TVR: 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.
TVR
Largest movements
- Cash +€202,413
up €202,413 (+79.1%), from €255,942 to €458,355
mainly Net result for the year (+€170,751) and Depreciation (+€51,186)
- Tangible fixed assets -€42,663
down €42,663 (-36.6%), from €116,491 to €73,828
of which Furniture and vehicles: -€31,312
- Stocks and contracts -€35,053
down €35,053 (-9.8%), from €358,988 to €323,934
- Receivables within one year -€15,708
down €15,708 (-26.6%), from €59,035 to €43,327
of which Trade receivables: -€17,824
- Current investments +€12,000
up €12,000 (+92.3%), from €13,000 to €25,000
- Reserves +€170,751
up €170,751 (+27.8%), from €613,462 to €784,214
- Tax, wage and social debts -€25,196
down €25,196 (-64.3%), from €39,205 to €14,009
of which Taxes: -€23,721
- Trade debts -€12,300
down €12,300 (-56.1%), from €21,919 to €9,619
- Gross operating margin -€93,767
down €93,767 (-28.7%), from €327,231 to €233,465
- Financial income +€52,882
up €52,882 (+111,968%), from €47 to €52,930
- Depreciation +€29,766
up €29,766 (+139%), from €21,420 to €51,186
- Taxes -€9,070
down €9,070 (-12.9%), from €70,230 to €61,160
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 | €803,456 | €925,289 | +€121,832 | +15.2% |
| Fixed assets | 21/28 | €116,492 | €73,829 | -€42,663 | -36.6% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €116,491 | €73,828 | -€42,663 | -36.6% |
| Land and buildings | 22 | €49,458 | €42,730 | -€6,728 | -13.6% |
| Plant, machinery and equipment | 23 | €6,268 | €1,645 | -€4,623 | -73.8% |
| Furniture and vehicles | 24 | €60,765 | €29,453 | -€31,312 | -51.5% |
| Current assets | 29/58 | €686,965 | €851,460 | +€164,495 | +23.9% |
| Stocks and contracts in progress | 3 | €358,988 | €323,934 | -€35,053 | -9.8% |
| Stocks | 30/36 | €358,988 | €323,934 | -€35,053 | -9.8% |
| Amounts receivable within one year | 40/41 | €59,035 | €43,327 | -€15,708 | -26.6% |
| Trade receivables | 40 | €59,035 | €41,212 | -€17,824 | -30.2% |
| Other amounts receivable | 41 | - | €2,115 | +€2,115 | |
| Current investments | 50/53 | €13,000 | €25,000 | +€12,000 | +92.3% |
| Cash at bank and in hand | 54/58 | €255,942 | €458,355 | +€202,413 | +79.1% |
| Deferred charges and accrued income | 490/1 | - | €844 | +€844 | |
| Total equity and liabilities | 10/49 | €803,456 | €925,289 | +€121,832 | +15.2% |
| Equity | 10/15 | €618,462 | €789,214 | +€170,751 | +27.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Capital | 10 | €5,000 | - | -€5,000 | |
| Issued capital | 100 | €5,000 | - | -€5,000 | |
| Contributions outside capital | 11 | - | €5,000 | +€5,000 | |
| Other | 1109/19 | - | €5,000 | +€5,000 | |
| Reserves | 13 | €613,462 | €784,214 | +€170,751 | +27.8% |
| Distributable reserves | 133 | €613,462 | €784,214 | +€170,751 | +27.8% |
| Amounts payable | 17/49 | €184,994 | €136,075 | -€48,919 | -26.4% |
| Amounts payable after more than one year | 17 | €35,323 | €28,628 | -€6,695 | -19.0% |
| Financial debts | 170/4 | €35,323 | €28,628 | -€6,695 | -19.0% |
| Amounts payable within one year | 42/48 | €149,672 | €107,447 | -€42,225 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €6,738 | €6,744 | +€5 | +0.1% |
| Trade debts | 44 | €21,919 | €9,619 | -€12,300 | -56.1% |
| Suppliers | 440/4 | €21,919 | €9,619 | -€12,300 | -56.1% |
| Taxes, remuneration and social security | 45 | €39,205 | €14,009 | -€25,196 | -64.3% |
| Taxes | 450/3 | €37,730 | €14,009 | -€23,721 | -62.9% |
| Remuneration and social security | 454/9 | €1,475 | - | -€1,475 | |
| Other amounts payable | 47/48 | €81,809 | €77,075 | -€4,734 | -5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,420 | €51,186 | +€29,766 | +139% |
| Other operating charges | 640/8 | €1,837 | €1,894 | +€58 | +3.1% |
| Gross operating margin | 9900 | €327,231 | €233,465 | -€93,767 | -28.7% |
| Operating profit (loss) | 9901 | €303,974 | €180,384 | -€123,590 | -40.7% |
| Financial income | 75/76B | €47 | €52,930 | +€52,882 | +111,968% |
| Recurring financial income | 75 | €47 | €52,930 | +€52,882 | +111,968% |
| Financial charges | 65/66B | €3,101 | €1,402 | -€1,699 | -54.8% |
| Recurring financial charges | 65 | €3,101 | €1,402 | -€1,699 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €300,920 | €231,911 | -€69,009 | -22.9% |
| Income taxes | 67/77 | €70,230 | €61,160 | -€9,070 | -12.9% |
| Profit (loss) for the period | 9904 | €230,690 | €170,751 | -€59,939 | -26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €230,690 | €170,751 | -€59,939 | -26.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.