TPN Construct: 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.
TPN Construct
Largest movements
- Stocks and contracts +€18,545
up €18,545 (+26.7%), from €69,353 to €87,898
- Cash +€10,276
up €10,276 (+495.3%), from €2,075 to €12,351
mainly Debts after one year (+€32,800) and Trade debts (+€911)
- Debts after one year +€32,800
up €32,800 (+43.6%), from €75,200 to €108,000
- Other debts -€3,600
down €3,600 (-52.7%), from €6,837 to €3,237
- Profit (loss) carried forward -€2,113
down €2,113 (-20.4%), from -€10,352 to -€12,465
- Depreciation -€718
no longer reported in 2025 (was €718)
- Gross operating margin -€542
down €542 (-48.9%), from -€1,107 to -€1,649
- Other operating charges -€49
down €49 (-10.9%), from €449 to €400
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 | €72,686 | €100,684 | +€27,998 | +38.5% |
| Fixed assets | 21/28 | - | €0 | = | |
| Intangible fixed assets | 21 | - | €0 | = | |
| Current assets | 29/58 | €72,686 | €100,684 | +€27,998 | +38.5% |
| Stocks and contracts in progress | 3 | €69,353 | €87,898 | +€18,545 | +26.7% |
| Stocks | 30/36 | €69,353 | €87,898 | +€18,545 | +26.7% |
| Amounts receivable within one year | 40/41 | €1,258 | €435 | -€823 | -65.4% |
| Other amounts receivable | 41 | €1,258 | €435 | -€823 | -65.4% |
| Cash at bank and in hand | 54/58 | €2,075 | €12,351 | +€10,276 | +495.3% |
| Total equity and liabilities | 10/49 | €72,686 | €100,684 | +€27,998 | +38.5% |
| Equity | 10/15 | -€9,352 | -€11,465 | -€2,113 | -22.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | €1,000 | = | 0.0% |
| Issued capital | 100 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,352 | -€12,465 | -€2,113 | -20.4% |
| Amounts payable | 17/49 | €82,037 | €112,149 | +€30,111 | +36.7% |
| Amounts payable after more than one year | 17 | €75,200 | €108,000 | +€32,800 | +43.6% |
| Other amounts payable | 178/9 | €75,200 | €108,000 | +€32,800 | +43.6% |
| Amounts payable within one year | 42/48 | €6,837 | €4,149 | -€2,689 | -39.3% |
| Trade debts | 44 | - | €911 | +€911 | |
| Suppliers | 440/4 | - | €911 | +€911 | |
| Other amounts payable | 47/48 | €6,837 | €3,237 | -€3,600 | -52.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €718 | - | -€718 | |
| Other operating charges | 640/8 | €449 | €400 | -€49 | -10.9% |
| Gross operating margin | 9900 | -€1,107 | -€1,649 | -€542 | -48.9% |
| Operating profit (loss) | 9901 | -€2,274 | -€2,049 | +€225 | +9.9% |
| Financial charges | 65/66B | €72 | €65 | -€8 | -10.4% |
| Recurring financial charges | 65 | €72 | €65 | -€8 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,346 | -€2,113 | +€232 | +9.9% |
| Profit (loss) for the period | 9904 | -€2,346 | -€2,113 | +€232 | +9.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,346 | -€2,113 | +€232 | +9.9% |
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 28 September 2026 via checked.be.