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.
TT HOLDING
Largest movements
- Tangible fixed assets -€222,519
down €222,519 (-24.4%), from €911,371 to €688,852
of which Furniture and vehicles: -€138,250
- Stocks and contracts -€96,701
down €96,701 (-100.0%), from €96,701 to €0
of which Stocks: -€96,701
- Cash -€85,429
down €85,429 (-60.6%), from €140,890 to €55,461
mainly Trade debts (-€186,713) and Short-term financial debts (-€100,955)
- Receivables within one year +€42,491
up €42,491 (+11.2%), from €377,726 to €420,217
of which Other amounts receivable: +€192,615
- Trade debts -€186,713
down €186,713 (-93.0%), from €200,792 to €14,079
- Short-term financial debts -€100,955
down €100,955 (-99.2%), from €101,765 to €810
of which Credit institutions: -€100,701
- Debts after one year -€68,325
down €68,325 (-11.3%), from €604,094 to €535,769
of which Financial debts: -€68,325
- Other debts +€53,481
up €53,481 (+41.6%), from €128,461 to €181,942
- Tax, wage and social debts -€44,477
down €44,477 (-58.9%), from €75,555 to €31,078
of which Remuneration and social security: -€58,839
- Gross operating margin -€260,108
down €260,108 (-35.5%), from €733,618 to €473,510
- Staff costs -€183,395
down €183,395 (-43.8%), from €418,569 to €235,174
- Depreciation -€42,105
down €42,105 (-38.2%), from €110,315 to €68,210
- Taxes -€15,408
down €15,408 (-39.2%), from €39,292 to €23,883
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 | €1,541,575 | €1,175,358 | -€366,217 | -23.8% |
| Fixed assets | 21/28 | €914,551 | €692,032 | -€222,519 | -24.3% |
| Tangible fixed assets | 22/27 | €911,371 | €688,852 | -€222,519 | -24.4% |
| Land and buildings | 22 | €633,880 | €605,046 | -€28,834 | -4.5% |
| Plant, machinery and equipment | 23 | €40,270 | €0 | -€40,270 | -100.0% |
| Furniture and vehicles | 24 | €188,136 | €49,885 | -€138,250 | -73.5% |
| Leasing and similar rights | 25 | €49,085 | €33,921 | -€15,164 | -30.9% |
| Financial fixed assets | 28 | €3,180 | €3,180 | = | 0.0% |
| Current assets | 29/58 | €627,024 | €483,326 | -€143,698 | -22.9% |
| Stocks and contracts in progress | 3 | €96,701 | €0 | -€96,701 | -100.0% |
| Stocks | 30/36 | €96,701 | €0 | -€96,701 | -100.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €377,726 | €420,217 | +€42,491 | +11.2% |
| Trade receivables | 40 | €318,467 | €168,343 | -€150,124 | -47.1% |
| Other amounts receivable | 41 | €59,259 | €251,874 | +€192,615 | +325.0% |
| Current investments | 50/53 | €1,000 | €1,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €140,890 | €55,461 | -€85,429 | -60.6% |
| Deferred charges and accrued income | 490/1 | €10,707 | €6,648 | -€4,059 | -37.9% |
| Total equity and liabilities | 10/49 | €1,541,575 | €1,175,358 | -€366,217 | -23.8% |
| Equity | 10/15 | €362,644 | €343,354 | -€19,290 | -5.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €344,094 | €324,804 | -€19,290 | -5.6% |
| Distributable reserves | 133 | €344,094 | €324,804 | -€19,290 | -5.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,178,931 | €832,004 | -€346,927 | -29.4% |
| Amounts payable after more than one year | 17 | €604,094 | €535,769 | -€68,325 | -11.3% |
| Financial debts | 170/4 | €524,094 | €455,769 | -€68,325 | -13.0% |
| Other amounts payable | 178/9 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €574,837 | €296,235 | -€278,602 | -48.5% |
| Current portion of amounts payable after more than one year | 42 | €68,264 | €68,325 | +€61 | +0.1% |
| Financial debts | 43 | €101,765 | €810 | -€100,955 | -99.2% |
| Credit institutions | 430/8 | €101,441 | €740 | -€100,701 | -99.3% |
| Other loans | 439 | €324 | €70 | -€254 | -78.4% |
| Trade debts | 44 | €200,792 | €14,079 | -€186,713 | -93.0% |
| Suppliers | 440/4 | €200,792 | €14,079 | -€186,713 | -93.0% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €75,555 | €31,078 | -€44,477 | -58.9% |
| Taxes | 450/3 | €13,091 | €27,453 | +€14,362 | +109.7% |
| Remuneration and social security | 454/9 | €62,464 | €3,625 | -€58,839 | -94.2% |
| Other amounts payable | 47/48 | €128,461 | €181,942 | +€53,481 | +41.6% |
| Remuneration, social security and pensions | 62 | €418,569 | €235,174 | -€183,395 | -43.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,315 | €68,210 | -€42,105 | -38.2% |
| Other operating charges | 640/8 | €10,804 | €10,169 | -€635 | -5.9% |
| Non-recurring operating charges | 66A | €1,486 | €20,619 | +€19,133 | +1287.7% |
| Gross operating margin | 9900 | €733,618 | €473,510 | -€260,108 | -35.5% |
| Operating profit (loss) | 9901 | €192,444 | €139,338 | -€53,106 | -27.6% |
| Financial income | 75/76B | €4,176 | €4,913 | +€737 | +17.7% |
| Recurring financial income | 75 | €4,176 | €4,913 | +€737 | +17.7% |
| Financial charges | 65/66B | €34,944 | €39,657 | +€4,713 | +13.5% |
| Recurring financial charges | 65 | €34,944 | €39,657 | +€4,713 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €161,675 | €104,593 | -€57,081 | -35.3% |
| Income taxes | 67/77 | €39,292 | €23,883 | -€15,408 | -39.2% |
| Profit (loss) for the period | 9904 | €122,383 | €80,710 | -€41,673 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €122,383 | €80,710 | -€41,673 | -34.1% |
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 27 September 2026 via checked.be.