TZVW: 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.
TZVW
Largest movements
- Receivables within one year +€10,054
up €10,054 (+60.9%), from €16,520 to €26,575
of which Trade receivables: +€11,422
- Tangible fixed assets +€4,551
up €4,551 (+285%), from €1,597 to €6,148
of which Furniture and vehicles: +€4,643
- Cash +€2,126
up €2,126 (+69.5%), from €3,060 to €5,186
mainly Net result for the year (+€22,962) and Tax, wage and social debts (+€1,910)
- Profit (loss) carried forward +€22,962
up €22,962, from -€21,917 to €1,045
- Trade debts -€8,039
down €8,039 (-54.0%), from €14,886 to €6,847
- Tax, wage and social debts +€1,910
up €1,910 (+10.9%), from €17,538 to €19,448
- Financial charges -€12,132
down €12,132 (-75.5%), from €16,074 to €3,942
- Gross operating margin +€9,680
up €9,680 (+39.3%), from €24,604 to €34,284
- Taxes +€5,500
new in 2025: €5,500
- Depreciation +€877
up €877 (+950%), from €92 to €969
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 | €21,328 | €38,179 | +€16,851 | +79.0% |
| Fixed assets | 21/28 | €1,747 | €6,298 | +€4,551 | +260% |
| Tangible fixed assets | 22/27 | €1,597 | €6,148 | +€4,551 | +285% |
| Land and buildings | 22 | €1,597 | €1,505 | -€92 | -5.8% |
| Furniture and vehicles | 24 | - | €4,643 | +€4,643 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €19,581 | €31,881 | +€12,301 | +62.8% |
| Stocks and contracts in progress | 3 | - | €3 | +€3 | |
| Stocks | 30/36 | - | €3 | +€3 | |
| Amounts receivable within one year | 40/41 | €16,520 | €26,575 | +€10,054 | +60.9% |
| Trade receivables | 40 | €14,718 | €26,140 | +€11,422 | +77.6% |
| Other amounts receivable | 41 | €1,803 | €435 | -€1,368 | -75.9% |
| Cash at bank and in hand | 54/58 | €3,060 | €5,186 | +€2,126 | +69.5% |
| Deferred charges and accrued income | 490/1 | - | €117 | +€117 | |
| Total equity and liabilities | 10/49 | €21,328 | €38,179 | +€16,851 | +79.0% |
| Equity | 10/15 | -€11,097 | €11,865 | +€22,962 | |
| Contributions | 10/11 | €10,820 | €10,820 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,917 | €1,045 | +€22,962 | |
| Amounts payable | 17/49 | €32,425 | €26,314 | -€6,111 | -18.8% |
| Amounts payable within one year | 42/48 | €32,425 | €26,314 | -€6,111 | -18.8% |
| Trade debts | 44 | €14,886 | €6,847 | -€8,039 | -54.0% |
| Suppliers | 440/4 | €14,886 | €6,847 | -€8,039 | -54.0% |
| Taxes, remuneration and social security | 45 | €17,538 | €19,448 | +€1,910 | +10.9% |
| Taxes | 450/3 | €17,538 | €19,448 | +€1,910 | +10.9% |
| Other amounts payable | 47/48 | - | €19 | +€19 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92 | €969 | +€877 | +950% |
| Other operating charges | 640/8 | €1,170 | €911 | -€259 | -22.1% |
| Gross operating margin | 9900 | €24,604 | €34,284 | +€9,680 | +39.3% |
| Operating profit (loss) | 9901 | €23,342 | €32,404 | +€9,062 | +38.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €16,074 | €3,942 | -€12,132 | -75.5% |
| Recurring financial charges | 65 | €16,074 | €3,942 | -€12,132 | -75.5% |
| Profit (loss) for the period before taxes | 9903 | €7,268 | €28,462 | +€21,194 | +292% |
| Income taxes | 67/77 | - | €5,500 | +€5,500 | |
| Profit (loss) for the period | 9904 | €7,268 | €22,962 | +€15,694 | +216% |
| Profit (loss) for the period to be appropriated | 9905 | €7,268 | €22,962 | +€15,694 | +216% |
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 16 October 2026 via checked.be.