TVX: 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.
What changed
TVX
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€569,233
2024 · €322,626+€246,607
Equity
€2.0m
2024 · €1.8m+€176,976
Cash
€250,057
2024 · €123,891+€126,166
Balance sheet total
€5.9m
2024 · €6.0m-€92,997
Largest movements
Assets
- Tangible fixed assets -€208,470
down €208,470 (-5.6%), from €3.7m to €3.5m
- Stocks and contracts +€182,471
up €182,471 (+706.6%), from €25,825 to €208,296
- Receivables after one year -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Cash +€126,166
up €126,166 (+101.8%), from €123,891 to €250,057
mainly Depreciation (+€1.3m) and Net result for the year (+€569,233)
Equity and liabilities
- Other debts -€425,206
down €425,206 (-100.0%), from €425,206 to €0
- Trade debts +€334,516
up €334,516 (+86.8%), from €385,370 to €719,885
- Reserves +€176,976
up €176,976 (+9.9%), from €1.8m to €2.0m
- Short-term financial debts -€161,726
down €161,726 (-94.7%), from €170,726 to €9,000
- Debts after one year -€115,536
down €115,536 (-6.2%), from €1.9m to €1.7m
Income statement
- Gross operating margin +€799,908
up €799,908 (+12.0%), from €6.6m to €7.4m
- Depreciation +€206,990
up €206,990 (+19.5%), from €1.1m to €1.3m
- Staff costs +€192,278
up €192,278 (+4.7%), from €4.1m to €4.3m
- Taxes +€162,570
up €162,570 (+175.3%), from €92,760 to €255,330
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.
Result 2024
€322,626
Gross operating margin
+€799,908
Staff costs
-€192,278
Depreciation
-€206,990
Write-downs
+€62,690
Other operating charges
-€55,618
Other operating items
+€47,784
Financial income
-€10,149
Financial charges
-€36,170
Taxes
-€162,570
Result 2025
€569,233
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.
From operations
+€1.8m
Investment
-€1.1m
Financing
-€604,627
Cash 2024
€123,891
From operations (derived)
+€1.8m
Net result for the year
+€569,233
Depreciation
+€1.3m
Receivables after one year
+€150,000
Stocks and contracts
-€182,471
Receivables within one year
+€29,753
Deferred charges and accrued income
+€13,411
Trade debts
+€334,516
Tax, wage and social debts
+€31,981
Other debts
-€425,206
Accrued charges and deferred income
+€1,106
Investment (derived)
-€1.1m
Investment in fixed assets (net)
-€1.1m
Financing
-€604,627
Debts after one year
-€115,536
Current portion of long-term debt
+€64,892
Short-term financial debts
-€161,726
Contributions, distributions and other
-€392,257
Cash 2025
€250,057
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,966,944 | €5,873,947 | -€92,997 | -1.6% |
| Fixed assets | 21/28 | €3,710,522 | €3,502,052 | -€208,470 | -5.6% |
| Tangible fixed assets | 22/27 | €3,700,404 | €3,491,935 | -€208,470 | -5.6% |
| Land and buildings | 22 | €498,645 | €460,274 | -€38,371 | -7.7% |
| Plant, machinery and equipment | 23 | €148,288 | €156,103 | +€7,815 | +5.3% |
| Furniture and vehicles | 24 | €523,257 | €423,841 | -€99,416 | -19.0% |
| Leasing and similar rights | 25 | €2,530,214 | €2,451,716 | -€78,498 | -3.1% |
| Financial fixed assets | 28 | €10,118 | €10,118 | = | 0.0% |
| Current assets | 29/58 | €2,256,422 | €2,371,895 | +€115,473 | +5.1% |
| Amounts receivable after more than one year | 29 | €150,000 | €0 | -€150,000 | -100.0% |
| Other amounts receivable | 291 | €150,000 | €0 | -€150,000 | -100.0% |
