TTR ENERGY: 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.
What changed
TTR ENERGY
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.9m
2024 · €9.0m-€7.1m
Equity
€58.6m
2024 · €56.7m+€1.9m
Cash
€206,460
2024 · €214,476-€8,016
Balance sheet total
€66.6m
2024 · €69.3m-€2.7m
Largest movements
Assets
- Financial fixed assets -€4.3m
down €4.3m (-7.7%), from €55.4m to €51.1m
- Receivables within one year +€1.7m
up €1.7m (+20.0%), from €8.7m to €10.5m
of which Other amounts receivable: +€947,568
Equity and liabilities
- Debts after one year -€2.4m
down €2.4m (-42.1%), from €5.8m to €3.3m
- Profit (loss) carried forward +€1.9m
up €1.9m (+3.4%), from €54.8m to €56.6m
- Other debts -€999,984
down €999,984 (-100.0%), from €1.0m to €16
- Current portion of long-term debt -€900,000
down €900,000 (-28.4%), from €3.2m to €2.3m
Income statement
- Financial income -€8.6m
down €8.6m (-89.5%), from €9.6m to €1.0m
of which Non-recurring financial income: -€7.6m
- Gross operating margin +€1.2m
up €1.2m (+108%), from €1.1m to €2.4m
- Financial charges -€604,111
down €604,111 (-59.5%), from €1.0m to €410,993
of which Financial charges: -€496,789
- Taxes +€519,355
up €519,355 (+637%), from €81,497 to €600,853
- Write-downs -€107,772
down €107,772 (-100%), from €107,772 to €0
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.
Result 2024
€9.0m
Gross operating margin
+€1.2m
Staff costs
-€65,771
Depreciation
+€1,109
Write-downs
+€107,772
Other operating charges
+€4,349
Other operating items
+€113,861
Financial income
-€8.6m
Financial charges
+€604,111
Taxes
-€519,355
Result 2025
€1.9m
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€1.2m
Investment
+€4.5m
Financing
-€3.3m
Cash 2024
€214,476
From operations (derived)
-€1.2m
Net result for the year
+€1.9m
Depreciation
+€35,984
Receivables within one year
-€1.7m
Deferred charges and accrued income
-€104,784
Trade debts
-€528,150
Tax, wage and social debts
+€327,064
Other debts
-€999,984
Accrued charges and deferred income
-€220
Investment (derived)
+€4.5m
Investment in fixed assets (net)
+€4.2m
Current investments
+€255,574
Financing
-€3.3m
Debts after one year
-€2.4m
Current portion of long-term debt
-€900,000
Cash 2025
€206,460
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,310,488 | €66,634,296 | -€2.7m | -3.9% |
| Fixed assets | 21/28 | €55,515,217 | €51,253,075 | -€4.3m | -7.7% |
| Intangible fixed assets | 21 | €80,985 | €97,816 | +€16,830 | +20.8% |
| Tangible fixed assets | 22/27 | €25,975 | €32,873 | +€6,899 | +26.6% |
| Furniture and vehicles | 24 | €8,357 | €16,126 | +€7,769 | +93.0% |
| Other tangible fixed assets | 26 | €17,618 | €16,747 | -€871 | -4.9% |
| Financial fixed assets | 28 | €55,408,257 | €51,122,387 | -€4.3m | -7.7% |
| Current assets | 29/58 | €13,795,271 | €15,381,221 | +€1.6m | +11.5% |
| Amounts receivable within one year | 40/41 | €8,732,131 | €10,476,886 | +€1.7m | +20.0% |
| Trade receivables | 40 | €2,178,167 | €2,975,355 | +€797,188 | +36.6% |
| Other amounts receivable | 41 | €6,553,963 | €7,501,531 | +€947,568 | +14.5% |
| Current investments | 50/53 | €4,429,163 | €4,173,589 | -€255,574 | -5.8% |
| Cash at bank and in hand | 54/58 | €214,476 | €206,460 | -€8,016 | -3.7% |
