TVC Cargo: 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.
TVC Cargo
Largest movements
- Receivables within one year +€8,733
up €8,733 (+20.0%), from €43,758 to €52,491
of which Other amounts receivable: +€4,761
- Deferred charges and accrued income +€8,512
up €8,512 (+438.6%), from €1,941 to €10,452
- Cash +€3,575
up €3,575 (+179.3%), from €1,993 to €5,568
mainly Net result for the year (+€21,460) and Tax, wage and social debts (+€6,399)
- Reserves +€21,460
up €21,460 (+155.1%), from €13,840 to €35,300
- Trade debts -€7,440
down €7,440 (-24.4%), from €30,519 to €23,079
- Tax, wage and social debts +€6,399
up €6,399 (+56.5%), from €11,329 to €17,729
- Gross operating margin +€13,804
up €13,804 (+57.0%), from €24,228 to €38,032
- Taxes +€3,227
up €3,227 (+82.8%), from €3,898 to €7,125
- Financial charges -€2,956
down €2,956 (-39.7%), from €7,439 to €4,483
- Other operating charges -€612
down €612 (-13.8%), from €4,448 to €3,836
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 | €60,688 | €81,108 | +€20,420 | +33.6% |
| Fixed assets | 21/28 | €12,997 | €12,597 | -€400 | -3.1% |
| Tangible fixed assets | 22/27 | €3,997 | €3,597 | -€400 | -10.0% |
| Plant, machinery and equipment | 23 | €1,315 | €1,654 | +€339 | +25.8% |
| Furniture and vehicles | 24 | €2,681 | €1,943 | -€739 | -27.6% |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €47,692 | €68,512 | +€20,820 | +43.7% |
| Amounts receivable within one year | 40/41 | €43,758 | €52,491 | +€8,733 | +20.0% |
| Trade receivables | 40 | €35,765 | €39,738 | +€3,973 | +11.1% |
| Other amounts receivable | 41 | €7,993 | €12,753 | +€4,761 | +59.6% |
| Cash at bank and in hand | 54/58 | €1,993 | €5,568 | +€3,575 | +179.3% |
| Deferred charges and accrued income | 490/1 | €1,941 | €10,452 | +€8,512 | +438.6% |
| Total equity and liabilities | 10/49 | €60,688 | €81,108 | +€20,420 | +33.6% |
| Equity | 10/15 | €18,840 | €40,300 | +€21,460 | +113.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,840 | €35,300 | +€21,460 | +155.1% |
| Distributable reserves | 133 | €13,840 | €35,300 | +€21,460 | +155.1% |
| Amounts payable | 17/49 | €41,849 | €40,808 | -€1,041 | -2.5% |
| Amounts payable within one year | 42/48 | €41,849 | €40,808 | -€1,041 | -2.5% |
| Trade debts | 44 | €30,519 | €23,079 | -€7,440 | -24.4% |
| Suppliers | 440/4 | €30,519 | €23,079 | -€7,440 | -24.4% |
| Taxes, remuneration and social security | 45 | €11,329 | €17,729 | +€6,399 | +56.5% |
| Taxes | 450/3 | €11,329 | €17,729 | +€6,399 | +56.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,371 | €1,590 | +€219 | +16.0% |
| Other operating charges | 640/8 | €4,448 | €3,836 | -€612 | -13.8% |
| Gross operating margin | 9900 | €24,228 | €38,032 | +€13,804 | +57.0% |
| Operating profit (loss) | 9901 | €18,409 | €32,606 | +€14,197 | +77.1% |
| Financial income | 75/76B | €223 | €462 | +€239 | +107.1% |
| Recurring financial income | 75 | €223 | €462 | +€239 | +107.1% |
| Financial charges | 65/66B | €7,439 | €4,483 | -€2,956 | -39.7% |
| Recurring financial charges | 65 | €7,439 | €4,483 | -€2,956 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | €11,193 | €28,585 | +€17,392 | +155.4% |
| Income taxes | 67/77 | €3,898 | €7,125 | +€3,227 | +82.8% |
| Profit (loss) for the period | 9904 | €7,295 | €21,460 | +€14,165 | +194.2% |
| Profit (loss) for the period to be appropriated | 9905 | €7,295 | €21,460 | +€14,165 | +194.2% |
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 10 October 2026 via checked.be.