TVCH: 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.
TVCH
Largest movements
- Receivables within one year +€100,023
up €100,023 (+220.4%), from €45,382 to €145,405
of which Trade receivables: +€104,277
- Intangible fixed assets +€16,300
new in 2025: €16,300
- Tangible fixed assets -€11,801
down €11,801 (-16.1%), from €73,470 to €61,669
of which Furniture and vehicles: -€15,019
- Deferred charges and accrued income +€5,276
up €5,276 (+7526.2%), from €70 to €5,346
- Cash +€3,796
up €3,796 (+5.9%), from €64,885 to €68,681
mainly Other debts (+€65,137) and Net result for the year (+€49,916)
- Other debts +€65,137
up €65,137 (+163.7%), from €39,797 to €104,934
- Reserves +€49,916
up €49,916 (+119.2%), from €41,862 to €91,778
- Debts after one year -€12,495
down €12,495 (-26.0%), from €47,996 to €35,501
- Trade debts +€11,363
up €11,363 (+50.6%), from €22,448 to €33,812
- Current portion of long-term debt -€7,546
down €7,546 (-35.7%), from €21,149 to €13,603
- Gross operating margin +€18,630
up €18,630 (+25.8%), from €72,205 to €90,835
- Depreciation +€7,452
up €7,452 (+94.4%), from €7,898 to €15,349
- Taxes +€4,585
up €4,585 (+24.7%), from €18,555 to €23,140
- Other operating charges -€2,167
down €2,167 (-97.4%), from €2,224 to €57
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 | €183,806 | €297,401 | +€113,595 | +61.8% |
| Fixed assets | 21/28 | €73,470 | €77,969 | +€4,499 | +6.1% |
| Intangible fixed assets | 21 | - | €16,300 | +€16,300 | |
| Tangible fixed assets | 22/27 | €73,470 | €61,669 | -€11,801 | -16.1% |
| Plant, machinery and equipment | 23 | - | €723 | +€723 | |
| Furniture and vehicles | 24 | €73,470 | €58,451 | -€15,019 | -20.4% |
| Other tangible fixed assets | 26 | - | €2,495 | +€2,495 | |
| Current assets | 29/58 | €110,336 | €219,432 | +€109,095 | +98.9% |
| Amounts receivable within one year | 40/41 | €45,382 | €145,405 | +€100,023 | +220.4% |
| Trade receivables | 40 | €41,128 | €145,405 | +€104,277 | +253.5% |
| Other amounts receivable | 41 | €4,254 | €0 | -€4,254 | -100.0% |
| Cash at bank and in hand | 54/58 | €64,885 | €68,681 | +€3,796 | +5.9% |
| Deferred charges and accrued income | 490/1 | €70 | €5,346 | +€5,276 | +7526.2% |
| Total equity and liabilities | 10/49 | €183,806 | €297,401 | +€113,595 | +61.8% |
| Equity | 10/15 | €43,862 | €93,778 | +€49,916 | +113.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €41,862 | €91,778 | +€49,916 | +119.2% |
| Distributable reserves | 133 | €41,862 | €91,778 | +€49,916 | +119.2% |
| Amounts payable | 17/49 | €139,944 | €203,622 | +€63,678 | +45.5% |
| Amounts payable after more than one year | 17 | €47,996 | €35,501 | -€12,495 | -26.0% |
| Financial debts | 170/4 | €47,996 | €35,501 | -€12,495 | -26.0% |
| Amounts payable within one year | 42/48 | €91,948 | €168,122 | +€76,173 | +82.8% |
| Current portion of amounts payable after more than one year | 42 | €21,149 | €13,603 | -€7,546 | -35.7% |
| Trade debts | 44 | €22,448 | €33,812 | +€11,363 | +50.6% |
| Suppliers | 440/4 | €22,448 | €33,812 | +€11,363 | +50.6% |
| Taxes, remuneration and social security | 45 | €8,555 | €15,773 | +€7,219 | +84.4% |
| Taxes | 450/3 | €8,555 | €15,773 | +€7,219 | +84.4% |
| Other amounts payable | 47/48 | €39,797 | €104,934 | +€65,137 | +163.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,898 | €15,349 | +€7,452 | +94.4% |
| Other operating charges | 640/8 | €2,224 | €57 | -€2,167 | -97.4% |
| Gross operating margin | 9900 | €72,205 | €90,835 | +€18,630 | +25.8% |
| Operating profit (loss) | 9901 | €62,083 | €75,429 | +€13,346 | +21.5% |
| Financial charges | 65/66B | €1,667 | €2,373 | +€706 | +42.4% |
| Recurring financial charges | 65 | €1,667 | €2,373 | +€706 | +42.4% |
| Profit (loss) for the period before taxes | 9903 | €60,417 | €73,056 | +€12,639 | +20.9% |
| Income taxes | 67/77 | €18,555 | €23,140 | +€4,585 | +24.7% |
| Profit (loss) for the period | 9904 | €41,862 | €49,916 | +€8,054 | +19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €41,862 | €49,916 | +€8,054 | +19.2% |
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 7 October 2026 via checked.be.