TT: 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.
TT
Largest movements
- Receivables within one year -€121,093
down €121,093 (-38.6%), from €314,056 to €192,964
of which Trade receivables: -€224,220
- Cash +€99,856
up €99,856 (+1425.1%), from €7,007 to €106,863
mainly Receivables within one year (+€121,093) and Net result for the year (+€117,170)
- Tangible fixed assets +€32,562
up €32,562 (+243.1%), from €13,396 to €45,958
of which Furniture and vehicles: +€33,206
- Financial fixed assets +€7,719
up €7,719 (+31.8%), from €24,305 to €32,025
- Reserves +€117,170
up €117,170 (+59.9%), from €195,607 to €312,777
- Trade debts -€101,329
down €101,329 (-86.0%), from €117,770 to €16,442
- Debts after one year +€14,833
up €14,833 (+231.9%), from €6,397 to €21,230
- Tax, wage and social debts -€14,140
down €14,140 (-53.8%), from €26,287 to €12,147
of which Remuneration and social security: -€7,739
- Staff costs -€19,302
no longer reported in 2025 (was €19,302)
- Financial income +€11,547
up €11,547 (+167.7%), from €6,884 to €18,431
- Gross operating margin -€8,103
down €8,103 (-4.5%), from €178,927 to €170,824
- Taxes +€5,016
up €5,016 (+10.1%), from €49,881 to €54,897
- Depreciation +€4,055
up €4,055 (+227.5%), from €1,783 to €5,838
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 | €466,716 | €490,263 | +€23,547 | +5.0% |
| Fixed assets | 21/28 | €37,702 | €77,983 | +€40,281 | +106.8% |
| Tangible fixed assets | 22/27 | €13,396 | €45,958 | +€32,562 | +243.1% |
| Plant, machinery and equipment | 23 | €3,961 | €3,610 | -€351 | -8.9% |
| Furniture and vehicles | 24 | €9,142 | €42,348 | +€33,206 | +363.2% |
| Other tangible fixed assets | 26 | €293 | - | -€293 | |
| Financial fixed assets | 28 | €24,305 | €32,025 | +€7,719 | +31.8% |
| Current assets | 29/58 | €429,014 | €412,280 | -€16,734 | -3.9% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €314,056 | €192,964 | -€121,093 | -38.6% |
| Trade receivables | 40 | €292,713 | €68,494 | -€224,220 | -76.6% |
| Other amounts receivable | 41 | €21,343 | €124,470 | +€103,127 | +483.2% |
| Cash at bank and in hand | 54/58 | €7,007 | €106,863 | +€99,856 | +1425.1% |
| Deferred charges and accrued income | 490/1 | €7,951 | €12,454 | +€4,503 | +56.6% |
| Total equity and liabilities | 10/49 | €466,716 | €490,263 | +€23,547 | +5.0% |
| Equity | 10/15 | €202,607 | €319,777 | +€117,170 | +57.8% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €195,607 | €312,777 | +€117,170 | +59.9% |
| Distributable reserves | 133 | €195,607 | €312,777 | +€117,170 | +59.9% |
| Amounts payable | 17/49 | €264,109 | €170,486 | -€93,623 | -35.4% |
| Amounts payable after more than one year | 17 | €6,397 | €21,230 | +€14,833 | +231.9% |
| Financial debts | 170/4 | €6,397 | €21,230 | +€14,833 | +231.9% |
| Amounts payable within one year | 42/48 | €257,712 | €149,256 | -€108,456 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €1,531 | €5,526 | +€3,996 | +261.0% |
| Financial debts | 43 | €111,885 | €115,141 | +€3,256 | +2.9% |
| Credit institutions | 430/8 | €111,885 | €115,141 | +€3,256 | +2.9% |
| Trade debts | 44 | €117,770 | €16,442 | -€101,329 | -86.0% |
| Suppliers | 440/4 | €117,770 | €16,442 | -€101,329 | -86.0% |
| Taxes, remuneration and social security | 45 | €26,287 | €12,147 | -€14,140 | -53.8% |
| Taxes | 450/3 | €18,548 | €12,147 | -€6,401 | -34.5% |
| Remuneration and social security | 454/9 | €7,739 | - | -€7,739 | |
| Other amounts payable | 47/48 | €239 | - | -€239 | |
| Non-recurring operating income | 76A | - | €7,000 | +€7,000 | |
| Remuneration, social security and pensions | 62 | €19,302 | - | -€19,302 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,783 | €5,838 | +€4,055 | +227.5% |
| Other operating charges | 640/8 | €3,525 | €1,665 | -€1,861 | -52.8% |
| Gross operating margin | 9900 | €178,927 | €170,824 | -€8,103 | -4.5% |
| Operating profit (loss) | 9901 | €154,317 | €163,321 | +€9,004 | +5.8% |
| Financial income | 75/76B | €6,884 | €18,431 | +€11,547 | +167.7% |
| Recurring financial income | 75 | €6,884 | €18,431 | +€11,547 | +167.7% |
| Financial charges | 65/66B | €11,080 | €9,686 | -€1,394 | -12.6% |
| Recurring financial charges | 65 | €11,080 | €9,686 | -€1,394 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €150,121 | €172,067 | +€21,946 | +14.6% |
| Income taxes | 67/77 | €49,881 | €54,897 | +€5,016 | +10.1% |
| Profit (loss) for the period | 9904 | €100,240 | €117,170 | +€16,930 | +16.9% |
| Profit (loss) for the period to be appropriated | 9905 | €100,240 | €117,170 | +€16,930 | +16.9% |
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 12 October 2026 via checked.be.