TVDA: 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.
TVDA
Largest movements
- Receivables after one year -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Current investments -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Receivables within one year -€9,473
down €9,473 (-23.3%), from €40,672 to €31,199
of which Other amounts receivable: -€6,164
- Cash +€4,657
up €4,657 (+93.1%), from €5,004 to €9,661
mainly Net result for the year (+€49,759) and Receivables after one year (+€25,000)
- Reserves -€47,738
down €47,738 (-100.0%), from €47,738 to €0
- Other debts +€17,040
new in 2025: €17,040
- Debts after one year -€12,500
down €12,500 (-100.0%), from €12,500 to €0
- Tax, wage and social debts -€6,581
down €6,581 (-27.8%), from €23,640 to €17,059
of which Taxes: -€3,477
- Gross operating margin +€3,882
up €3,882 (+6.0%), from €65,031 to €68,913
- Financial charges +€3,745
up €3,745 (+422.2%), from €887 to €4,632
- Financial income +€3,444
up €3,444 (+1179.4%), from €292 to €3,736
- Other operating charges +€2,147
up €2,147 (+158.2%), from €1,357 to €3,504
- Depreciation -€863
down €863 (-50.3%), from €1,716 to €853
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 | €95,247 | €45,312 | -€49,935 | -52.4% |
| Fixed assets | 21/28 | €4,150 | €3,297 | -€853 | -20.6% |
| Tangible fixed assets | 22/27 | €4,150 | €3,297 | -€853 | -20.6% |
| Plant, machinery and equipment | 23 | €631 | €250 | -€381 | -60.3% |
| Furniture and vehicles | 24 | €1,119 | €647 | -€472 | -42.2% |
| Other tangible fixed assets | 26 | €2,400 | €2,400 | = | 0.0% |
| Current assets | 29/58 | €91,097 | €42,015 | -€49,082 | -53.9% |
| Amounts receivable after more than one year | 29 | €25,000 | €0 | -€25,000 | -100.0% |
| Other amounts receivable | 291 | €25,000 | €0 | -€25,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €40,672 | €31,199 | -€9,473 | -23.3% |
| Trade receivables | 40 | €33,826 | €30,517 | -€3,309 | -9.8% |
| Other amounts receivable | 41 | €6,846 | €682 | -€6,164 | -90.0% |
| Current investments | 50/53 | €20,000 | €0 | -€20,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €5,004 | €9,661 | +€4,657 | +93.1% |
| Deferred charges and accrued income | 490/1 | €421 | €1,155 | +€734 | +174.4% |
| Total equity and liabilities | 10/49 | €95,247 | €45,312 | -€49,935 | -52.4% |
| Equity | 10/15 | €50,238 | €2,500 | -€47,738 | -95.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €47,738 | €0 | -€47,738 | -100.0% |
| Distributable reserves | 133 | €47,738 | €0 | -€47,738 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €45,009 | €42,812 | -€2,197 | -4.9% |
| Amounts payable after more than one year | 17 | €12,500 | €0 | -€12,500 | -100.0% |
| Financial debts | 170/4 | €12,500 | €0 | -€12,500 | -100.0% |
| Amounts payable within one year | 42/48 | €32,509 | €42,812 | +€10,303 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €8,333 | €8,333 | +€0 | 0.0% |
| Trade debts | 44 | €536 | €379 | -€157 | -29.3% |
| Suppliers | 440/4 | €536 | €379 | -€157 | -29.3% |
| Taxes, remuneration and social security | 45 | €23,640 | €17,059 | -€6,581 | -27.8% |
| Taxes | 450/3 | €20,536 | €17,059 | -€3,477 | -16.9% |
| Remuneration and social security | 454/9 | €3,104 | €0 | -€3,104 | -100.0% |
| Other amounts payable | 47/48 | - | €17,040 | +€17,040 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,716 | €853 | -€863 | -50.3% |
| Other operating charges | 640/8 | €1,357 | €3,504 | +€2,147 | +158.2% |
| Gross operating margin | 9900 | €65,031 | €68,913 | +€3,882 | +6.0% |
| Operating profit (loss) | 9901 | €61,958 | €64,556 | +€2,598 | +4.2% |
| Financial income | 75/76B | €292 | €3,736 | +€3,444 | +1179.4% |
| Recurring financial income | 75 | €292 | €3,736 | +€3,444 | +1179.4% |
| Financial charges | 65/66B | €887 | €4,632 | +€3,745 | +422.2% |
| Recurring financial charges | 65 | €887 | €4,632 | +€3,745 | +422.2% |
| Profit (loss) for the period before taxes | 9903 | €61,363 | €63,660 | +€2,297 | +3.7% |
| Income taxes | 67/77 | €13,625 | €13,901 | +€276 | +2.0% |
| Profit (loss) for the period | 9904 | €47,738 | €49,759 | +€2,021 | +4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,738 | €49,759 | +€2,021 | +4.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.