Current assets | 29/58 | €49,723 | €61,305 | +€11,581 | +23.3% |
| Amounts receivable within one year | 40/41 | €16,642 | €26,746 | +€10,104 | +60.7% |
| Trade receivables | 40 | €7,986 | €7,986 | = | 0.0% |
| Other amounts receivable | 41 | €8,656 | €18,760 | +€10,104 | +117% |
| Cash at bank and in hand | 54/58 | €32,483 | €33,579 | +€1,096 | +3.4% |
| Deferred charges and accrued income | 490/1 | €598 | €980 | +€381 | +63.7% |
| Total equity and liabilities | 10/49 | €147,412 | €162,896 | +€15,484 | +10.5% |
| Equity | 10/15 | €119,835 | €140,805 | +€20,970 | +17.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €18,673 | €39,644 | +€20,970 | +112% |
| Distributable reserves | 133 | €18,673 | €39,644 | +€20,970 | +112% |
| Profit (loss) carried forward | 14 | €82,570 | €82,570 | = | 0.0% |
| Amounts payable | 17/49 | €27,577 | €22,090 | -€5,486 | -19.9% |
| Amounts payable after more than one year | 17 | €10,459 | €3,560 | -€6,899 | -66.0% |
| Financial debts | 170/4 | €10,459 | €3,560 | -€6,899 | -66.0% |
| Amounts payable within one year | 42/48 | €17,118 | €18,530 | +€1,413 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €6,614 | €6,899 | +€284 | +4.3% |
| Trade debts | 44 | €462 | €126 | -€336 | -72.6% |
| Suppliers | 440/4 | €462 | €126 | -€336 | -72.6% |
| Taxes, remuneration and social security | 45 | €10,041 | €11,505 | +€1,464 | +14.6% |
| Taxes | 450/3 | €10,041 | €11,505 | +€1,464 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,891 | €5,426 | +€1,536 | +39.5% |
| Other operating charges | 640/8 | €1,414 | €1,457 | +€43 | +3.0% |
| Gross operating margin | 9900 | €30,250 | €39,022 | +€8,772 | +29.0% |
| Operating profit (loss) | 9901 | €24,945 | €32,138 | +€7,193 | +28.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,099 | €735 | -€364 | -33.1% |
| Recurring financial charges | 65 | €1,099 | €735 | -€364 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €23,846 | €31,403 | +€7,557 | +31.7% |
| Income taxes | 67/77 | €7,032 | €10,433 | +€3,400 | +48.3% |
| Profit (loss) for the period | 9904 | €16,814 | €20,970 | +€4,156 | +24.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,814 | €20,970 | +€4,156 | +24.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.