TVPIG: 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.
TVPIG
Largest movements
- Cash +€13,659
up €13,659 (+175.8%), from €7,770 to €21,429
mainly Net result for the year (+€22,683) and Depreciation (+€9,947)
- Receivables within one year +€9,309
up €9,309 (+51.7%), from €17,990 to €27,298
- Tangible fixed assets -€7,836
down €7,836 (-8.7%), from €90,150 to €82,314
of which Land and buildings: -€9,556
- Reserves +€22,683
up €22,683 (+71.2%), from €31,846 to €54,529
of which Distributable reserves: +€22,683
- Debts after one year -€9,342
down €9,342 (-9.9%), from €94,471 to €85,129
- Tax, wage and social debts +€2,127
up €2,127 (+146.7%), from €1,450 to €3,577
of which Taxes: +€2,127
- Depreciation -€4,615
down €4,615 (-31.7%), from €14,562 to €9,947
- Taxes +€4,396
up €4,396 (+56.9%), from €7,731 to €12,127
- Gross operating margin +€3,698
up €3,698 (+8.1%), from €45,534 to €49,232
- Financial charges -€2,818
down €2,818 (-41.7%), from €6,759 to €3,941
- Other operating charges -€533
down €533 (-49.3%), from €1,080 to €547
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 | €172,641 | €188,533 | +€15,891 | +9.2% |
| Fixed assets | 21/28 | €90,150 | €82,314 | -€7,836 | -8.7% |
| Tangible fixed assets | 22/27 | €90,150 | €82,314 | -€7,836 | -8.7% |
| Land and buildings | 22 | €90,150 | €80,594 | -€9,556 | -10.6% |
| Plant, machinery and equipment | 23 | €0 | €1,720 | +€1,720 | |
| Current assets | 29/58 | €82,491 | €106,219 | +€23,727 | +28.8% |
| Amounts receivable after more than one year | 29 | €47,500 | €47,500 | = | 0.0% |
| Other amounts receivable | 291 | €47,500 | €47,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €17,990 | €27,298 | +€9,309 | +51.7% |
| Other amounts receivable | 41 | €17,990 | €27,298 | +€9,309 | +51.7% |
| Cash at bank and in hand | 54/58 | €7,770 | €21,429 | +€13,659 | +175.8% |
| Deferred charges and accrued income | 490/1 | €9,231 | €9,991 | +€760 | +8.2% |
| Total equity and liabilities | 10/49 | €172,641 | €188,533 | +€15,891 | +9.2% |
| Equity | 10/15 | €44,246 | €66,929 | +€22,683 | +51.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €31,846 | €54,529 | +€22,683 | +71.2% |
| Non-distributable reserves | 130/1 | €341 | €341 | = | 0.0% |
| Reserves not available under the articles | 1311 | €341 | €341 | = | 0.0% |
| Distributable reserves | 133 | €31,505 | €54,188 | +€22,683 | +72.0% |
| Amounts payable | 17/49 | €128,396 | €121,604 | -€6,792 | -5.3% |
| Amounts payable after more than one year | 17 | €94,471 | €85,129 | -€9,342 | -9.9% |
| Financial debts | 170/4 | €94,471 | €85,129 | -€9,342 | -9.9% |
| Amounts payable within one year | 42/48 | €33,924 | €36,474 | +€2,550 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €15,358 | €15,607 | +€249 | +1.6% |
| Trade debts | 44 | €0 | €174 | +€174 | |
| Suppliers | 440/4 | €0 | €174 | +€174 | |
| Taxes, remuneration and social security | 45 | €1,450 | €3,577 | +€2,127 | +146.7% |
| Taxes | 450/3 | €450 | €2,577 | +€2,127 | +472.7% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €17,116 | €17,116 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,562 | €9,947 | -€4,615 | -31.7% |
| Other operating charges | 640/8 | €1,080 | €547 | -€533 | -49.3% |
| Gross operating margin | 9900 | €45,534 | €49,232 | +€3,698 | +8.1% |
| Operating profit (loss) | 9901 | €29,891 | €38,738 | +€8,847 | +29.6% |
| Financial income | 75/76B | €0 | €14 | +€14 | +11575.0% |
| Recurring financial income | 75 | €0 | €14 | +€14 | +11575.0% |
| Financial charges | 65/66B | €6,759 | €3,941 | -€2,818 | -41.7% |
| Recurring financial charges | 65 | €6,759 | €3,941 | -€2,818 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €23,132 | €34,811 | +€11,678 | +50.5% |
| Income taxes | 67/77 | €7,731 | €12,127 | +€4,396 | +56.9% |
| Profit (loss) for the period | 9904 | €15,401 | €22,683 | +€7,282 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,401 | €22,683 | +€7,282 | +47.3% |
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 3 October 2026 via checked.be.