TVI: 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.
TVI
Largest movements
- Receivables within one year +€29,581
up €29,581 (+65.4%), from €45,264 to €74,845
of which Trade receivables: +€29,168
- Current investments +€24,528
up €24,528 (+11.4%), from €215,200 to €239,728
- Cash -€8,277
down €8,277 (-14.0%), from €59,275 to €50,999
mainly Receivables within one year (-€29,581) and Current investments (-€24,528)
- Stocks and contracts -€4,600
down €4,600 (-19.6%), from €23,500 to €18,900
- Reserves +€51,583
up €51,583 (+16.7%), from €309,153 to €360,737
of which Distributable reserves: +€51,583
- Other debts -€17,178
down €17,178 (-53.1%), from €32,331 to €15,153
- Trade debts +€7,532
up €7,532 (+91.4%), from €8,239 to €15,771
- Tax, wage and social debts -€7,498
down €7,498 (-54.0%), from €13,877 to €6,378
- Contributions +€7,000
up €7,000 (+100.0%), from €7,000 to €14,000
- Gross operating margin +€17,147
up €17,147 (+18.8%), from €91,328 to €108,475
- Taxes +€5,456
up €5,456 (+22.8%), from €23,930 to €29,386
- Write-downs -€3,000
no longer reported in 2025 (was €3,000)
- Financial income +€1,517
up €1,517 (+52.2%), from €2,906 to €4,423
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 | €377,407 | €414,420 | +€37,013 | +9.8% |
| Fixed assets | 21/28 | €30,963 | €27,065 | -€3,898 | -12.6% |
| Tangible fixed assets | 22/27 | €30,963 | €27,065 | -€3,898 | -12.6% |
| Land and buildings | 22 | €29,204 | €26,257 | -€2,947 | -10.1% |
| Plant, machinery and equipment | 23 | €1,019 | €669 | -€350 | -34.4% |
| Furniture and vehicles | 24 | €740 | €139 | -€600 | -81.2% |
| Current assets | 29/58 | €346,443 | €387,354 | +€40,911 | +11.8% |
| Stocks and contracts in progress | 3 | €23,500 | €18,900 | -€4,600 | -19.6% |
| Stocks | 30/36 | €23,500 | €18,900 | -€4,600 | -19.6% |
| Amounts receivable within one year | 40/41 | €45,264 | €74,845 | +€29,581 | +65.4% |
| Trade receivables | 40 | €43,074 | €72,242 | +€29,168 | +67.7% |
| Other amounts receivable | 41 | €2,189 | €2,602 | +€413 | +18.9% |
| Current investments | 50/53 | €215,200 | €239,728 | +€24,528 | +11.4% |
| Cash at bank and in hand | 54/58 | €59,275 | €50,999 | -€8,277 | -14.0% |
| Deferred charges and accrued income | 490/1 | €3,204 | €2,883 | -€321 | -10.0% |
| Total equity and liabilities | 10/49 | €377,407 | €414,420 | +€37,013 | +9.8% |
| Equity | 10/15 | €316,153 | €374,737 | +€58,583 | +18.5% |
| Contributions | 10/11 | €7,000 | €14,000 | +€7,000 | +100.0% |
| Reserves | 13 | €309,153 | €360,737 | +€51,583 | +16.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €307,293 | €358,877 | +€51,583 | +16.8% |
| Amounts payable | 17/49 | €61,253 | €39,683 | -€21,570 | -35.2% |
| Amounts payable after more than one year | 17 | €2,369 | - | -€2,369 | |
| Financial debts | 170/4 | €2,369 | - | -€2,369 | |
| Amounts payable within one year | 42/48 | €58,884 | €39,683 | -€19,201 | -32.6% |
| Current portion of amounts payable after more than one year | 42 | €4,437 | €2,380 | -€2,057 | -46.4% |
| Trade debts | 44 | €8,239 | €15,771 | +€7,532 | +91.4% |
| Suppliers | 440/4 | €8,239 | €15,771 | +€7,532 | +91.4% |
| Taxes, remuneration and social security | 45 | €13,877 | €6,378 | -€7,498 | -54.0% |
| Taxes | 450/3 | €13,877 | €6,378 | -€7,498 | -54.0% |
| Other amounts payable | 47/48 | €32,331 | €15,153 | -€17,178 | -53.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,293 | €3,898 | -€395 | -9.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,000 | - | -€3,000 | |
| Other operating charges | 640/8 | €1,460 | €1,694 | +€234 | +16.0% |
| Gross operating margin | 9900 | €91,328 | €108,475 | +€17,147 | +18.8% |
| Operating profit (loss) | 9901 | €82,574 | €102,883 | +€20,308 | +24.6% |
| Financial income | 75/76B | €2,906 | €4,423 | +€1,517 | +52.2% |
| Recurring financial income | 75 | €2,906 | €4,423 | +€1,517 | +52.2% |
| Financial charges | 65/66B | €497 | €775 | +€278 | +56.0% |
| Recurring financial charges | 65 | €497 | €775 | +€278 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | €84,984 | €106,530 | +€21,547 | +25.4% |
| Income taxes | 67/77 | €23,930 | €29,386 | +€5,456 | +22.8% |
| Profit (loss) for the period | 9904 | €61,054 | €77,144 | +€16,090 | +26.4% |
| Profit (loss) for the period to be appropriated | 9905 | €61,054 | €77,144 | +€16,090 | +26.4% |
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 5 October 2026 via checked.be.