TX 3: what changed
TX 3
Largest movements
- Receivables within one year +€42,466
up €42,466 (+236%), from €17,992 to €60,459
of which Trade receivables: +€40,126
- Deferred charges and accrued income -€37,824
down €37,824 (-94.1%), from €40,209 to €2,385
- Tangible fixed assets -€28,167
down €28,167 (-8.4%), from €334,722 to €306,555
of which Furniture and vehicles: -€16,874
- Stocks and contracts +€22,622
up €22,622 (+8.2%), from €274,513 to €297,135
- Cash -€19,861
down €19,861 (-55.0%), from €36,079 to €16,218
mainly Receivables within one year (-€42,466) and Trade debts (-€29,977)
- Trade debts -€29,977
down €29,977 (-31.3%), from €95,907 to €65,929
- Debts after one year -€28,405
down €28,405 (-8.4%), from €338,947 to €310,541
- Other debts +€23,599
up €23,599 (+41.1%), from €57,436 to €81,035
- Tax, wage and social debts +€23,582
up €23,582 (+2,774%), from €850 to €24,432
- Current portion of long-term debt -€10,825
down €10,825 (-27.6%), from €39,230 to €28,405
- Gross operating margin -€25,748
down €25,748 (-32.1%), from €80,212 to €54,464
- Depreciation -€23,175
down €23,175 (-43.4%), from €53,393 to €30,218
- Financial charges -€2,297
down €2,297 (-10.9%), from €21,051 to €18,754
- Taxes -€850
no longer reported in 2025 (was €850)
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 | €704,303 | €683,540 | -€20,764 | -2.9% |
| Fixed assets | 21/28 | €335,510 | €307,343 | -€28,167 | -8.4% |
| Tangible fixed assets | 22/27 | €334,722 | €306,555 | -€28,167 | -8.4% |
| Land and buildings | 22 | €232,840 | €228,223 | -€4,617 | -2.0% |
| Plant, machinery and equipment | 23 | €26,756 | €20,080 | -€6,676 | -25.0% |
| Furniture and vehicles | 24 | €75,126 | €58,252 | -€16,874 | -22.5% |
| Financial fixed assets | 28 | €787 | €787 | = | 0.0% |
| Current assets | 29/58 | €368,794 | €376,197 | +€7,403 | +2.0% |
| Stocks and contracts in progress | 3 | €274,513 | €297,135 | +€22,622 | +8.2% |
| Stocks | 30/36 | €274,513 | €297,135 | +€22,622 | +8.2% |
| Amounts receivable within one year | 40/41 | €17,992 | €60,459 | +€42,466 | +236% |
| Trade receivables | 40 | €17,969 | €58,095 | +€40,126 | +223% |
| Other amounts receivable | 41 | €23 | €2,364 | +€2,341 | +10,116% |
| Cash at bank and in hand | 54/58 | €36,079 | €16,218 | -€19,861 | -55.0% |
| Deferred charges and accrued income | 490/1 | €40,209 | €2,385 | -€37,824 | -94.1% |
| Total equity and liabilities | 10/49 | €704,303 | €683,540 | -€20,764 | -2.9% |
| Equity | 10/15 | €171,934 | €172,653 | +€718 | +0.4% |
| Contributions | 10/11 | €115,000 | €115,000 | = | 0.0% |
| Reserves | 13 | €56,934 | €57,653 | +€718 | +1.3% |
| Distributable reserves | 133 | €56,934 | €57,653 | +€718 | +1.3% |
| Amounts payable | 17/49 | €532,369 | €510,887 | -€21,482 | -4.0% |
| Amounts payable after more than one year | 17 | €338,947 | €310,541 | -€28,405 | -8.4% |
| Financial debts | 170/4 | €338,947 | €310,541 | -€28,405 | -8.4% |
| Amounts payable within one year | 42/48 | €193,423 | €200,346 | +€6,923 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €39,230 | €28,405 | -€10,825 | -27.6% |
| Financial debts | 43 | - | €544 | +€544 | |
| Other loans | 439 | - | €544 | +€544 | |
| Trade debts | 44 | €95,907 | €65,929 | -€29,977 | -31.3% |
| Suppliers | 440/4 | €95,907 | €65,929 | -€29,977 | -31.3% |
| Taxes, remuneration and social security | 45 | €850 | €24,432 | +€23,582 | +2,774% |
| Taxes | 450/3 | €850 | €24,432 | +€23,582 | +2,774% |
| Other amounts payable | 47/48 | €57,436 | €81,035 | +€23,599 | +41.1% |
| Non-recurring operating income | 76A | €8,000 | - | -€8,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,393 | €30,218 | -€23,175 | -43.4% |
| Other operating charges | 640/8 | €5,355 | €5,841 | +€487 | +9.1% |
| Gross operating margin | 9900 | €80,212 | €54,464 | -€25,748 | -32.1% |
| Operating profit (loss) | 9901 | €21,464 | €18,404 | -€3,060 | -14.3% |
| Financial income | 75/76B | €1,000 | €1,069 | +€68 | +6.8% |
| Recurring financial income | 75 | €1,000 | €1,069 | +€68 | +6.8% |
| Financial charges | 65/66B | €21,051 | €18,754 | -€2,297 | -10.9% |
| Recurring financial charges | 65 | €21,051 | €18,754 | -€2,297 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €1,414 | €718 | -€695 | -49.2% |
| Income taxes | 67/77 | €850 | - | -€850 | |
| Profit (loss) for the period | 9904 | €564 | €718 | +€155 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €564 | €718 | +€155 | +27.4% |
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 1 November 2026 via checked.be.