TVDM 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.
TVDM CONSULTING
Largest movements
- Cash -€52,153
down €52,153 (-39.0%), from €133,757 to €81,604
mainly Contributions, distributions and other (-€77,443) and Debts after one year (-€16,494)
- Tangible fixed assets -€16,346
down €16,346 (-31.0%), from €52,693 to €36,347
of which Furniture and vehicles: -€15,264
- Receivables within one year +€14,632
up €14,632 (+116.2%), from €12,594 to €27,226
of which Trade receivables: +€13,666
- Profit (loss) carried forward -€50,059
down €50,059 (-66.2%), from €75,588 to €25,529
- Debts after one year -€16,494
no longer reported in 2025 (was €16,494)
- Other debts +€15,826
new in 2025: €15,826
- Gross operating margin +€3,465
up €3,465 (+7.3%), from €47,657 to €51,122
- Taxes -€1,260
down €1,260 (-14.9%), from €8,465 to €7,205
- Depreciation -€871
down €871 (-5.1%), from €17,217 to €16,346
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 | €200,612 | €147,209 | -€53,403 | -26.6% |
| Fixed assets | 21/28 | €52,693 | €36,347 | -€16,346 | -31.0% |
| Tangible fixed assets | 22/27 | €52,693 | €36,347 | -€16,346 | -31.0% |
| Plant, machinery and equipment | 23 | €2,292 | €2,025 | -€267 | -11.6% |
| Furniture and vehicles | 24 | €43,056 | €27,792 | -€15,264 | -35.5% |
| Other tangible fixed assets | 26 | €7,345 | €6,530 | -€815 | -11.1% |
| Current assets | 29/58 | €147,919 | €110,862 | -€37,057 | -25.1% |
| Amounts receivable within one year | 40/41 | €12,594 | €27,226 | +€14,632 | +116.2% |
| Trade receivables | 40 | €12,200 | €25,866 | +€13,666 | +112.0% |
| Other amounts receivable | 41 | €394 | €1,360 | +€966 | +245.2% |
| Cash at bank and in hand | 54/58 | €133,757 | €81,604 | -€52,153 | -39.0% |
| Deferred charges and accrued income | 490/1 | €1,568 | €2,032 | +€464 | +29.6% |
| Total equity and liabilities | 10/49 | €200,612 | €147,209 | -€53,403 | -26.6% |
| Equity | 10/15 | €163,478 | €111,564 | -€51,914 | -31.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €69,340 | €67,485 | -€1,855 | -2.7% |
| Distributable reserves | 133 | €69,340 | €67,485 | -€1,855 | -2.7% |
| Profit (loss) carried forward | 14 | €75,588 | €25,529 | -€50,059 | -66.2% |
| Amounts payable | 17/49 | €37,134 | €35,645 | -€1,489 | -4.0% |
| Amounts payable after more than one year | 17 | €16,494 | - | -€16,494 | |
| Financial debts | 170/4 | €16,494 | - | -€16,494 | |
| Amounts payable within one year | 42/48 | €20,128 | €35,234 | +€15,106 | +75.0% |
| Current portion of amounts payable after more than one year | 42 | €16,129 | €15,147 | -€982 | -6.1% |
| Trade debts | 44 | €3,534 | €4,261 | +€727 | +20.6% |
| Suppliers | 440/4 | €3,534 | €4,261 | +€727 | +20.6% |
| Taxes, remuneration and social security | 45 | €465 | - | -€465 | |
| Taxes | 450/3 | €465 | - | -€465 | |
| Other amounts payable | 47/48 | - | €15,826 | +€15,826 | |
| Accrued charges and deferred income | 492/3 | €512 | €411 | -€101 | -19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,217 | €16,346 | -€871 | -5.1% |
| Other operating charges | 640/8 | €966 | €1,073 | +€107 | +11.1% |
| Gross operating margin | 9900 | €47,657 | €51,122 | +€3,465 | +7.3% |
| Operating profit (loss) | 9901 | €29,474 | €33,703 | +€4,229 | +14.3% |
| Financial charges | 65/66B | €1,430 | €969 | -€461 | -32.2% |
| Recurring financial charges | 65 | €1,430 | €969 | -€461 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | €28,044 | €32,734 | +€4,690 | +16.7% |
| Income taxes | 67/77 | €8,465 | €7,205 | -€1,260 | -14.9% |
| Profit (loss) for the period | 9904 | €19,579 | €25,529 | +€5,950 | +30.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,579 | €25,529 | +€5,950 | +30.4% |
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 6 October 2026 via checked.be.