TPN Advisory: 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.
TPN Advisory
Largest movements
- Current investments +€50,000
up €50,000 (+33.3%), from €150,000 to €200,000
- Cash -€25,215
down €25,215 (-14.8%), from €170,663 to €145,448
mainly Current investments (-€50,000) and Contributions, distributions and other (-€47,000)
- Other debts +€9,734
up €9,734 (+24.8%), from €39,304 to €49,038
- Reserves +€8,000
up €8,000 (+3.3%), from €242,360 to €250,360
- Gross operating margin +€4,215
up €4,215 (+5.5%), from €76,702 to €80,917
- Taxes +€1,378
up €1,378 (+6.6%), from €20,737 to €22,115
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 | €321,728 | €346,568 | +€24,840 | +7.7% |
| Current assets | 29/58 | €321,728 | €346,568 | +€24,840 | +7.7% |
| Current investments | 50/53 | €150,000 | €200,000 | +€50,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €170,663 | €145,448 | -€25,215 | -14.8% |
| Deferred charges and accrued income | 490/1 | €1,065 | €1,120 | +€55 | +5.2% |
| Total equity and liabilities | 10/49 | €321,728 | €346,568 | +€24,840 | +7.7% |
| Equity | 10/15 | €259,087 | €269,636 | +€10,549 | +4.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €242,360 | €250,360 | +€8,000 | +3.3% |
| Distributable reserves | 133 | €242,360 | €250,360 | +€8,000 | +3.3% |
| Profit (loss) carried forward | 14 | €4,327 | €6,876 | +€2,549 | +58.9% |
| Amounts payable | 17/49 | €62,641 | €76,932 | +€14,291 | +22.8% |
| Amounts payable within one year | 42/48 | €62,458 | €76,932 | +€14,474 | +23.2% |
| Trade debts | 44 | €4,970 | €7,048 | +€2,078 | +41.8% |
| Suppliers | 440/4 | €4,970 | €7,048 | +€2,078 | +41.8% |
| Taxes, remuneration and social security | 45 | €18,184 | €20,846 | +€2,662 | +14.6% |
| Taxes | 450/3 | €14,754 | €16,636 | +€1,882 | +12.8% |
| Remuneration and social security | 454/9 | €3,430 | €4,210 | +€780 | +22.7% |
| Other amounts payable | 47/48 | €39,304 | €49,038 | +€9,734 | +24.8% |
| Accrued charges and deferred income | 492/3 | €183 | - | -€183 | |
| Other operating charges | 640/8 | €399 | €890 | +€491 | +123% |
| Non-recurring operating charges | 66A | €1,295 | - | -€1,295 | |
| Gross operating margin | 9900 | €76,702 | €80,917 | +€4,215 | +5.5% |
| Operating profit (loss) | 9901 | €75,008 | €80,027 | +€5,019 | +6.7% |
| Financial charges | 65/66B | €216 | €363 | +€147 | +68.1% |
| Recurring financial charges | 65 | €216 | €363 | +€147 | +68.1% |
| Profit (loss) for the period before taxes | 9903 | €74,792 | €79,664 | +€4,872 | +6.5% |
| Income taxes | 67/77 | €20,737 | €22,115 | +€1,378 | +6.6% |
| Profit (loss) for the period | 9904 | €54,055 | €57,549 | +€3,494 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €54,055 | €57,549 | +€3,494 | +6.5% |
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 16 October 2026 via checked.be.