TCV SERVICES: 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.
TCV SERVICES
Largest movements
- Cash +€132,943
up €132,943 (+620%), from €21,431 to €154,373
mainly Receivables within one year (+€89,121) and Net result for the year (+€48,515)
- Receivables within one year -€89,121
down €89,121 (-44.9%), from €198,630 to €109,509
of which Other amounts receivable: -€112,111
- Reserves +€48,515
up €48,515 (+20.0%), from €242,820 to €291,336
- Other debts -€25,715
down €25,715 (-87.8%), from €29,274 to €3,558
- Tax, wage and social debts +€20,214
up €20,214 (+3,409%), from €593 to €20,807
of which Taxes: +€17,368
- Gross operating margin +€47,755
up €47,755, from -€16,914 to €30,842
- Financial income -€20,809
down €20,809 (-38.8%), from €53,667 to €32,858
- Taxes +€11,663
new in 2025: €11,663
- Depreciation -€7,957
down €7,957 (-98.8%), from €8,050 to €94
- Financial charges +€570
up €570 (+78.6%), from €725 to €1,294
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 | €277,147 | €320,015 | +€42,868 | +15.5% |
| Fixed assets | 21/28 | €2,954 | €2,000 | -€954 | -32.3% |
| Tangible fixed assets | 22/27 | €954 | - | -€954 | |
| Plant, machinery and equipment | 23 | €94 | - | -€94 | |
| Furniture and vehicles | 24 | €860 | - | -€860 | |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €274,193 | €318,015 | +€43,822 | +16.0% |
| Amounts receivable within one year | 40/41 | €198,630 | €109,509 | -€89,121 | -44.9% |
| Trade receivables | 40 | - | €22,990 | +€22,990 | |
| Other amounts receivable | 41 | €198,630 | €86,519 | -€112,111 | -56.4% |
| Current investments | 50/53 | €54,133 | €54,133 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €21,431 | €154,373 | +€132,943 | +620% |
| Total equity and liabilities | 10/49 | €277,147 | €320,015 | +€42,868 | +15.5% |
| Equity | 10/15 | €244,820 | €293,336 | +€48,515 | +19.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €242,820 | €291,336 | +€48,515 | +20.0% |
| Distributable reserves | 133 | €242,820 | €291,336 | +€48,515 | +20.0% |
| Amounts payable | 17/49 | €32,326 | €26,679 | -€5,648 | -17.5% |
| Amounts payable within one year | 42/48 | €32,326 | €26,679 | -€5,648 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €1,535 | - | -€1,535 | |
| Trade debts | 44 | €925 | €2,314 | +€1,389 | +150% |
| Suppliers | 440/4 | €925 | €2,314 | +€1,389 | +150% |
| Taxes, remuneration and social security | 45 | €593 | €20,807 | +€20,214 | +3,409% |
| Taxes | 450/3 | - | €17,368 | +€17,368 | |
| Remuneration and social security | 454/9 | €593 | €3,439 | +€2,846 | +480% |
| Other amounts payable | 47/48 | €29,274 | €3,558 | -€25,715 | -87.8% |
| Non-recurring operating income | 76A | - | €10,828 | +€10,828 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,050 | €94 | -€7,957 | -98.8% |
| Other operating charges | 640/8 | €1,678 | €2,133 | +€456 | +27.2% |
| Gross operating margin | 9900 | -€16,914 | €30,842 | +€47,755 | |
| Operating profit (loss) | 9901 | -€26,642 | €28,615 | +€55,256 | |
| Financial income | 75/76B | €53,667 | €32,858 | -€20,809 | -38.8% |
| Recurring financial income | 75 | €53,667 | €32,858 | -€20,809 | -38.8% |
| Financial charges | 65/66B | €725 | €1,294 | +€570 | +78.6% |
| Recurring financial charges | 65 | €725 | €1,294 | +€570 | +78.6% |
| Profit (loss) for the period before taxes | 9903 | €26,300 | €60,178 | +€33,878 | +129% |
| Income taxes | 67/77 | - | €11,663 | +€11,663 | |
| Profit (loss) for the period | 9904 | €26,300 | €48,515 | +€22,215 | +84.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,300 | €48,515 | +€22,215 | +84.5% |
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 13 October 2026 via checked.be.