TVM brokerage: 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.
TVM brokerage
Largest movements
- Receivables within one year +€25,538
up €25,538 (+17.5%), from €146,114 to €171,652
of which Trade receivables: +€23,185
- Cash -€12,596
down €12,596 (-2.3%), from €539,297 to €526,701
mainly Other debts (-€138,604) and Receivables within one year (-€25,538)
- Other debts -€138,604
down €138,604 (-75.6%), from €183,392 to €44,788
- Trade debts +€120,131
up €120,131 (+39.0%), from €307,699 to €427,830
- Accrued charges and deferred income +€31,394
new in 2025: €31,394
- Turnover -€23,648
down €23,648 (-8.8%), from €270,157 to €246,509
- Purchases and services -€23,199
down €23,199 (-8.6%), from €269,132 to €245,933
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 | €690,402 | €703,357 | +€12,955 | +1.9% |
| Fixed assets | 21/28 | €446 | €446 | = | 0.0% |
| Financial fixed assets | 28 | €446 | €446 | = | 0.0% |
| Current assets | 29/58 | €689,956 | €702,911 | +€12,955 | +1.9% |
| Amounts receivable within one year | 40/41 | €146,114 | €171,652 | +€25,538 | +17.5% |
| Trade receivables | 40 | €133,522 | €156,707 | +€23,185 | +17.4% |
| Other amounts receivable | 41 | €12,592 | €14,945 | +€2,353 | +18.7% |
| Current investments | 50/53 | €1,898 | €1,911 | +€13 | +0.7% |
| Cash at bank and in hand | 54/58 | €539,297 | €526,701 | -€12,596 | -2.3% |
| Deferred charges and accrued income | 490/1 | €2,647 | €2,647 | = | 0.0% |
| Total equity and liabilities | 10/49 | €690,402 | €703,357 | +€12,955 | +1.9% |
| Equity | 10/15 | €199,311 | €199,345 | +€34 | 0.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €35,470 | €35,470 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €29,270 | €29,270 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,841 | €101,875 | +€34 | 0.0% |
| Amounts payable | 17/49 | €491,091 | €504,012 | +€12,921 | +2.6% |
| Amounts payable within one year | 42/48 | €491,091 | €472,618 | -€18,473 | -3.8% |
| Trade debts | 44 | €307,699 | €427,830 | +€120,131 | +39.0% |
| Suppliers | 440/4 | €307,699 | €427,830 | +€120,131 | +39.0% |
| Other amounts payable | 47/48 | €183,392 | €44,788 | -€138,604 | -75.6% |
| Accrued charges and deferred income | 492/3 | - | €31,394 | +€31,394 | |
| Turnover | 70 | €270,157 | €246,509 | -€23,648 | -8.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €269,132 | €245,933 | -€23,199 | -8.6% |
| Other operating charges | 640/8 | €403 | €240 | -€163 | -40.4% |
| Gross operating margin | 9900 | €1,025 | €576 | -€449 | -43.8% |
| Operating profit (loss) | 9901 | €622 | €336 | -€286 | -46.0% |
| Financial income | 75/76B | - | €19 | +€19 | |
| Recurring financial income | 75 | - | €19 | +€19 | |
| Financial charges | 65/66B | €426 | €593 | +€167 | +39.2% |
| Recurring financial charges | 65 | €426 | €593 | +€167 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €196 | -€238 | -€434 | |
| Income taxes | 67/77 | -€801 | -€272 | +€529 | +66.0% |
| Profit (loss) for the period | 9904 | €997 | €34 | -€963 | -96.6% |
| Profit (loss) for the period to be appropriated | 9905 | €997 | €34 | -€963 | -96.6% |
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.