TVP TRADING: 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.
TVP TRADING
Largest movements
- Receivables within one year +€27,186
up €27,186 (+70.9%), from €38,340 to €65,526
of which Other amounts receivable: +€13,946
- Deferred charges and accrued income -€12,475
down €12,475 (-90.3%), from €13,813 to €1,338
- Financial fixed assets -€9,000
down €9,000 (-76.7%), from €11,730 to €2,730
- Tangible fixed assets -€5,273
down €5,273 (-11.0%), from €47,848 to €42,575
of which Furniture and vehicles: -€10,100
- Other debts -€52,751
down €52,751 (-78.2%), from €67,466 to €14,715
- Accrued charges and deferred income +€28,977
up €28,977 (+42,551%), from €68 to €29,045
- Reserves +€11,849
up €11,849 (+1,835%), from €646 to €12,495
of which Distributable reserves: +€11,849
- Debts after one year +€9,917
up €9,917 (+42.7%), from €23,213 to €33,130
- Staff costs -€32,737
down €32,737 (-100%), from €32,737 to €0
- Financial income -€17,513
down €17,513 (-96.2%), from €18,212 to €699
- Gross operating margin -€15,437
down €15,437 (-29.3%), from €52,701 to €37,264
- Taxes +€5,494
up €5,494 (+998,898%), from €1 to €5,494
- Write-downs -€3,344
down €3,344 (-100%), from €3,344 to €0
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 | €391,462 | €388,156 | -€3,306 | -0.8% |
| Fixed assets | 21/28 | €62,131 | €47,135 | -€14,995 | -24.1% |
| Intangible fixed assets | 21 | €2,553 | €1,831 | -€722 | -28.3% |
| Tangible fixed assets | 22/27 | €47,848 | €42,575 | -€5,273 | -11.0% |
| Plant, machinery and equipment | 23 | €5,599 | €10,425 | +€4,827 | +86.2% |
| Furniture and vehicles | 24 | €42,249 | €32,149 | -€10,100 | -23.9% |
| Financial fixed assets | 28 | €11,730 | €2,730 | -€9,000 | -76.7% |
| Current assets | 29/58 | €329,331 | €341,020 | +€11,689 | +3.5% |
| Stocks and contracts in progress | 3 | €266,321 | €262,697 | -€3,624 | -1.4% |
| Stocks | 30/36 | €266,321 | €262,697 | -€3,624 | -1.4% |
| Amounts receivable within one year | 40/41 | €38,340 | €65,526 | +€27,186 | +70.9% |
| Trade receivables | 40 | €36,740 | €49,980 | +€13,240 | +36.0% |
| Other amounts receivable | 41 | €1,599 | €15,545 | +€13,946 | +872% |
| Cash at bank and in hand | 54/58 | €10,858 | €11,459 | +€601 | +5.5% |
| Deferred charges and accrued income | 490/1 | €13,813 | €1,338 | -€12,475 | -90.3% |
| Total equity and liabilities | 10/49 | €391,462 | €388,156 | -€3,306 | -0.8% |
| Equity | 10/15 | €198,640 | €210,490 | +€11,849 | +6.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €646 | €12,495 | +€11,849 | +1,835% |
| Tax-exempt reserves | 132 | €646 | €646 | = | 0.0% |
| Distributable reserves | 133 | - | €11,849 | +€11,849 | |
| Profit (loss) carried forward | 14 | €192,995 | €192,995 | = | 0.0% |
| Amounts payable | 17/49 | €192,821 | €177,666 | -€15,155 | -7.9% |
| Amounts payable after more than one year | 17 | €23,213 | €33,130 | +€9,917 | +42.7% |
| Financial debts | 170/4 | €23,213 | €33,130 | +€9,917 | +42.7% |
| Amounts payable within one year | 42/48 | €169,540 | €115,491 | -€54,050 | -31.9% |
| Current portion of amounts payable after more than one year | 42 | €9,723 | €10,083 | +€360 | +3.7% |
| Trade debts | 44 | €89,035 | €89,622 | +€587 | +0.7% |
| Suppliers | 440/4 | €89,035 | €89,622 | +€587 | +0.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,317 | €1,071 | -€2,246 | -67.7% |
| Taxes | 450/3 | €837 | €1,071 | +€233 | +27.9% |
| Remuneration and social security | 454/9 | €2,479 | €0 | -€2,479 | -100% |
| Other amounts payable | 47/48 | €67,466 | €14,715 | -€52,751 | -78.2% |
| Accrued charges and deferred income | 492/3 | €68 | €29,045 | +€28,977 | +42,551% |
| Remuneration, social security and pensions | 62 | €32,737 | €0 | -€32,737 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,799 | €12,706 | +€1,908 | +17.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,344 | €0 | -€3,344 | -100% |
| Other operating charges | 640/8 | €1,091 | €1,137 | +€46 | +4.3% |
| Non-recurring operating charges | 66A | €976 | €0 | -€976 | -100% |
| Gross operating margin | 9900 | €52,701 | €37,264 | -€15,437 | -29.3% |
| Operating profit (loss) | 9901 | €3,754 | €23,420 | +€19,666 | +524% |
| Financial income | 75/76B | €18,212 | €699 | -€17,513 | -96.2% |
| Recurring financial income | 75 | €18,212 | €699 | -€17,513 | -96.2% |
| Financial charges | 65/66B | €4,083 | €6,775 | +€2,692 | +65.9% |
| Recurring financial charges | 65 | €4,083 | €6,775 | +€2,692 | +65.9% |
| Profit (loss) for the period before taxes | 9903 | €17,883 | €17,344 | -€539 | -3.0% |
| Income taxes | 67/77 | €1 | €5,494 | +€5,494 | +998,898% |
| Profit (loss) for the period | 9904 | €17,882 | €11,849 | -€6,033 | -33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €17,882 | €11,849 | -€6,033 | -33.7% |
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 30 October 2026 via checked.be.