TPV STOCK: 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.
TPV STOCK
Largest movements
- Tangible fixed assets +€285,332
up €285,332 (+175%), from €162,949 to €448,281
of which Leasing and similar rights: +€256,924
- Cash +€155,913
up €155,913 (+419%), from €37,200 to €193,113
mainly Debts after one year (+€261,287) and Depreciation (+€127,668)
- Receivables within one year -€50,809
down €50,809 (-12.3%), from €412,523 to €361,714
of which Trade receivables: -€30,908
- Debts after one year +€261,287
up €261,287 (+428%), from €61,105 to €322,392
of which Financial debts: +€264,571
- Profit (loss) carried forward +€127,447
up €127,447 (+55.0%), from €231,872 to €359,319
- Current portion of long-term debt +€65,297
up €65,297 (+2,450%), from €2,666 to €67,962
- Trade debts -€57,513
down €57,513 (-26.7%), from €215,118 to €157,605
- Investment grants -€22,731
down €22,731 (-52.2%), from €43,569 to €20,837
- Gross operating margin +€57,393
up €57,393 (+25.9%), from €221,174 to €278,567
- Depreciation +€33,336
up €33,336 (+35.3%), from €94,333 to €127,668
- Taxes -€7,548
down €7,548 (-26.6%), from €28,364 to €20,816
- Financial charges +€6,297
up €6,297 (+319%), from €1,974 to €8,270
- Staff costs -€5,723
down €5,723 (-28.1%), from €20,391 to €14,669
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 | €612,923 | €1,003,358 | +€390,435 | +63.7% |
| Fixed assets | 21/28 | €163,199 | €448,531 | +€285,332 | +175% |
| Tangible fixed assets | 22/27 | €162,949 | €448,281 | +€285,332 | +175% |
| Land and buildings | 22 | €8,220 | €720 | -€7,500 | -91.2% |
| Plant, machinery and equipment | 23 | €2,072 | €1,554 | -€518 | -25.0% |
| Furniture and vehicles | 24 | €7,428 | €43,854 | +€36,425 | +490% |
| Leasing and similar rights | 25 | €145,229 | €402,153 | +€256,924 | +177% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €449,724 | €554,827 | +€105,104 | +23.4% |
| Amounts receivable within one year | 40/41 | €412,523 | €361,714 | -€50,809 | -12.3% |
| Trade receivables | 40 | €243,906 | €212,997 | -€30,908 | -12.7% |
| Other amounts receivable | 41 | €168,618 | €148,717 | -€19,901 | -11.8% |
| Cash at bank and in hand | 54/58 | €37,200 | €193,113 | +€155,913 | +419% |
| Total equity and liabilities | 10/49 | €612,923 | €1,003,358 | +€390,435 | +63.7% |
| Equity | 10/15 | €294,040 | €398,756 | +€104,716 | +35.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €231,872 | €359,319 | +€127,447 | +55.0% |
| Investment grants | 15 | €43,569 | €20,837 | -€22,731 | -52.2% |
| Amounts payable | 17/49 | €318,882 | €604,602 | +€285,720 | +89.6% |
| Amounts payable after more than one year | 17 | €61,105 | €322,392 | +€261,287 | +428% |
| Financial debts | 170/4 | €0 | €264,571 | +€264,571 | |
| Other amounts payable | 178/9 | €61,105 | €57,821 | -€3,284 | -5.4% |
| Amounts payable within one year | 42/48 | €257,777 | €282,210 | +€24,433 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €2,666 | €67,962 | +€65,297 | +2,450% |
| Trade debts | 44 | €215,118 | €157,605 | -€57,513 | -26.7% |
| Suppliers | 440/4 | €215,118 | €157,605 | -€57,513 | -26.7% |
| Taxes, remuneration and social security | 45 | €39,993 | €56,643 | +€16,649 | +41.6% |
| Taxes | 450/3 | €33,778 | €55,352 | +€21,574 | +63.9% |
| Remuneration and social security | 454/9 | €6,215 | €1,290 | -€4,925 | -79.2% |
| Remuneration, social security and pensions | 62 | €20,391 | €14,669 | -€5,723 | -28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,333 | €127,668 | +€33,336 | +35.3% |
| Other operating charges | 640/8 | €387 | €2,562 | +€2,174 | +561% |
| Gross operating margin | 9900 | €221,174 | €278,567 | +€57,393 | +25.9% |
| Operating profit (loss) | 9901 | €106,063 | €133,668 | +€27,605 | +26.0% |
| Financial income | 75/76B | €24,381 | €22,866 | -€1,516 | -6.2% |
| Recurring financial income | 75 | €24,381 | €22,866 | -€1,516 | -6.2% |
| Financial charges | 65/66B | €1,974 | €8,270 | +€6,297 | +319% |
| Recurring financial charges | 65 | €1,974 | €8,270 | +€6,297 | +319% |
| Profit (loss) for the period before taxes | 9903 | €128,471 | €148,264 | +€19,793 | +15.4% |
| Income taxes | 67/77 | €28,364 | €20,816 | -€7,548 | -26.6% |
| Profit (loss) for the period | 9904 | €100,106 | €127,447 | +€27,341 | +27.3% |
| Profit (loss) for the period to be appropriated | 9905 | €100,106 | €127,447 | +€27,341 | +27.3% |
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 15 October 2026 via checked.be.