TVH CONSULT: what changed
Two financial 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.
TVH CONSULT
Largest movements
- Receivables within one year +€143,643
up €143,643 (+118%), from €122,004 to €265,647
of which Other amounts receivable: +€86,151
- Cash -€114,644
down €114,644 (-62.9%), from €182,373 to €67,729
mainly Receivables within one year (-€143,643) and Other debts (-€138,000)
- Intangible fixed assets -€20,902
no longer reported in 2025 (was €20,902)
- Tangible fixed assets +€6,275
up €6,275 (+11.7%), from €53,464 to €59,739
of which Furniture and vehicles: +€12,884
- Other debts -€138,000
no longer reported in 2025 (was €138,000)
- Reserves +€88,204
up €88,204 (+608%), from €14,516 to €102,719
- Trade debts +€81,949
up €81,949 (+183%), from €44,812 to €126,762
- Debts after one year -€49,981
down €49,981 (-66.5%), from €75,190 to €25,208
- Tax, wage and social debts +€32,607
up €32,607 (+57.8%), from €56,421 to €89,027
of which Taxes: +€29,578
- Gross operating margin -€96,742
down €96,742 (-21.6%), from €447,455 to €350,713
- Depreciation -€60,415
down €60,415 (-59.9%), from €100,897 to €40,482
- Taxes +€32,131
up €32,131 (+640%), from €5,021 to €37,153
- Staff costs -€16,561
down €16,561 (-8.3%), from €198,534 to €181,973
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.
Derived cash bridge
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 | €379,345 | €394,698 | +€15,353 | +4.0% |
| Fixed assets | 21/28 | €74,590 | €59,964 | -€14,626 | -19.6% |
| Intangible fixed assets | 21 | €20,902 | - | -€20,902 | |
| Tangible fixed assets | 22/27 | €53,464 | €59,739 | +€6,275 | +11.7% |
| Land and buildings | 22 | €6,023 | €2,895 | -€3,128 | -51.9% |
| Plant, machinery and equipment | 23 | €5,508 | €4,813 | -€695 | -12.6% |
| Furniture and vehicles | 24 | €33,800 | €46,684 | +€12,884 | +38.1% |
| Other tangible fixed assets | 26 | €8,133 | €5,346 | -€2,786 | -34.3% |
| Financial fixed assets | 28 | €225 | €225 | = | 0.0% |
| Current assets | 29/58 | €304,755 | €334,734 | +€29,979 | +9.8% |
| Amounts receivable within one year | 40/41 | €122,004 | €265,647 | +€143,643 | +118% |
| Trade receivables | 40 | €98,184 | €155,677 | +€57,493 | +58.6% |
| Other amounts receivable | 41 | €23,820 | €109,971 | +€86,151 | +362% |
| Cash at bank and in hand | 54/58 | €182,373 | €67,729 | -€114,644 | -62.9% |
| Deferred charges and accrued income | 490/1 | €378 | €1,357 | +€979 | +259% |
| Total equity and liabilities | 10/49 | €379,345 | €394,698 | +€15,353 | +4.0% |
| Equity | 10/15 | €15,516 | €103,719 | +€88,204 | +568% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €14,516 | €102,719 | +€88,204 | +608% |
| Distributable reserves | 133 | €14,516 | €102,719 | +€88,204 | +608% |
| Amounts payable | 17/49 | €363,830 | €290,979 | -€72,851 | -20.0% |
| Amounts payable after more than one year | 17 | €75,190 | €25,208 | -€49,981 | -66.5% |
| Financial debts | 170/4 | €75,190 | €25,208 | -€49,981 | -66.5% |
| Amounts payable within one year | 42/48 | €288,640 | €265,770 | -€22,870 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €49,407 | €49,981 | +€574 | +1.2% |
| Trade debts | 44 | €44,812 | €126,762 | +€81,949 | +183% |
| Suppliers | 440/4 | €44,812 | €126,762 | +€81,949 | +183% |
| Taxes, remuneration and social security | 45 | €56,421 | €89,027 | +€32,607 | +57.8% |
| Taxes | 450/3 | €25,702 | €55,280 | +€29,578 | +115% |
| Remuneration and social security | 454/9 | €30,719 | €33,747 | +€3,029 | +9.9% |
| Other amounts payable | 47/48 | €138,000 | - | -€138,000 | |
| Non-recurring operating income | 76A | €340 | - | -€340 | |
| Remuneration, social security and pensions | 62 | €198,534 | €181,973 | -€16,561 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,897 | €40,482 | -€60,415 | -59.9% |
| Other operating charges | 640/8 | €2,103 | €1,043 | -€1,060 | -50.4% |
| Gross operating margin | 9900 | €447,455 | €350,713 | -€96,742 | -21.6% |
| Operating profit (loss) | 9901 | €145,920 | €127,215 | -€18,705 | -12.8% |
| Financial income | 75/76B | €180 | €250 | +€70 | +38.6% |
| Recurring financial income | 75 | €180 | €250 | +€70 | +38.6% |
| Financial charges | 65/66B | €2,899 | €2,108 | -€791 | -27.3% |
| Recurring financial charges | 65 | €2,899 | €2,108 | -€791 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | €143,201 | €125,356 | -€17,845 | -12.5% |
| Income taxes | 67/77 | €5,021 | €37,153 | +€32,131 | +640% |
| Profit (loss) for the period | 9904 | €138,180 | €88,204 | -€49,976 | -36.2% |
| Profit (loss) for the period to be appropriated | 9905 | €138,180 | €88,204 | -€49,976 | -36.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.