TPH: 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.
TPH
Largest movements
- Receivables within one year -€52,859
down €52,859 (-15.4%), from €344,089 to €291,230
of which Trade receivables: -€50,562
- Tangible fixed assets -€19,277
down €19,277 (-10.4%), from €186,058 to €166,780
of which Furniture and vehicles: -€23,719
- Cash +€9,364
up €9,364 (+37.3%), from €25,121 to €34,485
mainly Depreciation (+€71,217) and Receivables within one year (+€52,859)
- Trade debts -€73,042
down €73,042 (-45.4%), from €160,712 to €87,670
- Debts after one year -€39,468
down €39,468 (-42.7%), from €92,444 to €52,977
- Reserves +€28,319
up €28,319 (+12.0%), from €236,330 to €264,649
- Current portion of long-term debt +€18,243
up €18,243 (+24.7%), from €73,950 to €92,193
- Staff costs +€32,757
up €32,757 (+16.8%), from €194,618 to €227,375
- Gross operating margin +€16,467
up €16,467 (+5.1%), from €325,826 to €342,294
- Depreciation +€5,465
up €5,465 (+8.3%), from €65,752 to €71,217
- Financial charges -€4,813
down €4,813 (-40.2%), from €11,971 to €7,157
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 | €597,588 | €537,986 | -€59,602 | -10.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €220,718 | €201,440 | -€19,277 | -8.7% |
| Tangible fixed assets | 22/27 | €186,058 | €166,780 | -€19,277 | -10.4% |
| Plant, machinery and equipment | 23 | €11,738 | €8,898 | -€2,840 | -24.2% |
| Furniture and vehicles | 24 | €102,193 | €78,474 | -€23,719 | -23.2% |
| Leasing and similar rights | 25 | €72,127 | €79,408 | +€7,281 | +10.1% |
| Financial fixed assets | 28 | €34,660 | €34,660 | = | 0.0% |
| Current assets | 29/58 | €376,870 | €336,546 | -€40,324 | -10.7% |
| Amounts receivable within one year | 40/41 | €344,089 | €291,230 | -€52,859 | -15.4% |
| Trade receivables | 40 | €140,712 | €90,150 | -€50,562 | -35.9% |
| Other amounts receivable | 41 | €203,377 | €201,081 | -€2,297 | -1.1% |
| Cash at bank and in hand | 54/58 | €25,121 | €34,485 | +€9,364 | +37.3% |
| Deferred charges and accrued income | 490/1 | €7,660 | €10,830 | +€3,170 | +41.4% |
| Total equity and liabilities | 10/49 | €597,588 | €537,986 | -€59,602 | -10.0% |
| Equity | 10/15 | €242,530 | €270,849 | +€28,319 | +11.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €236,330 | €264,649 | +€28,319 | +12.0% |
| Distributable reserves | 133 | €236,330 | €264,649 | +€28,319 | +12.0% |
| Amounts payable | 17/49 | €355,057 | €267,137 | -€87,920 | -24.8% |
| Amounts payable after more than one year | 17 | €92,444 | €52,977 | -€39,468 | -42.7% |
| Financial debts | 170/4 | €92,444 | €52,977 | -€39,468 | -42.7% |
| Amounts payable within one year | 42/48 | €260,952 | €212,086 | -€48,866 | -18.7% |
| Current portion of amounts payable after more than one year | 42 | €73,950 | €92,193 | +€18,243 | +24.7% |
| Trade debts | 44 | €160,712 | €87,670 | -€73,042 | -45.4% |
| Suppliers | 440/4 | €160,712 | €87,670 | -€73,042 | -45.4% |
| Taxes, remuneration and social security | 45 | €26,290 | €32,223 | +€5,933 | +22.6% |
| Taxes | 450/3 | €11,020 | €13,889 | +€2,869 | +26.0% |
| Remuneration and social security | 454/9 | €15,271 | €18,335 | +€3,064 | +20.1% |
| Accrued charges and deferred income | 492/3 | €1,662 | €2,075 | +€413 | +24.9% |
| Non-recurring operating income | 76A | €5,292 | - | -€5,292 | |
| Remuneration, social security and pensions | 62 | €194,618 | €227,375 | +€32,757 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,752 | €71,217 | +€5,465 | +8.3% |
| Other operating charges | 640/8 | €952 | €2,082 | +€1,129 | +119% |
| Non-recurring operating charges | 66A | €18,161 | - | -€18,161 | |
| Gross operating margin | 9900 | €325,826 | €342,294 | +€16,467 | +5.1% |
| Operating profit (loss) | 9901 | €46,344 | €41,621 | -€4,723 | -10.2% |
| Financial income | 75/76B | €4,650 | €6,704 | +€2,054 | +44.2% |
| Recurring financial income | 75 | €4,650 | €6,704 | +€2,054 | +44.2% |
| Financial charges | 65/66B | €11,971 | €7,157 | -€4,813 | -40.2% |
| Recurring financial charges | 65 | €11,971 | €7,157 | -€4,813 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €39,023 | €41,167 | +€2,144 | +5.5% |
| Income taxes | 67/77 | €12,208 | €12,849 | +€641 | +5.2% |
| Profit (loss) for the period | 9904 | €26,816 | €28,319 | +€1,503 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,816 | €28,319 | +€1,503 | +5.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.