TXD: 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.
TXD
Largest movements
- Receivables within one year -€76,360
down €76,360 (-37.4%), from €204,298 to €127,938
of which Trade receivables: -€83,423
- Tangible fixed assets +€49,736
up €49,736 (+270.3%), from €18,399 to €68,135
of which Land and buildings: +€30,536
- Deferred charges and accrued income +€32,595
up €32,595 (+5843.5%), from €558 to €33,153
- Cash -€4,049
down €4,049 (-84.4%), from €4,800 to €750
mainly Net result for the year (-€86,620) and Investment in fixed assets (net) (-€59,387)
- Reserves -€86,620
down €86,620 (-92.6%), from €93,541 to €6,921
- Short-term financial debts +€74,579
new in 2025: €74,579
- Trade debts -€47,887
down €47,887 (-47.3%), from €101,288 to €53,401
- Tax, wage and social debts +€39,001
up €39,001 (+88.0%), from €44,338 to €83,339
of which Remuneration and social security: +€34,594
- Other debts +€22,848
up €22,848 (+498.0%), from €4,588 to €27,436
- Staff costs +€178,058
up €178,058 (+469.9%), from €37,893 to €215,950
- Taxes -€27,087
down €27,087 (-98.9%), from €27,377 to €291
- Gross operating margin -€11,849
down €11,849 (-7.3%), from €162,477 to €150,627
- Depreciation +€9,466
up €9,466 (+5099.4%), from €186 to €9,651
- Other operating charges +€6,121
up €6,121 (+185.4%), from €3,302 to €9,422
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 | €246,755 | €248,676 | +€1,922 | +0.8% |
| Fixed assets | 21/28 | €37,099 | €86,835 | +€49,736 | +134.1% |
| Tangible fixed assets | 22/27 | €18,399 | €68,135 | +€49,736 | +270.3% |
| Land and buildings | 22 | €9,984 | €40,520 | +€30,536 | +305.9% |
| Plant, machinery and equipment | 23 | €7,192 | €8,640 | +€1,448 | +20.1% |
| Furniture and vehicles | 24 | €1,224 | €18,976 | +€17,752 | +1450.6% |
| Financial fixed assets | 28 | €18,700 | €18,700 | = | 0.0% |
| Current assets | 29/58 | €209,655 | €161,841 | -€47,814 | -22.8% |
| Amounts receivable within one year | 40/41 | €204,298 | €127,938 | -€76,360 | -37.4% |
| Trade receivables | 40 | €200,342 | €116,919 | -€83,423 | -41.6% |
| Other amounts receivable | 41 | €3,955 | €11,019 | +€7,064 | +178.6% |
| Cash at bank and in hand | 54/58 | €4,800 | €750 | -€4,049 | -84.4% |
| Deferred charges and accrued income | 490/1 | €558 | €33,153 | +€32,595 | +5843.5% |
| Total equity and liabilities | 10/49 | €246,755 | €248,676 | +€1,922 | +0.8% |
| Equity | 10/15 | €96,541 | €9,921 | -€86,620 | -89.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €93,541 | €6,921 | -€86,620 | -92.6% |
| Distributable reserves | 133 | €93,541 | €6,921 | -€86,620 | -92.6% |
| Amounts payable | 17/49 | €150,214 | €238,755 | +€88,541 | +58.9% |
| Amounts payable within one year | 42/48 | €150,214 | €238,755 | +€88,541 | +58.9% |
| Financial debts | 43 | - | €74,579 | +€74,579 | |
| Credit institutions | 430/8 | - | €74,579 | +€74,579 | |
| Trade debts | 44 | €101,288 | €53,401 | -€47,887 | -47.3% |
| Suppliers | 440/4 | €101,288 | €53,401 | -€47,887 | -47.3% |
| Taxes, remuneration and social security | 45 | €44,338 | €83,339 | +€39,001 | +88.0% |
| Taxes | 450/3 | €38,696 | €43,103 | +€4,407 | +11.4% |
| Remuneration and social security | 454/9 | €5,642 | €40,236 | +€34,594 | +613.1% |
| Other amounts payable | 47/48 | €4,588 | €27,436 | +€22,848 | +498.0% |
| Remuneration, social security and pensions | 62 | €37,893 | €215,950 | +€178,058 | +469.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186 | €9,651 | +€9,466 | +5099.4% |
| Other operating charges | 640/8 | €3,302 | €9,422 | +€6,121 | +185.4% |
| Non-recurring operating charges | 66A | €73 | €0 | -€73 | -100.0% |
| Gross operating margin | 9900 | €162,477 | €150,627 | -€11,849 | -7.3% |
| Operating profit (loss) | 9901 | €121,024 | -€84,396 | -€205,420 | |
| Financial income | 75/76B | €6 | €260 | +€254 | +4562.7% |
| Recurring financial income | 75 | €6 | €260 | +€254 | +4562.7% |
| Financial charges | 65/66B | €112 | €2,193 | +€2,081 | +1864.5% |
| Recurring financial charges | 65 | €112 | €2,193 | +€2,081 | +1864.5% |
| Profit (loss) for the period before taxes | 9903 | €120,918 | -€86,329 | -€207,247 | |
| Income taxes | 67/77 | €27,377 | €291 | -€27,087 | -98.9% |
| Profit (loss) for the period | 9904 | €93,541 | -€86,620 | -€180,160 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,541 | -€86,620 | -€180,160 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.