TVD-CONSULTING: 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.
TVD-CONSULTING
Largest movements
- Tangible fixed assets +€264,528
up €264,528 (+2,603%), from €10,163 to €274,691
of which Land and buildings: +€253,690
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Cash +€45,270
up €45,270 (+57.0%), from €79,363 to €124,633
mainly Debts after one year (+€198,733) and Current investments (+€100,000)
- Receivables within one year -€35,551
down €35,551 (-57.0%), from €62,333 to €26,782
of which Trade receivables: -€43,477
- Deferred charges and accrued income -€6,530
down €6,530 (-37.5%), from €17,423 to €10,893
- Debts after one year +€198,733
new in 2025: €198,733
- Reserves -€59,050
down €59,050 (-37.4%), from €158,050 to €99,000
- Other debts +€20,848
up €20,848 (+23.4%), from €88,950 to €109,797
- Current portion of long-term debt +€7,582
new in 2025: €7,582
- Gross operating margin -€41,951
down €41,951 (-38.8%), from €108,087 to €66,136
- Taxes -€11,116
down €11,116 (-46.8%), from €23,778 to €12,661
- Financial charges +€4,038
up €4,038 (+1,953%), from €207 to €4,245
- Depreciation +€3,516
up €3,516 (+96.3%), from €3,651 to €7,167
- Financial income +€1,829
up €1,829 (+735%), from €249 to €2,078
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 | €269,283 | €437,000 | +€167,717 | +62.3% |
| Fixed assets | 21/28 | €10,163 | €274,691 | +€264,528 | +2,603% |
| Tangible fixed assets | 22/27 | €10,163 | €274,691 | +€264,528 | +2,603% |
| Land and buildings | 22 | - | €253,690 | +€253,690 | |
| Furniture and vehicles | 24 | €6,208 | €9,648 | +€3,440 | +55.4% |
| Other tangible fixed assets | 26 | €3,955 | €11,352 | +€7,398 | +187% |
| Current assets | 29/58 | €259,120 | €162,309 | -€96,811 | -37.4% |
| Amounts receivable within one year | 40/41 | €62,333 | €26,782 | -€35,551 | -57.0% |
| Trade receivables | 40 | €62,333 | €18,856 | -€43,477 | -69.7% |
| Other amounts receivable | 41 | €0 | €7,926 | +€7,926 | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €79,363 | €124,633 | +€45,270 | +57.0% |
| Deferred charges and accrued income | 490/1 | €17,423 | €10,893 | -€6,530 | -37.5% |
| Total equity and liabilities | 10/49 | €269,283 | €437,000 | +€167,717 | +62.3% |
| Equity | 10/15 | €159,363 | €100,000 | -€59,363 | -37.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €158,050 | €99,000 | -€59,050 | -37.4% |
| Distributable reserves | 133 | €158,050 | €99,000 | -€59,050 | -37.4% |
| Profit (loss) carried forward | 14 | €313 | €0 | -€313 | -100% |
| Amounts payable | 17/49 | €109,920 | €337,000 | +€227,080 | +207% |
| Amounts payable after more than one year | 17 | - | €198,733 | +€198,733 | |
| Financial debts | 170/4 | - | €198,733 | +€198,733 | |
| Amounts payable within one year | 42/48 | €109,730 | €138,267 | +€28,537 | +26.0% |
| Current portion of amounts payable after more than one year | 42 | - | €7,582 | +€7,582 | |
| Trade debts | 44 | €2,767 | €2,623 | -€144 | -5.2% |
| Suppliers | 440/4 | €2,767 | €2,623 | -€144 | -5.2% |
| Taxes, remuneration and social security | 45 | €18,014 | €18,265 | +€251 | +1.4% |
| Taxes | 450/3 | €13,486 | €15,946 | +€2,459 | +18.2% |
| Remuneration and social security | 454/9 | €4,528 | €2,319 | -€2,208 | -48.8% |
| Other amounts payable | 47/48 | €88,950 | €109,797 | +€20,848 | +23.4% |
| Accrued charges and deferred income | 492/3 | €190 | €0 | -€190 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,651 | €7,167 | +€3,516 | +96.3% |
| Other operating charges | 640/8 | €678 | €877 | +€199 | +29.4% |
| Non-recurring operating charges | 66A | - | €698 | +€698 | |
| Gross operating margin | 9900 | €108,087 | €66,136 | -€41,951 | -38.8% |
| Operating profit (loss) | 9901 | €103,758 | €57,394 | -€46,365 | -44.7% |
| Financial income | 75/76B | €249 | €2,078 | +€1,829 | +735% |
| Recurring financial income | 75 | €249 | €2,078 | +€1,829 | +735% |
| Financial charges | 65/66B | €207 | €4,245 | +€4,038 | +1,953% |
| Recurring financial charges | 65 | €207 | €4,245 | +€4,038 | +1,953% |
| Profit (loss) for the period before taxes | 9903 | €103,801 | €55,227 | -€48,574 | -46.8% |
| Income taxes | 67/77 | €23,778 | €12,661 | -€11,116 | -46.8% |
| Profit (loss) for the period | 9904 | €80,023 | €42,566 | -€37,457 | -46.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,023 | €42,566 | -€37,457 | -46.8% |
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 14 October 2026 via checked.be.