TVDB Consulting: 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.
TVDB Consulting
Largest movements
- Receivables within one year +€17,304
up €17,304 (+43.1%), from €40,138 to €57,442
of which Other amounts receivable: +€19,206
- Current investments +€3,000
new in 2025: €3,000
- Reserves +€29,502
up €29,502 (+61.8%), from €47,742 to €77,244
- Debts after one year -€12,272
down €12,272 (-18.5%), from €66,192 to €53,920
- Trade debts +€5,403
up €5,403 (+228.6%), from €2,364 to €7,767
- Current portion of long-term debt -€2,751
down €2,751 (-12.7%), from €21,717 to €18,966
- Gross operating margin -€25,759
down €25,759 (-35.2%), from €73,185 to €47,426
- Taxes -€3,980
down €3,980 (-30.0%), from €13,259 to €9,279
- Financial charges -€1,897
down €1,897 (-19.8%), from €9,570 to €7,673
- Other operating charges -€1,491
down €1,491 (-61.7%), from €2,416 to €925
- Financial income +€911
up €911 (+131.1%), from €695 to €1,606
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 | €148,241 | €167,859 | +€19,618 | +13.2% |
| Fixed assets | 21/28 | €95,653 | €94,000 | -€1,653 | -1.7% |
| Tangible fixed assets | 22/27 | €5,653 | €4,000 | -€1,653 | -29.2% |
| Land and buildings | 22 | €2,327 | €1,467 | -€860 | -37.0% |
| Plant, machinery and equipment | 23 | €3,326 | €2,533 | -€793 | -23.8% |
| Financial fixed assets | 28 | €90,000 | €90,000 | = | 0.0% |
| Current assets | 29/58 | €52,588 | €73,859 | +€21,271 | +40.4% |
| Amounts receivable within one year | 40/41 | €40,138 | €57,442 | +€17,304 | +43.1% |
| Trade receivables | 40 | €17,238 | €15,337 | -€1,902 | -11.0% |
| Other amounts receivable | 41 | €22,899 | €42,105 | +€19,206 | +83.9% |
| Current investments | 50/53 | - | €3,000 | +€3,000 | |
| Cash at bank and in hand | 54/58 | €12,450 | €13,417 | +€967 | +7.8% |
| Total equity and liabilities | 10/49 | €148,241 | €167,859 | +€19,618 | +13.2% |
| Equity | 10/15 | €52,742 | €82,244 | +€29,502 | +55.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €47,742 | €77,244 | +€29,502 | +61.8% |
| Distributable reserves | 133 | €47,742 | €77,244 | +€29,502 | +61.8% |
| Amounts payable | 17/49 | €95,499 | €85,615 | -€9,884 | -10.3% |
| Amounts payable after more than one year | 17 | €66,192 | €53,920 | -€12,272 | -18.5% |
| Financial debts | 170/4 | €66,192 | €53,920 | -€12,272 | -18.5% |
| Amounts payable within one year | 42/48 | €29,307 | €31,695 | +€2,388 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €21,717 | €18,966 | -€2,751 | -12.7% |
| Trade debts | 44 | €2,364 | €7,767 | +€5,403 | +228.6% |
| Suppliers | 440/4 | €2,364 | €7,767 | +€5,403 | +228.6% |
| Taxes, remuneration and social security | 45 | €5,226 | €4,962 | -€264 | -5.1% |
| Taxes | 450/3 | €5,226 | €4,962 | -€264 | -5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €893 | €1,653 | +€760 | +85.1% |
| Other operating charges | 640/8 | €2,416 | €925 | -€1,491 | -61.7% |
| Gross operating margin | 9900 | €73,185 | €47,426 | -€25,759 | -35.2% |
| Operating profit (loss) | 9901 | €69,876 | €44,848 | -€25,028 | -35.8% |
| Financial income | 75/76B | €695 | €1,606 | +€911 | +131.1% |
| Recurring financial income | 75 | €695 | €1,606 | +€911 | +131.1% |
| Financial charges | 65/66B | €9,570 | €7,673 | -€1,897 | -19.8% |
| Recurring financial charges | 65 | €9,570 | €7,673 | -€1,897 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €61,001 | €38,781 | -€22,220 | -36.4% |
| Income taxes | 67/77 | €13,259 | €9,279 | -€3,980 | -30.0% |
| Profit (loss) for the period | 9904 | €47,742 | €29,502 | -€18,240 | -38.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,742 | €29,502 | -€18,240 | -38.2% |
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 5 October 2026 via checked.be.