TVC Projects: 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.
TVC Projects
Largest movements
- Receivables within one year -€17,694
down €17,694 (-39.6%), from €44,672 to €26,978
of which Trade receivables: -€20,108
- Tangible fixed assets -€13,027
down €13,027 (-24.4%), from €53,437 to €40,410
of which Furniture and vehicles: -€7,986
- Trade debts -€18,201
down €18,201 (-39.4%), from €46,164 to €27,963
- Other debts -€7,007
down €7,007 (-56.2%), from €12,469 to €5,462
- Debts after one year -€3,200
down €3,200 (-13.3%), from €24,005 to €20,805
- Current portion of long-term debt -€1,841
down €1,841 (-35.0%), from €5,254 to €3,413
- Profit (loss) carried forward +€1,416
up €1,416 (+17.7%), from €7,984 to €9,399
- Gross operating margin -€1,842
down €1,842 (-9.8%), from €18,727 to €16,885
- Financial income +€1,374
up €1,374 (+437.0%), from €314 to €1,688
- Taxes -€347
down €347 (-24.1%), from €1,437 to €1,090
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 | €102,732 | €73,101 | -€29,631 | -28.8% |
| Fixed assets | 21/28 | €53,437 | €40,410 | -€13,027 | -24.4% |
| Tangible fixed assets | 22/27 | €53,437 | €40,410 | -€13,027 | -24.4% |
| Land and buildings | 22 | €41,579 | €37,467 | -€4,112 | -9.9% |
| Plant, machinery and equipment | 23 | €1,033 | €104 | -€929 | -90.0% |
| Furniture and vehicles | 24 | €10,825 | €2,839 | -€7,986 | -73.8% |
| Current assets | 29/58 | €49,295 | €32,692 | -€16,604 | -33.7% |
| Amounts receivable within one year | 40/41 | €44,672 | €26,978 | -€17,694 | -39.6% |
| Trade receivables | 40 | €42,178 | €22,070 | -€20,108 | -47.7% |
| Other amounts receivable | 41 | €2,493 | €4,908 | +€2,415 | +96.9% |
| Cash at bank and in hand | 54/58 | €940 | €1,926 | +€986 | +104.9% |
| Deferred charges and accrued income | 490/1 | €3,683 | €3,787 | +€104 | +2.8% |
| Total equity and liabilities | 10/49 | €102,732 | €73,101 | -€29,631 | -28.8% |
| Equity | 10/15 | €8,984 | €10,399 | +€1,416 | +15.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,984 | €9,399 | +€1,416 | +17.7% |
| Amounts payable | 17/49 | €93,748 | €62,702 | -€31,047 | -33.1% |
| Amounts payable after more than one year | 17 | €24,005 | €20,805 | -€3,200 | -13.3% |
| Financial debts | 170/4 | €24,005 | €20,805 | -€3,200 | -13.3% |
| Amounts payable within one year | 42/48 | €69,744 | €41,897 | -€27,847 | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €5,254 | €3,413 | -€1,841 | -35.0% |
| Trade debts | 44 | €46,164 | €27,963 | -€18,201 | -39.4% |
| Suppliers | 440/4 | €46,164 | €27,963 | -€18,201 | -39.4% |
| Taxes, remuneration and social security | 45 | €5,857 | €5,059 | -€798 | -13.6% |
| Taxes | 450/3 | €5,857 | €5,059 | -€798 | -13.6% |
| Other amounts payable | 47/48 | €12,469 | €5,462 | -€7,007 | -56.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,969 | €13,027 | +€58 | +0.4% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | €18,727 | €16,885 | -€1,842 | -9.8% |
| Operating profit (loss) | 9901 | €5,230 | €3,314 | -€1,917 | -36.6% |
| Financial income | 75/76B | €314 | €1,688 | +€1,374 | +437.0% |
| Recurring financial income | 75 | €314 | €1,688 | +€1,374 | +437.0% |
| Financial charges | 65/66B | €2,431 | €2,496 | +€66 | +2.7% |
| Recurring financial charges | 65 | €2,431 | €2,496 | +€66 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €3,114 | €2,506 | -€608 | -19.5% |
| Income taxes | 67/77 | €1,437 | €1,090 | -€347 | -24.1% |
| Profit (loss) for the period | 9904 | €1,677 | €1,416 | -€262 | -15.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,677 | €1,416 | -€262 | -15.6% |
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 5 October 2026 via checked.be.