TTCO: 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.
TTCO
Largest movements
- Tangible fixed assets +€107,737
up €107,737 (+25.1%), from €429,736 to €537,473
of which Land and buildings: +€104,249
- Cash -€103,783
down €103,783 (-46.1%), from €225,258 to €121,475
mainly Investment in fixed assets (net) (-€129,206) and Contributions, distributions and other (-€110,833)
- Receivables within one year -€11,238
down €11,238 (-53.0%), from €21,193 to €9,955
of which Trade receivables: -€11,238
- Other debts +€67,326
up €67,326 (+2790.2%), from €2,413 to €69,739
- Debts after one year -€42,179
down €42,179 (-13.2%), from €320,695 to €278,516
- Trade debts -€14,678
down €14,678 (-55.3%), from €26,538 to €11,859
- Reserves -€13,632
down €13,632 (-2.1%), from €639,478 to €625,845
- Financial income -€125,000
down €125,000 (-100.0%), from €125,000 to €0
- Depreciation +€9,153
up €9,153 (+74.3%), from €12,317 to €21,470
- Gross operating margin +€3,597
up €3,597 (+2.3%), from €158,055 to €161,652
- Taxes -€1,660
down €1,660 (-4.8%), from €34,727 to €33,067
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 | €1,078,720 | €1,071,452 | -€7,267 | -0.7% |
| Fixed assets | 21/28 | €831,236 | €938,973 | +€107,737 | +13.0% |
| Tangible fixed assets | 22/27 | €429,736 | €537,473 | +€107,737 | +25.1% |
| Land and buildings | 22 | €408,183 | €512,433 | +€104,249 | +25.5% |
| Plant, machinery and equipment | 23 | €0 | €1,165 | +€1,165 | |
| Furniture and vehicles | 24 | €2,088 | €7,848 | +€5,760 | +275.9% |
| Other tangible fixed assets | 26 | €19,465 | €16,027 | -€3,438 | -17.7% |
| Financial fixed assets | 28 | €401,500 | €401,500 | = | 0.0% |
| Current assets | 29/58 | €247,484 | €132,480 | -€115,004 | -46.5% |
| Amounts receivable within one year | 40/41 | €21,193 | €9,955 | -€11,238 | -53.0% |
| Trade receivables | 40 | €21,193 | €9,955 | -€11,238 | -53.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €225,258 | €121,475 | -€103,783 | -46.1% |
| Deferred charges and accrued income | 490/1 | €1,033 | €1,050 | +€17 | +1.6% |
| Total equity and liabilities | 10/49 | €1,078,720 | €1,071,452 | -€7,267 | -0.7% |
| Equity | 10/15 | €663,078 | €649,445 | -€13,632 | -2.1% |
| Contributions | 10/11 | €23,600 | €23,600 | = | 0.0% |
| Reserves | 13 | €639,478 | €625,845 | -€13,632 | -2.1% |
| Distributable reserves | 133 | €639,478 | €625,845 | -€13,632 | -2.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €415,642 | €422,007 | +€6,365 | +1.5% |
| Amounts payable after more than one year | 17 | €320,695 | €278,516 | -€42,179 | -13.2% |
| Financial debts | 170/4 | €320,695 | €278,516 | -€42,179 | -13.2% |
| Amounts payable within one year | 42/48 | €94,946 | €143,491 | +€48,544 | +51.1% |
| Current portion of amounts payable after more than one year | 42 | €41,714 | €42,179 | +€466 | +1.1% |
| Trade debts | 44 | €26,538 | €11,859 | -€14,678 | -55.3% |
| Suppliers | 440/4 | €26,538 | €11,859 | -€14,678 | -55.3% |
| Taxes, remuneration and social security | 45 | €24,282 | €19,714 | -€4,569 | -18.8% |
| Taxes | 450/3 | €24,282 | €19,714 | -€4,569 | -18.8% |
| Other amounts payable | 47/48 | €2,413 | €69,739 | +€67,326 | +2790.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,317 | €21,470 | +€9,153 | +74.3% |
| Other operating charges | 640/8 | €536 | €721 | +€184 | +34.4% |
| Gross operating margin | 9900 | €158,055 | €161,652 | +€3,597 | +2.3% |
| Operating profit (loss) | 9901 | €145,202 | €139,462 | -€5,740 | -4.0% |
| Financial income | 75/76B | €125,000 | €0 | -€125,000 | -100.0% |
| Recurring financial income | 75 | €125,000 | €0 | -€125,000 | -100.0% |
| Financial charges | 65/66B | €9,760 | €9,194 | -€566 | -5.8% |
| Recurring financial charges | 65 | €9,760 | €9,194 | -€566 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €260,442 | €130,268 | -€130,174 | -50.0% |
| Income taxes | 67/77 | €34,727 | €33,067 | -€1,660 | -4.8% |
| Profit (loss) for the period | 9904 | €225,715 | €97,201 | -€128,515 | -56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €225,715 | €97,201 | -€128,515 | -56.9% |
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 30 September 2026 via checked.be.