TVK Construct: 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.
TVK Construct
Largest movements
- Cash +€271,812
up €271,812 (+209.4%), from €129,803 to €401,614
mainly Net result for the year (+€345,213) and Tax, wage and social debts (+€59,105)
- Receivables within one year +€101,389
up €101,389 (+192.6%), from €52,630 to €154,018
of which Other amounts receivable: +€99,222
- Stocks and contracts +€41,053
new in 2025: €41,053
of which Contracts in progress: +€36,253
- Reserves +€345,213
up €345,213 (+203.1%), from €169,950 to €515,163
- Tax, wage and social debts +€59,105
up €59,105 (+218.6%), from €27,043 to €86,147
of which Taxes: +€60,089
- Trade debts +€9,520
up €9,520 (+97.2%), from €9,796 to €19,316
- Gross operating margin +€347,220
up €347,220 (+303.2%), from €114,520 to €461,740
- Taxes +€87,495
up €87,495 (+387.3%), from €22,594 to €110,089
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 | €211,789 | €625,627 | +€413,838 | +195.4% |
| Fixed assets | 21/28 | €29,036 | €28,444 | -€592 | -2.0% |
| Tangible fixed assets | 22/27 | €29,036 | €28,444 | -€592 | -2.0% |
| Plant, machinery and equipment | 23 | €4,378 | €10,222 | +€5,845 | +133.5% |
| Furniture and vehicles | 24 | €24,658 | €18,222 | -€6,436 | -26.1% |
| Current assets | 29/58 | €182,753 | €597,182 | +€414,430 | +226.8% |
| Stocks and contracts in progress | 3 | - | €41,053 | +€41,053 | |
| Stocks | 30/36 | - | €4,800 | +€4,800 | |
| Contracts in progress | 37 | - | €36,253 | +€36,253 | |
| Amounts receivable within one year | 40/41 | €52,630 | €154,018 | +€101,389 | +192.6% |
| Trade receivables | 40 | €39,914 | €42,081 | +€2,167 | +5.4% |
| Other amounts receivable | 41 | €12,715 | €111,938 | +€99,222 | +780.3% |
| Cash at bank and in hand | 54/58 | €129,803 | €401,614 | +€271,812 | +209.4% |
| Deferred charges and accrued income | 490/1 | €320 | €497 | +€177 | +55.2% |
| Total equity and liabilities | 10/49 | €211,789 | €625,627 | +€413,838 | +195.4% |
| Equity | 10/15 | €174,950 | €520,163 | +€345,213 | +197.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €169,950 | €515,163 | +€345,213 | +203.1% |
| Distributable reserves | 133 | €169,950 | €515,163 | +€345,213 | +203.1% |
| Amounts payable | 17/49 | €36,838 | €105,463 | +€68,625 | +186.3% |
| Amounts payable within one year | 42/48 | €36,838 | €105,463 | +€68,625 | +186.3% |
| Trade debts | 44 | €9,796 | €19,316 | +€9,520 | +97.2% |
| Suppliers | 440/4 | €9,796 | €19,316 | +€9,520 | +97.2% |
| Taxes, remuneration and social security | 45 | €27,043 | €86,147 | +€59,105 | +218.6% |
| Taxes | 450/3 | €22,594 | €82,683 | +€60,089 | +266.0% |
| Remuneration and social security | 454/9 | €4,449 | €3,465 | -€984 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,868 | €9,545 | +€677 | +7.6% |
| Gross operating margin | 9900 | €114,520 | €461,740 | +€347,220 | +303.2% |
| Operating profit (loss) | 9901 | €105,652 | €452,195 | +€346,543 | +328.0% |
| Financial income | 75/76B | €230 | €3,162 | +€2,931 | +1271.8% |
| Recurring financial income | 75 | €230 | €3,162 | +€2,931 | +1271.8% |
| Financial charges | 65/66B | €0 | €55 | +€55 | +32241.2% |
| Recurring financial charges | 65 | €0 | €55 | +€55 | +32241.2% |
| Profit (loss) for the period before taxes | 9903 | €105,882 | €455,302 | +€349,420 | +330.0% |
| Income taxes | 67/77 | €22,594 | €110,089 | +€87,495 | +387.3% |
| Profit (loss) for the period | 9904 | €83,289 | €345,213 | +€261,924 | +314.5% |
| Profit (loss) for the period to be appropriated | 9905 | €83,289 | €345,213 | +€261,924 | +314.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.