TULDERHEYDE: 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.
TULDERHEYDE
Largest movements
- Tangible fixed assets +€2.5m
up €2.5m (+107%), from €2.4m to €4.9m
of which Land and buildings: +€2.1m
- Receivables within one year +€648,518
up €648,518 (+52.8%), from €1.2m to €1.9m
of which Trade receivables: +€849,658
- Debts after one year +€2.4m
up €2.4m (+286%), from €830,101 to €3.2m
- Advances received +€1.1m
new in 2025: €1.1m
- Other debts -€552,132
down €552,132 (-61.8%), from €893,116 to €340,984
- Reserves -€231,439
down €231,439 (-20.4%), from €1.1m to €902,753
of which Distributable reserves: -€231,439
- Current portion of long-term debt +€205,379
up €205,379 (+198%), from €103,544 to €308,923
- Turnover +€389,586
up €389,586 (+68.8%), from €566,470 to €956,056
- Staff costs +€346,001
new in 2025: €346,001
- Purchases and services +€288,443
up €288,443 (+135%), from €213,533 to €501,976
- Gross operating margin +€144,016
up €144,016 (+40.8%), from €352,937 to €496,952
- Depreciation +€123,659
up €123,659 (+74.7%), from €165,622 to €289,281
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 | €3,623,597 | €6,770,606 | +€3.1m | +86.8% |
| Fixed assets | 21/28 | €2,356,096 | €4,874,586 | +€2.5m | +107% |
| Tangible fixed assets | 22/27 | €2,356,096 | €4,874,586 | +€2.5m | +107% |
| Land and buildings | 22 | €1,617,427 | €3,692,013 | +€2.1m | +128% |
| Plant, machinery and equipment | 23 | €736,250 | €1,162,156 | +€425,906 | +57.8% |
| Other tangible fixed assets | 26 | €2,419 | €20,418 | +€17,999 | +744% |
| Current assets | 29/58 | €1,267,502 | €1,896,020 | +€628,518 | +49.6% |
| Amounts receivable within one year | 40/41 | €1,227,302 | €1,875,819 | +€648,518 | +52.8% |
| Trade receivables | 40 | €323,319 | €1,172,977 | +€849,658 | +263% |
| Other amounts receivable | 41 | €903,982 | €702,842 | -€201,140 | -22.3% |
| Cash at bank and in hand | 54/58 | €40,200 | €19,056 | -€21,144 | -52.6% |
| Deferred charges and accrued income | 490/1 | - | €1,145 | +€1,145 | |
| Total equity and liabilities | 10/49 | €3,623,597 | €6,770,606 | +€3.1m | +86.8% |
| Equity | 10/15 | €1,736,573 | €1,505,134 | -€231,439 | -13.3% |
| Contributions | 10/11 | €602,381 | €602,381 | = | 0.0% |
| Capital | 10 | €602,381 | €602,381 | = | 0.0% |
| Issued capital | 100 | €602,381 | €602,381 | = | 0.0% |
| Reserves | 13 | €1,134,192 | €902,753 | -€231,439 | -20.4% |
| Non-distributable reserves | 130/1 | €60,238 | €60,238 | = | 0.0% |
| Legal reserve | 130 | €60,238 | €60,238 | = | 0.0% |
| Distributable reserves | 133 | €1,073,953 | €842,515 | -€231,439 | -21.6% |
| Amounts payable | 17/49 | €1,887,025 | €5,265,472 | +€3.4m | +179% |
| Amounts payable after more than one year | 17 | €830,101 | €3,200,280 | +€2.4m | +286% |
| Financial debts | 170/4 | €830,101 | €3,200,280 | +€2.4m | +286% |
| Amounts payable within one year | 42/48 | €1,038,388 | €2,065,191 | +€1.0m | +98.9% |
| Current portion of amounts payable after more than one year | 42 | €103,544 | €308,923 | +€205,379 | +198% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €41,728 | €148,659 | +€106,931 | +256% |
| Suppliers | 440/4 | €41,728 | €148,659 | +€106,931 | +256% |
| Advances received on contracts in progress | 46 | - | €1,109,342 | +€1.1m | |
| Taxes, remuneration and social security | 45 | - | €32,283 | +€32,283 | |
| Taxes | 450/3 | - | €192 | +€192 | |
| Remuneration and social security | 454/9 | - | €32,091 | +€32,091 | |
| Other amounts payable | 47/48 | €893,116 | €340,984 | -€552,132 | -61.8% |
| Accrued charges and deferred income | 492/3 | €18,535 | - | -€18,535 | |
| Turnover | 70 | €566,470 | €956,056 | +€389,586 | +68.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €213,533 | €501,976 | +€288,443 | +135% |
| Remuneration, social security and pensions | 62 | - | €346,001 | +€346,001 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,622 | €289,281 | +€123,659 | +74.7% |
| Other operating charges | 640/8 | €21,838 | €23,004 | +€1,166 | +5.3% |
| Gross operating margin | 9900 | €352,937 | €496,952 | +€144,016 | +40.8% |
| Operating profit (loss) | 9901 | €165,476 | -€161,334 | -€326,810 | |
| Financial income | 75/76B | €20,652 | - | -€20,652 | |
| Recurring financial income | 75 | €20,652 | - | -€20,652 | |
| Financial charges | 65/66B | €43,750 | €69,913 | +€26,163 | +59.8% |
| Recurring financial charges | 65 | €43,750 | €69,913 | +€26,163 | +59.8% |
| Profit (loss) for the period before taxes | 9903 | €142,378 | -€231,247 | -€373,625 | |
| Income taxes | 67/77 | €22,195 | €192 | -€22,003 | -99.1% |
| Profit (loss) for the period | 9904 | €120,184 | -€231,439 | -€351,622 | |
| Profit (loss) for the period to be appropriated | 9905 | €120,184 | -€231,439 | -€351,622 |
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 23 October 2026 via checked.be.