TVDS: 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.
TVDS
Largest movements
- Receivables within one year +€95,693
up €95,693 (+3827.7%), from €2,500 to €98,193
of which Other amounts receivable: +€76,897
- Cash -€52,226
down €52,226 (-94.5%), from €55,245 to €3,018
mainly Receivables within one year (-€95,693) and Contributions, distributions and other (-€61,000)
- Receivables after one year +€13,757
up €13,757 (+36.2%), from €38,010 to €51,767
- Tangible fixed assets -€7,855
down €7,855 (-13.0%), from €60,215 to €52,360
of which Furniture and vehicles: -€10,227
- Other debts +€61,000
new in 2025: €61,000
- Profit (loss) carried forward -€16,514
down €16,514 (-19.2%), from €86,046 to €69,532
- Accrued charges and deferred income -€5,351
down €5,351 (-100.0%), from €5,351 to €0
- Trade debts +€4,372
up €4,372 (+483.0%), from €905 to €5,277
- Tax, wage and social debts +€3,851
up €3,851 (+73.5%), from €5,240 to €9,091
of which Taxes: +€5,859
- Gross operating margin +€27,196
up €27,196 (+49.3%), from €55,157 to €82,353
- Financial charges +€6,362
up €6,362 (+364.0%), from €1,748 to €8,110
- Financial income -€3,964
down €3,964 (-70.4%), from €5,634 to €1,670
of which Non-recurring financial income: -€4,981
- Depreciation +€3,614
up €3,614 (+28.9%), from €12,505 to €16,120
- Taxes +€1,666
up €1,666 (+13.2%), from €12,604 to €14,270
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 | €156,299 | €206,838 | +€50,539 | +32.3% |
| Fixed assets | 21/28 | €60,215 | €52,360 | -€7,855 | -13.0% |
| Tangible fixed assets | 22/27 | €60,215 | €52,360 | -€7,855 | -13.0% |
| Land and buildings | 22 | €26,481 | €28,853 | +€2,372 | +9.0% |
| Furniture and vehicles | 24 | €33,734 | €23,508 | -€10,227 | -30.3% |
| Current assets | 29/58 | €96,084 | €154,478 | +€58,393 | +60.8% |
| Amounts receivable after more than one year | 29 | €38,010 | €51,767 | +€13,757 | +36.2% |
| Other amounts receivable | 291 | €38,010 | €51,767 | +€13,757 | +36.2% |
| Amounts receivable within one year | 40/41 | €2,500 | €98,193 | +€95,693 | +3827.7% |
| Trade receivables | 40 | €2,500 | €21,296 | +€18,796 | +751.8% |
| Other amounts receivable | 41 | - | €76,897 | +€76,897 | |
| Cash at bank and in hand | 54/58 | €55,245 | €3,018 | -€52,226 | -94.5% |
| Deferred charges and accrued income | 490/1 | €330 | €1,500 | +€1,170 | +354.5% |
| Total equity and liabilities | 10/49 | €156,299 | €206,838 | +€50,539 | +32.3% |
| Equity | 10/15 | €138,829 | €122,315 | -€16,514 | -11.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €42,783 | €42,783 | = | 0.0% |
| Distributable reserves | 133 | €42,783 | €42,783 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,046 | €69,532 | -€16,514 | -19.2% |
| Amounts payable | 17/49 | €17,470 | €84,523 | +€67,052 | +383.8% |
| Amounts payable within one year | 42/48 | €12,119 | €84,523 | +€72,404 | +597.4% |
| Financial debts | 43 | €5,974 | €9,155 | +€3,181 | +53.3% |
| Credit institutions | 430/8 | €5,974 | €9,155 | +€3,181 | +53.3% |
| Trade debts | 44 | €905 | €5,277 | +€4,372 | +483.0% |
| Suppliers | 440/4 | €905 | €5,277 | +€4,372 | +483.0% |
| Taxes, remuneration and social security | 45 | €5,240 | €9,091 | +€3,851 | +73.5% |
| Taxes | 450/3 | €2,604 | €8,463 | +€5,859 | +225.0% |
| Remuneration and social security | 454/9 | €2,636 | €628 | -€2,008 | -76.2% |
| Other amounts payable | 47/48 | - | €61,000 | +€61,000 | |
| Accrued charges and deferred income | 492/3 | €5,351 | €0 | -€5,351 | -100.0% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,505 | €16,120 | +€3,614 | +28.9% |
| Other operating charges | 640/8 | €1,050 | €1,037 | -€13 | -1.3% |
| Gross operating margin | 9900 | €55,157 | €82,353 | +€27,196 | +49.3% |
| Operating profit (loss) | 9901 | €41,601 | €65,196 | +€23,595 | +56.7% |
| Financial income | 75/76B | €5,634 | €1,670 | -€3,964 | -70.4% |
| Recurring financial income | 75 | €653 | €1,670 | +€1,016 | +155.6% |
| Non-recurring financial income | 76B | €4,981 | - | -€4,981 | |
| Financial charges | 65/66B | €1,748 | €8,110 | +€6,362 | +364.0% |
| Recurring financial charges | 65 | €1,748 | €8,110 | +€6,362 | +364.0% |
| Profit (loss) for the period before taxes | 9903 | €45,488 | €58,756 | +€13,269 | +29.2% |
| Income taxes | 67/77 | €12,604 | €14,270 | +€1,666 | +13.2% |
| Profit (loss) for the period | 9904 | €32,883 | €44,486 | +€11,603 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,883 | €44,486 | +€11,603 | +35.3% |
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 2 October 2026 via checked.be.