TVH GLOBAL SERVICES: 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 GLOBAL SERVICES
Largest movements
- Receivables after one year -€453,248
down €453,248 (-71.2%), from €636,170 to €182,922
- Deferred charges and accrued income +€202,590
up €202,590 (+36.8%), from €549,828 to €752,418
- Profit (loss) carried forward -€620,082
down €620,082 (-86.2%), from €719,138 to €99,056
- Other debts +€241,048
up €241,048 (+55.8%), from €432,340 to €673,387
- Accrued charges and deferred income +€202,316
up €202,316 (+40.8%), from €496,201 to €698,517
- Trade debts -€52,475
down €52,475 (-54.2%), from €96,862 to €44,386
- Financial charges +€940,893
up €940,893 (+3,929%), from €23,944 to €964,837
- Gross operating margin +€172,487
up €172,487 (+59.0%), from €292,355 to €464,842
- Taxes +€45,572
up €45,572 (+63.0%), from €72,296 to €117,868
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,766,836 | €1,531,214 | -€235,622 | -13.3% |
| Current assets | 29/58 | €1,766,836 | €1,531,214 | -€235,622 | -13.3% |
| Amounts receivable after more than one year | 29 | €636,170 | €182,922 | -€453,248 | -71.2% |
| Other amounts receivable | 291 | €636,170 | €182,922 | -€453,248 | -71.2% |
| Amounts receivable within one year | 40/41 | €580,838 | €595,874 | +€15,036 | +2.6% |
| Trade receivables | 40 | €365,315 | €426,936 | +€61,621 | +16.9% |
| Other amounts receivable | 41 | €215,523 | €168,937 | -€46,586 | -21.6% |
| Deferred charges and accrued income | 490/1 | €549,828 | €752,418 | +€202,590 | +36.8% |
| Total equity and liabilities | 10/49 | €1,766,836 | €1,531,214 | -€235,622 | -13.3% |
| Equity | 10/15 | €729,138 | €109,056 | -€620,082 | -85.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €719,138 | €99,056 | -€620,082 | -86.2% |
| Amounts payable | 17/49 | €1,037,698 | €1,422,158 | +€384,460 | +37.0% |
| Amounts payable within one year | 42/48 | €541,497 | €723,642 | +€182,145 | +33.6% |
| Trade debts | 44 | €96,862 | €44,386 | -€52,475 | -54.2% |
| Suppliers | 440/4 | €96,862 | €44,386 | -€52,475 | -54.2% |
| Taxes, remuneration and social security | 45 | €12,296 | €5,868 | -€6,428 | -52.3% |
| Taxes | 450/3 | €12,296 | €5,868 | -€6,428 | -52.3% |
| Other amounts payable | 47/48 | €432,340 | €673,387 | +€241,048 | +55.8% |
| Accrued charges and deferred income | 492/3 | €496,201 | €698,517 | +€202,316 | +40.8% |
| Other operating charges | 640/8 | €499 | €2,220 | +€1,721 | +344% |
| Gross operating margin | 9900 | €292,355 | €464,842 | +€172,487 | +59.0% |
| Operating profit (loss) | 9901 | €291,855 | €462,622 | +€170,766 | +58.5% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €23,944 | €964,837 | +€940,893 | +3,929% |
| Recurring financial charges | 65 | €23,944 | €964,837 | +€940,893 | +3,929% |
| Profit (loss) for the period before taxes | 9903 | €267,911 | -€502,215 | -€770,126 | |
| Income taxes | 67/77 | €72,296 | €117,868 | +€45,572 | +63.0% |
| Profit (loss) for the period | 9904 | €195,615 | -€620,082 | -€815,698 | |
| Profit (loss) for the period to be appropriated | 9905 | €195,615 | -€620,082 | -€815,698 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.