TVL: 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.
TVL
Largest movements
- Cash -€14,629
down €14,629 (-90.5%), from €16,161 to €1,532
mainly Debts after one year (-€13,200) and Investment in fixed assets (net) (-€12,036)
- Receivables within one year +€11,515
up €11,515 (+29.9%), from €38,489 to €50,004
of which Other amounts receivable: +€14,725
- Deferred charges and accrued income -€2,915
down €2,915 (-100.0%), from €2,915 to €0
- Tangible fixed assets -€2,683
down €2,683 (-1.5%), from €173,996 to €171,313
of which Land and buildings: -€2,509
- Reserves +€14,006
up €14,006 (+16.0%), from €87,688 to €101,694
of which Distributable reserves: +€15,866
- Debts after one year -€13,200
down €13,200 (-12.5%), from €105,688 to €92,488
- Trade debts -€8,244
down €8,244 (-66.8%), from €12,343 to €4,099
- Accrued charges and deferred income -€2,964
no longer reported in 2024 (was €2,964)
- Depreciation -€3,640
down €3,640 (-19.8%), from €18,358 to €14,719
- Staff costs +€3,247
up €3,247 (+25.5%), from €12,713 to €15,960
- Gross operating margin +€2,680
up €2,680 (+5.2%), from €51,351 to €54,030
- Taxes +€864
up €864 (+16.3%), from €5,287 to €6,150
- Financial income +€563
up €563 (+37.8%), from €1,488 to €2,051
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 | €236,625 | €226,703 | -€9,922 | -4.2% |
| Fixed assets | 21/28 | €173,996 | €171,313 | -€2,683 | -1.5% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €173,996 | €171,313 | -€2,683 | -1.5% |
| Land and buildings | 22 | €152,875 | €150,367 | -€2,509 | -1.6% |
| Plant, machinery and equipment | 23 | €21,121 | €20,947 | -€174 | -0.8% |
| Furniture and vehicles | 24 | - | €0 | = | |
| Current assets | 29/58 | €62,629 | €55,389 | -€7,240 | -11.6% |
| Stocks and contracts in progress | 3 | €5,065 | €3,854 | -€1,211 | -23.9% |
| Stocks | 30/36 | €5,065 | €3,854 | -€1,211 | -23.9% |
| Amounts receivable within one year | 40/41 | €38,489 | €50,004 | +€11,515 | +29.9% |
| Trade receivables | 40 | €3,209 | - | -€3,209 | |
| Other amounts receivable | 41 | €35,279 | €50,004 | +€14,725 | +41.7% |
| Cash at bank and in hand | 54/58 | €16,161 | €1,532 | -€14,629 | -90.5% |
| Deferred charges and accrued income | 490/1 | €2,915 | €0 | -€2,915 | -100.0% |
| Total equity and liabilities | 10/49 | €236,625 | €226,703 | -€9,922 | -4.2% |
| Equity | 10/15 | €94,088 | €108,094 | +€14,006 | +14.9% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €87,688 | €101,694 | +€14,006 | +16.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €85,828 | €101,694 | +€15,866 | +18.5% |
| Amounts payable | 17/49 | €142,537 | €118,608 | -€23,929 | -16.8% |
| Amounts payable after more than one year | 17 | €105,688 | €92,488 | -€13,200 | -12.5% |
| Financial debts | 170/4 | €105,688 | €92,488 | -€13,200 | -12.5% |
| Amounts payable within one year | 42/48 | €33,886 | €26,120 | -€7,765 | -22.9% |
| Current portion of amounts payable after more than one year | 42 | €13,534 | €13,546 | +€12 | +0.1% |
| Trade debts | 44 | €12,343 | €4,099 | -€8,244 | -66.8% |
| Suppliers | 440/4 | €12,343 | €4,099 | -€8,244 | -66.8% |
| Taxes, remuneration and social security | 45 | €8,008 | €8,475 | +€466 | +5.8% |
| Taxes | 450/3 | €7,088 | €7,437 | +€348 | +4.9% |
| Remuneration and social security | 454/9 | €920 | €1,038 | +€118 | +12.8% |
| Accrued charges and deferred income | 492/3 | €2,964 | - | -€2,964 | |
| Remuneration, social security and pensions | 62 | €12,713 | €15,960 | +€3,247 | +25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,358 | €14,719 | -€3,640 | -19.8% |
| Other operating charges | 640/8 | €2,251 | €1,925 | -€326 | -14.5% |
| Gross operating margin | 9900 | €51,351 | €54,030 | +€2,680 | +5.2% |
| Operating profit (loss) | 9901 | €18,029 | €21,427 | +€3,399 | +18.9% |
| Financial income | 75/76B | €1,488 | €2,051 | +€563 | +37.8% |
| Recurring financial income | 75 | €1,488 | €2,051 | +€563 | +37.8% |
| Financial charges | 65/66B | €3,312 | €3,321 | +€9 | +0.3% |
| Recurring financial charges | 65 | €3,312 | €3,321 | +€9 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €16,204 | €20,157 | +€3,952 | +24.4% |
| Income taxes | 67/77 | €5,287 | €6,150 | +€864 | +16.3% |
| Profit (loss) for the period | 9904 | €10,918 | €14,006 | +€3,089 | +28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,918 | €14,006 | +€3,089 | +28.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.