TPLH: what changed
Two fiscal 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.
TPLH
Largest movements
- Receivables within one year +€151,143
up €151,143 (+50.9%), from €296,836 to €447,979
of which Trade receivables: +€174,827
- Tangible fixed assets +€120,086
up €120,086 (+32.4%), from €370,507 to €490,593
of which Leasing and similar rights: +€87,434
- Trade debts +€147,460
up €147,460 (+53.0%), from €278,183 to €425,642
- Debts after one year +€81,298
up €81,298 (+39.7%), from €204,629 to €285,927
- Current portion of long-term debt +€40,552
up €40,552 (+53.8%), from €75,389 to €115,941
- Tax, wage and social debts +€22,846
up €22,846 (+75.5%), from €30,278 to €53,124
of which Remuneration and social security: +€27,310
- Staff costs -€58,281
down €58,281 (-19.7%), from €295,516 to €237,235
- Gross operating margin -€43,886
down €43,886 (-10.4%), from €424,016 to €380,130
- Financial charges +€9,921
up €9,921 (+62.4%), from €15,890 to €25,811
- Depreciation +€9,596
up €9,596 (+9.9%), from €96,477 to €106,074
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 | €722,878 | €1,006,765 | +€283,887 | +39.3% |
| Fixed assets | 21/28 | €376,442 | €496,528 | +€120,086 | +31.9% |
| Tangible fixed assets | 22/27 | €370,507 | €490,593 | +€120,086 | +32.4% |
| Plant, machinery and equipment | 23 | €116,207 | €166,294 | +€50,087 | +43.1% |
| Furniture and vehicles | 24 | €46,234 | €28,799 | -€17,435 | -37.7% |
| Leasing and similar rights | 25 | €208,066 | €295,500 | +€87,434 | +42.0% |
| Financial fixed assets | 28 | €5,935 | €5,935 | = | 0.0% |
| Current assets | 29/58 | €346,436 | €510,237 | +€163,800 | +47.3% |
| Stocks and contracts in progress | 3 | €9,773 | €8,892 | -€881 | -9.0% |
| Stocks | 30/36 | €9,773 | €8,892 | -€881 | -9.0% |
| Amounts receivable within one year | 40/41 | €296,836 | €447,979 | +€151,143 | +50.9% |
| Trade receivables | 40 | €269,832 | €444,659 | +€174,827 | +64.8% |
| Other amounts receivable | 41 | €27,004 | €3,320 | -€23,684 | -87.7% |
| Cash at bank and in hand | 54/58 | €33,156 | €42,766 | +€9,610 | +29.0% |
| Deferred charges and accrued income | 490/1 | €6,671 | €10,600 | +€3,929 | +58.9% |
| Total equity and liabilities | 10/49 | €722,878 | €1,006,765 | +€283,887 | +39.3% |
| Equity | 10/15 | €110,857 | €107,919 | -€2,938 | -2.6% |
| Contributions | 10/11 | €22,110 | €22,110 | = | 0.0% |
| Reserves | 13 | €35,643 | €35,643 | = | 0.0% |
| Tax-exempt reserves | 132 | €20,394 | €20,394 | = | 0.0% |
| Distributable reserves | 133 | €15,249 | €15,249 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,104 | €50,166 | -€2,938 | -5.5% |
| Amounts payable | 17/49 | €612,021 | €898,845 | +€286,824 | +46.9% |
| Amounts payable after more than one year | 17 | €204,629 | €285,927 | +€81,298 | +39.7% |
| Financial debts | 170/4 | €204,629 | €285,927 | +€81,298 | +39.7% |
| Amounts payable within one year | 42/48 | €407,392 | €612,919 | +€205,527 | +50.4% |
| Current portion of amounts payable after more than one year | 42 | €75,389 | €115,941 | +€40,552 | +53.8% |
| Trade debts | 44 | €278,183 | €425,642 | +€147,460 | +53.0% |
| Suppliers | 440/4 | €278,183 | €425,642 | +€147,460 | +53.0% |
| Advances received on contracts in progress | 46 | €2,157 | - | -€2,157 | |
| Taxes, remuneration and social security | 45 | €30,278 | €53,124 | +€22,846 | +75.5% |
| Taxes | 450/3 | €9,032 | €4,568 | -€4,464 | -49.4% |
| Remuneration and social security | 454/9 | €21,247 | €48,556 | +€27,310 | +128.5% |
| Other amounts payable | 47/48 | €21,384 | €18,210 | -€3,174 | -14.8% |
| Remuneration, social security and pensions | 62 | €295,516 | €237,235 | -€58,281 | -19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,477 | €106,074 | +€9,596 | +9.9% |
| Other operating charges | 640/8 | €16,084 | €13,948 | -€2,136 | -13.3% |
| Gross operating margin | 9900 | €424,016 | €380,130 | -€43,886 | -10.4% |
| Operating profit (loss) | 9901 | €15,938 | €22,873 | +€6,935 | +43.5% |
| Financial income | 75/76B | €20 | - | -€20 | |
| Recurring financial income | 75 | €20 | - | -€20 | |
| Financial charges | 65/66B | €15,890 | €25,811 | +€9,921 | +62.4% |
| Recurring financial charges | 65 | €15,890 | €25,811 | +€9,921 | +62.4% |
| Profit (loss) for the period before taxes | 9903 | €69 | -€2,938 | -€3,007 | |
| Profit (loss) for the period | 9904 | €69 | -€2,938 | -€3,007 | |
| Profit (loss) for the period to be appropriated | 9905 | €69 | -€2,938 | -€3,007 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.