TVV MANAGEMENT: what changed
TVV MANAGEMENT
Largest movements
- Tangible fixed assets +€46,188
up €46,188 (+121%), from €38,261 to €84,450
of which Land and buildings: +€28,192
- Cash -€36,411
down €36,411 (-86.6%), from €42,040 to €5,629
mainly Investment in fixed assets (net) (-€77,724) and Receivables after one year (-€14,509)
- Receivables after one year +€14,509
up €14,509 (+28.1%), from €51,642 to €66,152
- Receivables within one year -€3,408
down €3,408 (-10.5%), from €32,426 to €29,018
of which Other amounts receivable: -€1,762
- Current portion of long-term debt +€15,149
new in 2025: €15,149
- Reserves +€14,073
up €14,073 (+11.0%), from €127,785 to €141,859
- Tax, wage and social debts -€10,520
down €10,520 (-52.7%), from €19,974 to €9,455
- Debts after one year +€2,569
new in 2025: €2,569
- Gross operating margin -€13,380
down €13,380 (-20.5%), from €65,425 to €52,046
- Depreciation +€13,203
up €13,203 (+72.0%), from €18,333 to €31,536
- Taxes -€7,386
down €7,386 (-50.8%), from €14,552 to €7,165
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €167,249 | €188,688 | +€21,439 | +12.8% |
| Fixed assets | 21/28 | €38,261 | €84,450 | +€46,188 | +121% |
| Tangible fixed assets | 22/27 | €38,261 | €84,450 | +€46,188 | +121% |
| Land and buildings | 22 | €16,851 | €45,043 | +€28,192 | +167% |
| Plant, machinery and equipment | 23 | €2,485 | €2,609 | +€124 | +5.0% |
| Furniture and vehicles | 24 | €18,926 | €36,798 | +€17,872 | +94.4% |
| Current assets | 29/58 | €128,988 | €104,238 | -€24,750 | -19.2% |
| Amounts receivable after more than one year | 29 | €51,642 | €66,152 | +€14,509 | +28.1% |
| Other amounts receivable | 291 | €51,642 | €66,152 | +€14,509 | +28.1% |
| Amounts receivable within one year | 40/41 | €32,426 | €29,018 | -€3,408 | -10.5% |
| Trade receivables | 40 | €6,686 | €5,039 | -€1,646 | -24.6% |
| Other amounts receivable | 41 | €25,740 | €23,979 | -€1,762 | -6.8% |
| Cash at bank and in hand | 54/58 | €42,040 | €5,629 | -€36,411 | -86.6% |
| Deferred charges and accrued income | 490/1 | €2,880 | €3,439 | +€560 | +19.4% |
| Total equity and liabilities | 10/49 | €167,249 | €188,688 | +€21,439 | +12.8% |
| Equity | 10/15 | €146,385 | €160,459 | +€14,073 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €127,785 | €141,859 | +€14,073 | +11.0% |
| Distributable reserves | 133 | €127,785 | €141,859 | +€14,073 | +11.0% |
| Amounts payable | 17/49 | €20,864 | €28,229 | +€7,365 | +35.3% |
| Amounts payable after more than one year | 17 | - | €2,569 | +€2,569 | |
| Financial debts | 170/4 | - | €2,569 | +€2,569 | |
| Amounts payable within one year | 42/48 | €20,864 | €25,660 | +€4,796 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | - | €15,149 | +€15,149 | |
| Trade debts | 44 | €581 | €859 | +€278 | +47.9% |
| Suppliers | 440/4 | €581 | €859 | +€278 | +47.9% |
| Taxes, remuneration and social security | 45 | €19,974 | €9,455 | -€10,520 | -52.7% |
| Taxes | 450/3 | €19,974 | €9,455 | -€10,520 | -52.7% |
| Other amounts payable | 47/48 | €309 | €197 | -€111 | -36.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,333 | €31,536 | +€13,203 | +72.0% |
| Other operating charges | 640/8 | €1,340 | €1,294 | -€47 | -3.5% |
| Gross operating margin | 9900 | €65,425 | €52,046 | -€13,380 | -20.5% |
| Operating profit (loss) | 9901 | €45,752 | €19,216 | -€26,536 | -58.0% |
| Financial income | 75/76B | €2,663 | €2,692 | +€29 | +1.1% |
| Recurring financial income | 75 | €2,663 | €2,692 | +€29 | +1.1% |
| Financial charges | 65/66B | €120 | €669 | +€549 | +457% |
| Recurring financial charges | 65 | €120 | €669 | +€549 | +457% |
| Profit (loss) for the period before taxes | 9903 | €48,295 | €21,239 | -€27,056 | -56.0% |
| Income taxes | 67/77 | €14,552 | €7,165 | -€7,386 | -50.8% |
| Profit (loss) for the period | 9904 | €33,743 | €14,073 | -€19,670 | -58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €33,743 | €14,073 | -€19,670 | -58.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.