TVM solutions: 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.
TVM solutions
Largest movements
- Receivables within one year +€44,055
up €44,055 (+140.4%), from €31,387 to €75,441
of which Trade receivables: +€44,276
- Cash +€20,435
up €20,435 (+18.4%), from €110,935 to €131,370
mainly Trade debts (+€48,962) and Depreciation (+€12,749)
- Intangible fixed assets -€12,749
down €12,749 (-44.4%), from €28,694 to €15,945
- Trade debts +€48,962
up €48,962 (+208.6%), from €23,475 to €72,436
- Profit (loss) carried forward +€6,134
up €6,134 (+17.8%), from €34,511 to €40,645
- Tax, wage and social debts -€3,207
down €3,207 (-100.0%), from €3,207 to €0
- Gross operating margin -€3,340
down €3,340 (-12.9%), from €25,897 to €22,557
- Financial income -€1,981
down €1,981 (-98.4%), from €2,014 to €33
of which Non-recurring financial income: -€1,902
- Taxes -€1,288
down €1,288 (-37.0%), from €3,479 to €2,192
- Write-downs +€850
new in 2025: €850
- Depreciation -€544
down €544 (-4.1%), from €13,293 to €12,749
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 | €171,016 | €222,904 | +€51,888 | +30.3% |
| Fixed assets | 21/28 | €28,694 | €15,945 | -€12,749 | -44.4% |
| Intangible fixed assets | 21 | €28,694 | €15,945 | -€12,749 | -44.4% |
| Current assets | 29/58 | €142,322 | €206,959 | +€64,637 | +45.4% |
| Amounts receivable within one year | 40/41 | €31,387 | €75,441 | +€44,055 | +140.4% |
| Trade receivables | 40 | €23,304 | €67,580 | +€44,276 | +190.0% |
| Other amounts receivable | 41 | €8,082 | €7,861 | -€221 | -2.7% |
| Cash at bank and in hand | 54/58 | €110,935 | €131,370 | +€20,435 | +18.4% |
| Deferred charges and accrued income | 490/1 | - | €148 | +€148 | |
| Total equity and liabilities | 10/49 | €171,016 | €222,904 | +€51,888 | +30.3% |
| Equity | 10/15 | €144,334 | €150,468 | +€6,134 | +4.2% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €91,073 | €91,073 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,134 | €6,134 | = | 0.0% |
| Distributable reserves | 133 | €84,938 | €84,938 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,511 | €40,645 | +€6,134 | +17.8% |
| Amounts payable | 17/49 | €26,682 | €72,436 | +€45,754 | +171.5% |
| Amounts payable within one year | 42/48 | €26,682 | €72,436 | +€45,754 | +171.5% |
| Trade debts | 44 | €23,475 | €72,436 | +€48,962 | +208.6% |
| Suppliers | 440/4 | €23,475 | €72,436 | +€48,962 | +208.6% |
| Taxes, remuneration and social security | 45 | €3,207 | €0 | -€3,207 | -100.0% |
| Taxes | 450/3 | €3,207 | €0 | -€3,207 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,293 | €12,749 | -€544 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €850 | +€850 | |
| Other operating charges | 640/8 | €590 | €520 | -€71 | -12.0% |
| Gross operating margin | 9900 | €25,897 | €22,557 | -€3,340 | -12.9% |
| Operating profit (loss) | 9901 | €12,014 | €8,438 | -€3,575 | -29.8% |
| Financial income | 75/76B | €2,014 | €33 | -€1,981 | -98.4% |
| Recurring financial income | 75 | €112 | €33 | -€79 | -70.5% |
| Non-recurring financial income | 76B | €1,902 | €0 | -€1,902 | -100.0% |
| Financial charges | 65/66B | €39 | €146 | +€106 | +269.1% |
| Recurring financial charges | 65 | €39 | €146 | +€106 | +269.1% |
| Profit (loss) for the period before taxes | 9903 | €13,988 | €8,326 | -€5,662 | -40.5% |
| Income taxes | 67/77 | €3,479 | €2,192 | -€1,288 | -37.0% |
| Profit (loss) for the period | 9904 | €10,509 | €6,134 | -€4,375 | -41.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,509 | €6,134 | -€4,375 | -41.6% |
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 7 October 2026 via checked.be.