Tvnrshgn: 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.
Tvnrshgn
Largest movements
- Cash +€176,009
up €176,009 (+696%), from €25,297 to €201,307
mainly Net result for the year (+€228,981) and Other debts (+€228,981)
- Receivables within one year -€130,590
down €130,590 (-50.2%), from €260,222 to €129,632
of which Trade receivables: -€131,419
- Tangible fixed assets -€11,369
down €11,369 (-22.0%), from €51,757 to €40,388
of which Furniture and vehicles: -€9,446
- Other debts +€228,981
new in 2025: €228,981
- Profit (loss) carried forward -€119,036
no longer reported in 2025 (was €119,036)
- Current portion of long-term debt -€49,771
down €49,771 (-90.8%), from €54,790 to €5,019
- Trade debts -€31,078
down €31,078 (-63.0%), from €49,314 to €18,235
- Tax, wage and social debts +€11,835
up €11,835 (+11.6%), from €102,144 to €113,979
of which Taxes: +€15,440
- Gross operating margin +€153,304
up €153,304 (+67.1%), from €228,441 to €381,745
- Taxes +€45,895
up €45,895 (+142%), from €32,275 to €78,170
- Staff costs -€17,677
down €17,677 (-24.8%), from €71,167 to €53,490
- Financial charges +€4,723
up €4,723 (+375%), from €1,258 to €5,981
- Other operating charges -€4,281
down €4,281 (-65.0%), from €6,582 to €2,301
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 | €362,476 | €396,527 | +€34,051 | +9.4% |
| Fixed assets | 21/28 | €76,957 | €65,588 | -€11,369 | -14.8% |
| Tangible fixed assets | 22/27 | €51,757 | €40,388 | -€11,369 | -22.0% |
| Plant, machinery and equipment | 23 | €2,933 | €2,789 | -€144 | -4.9% |
| Furniture and vehicles | 24 | €35,997 | €26,551 | -€9,446 | -26.2% |
| Other tangible fixed assets | 26 | €12,827 | €11,048 | -€1,778 | -13.9% |
| Financial fixed assets | 28 | €25,200 | €25,200 | = | 0.0% |
| Current assets | 29/58 | €285,519 | €330,939 | +€45,420 | +15.9% |
| Amounts receivable within one year | 40/41 | €260,222 | €129,632 | -€130,590 | -50.2% |
| Trade receivables | 40 | €243,222 | €111,803 | -€131,419 | -54.0% |
| Other amounts receivable | 41 | €17,000 | €17,830 | +€830 | +4.9% |
| Cash at bank and in hand | 54/58 | €25,297 | €201,307 | +€176,009 | +696% |
| Total equity and liabilities | 10/49 | €362,476 | €396,527 | +€34,051 | +9.4% |
| Equity | 10/15 | €139,496 | €18,600 | -€120,896 | -86.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,860 | - | -€1,860 | |
| Profit (loss) carried forward | 14 | €119,036 | - | -€119,036 | |
| Amounts payable | 17/49 | €222,980 | €377,927 | +€154,947 | +69.5% |
| Amounts payable after more than one year | 17 | €16,731 | €11,712 | -€5,019 | -30.0% |
| Financial debts | 170/4 | €16,731 | €11,712 | -€5,019 | -30.0% |
| Amounts payable within one year | 42/48 | €206,248 | €366,215 | +€159,966 | +77.6% |
| Current portion of amounts payable after more than one year | 42 | €54,790 | €5,019 | -€49,771 | -90.8% |
| Trade debts | 44 | €49,314 | €18,235 | -€31,078 | -63.0% |
| Suppliers | 440/4 | €49,314 | €18,235 | -€31,078 | -63.0% |
| Taxes, remuneration and social security | 45 | €102,144 | €113,979 | +€11,835 | +11.6% |
| Taxes | 450/3 | €88,248 | €103,688 | +€15,440 | +17.5% |
| Remuneration and social security | 454/9 | €13,896 | €10,291 | -€3,605 | -25.9% |
| Other amounts payable | 47/48 | - | €228,981 | +€228,981 | |
| Remuneration, social security and pensions | 62 | €71,167 | €53,490 | -€17,677 | -24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,339 | €12,822 | +€483 | +3.9% |
| Other operating charges | 640/8 | €6,582 | €2,301 | -€4,281 | -65.0% |
| Gross operating margin | 9900 | €228,441 | €381,745 | +€153,304 | +67.1% |
| Operating profit (loss) | 9901 | €138,354 | €313,132 | +€174,779 | +126% |
| Financial charges | 65/66B | €1,258 | €5,981 | +€4,723 | +375% |
| Recurring financial charges | 65 | €1,258 | €5,981 | +€4,723 | +375% |
| Profit (loss) for the period before taxes | 9903 | €137,096 | €307,152 | +€170,056 | +124% |
| Income taxes | 67/77 | €32,275 | €78,170 | +€45,895 | +142% |
| Profit (loss) for the period | 9904 | €104,821 | €228,981 | +€124,161 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €104,821 | €228,981 | +€124,161 | +118% |
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 29 October 2026 via checked.be.