TVG Projects: 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.
TVG Projects
Largest movements
- Financial fixed assets +€56,498
up €56,498 (+214.5%), from €26,336 to €82,833
- Receivables within one year -€12,800
down €12,800 (-52.9%), from €24,192 to €11,391
of which Other amounts receivable: -€13,284
- Tangible fixed assets -€7,461
down €7,461 (-20.2%), from €36,937 to €29,476
- Profit (loss) carried forward +€35,475
up €35,475 (+98.5%), from €36,022 to €71,497
- Tax, wage and social debts +€9,068
up €9,068 (+91.7%), from €9,887 to €18,955
- Debts after one year -€8,438
down €8,438 (-29.2%), from €28,867 to €20,430
- Depreciation +€7,093
up €7,093 (+1927.8%), from €368 to €7,461
- Gross operating margin +€3,263
up €3,263 (+7.0%), from €46,359 to €49,622
- Financial income +€1,911
up €1,911 (+214.5%), from €891 to €2,802
- Taxes -€820
down €820 (-8.3%), from €9,887 to €9,068
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €88,934 | €125,768 | +€36,834 | +41.4% |
| Fixed assets | 21/28 | €63,273 | €112,309 | +€49,037 | +77.5% |
| Tangible fixed assets | 22/27 | €36,937 | €29,476 | -€7,461 | -20.2% |
| Furniture and vehicles | 24 | €36,937 | €29,476 | -€7,461 | -20.2% |
| Financial fixed assets | 28 | €26,336 | €82,833 | +€56,498 | +214.5% |
| Current assets | 29/58 | €25,661 | €13,459 | -€12,203 | -47.6% |
| Amounts receivable within one year | 40/41 | €24,192 | €11,391 | -€12,800 | -52.9% |
| Trade receivables | 40 | €10,540 | €11,024 | +€484 | +4.6% |
| Other amounts receivable | 41 | €13,652 | €367 | -€13,284 | -97.3% |
| Cash at bank and in hand | 54/58 | €1,470 | €2,068 | +€598 | +40.7% |
| Total equity and liabilities | 10/49 | €88,934 | €125,768 | +€36,834 | +41.4% |
| Equity | 10/15 | €38,522 | €73,997 | +€35,475 | +92.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,022 | €71,497 | +€35,475 | +98.5% |
| Amounts payable | 17/49 | €50,412 | €51,772 | +€1,360 | +2.7% |
| Amounts payable after more than one year | 17 | €28,867 | €20,430 | -€8,438 | -29.2% |
| Financial debts | 170/4 | €28,867 | €20,430 | -€8,438 | -29.2% |
| Amounts payable within one year | 42/48 | €21,544 | €31,342 | +€9,797 | +45.5% |
| Current portion of amounts payable after more than one year | 42 | €8,438 | €8,438 | = | 0.0% |
| Trade debts | 44 | €3,220 | €3,949 | +€730 | +22.7% |
| Suppliers | 440/4 | €3,220 | €3,949 | +€730 | +22.7% |
| Taxes, remuneration and social security | 45 | €9,887 | €18,955 | +€9,068 | +91.7% |
| Taxes | 450/3 | €9,887 | €18,955 | +€9,068 | +91.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €368 | €7,461 | +€7,093 | +1927.8% |
| Other operating charges | 640/8 | €500 | €238 | -€262 | -52.4% |
| Gross operating margin | 9900 | €46,359 | €49,622 | +€3,263 | +7.0% |
| Operating profit (loss) | 9901 | €45,491 | €41,923 | -€3,568 | -7.8% |
| Financial income | 75/76B | €891 | €2,802 | +€1,911 | +214.5% |
| Recurring financial income | 75 | €891 | €2,802 | +€1,911 | +214.5% |
| Financial charges | 65/66B | €473 | €183 | -€290 | -61.4% |
| Recurring financial charges | 65 | €473 | €183 | -€290 | -61.4% |
| Profit (loss) for the period before taxes | 9903 | €45,909 | €44,542 | -€1,367 | -3.0% |
| Income taxes | 67/77 | €9,887 | €9,068 | -€820 | -8.3% |
| Profit (loss) for the period | 9904 | €36,022 | €35,475 | -€547 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €36,022 | €35,475 | -€547 | -1.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.