| Stocks and contracts in progress | 3 | €25,825 | €208,296 | +€182,471 | +706.6% |
| Stocks | 30/36 | €25,825 | €208,296 | +€182,471 | +706.6% |
| Amounts receivable within one year | 40/41 | €1,901,984 | €1,872,231 | -€29,753 | -1.6% |
| Trade receivables | 40 | €1,444,688 | €1,816,917 | +€372,229 | +25.8% |
| Other amounts receivable | 41 | €457,297 | €55,314 | -€401,982 | -87.9% |
| Cash at bank and in hand | 54/58 | €123,891 | €250,057 | +€126,166 | +101.8% |
| Deferred charges and accrued income | 490/1 | €54,721 | €41,310 | -€13,411 | -24.5% |
| Total equity and liabilities | 10/49 | €5,966,944 | €5,873,947 | -€92,997 | -1.6% |
| Equity | 10/15 | €1,785,234 | €1,962,210 | +€176,976 | +9.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,779,034 | €1,956,010 | +€176,976 | +9.9% |
| Distributable reserves | 133 | €1,779,034 | €1,956,010 | +€176,976 | +9.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,181,710 | €3,911,737 | -€269,972 | -6.5% |
| Amounts payable after more than one year | 17 | €1,859,635 | €1,744,098 | -€115,536 | -6.2% |
| Financial debts | 170/4 | €1,859,635 | €1,744,098 | -€115,536 | -6.2% |
| Amounts payable within one year | 42/48 | €2,321,706 | €2,166,164 | -€155,542 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €901,601 | €966,494 | +€64,892 | +7.2% |
| Financial debts | 43 | €170,726 | €9,000 | -€161,726 | -94.7% |
| Credit institutions | 430/8 | €170,726 | €9,000 | -€161,726 | -94.7% |
| Trade debts | 44 | €385,370 | €719,885 | +€334,516 | +86.8% |
| Suppliers | 440/4 | €385,370 | €719,885 | +€334,516 | +86.8% |
| Taxes, remuneration and social security | 45 | €438,803 | €470,785 | +€31,981 | +7.3% |
| Taxes | 450/3 | €3,924 | €55,445 | +€51,521 | +1313.1% |
| Remuneration and social security | 454/9 | €434,880 | €415,340 | -€19,540 | -4.5% |
| Other amounts payable | 47/48 | €425,206 | €0 | -€425,206 | -100.0% |
| Accrued charges and deferred income | 492/3 | €369 | €1,475 | +€1,106 | +299.6% |
| Non-recurring operating income | 76A | €89,342 | €236,304 | +€146,962 | +164.5% |
| Remuneration, social security and pensions | 62 | €4,086,857 | €4,279,135 | +€192,278 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,061,176 | €1,268,166 | +€206,990 | +19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €62,690 | €0 | -€62,690 | -100.0% |
| Other operating charges | 640/8 | €901,810 | €957,427 | +€55,618 | +6.2% |
| Non-recurring operating charges | 66A | €47,936 | €153 | -€47,784 | -99.7% |
| Gross operating margin | 9900 | €6,645,561 | €7,445,469 | +€799,908 | +12.0% |
| Operating profit (loss) | 9901 | €485,092 | €940,588 | +€455,496 | +93.9% |
| Financial income | 75/76B | €17,510 | €7,361 | -€10,149 | -58.0% |
| Recurring financial income | 75 | €17,510 | €7,361 | -€10,149 | -58.0% |
| Financial charges | 65/66B | €87,217 | €123,386 | +€36,170 | +41.5% |
| Recurring financial charges | 65 | €87,217 | €123,386 | +€36,170 | +41.5% |
| Profit (loss) for the period before taxes | 9903 | €415,385 | €824,563 | +€409,178 | +98.5% |
| Income taxes | 67/77 | €92,760 | €255,330 | +€162,570 | +175.3% |
| Profit (loss) for the period | 9904 | €322,626 | €569,233 | +€246,607 | +76.4% |
| Profit (loss) for the period to be appropriated | 9905 | €322,626 | €569,233 | +€246,607 | +76.4% |
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 6 October 2026 via checked.be.