TVRN: what changed
What changed
TVRN
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
€91,416
2024 · €65,126+€26,290
Equity
€41,920
2024 · €150,504-€108,584
Cash
€152,579
2024 · €47,637+€104,942
Balance sheet total
€385,513
2024 · €299,927+€85,586
Largest movements
Assets
- Cash +€104,942
up €104,942 (+220%), from €47,637 to €152,579
mainly Other debts (+€154,320) and Net result for the year (+€91,416)
- Receivables within one year -€17,314
down €17,314 (-27.5%), from €62,863 to €45,549
of which Trade receivables: -€18,603
Equity and liabilities
- Other debts +€154,320
up €154,320 (+118%), from €131,165 to €285,485
- Profit (loss) carried forward -€108,584
down €108,584 (-79.7%), from €136,244 to €27,660
- Tax, wage and social debts +€43,911
up €43,911 (+840%), from €5,225 to €49,136
- Debts after one year -€3,885
down €3,885 (-100%), from €3,885 to €0
Income statement
- Gross operating margin +€32,345
up €32,345 (+33.8%), from €95,738 to €128,083
- Taxes +€7,864
up €7,864 (+35.0%), from €22,443 to €30,307
- Financial income +€4,518
up €4,518 (+240%), from €1,885 to €6,403
- Financial charges +€3,278
up €3,278 (+41.4%), from €7,920 to €11,199
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.
Result 2024
€65,126
Gross operating margin
+€32,345
Depreciation
+€844
Other operating charges
-€154
Other operating items
-€120
Financial income
+€4,518
Financial charges
-€3,278
Taxes
-€7,864
Result 2025
€91,416
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€308,530
Investment
+€1,033
Financing
-€204,620
Cash 2024
€47,637
From operations (derived)
+€308,530
Net result for the year
+€91,416
Depreciation
+€834
Receivables within one year
+€17,314
Deferred charges and accrued income
+€174
Trade debts
+€560
Tax, wage and social debts
+€43,911
Other debts
+€154,320
Investment (derived)
+€1,033
Investment in fixed assets (net)
+€1,033
Financing
-€204,620
Debts after one year
-€3,885
Current portion of long-term debt
-€735
Contributions, distributions and other
-€200,000
Cash 2025
€152,579
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €299,927 | €385,513 | +€85,586 | +28.5% |
| Fixed assets | 21/28 | €88,751 | €86,883 | -€1,867 | -2.1% |
| Tangible fixed assets | 22/27 | €2,517 | €3,661 | +€1,144 | +45.5% |
| Furniture and vehicles | 24 | €2,517 | €3,661 | +€1,144 | +45.5% |
| Financial fixed assets | 28 | €86,234 | €83,223 | -€3,011 | -3.5% |
| Current assets | 29/58 | €211,176 | €298,630 | +€87,454 | +41.4% |
| Amounts receivable within one year | 40/41 | €62,863 | €45,549 | -€17,314 | -27.5% |
| Trade receivables | 40 | €61,816 | €43,214 | -€18,603 | -30.1% |
| Other amounts receivable | 41 | €1,047 | €2,335 | +€1,288 | +123% |
| Current investments | 50/53 | €99,999 | €99,999 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,637 | €152,579 | +€104,942 | +220% |
| Deferred charges and accrued income | 490/1 | €677 | €503 | -€174 | -25.7% |
| Total equity and liabilities | 10/49 | €299,927 | €385,513 | +€85,586 | +28.5% |
| Equity | 10/15 | €150,504 | €41,920 | -€108,584 | -72.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,244 | €27,660 | -€108,584 | -79.7% |
| Amounts payable | 17/49 | €149,423 | €343,593 | +€194,170 | +130% |
| Amounts payable after more than one year | 17 | €3,885 | €0 | -€3,885 | -100% |
| Financial debts | 170/4 | €3,885 | €0 | -€3,885 | -100% |
| Amounts payable within one year | 42/48 | €145,538 | €343,593 | +€198,055 | +136% |
| Current portion of amounts payable after more than one year | 42 | €6,936 | €6,201 | -€735 | -10.6% |
| Trade debts | 44 | €2,211 | €2,771 | +€560 | +25.3% |
| Suppliers | 440/4 | €2,211 | €2,771 | +€560 | +25.3% |
| Taxes, remuneration and social security | 45 | €5,225 | €49,136 | +€43,911 | +840% |
| Taxes | 450/3 | €5,225 | €49,136 | +€43,911 | +840% |
| Other amounts payable | 47/48 | €131,165 | €285,485 | +€154,320 | +118% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,678 | €834 | -€844 | -50.3% |
| Other operating charges | 640/8 | €455 | €610 | +€154 | +33.9% |
| Non-recurring operating charges | 66A | - | €120 | +€120 | |
| Gross operating margin | 9900 | €95,738 | €128,083 | +€32,345 | +33.8% |
| Operating profit (loss) | 9901 | €93,604 | €126,519 | +€32,914 | +35.2% |
| Financial income | 75/76B | €1,885 | €6,403 | +€4,518 | +240% |
| Recurring financial income | 75 | €1,885 | €6,403 | +€4,518 | +240% |
| Financial charges | 65/66B | €7,920 | €11,199 | +€3,278 | +41.4% |
| Recurring financial charges | 65 | €7,920 | €11,199 | +€3,278 | +41.4% |
| Profit (loss) for the period before taxes | 9903 | €87,569 | €121,723 | +€34,154 | +39.0% |
| Income taxes | 67/77 | €22,443 | €30,307 | +€7,864 | +35.0% |
| Profit (loss) for the period | 9904 | €65,126 | €91,416 | +€26,290 | +40.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,126 | €91,416 | +€26,290 | +40.4% |
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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 4 November 2026 via checked.be.