TUMBLEWEED: 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.
TUMBLEWEED
Largest movements
- Stocks and contracts +€2.2m
up €2.2m (+55.1%), from €4.1m to €6.3m
- Current investments +€500,000
new in 2025: €500,000
- Cash +€208,932
up €208,932 (+17.6%), from €1.2m to €1.4m
mainly Advances received (+€3.0m) and Tax, wage and social debts (+€140,807)
- Receivables within one year +€179,423
up €179,423 (+614%), from €29,235 to €208,657
of which Trade receivables: +€186,693
- Advances received +€3.0m
up €3.0m (+75.5%), from €4.0m to €7.0m
- Tax, wage and social debts +€140,807
up €140,807, from €0 to €140,807
- Other operating charges +€18,170
up €18,170 (+2,470%), from €736 to €18,906
- Financial charges -€11,717
down €11,717 (-22.3%), from €52,427 to €40,710
- Gross operating margin +€6,568
up €6,568 (+20.1%), from €32,627 to €39,195
- Financial income +€2,705
up €2,705 (+24.4%), from €11,107 to €13,812
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 | €5,273,004 | €8,396,133 | +€3.1m | +59.2% |
| Current assets | 29/58 | €5,273,004 | €8,396,133 | +€3.1m | +59.2% |
| Stocks and contracts in progress | 3 | €4,054,890 | €6,289,663 | +€2.2m | +55.1% |
| Stocks | 30/36 | €4,054,890 | €6,289,663 | +€2.2m | +55.1% |
| Amounts receivable within one year | 40/41 | €29,235 | €208,657 | +€179,423 | +614% |
| Trade receivables | 40 | €21,964 | €208,657 | +€186,693 | +850% |
| Other amounts receivable | 41 | €7,270 | €0 | -€7,270 | -100% |
| Current investments | 50/53 | - | €500,000 | +€500,000 | |
| Cash at bank and in hand | 54/58 | €1,188,880 | €1,397,813 | +€208,932 | +17.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €5,273,004 | €8,396,133 | +€3.1m | +59.2% |
| Equity | 10/15 | -€12,312 | -€18,920 | -€6,608 | -53.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €1,098 | €1,098 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,098 | €1,098 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€32,411 | -€39,019 | -€6,608 | -20.4% |
| Amounts payable | 17/49 | €5,285,317 | €8,415,053 | +€3.1m | +59.2% |
| Amounts payable within one year | 42/48 | €5,285,317 | €8,415,053 | +€3.1m | +59.2% |
| Trade debts | 44 | €447,239 | €397,435 | -€49,804 | -11.1% |
| Suppliers | 440/4 | €447,239 | €397,435 | -€49,804 | -11.1% |
| Advances received on contracts in progress | 46 | €4,003,409 | €7,026,143 | +€3.0m | +75.5% |
| Taxes, remuneration and social security | 45 | €0 | €140,807 | +€140,807 | |
| Taxes | 450/3 | €0 | €140,807 | +€140,807 | |
| Other amounts payable | 47/48 | €834,669 | €850,669 | +€16,000 | +1.9% |
| Other operating charges | 640/8 | €736 | €18,906 | +€18,170 | +2,470% |
| Gross operating margin | 9900 | €32,627 | €39,195 | +€6,568 | +20.1% |
| Operating profit (loss) | 9901 | €31,891 | €20,289 | -€11,602 | -36.4% |
| Financial income | 75/76B | €11,107 | €13,812 | +€2,705 | +24.4% |
| Recurring financial income | 75 | €11,107 | €13,812 | +€2,705 | +24.4% |
| Financial charges | 65/66B | €52,427 | €40,710 | -€11,717 | -22.3% |
| Recurring financial charges | 65 | €52,427 | €40,710 | -€11,717 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,429 | -€6,608 | +€2,821 | +29.9% |
| Profit (loss) for the period | 9904 | -€9,429 | -€6,608 | +€2,821 | +29.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,429 | -€6,608 | +€2,821 | +29.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.