| Deferred charges and accrued income | 490/1 | €419,502 | €524,286 | +€104,784 | +25.0% |
| Total equity and liabilities | 10/49 | €69,310,488 | €66,634,296 | -€2.7m | -3.9% |
| Equity | 10/15 | €56,739,042 | €58,589,118 | +€1.9m | +3.3% |
| Contributions | 10/11 | €1,700,000 | €1,700,000 | = | 0.0% |
| Capital | 10 | €1,700,000 | €1,700,000 | = | 0.0% |
| Issued capital | 100 | €1,700,000 | €1,700,000 | = | 0.0% |
| Reserves | 13 | €276,800 | €276,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €170,000 | €170,000 | = | 0.0% |
| Legal reserve | 130 | €170,000 | €170,000 | = | 0.0% |
| Distributable reserves | 133 | €106,800 | €106,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,762,242 | €56,612,318 | +€1.9m | +3.4% |
| Amounts payable | 17/49 | €12,571,445 | €8,045,178 | -€4.5m | -36.0% |
| Amounts payable after more than one year | 17 | €5,758,577 | €3,333,600 | -€2.4m | -42.1% |
| Financial debts | 170/4 | €5,758,577 | €3,333,600 | -€2.4m | -42.1% |
| Amounts payable within one year | 42/48 | €6,810,771 | €4,709,701 | -€2.1m | -30.8% |
| Current portion of amounts payable after more than one year | 42 | €3,166,600 | €2,266,600 | -€900,000 | -28.4% |
| Trade debts | 44 | €2,597,178 | €2,069,028 | -€528,150 | -20.3% |
| Suppliers | 440/4 | €2,597,178 | €2,069,028 | -€528,150 | -20.3% |
| Taxes, remuneration and social security | 45 | €46,993 | €374,057 | +€327,064 | +696% |
| Taxes | 450/3 | €36,997 | €361,790 | +€324,792 | +878% |
| Remuneration and social security | 454/9 | €9,995 | €12,267 | +€2,272 | +22.7% |
| Other amounts payable | 47/48 | €1,000,000 | €16 | -€999,984 | -100.0% |
| Accrued charges and deferred income | 492/3 | €2,098 | €1,877 | -€220 | -10.5% |
| Remuneration, social security and pensions | 62 | €290,012 | €355,783 | +€65,771 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,093 | €35,984 | -€1,109 | -3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €107,772 | €0 | -€107,772 | -100% |
| Other operating charges | 640/8 | €11,445 | €7,096 | -€4,349 | -38.0% |
| Non-recurring operating charges | 66A | €246,336 | €132,474 | -€113,861 | -46.2% |
| Gross operating margin | 9900 | €1,142,009 | €2,377,321 | +€1.2m | +108% |
| Operating profit (loss) | 9901 | €449,351 | €1,845,984 | +€1.4m | +311% |
| Financial income | 75/76B | €9,642,641 | €1,015,937 | -€8.6m | -89.5% |
| Recurring financial income | 75 | €2,030,241 | €1,015,937 | -€1.0m | -50.0% |
| Non-recurring financial income | 76B | €7,612,400 | €0 | -€7.6m | -100% |
| Financial charges | 65/66B | €1,015,104 | €410,993 | -€604,111 | -59.5% |
| Recurring financial charges | 65 | €907,781 | €410,993 | -€496,789 | -54.7% |
| Non-recurring financial charges | 66B | €107,323 | €0 | -€107,323 | -100% |
| Profit (loss) for the period before taxes | 9903 | €9,076,888 | €2,450,928 | -€6.6m | -73.0% |
| Income taxes | 67/77 | €81,497 | €600,853 | +€519,355 | +637% |
| Profit (loss) for the period | 9904 | €8,995,391 | €1,850,076 | -€7.1m | -79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,995,391 | €1,850,076 | -€7.1m | -79.4% |
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 31 October 2026 via checked.be.