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.
TTX Management
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+634.4%), from €318,072 to €2.3m
of which Land and buildings: +€1.4m
- Financial fixed assets +€210,485
up €210,485 (+48.8%), from €431,055 to €641,540
- Cash +€36,383
up €36,383 (+699.2%), from €5,203 to €41,586
mainly Debts after one year (+€1.6m) and Other debts (+€321,349)
- Debts after one year +€1.6m
up €1.6m (+356.8%), from €438,661 to €2.0m
- Other debts +€321,349
up €321,349 (+311.0%), from €103,334 to €424,683
- Trade debts +€185,002
up €185,002 (+822596.2%), from €22 to €185,024
- Current portion of long-term debt +€108,811
up €108,811 (+231.0%), from €47,100 to €155,911
- Short-term financial debts +€100,000
new in 2025: €100,000
- Financial income +€16,358
up €16,358 (+40.9%), from €40,000 to €56,358
of which Financial income: +€10,000
- Financial charges +€15,074
up €15,074 (+50.0%), from €30,172 to €45,246
- Purchases and services -€14,568
no longer reported in 2025 (was €14,568)
- Depreciation +€11,068
new in 2025: €11,068
- Gross operating margin +€11,004
up €11,004, from -€5,478 to €5,526
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 | €756,337 | €3,032,459 | +€2.3m | +300.9% |
| Fixed assets | 21/28 | €749,127 | €2,977,472 | +€2.2m | +297.5% |
| Tangible fixed assets | 22/27 | €318,072 | €2,335,932 | +€2.0m | +634.4% |
| Land and buildings | 22 | €280,000 | €1,644,690 | +€1.4m | +487.4% |
| Plant, machinery and equipment | 23 | - | €664,929 | +€664,929 | |
| Furniture and vehicles | 24 | - | €26,313 | +€26,313 | |
| Assets under construction and advance payments | 27 | €38,072 | - | -€38,072 | |
| Financial fixed assets | 28 | €431,055 | €641,540 | +€210,485 | +48.8% |
| Current assets | 29/58 | €7,209 | €54,987 | +€47,777 | +662.7% |
| Stocks and contracts in progress | 3 | - | €6,534 | +€6,534 | |
| Stocks | 30/36 | - | €6,534 | +€6,534 | |
| Amounts receivable within one year | 40/41 | €1,728 | €1,640 | -€88 | -5.1% |
| Trade receivables | 40 | €1,319 | €1,640 | +€321 | +24.4% |
| Other amounts receivable | 41 | €409 | - | -€409 | |
| Cash at bank and in hand | 54/58 | €5,203 | €41,586 | +€36,383 | +699.2% |
| Deferred charges and accrued income | 490/1 | €278 | €5,227 | +€4,949 | +1780.6% |
| Total equity and liabilities | 10/49 | €756,337 | €3,032,459 | +€2.3m | +300.9% |
| Equity | 10/15 | €163,381 | €151,845 | -€11,535 | -7.1% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,619 | -€48,155 | -€11,535 | -31.5% |
| Amounts payable | 17/49 | €592,956 | €2,880,614 | +€2.3m | +385.8% |
| Amounts payable after more than one year | 17 | €438,661 | €2,003,709 | +€1.6m | +356.8% |
| Financial debts | 170/4 | €438,661 | €2,003,709 | +€1.6m | +356.8% |
| Amounts payable within one year | 42/48 | €152,539 | €871,297 | +€718,757 | +471.2% |
| Current portion of amounts payable after more than one year | 42 | €47,100 | €155,911 | +€108,811 | +231.0% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €22 | €185,024 | +€185,002 | +822596.2% |
| Suppliers | 440/4 | €22 | €185,024 | +€185,002 | +822596.2% |
| Taxes, remuneration and social security | 45 | €2,083 | €5,678 | +€3,595 | +172.6% |
| Taxes | 450/3 | €2,083 | €1,921 | -€162 | -7.8% |
| Remuneration and social security | 454/9 | - | €3,757 | +€3,757 | |
| Other amounts payable | 47/48 | €103,334 | €424,683 | +€321,349 | +311.0% |
| Accrued charges and deferred income | 492/3 | €1,756 | €5,608 | +€3,852 | +219.4% |
| Turnover | 70 | €9,090 | - | -€9,090 | |
| Goods, raw materials, services and sundry goods | 60/61 | €14,568 | - | -€14,568 | |
| Remuneration, social security and pensions | 62 | - | €8,716 | +€8,716 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €11,068 | +€11,068 | |
| Other operating charges | 640/8 | €3,792 | €8,390 | +€4,598 | +121.2% |
| Gross operating margin | 9900 | -€5,478 | €5,526 | +€11,004 | |
| Operating profit (loss) | 9901 | -€9,270 | -€22,648 | -€13,378 | -144.3% |
| Financial income | 75/76B | €40,000 | €56,358 | +€16,358 | +40.9% |
| Recurring financial income | 75 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Non-recurring financial income | 76B | - | €6,358 | +€6,358 | |
| Financial charges | 65/66B | €30,172 | €45,246 | +€15,074 | +50.0% |
| Recurring financial charges | 65 | €30,172 | €45,246 | +€15,074 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | €558 | -€11,535 | -€12,094 | |
| Profit (loss) for the period | 9904 | €558 | -€11,535 | -€12,094 | |
| Profit (loss) for the period to be appropriated | 9905 | €558 | -€11,535 | -€12,094 |
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.