Groep Tsjoen: 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.
Groep Tsjoen
Largest movements
- Tangible fixed assets -€154,237
down €154,237 (-29.4%), from €524,720 to €370,483
of which Furniture and vehicles: -€96,702
- Stocks and contracts +€76,537
up €76,537 (+29.9%), from €256,318 to €332,855
of which Stocks: +€51,257
- Receivables within one year -€76,429
down €76,429 (-48.0%), from €159,201 to €82,772
of which Trade receivables: -€71,866
- Cash -€75,685
down €75,685 (-48.9%), from €154,659 to €78,974
mainly Debts after one year (-€174,846) and Stocks and contracts (-€76,537)
- Debts after one year -€174,846
down €174,846 (-28.5%), from €614,090 to €439,244
- Tax, wage and social debts -€33,198
down €33,198 (-60.2%), from €55,129 to €21,931
of which Taxes: -€20,134
- Current portion of long-term debt -€16,744
down €16,744 (-29.6%), from €56,590 to €39,846
- Staff costs +€36,034
up €36,034 (+5.8%), from €618,262 to €654,297
- Taxes -€15,485
down €15,485 (-57.9%), from €26,755 to €11,269
- Gross operating margin -€13,756
down €13,756 (-1.6%), from €864,296 to €850,539
- Depreciation +€13,701
up €13,701 (+7.9%), from €173,725 to €187,426
- Other operating charges -€9,495
down €9,495 (-82.9%), from €11,451 to €1,955
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 | €1,135,061 | €898,388 | -€236,673 | -20.9% |
| Fixed assets | 21/28 | €534,854 | €374,606 | -€160,248 | -30.0% |
| Intangible fixed assets | 21 | €10,134 | €4,123 | -€6,010 | -59.3% |
| Tangible fixed assets | 22/27 | €524,720 | €370,483 | -€154,237 | -29.4% |
| Plant, machinery and equipment | 23 | €74,677 | €44,031 | -€30,647 | -41.0% |
| Furniture and vehicles | 24 | €256,282 | €159,580 | -€96,702 | -37.7% |
| Other tangible fixed assets | 26 | €193,761 | €166,872 | -€26,889 | -13.9% |
| Current assets | 29/58 | €600,207 | €523,782 | -€76,425 | -12.7% |
| Stocks and contracts in progress | 3 | €256,318 | €332,855 | +€76,537 | +29.9% |
| Stocks | 30/36 | €256,318 | €307,575 | +€51,257 | +20.0% |
| Contracts in progress | 37 | - | €25,280 | +€25,280 | |
| Amounts receivable within one year | 40/41 | €159,201 | €82,772 | -€76,429 | -48.0% |
| Trade receivables | 40 | €150,525 | €78,659 | -€71,866 | -47.7% |
| Other amounts receivable | 41 | €8,676 | €4,113 | -€4,563 | -52.6% |
| Cash at bank and in hand | 54/58 | €154,659 | €78,974 | -€75,685 | -48.9% |
| Deferred charges and accrued income | 490/1 | €30,030 | €29,181 | -€848 | -2.8% |
| Total equity and liabilities | 10/49 | €1,135,061 | €898,388 | -€236,673 | -20.9% |
| Equity | 10/15 | €259,424 | €256,216 | -€3,208 | -1.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €254,424 | €251,216 | -€3,208 | -1.3% |
| Distributable reserves | 133 | €254,424 | €251,216 | -€3,208 | -1.3% |
| Amounts payable | 17/49 | €875,637 | €642,172 | -€233,465 | -26.7% |
| Amounts payable after more than one year | 17 | €614,090 | €439,244 | -€174,846 | -28.5% |
| Financial debts | 170/4 | €614,090 | €439,244 | -€174,846 | -28.5% |
| Amounts payable within one year | 42/48 | €261,548 | €202,929 | -€58,619 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €56,590 | €39,846 | -€16,744 | -29.6% |
| Trade debts | 44 | €92,452 | €93,213 | +€761 | +0.8% |
| Suppliers | 440/4 | €92,452 | €93,213 | +€761 | +0.8% |
| Taxes, remuneration and social security | 45 | €55,129 | €21,931 | -€33,198 | -60.2% |
| Taxes | 450/3 | €26,099 | €5,965 | -€20,134 | -77.1% |
| Remuneration and social security | 454/9 | €29,030 | €15,966 | -€13,064 | -45.0% |
| Other amounts payable | 47/48 | €57,377 | €47,939 | -€9,438 | -16.4% |
| Non-recurring operating income | 76A | €26,209 | €10,206 | -€16,002 | -61.1% |
| Remuneration, social security and pensions | 62 | €618,262 | €654,297 | +€36,034 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,725 | €187,426 | +€13,701 | +7.9% |
| Other operating charges | 640/8 | €11,451 | €1,955 | -€9,495 | -82.9% |
| Gross operating margin | 9900 | €864,296 | €850,539 | -€13,756 | -1.6% |
| Operating profit (loss) | 9901 | €60,858 | €6,861 | -€53,996 | -88.7% |
| Financial income | 75/76B | €9,898 | €10,083 | +€185 | +1.9% |
| Recurring financial income | 75 | €9,898 | €10,083 | +€185 | +1.9% |
| Financial charges | 65/66B | €13,461 | €8,884 | -€4,577 | -34.0% |
| Recurring financial charges | 65 | €11,873 | €8,884 | -€2,989 | -25.2% |
| Non-recurring financial charges | 66B | €1,588 | - | -€1,588 | |
| Profit (loss) for the period before taxes | 9903 | €57,295 | €8,061 | -€49,234 | -85.9% |
| Income taxes | 67/77 | €26,755 | €11,269 | -€15,485 | -57.9% |
| Profit (loss) for the period | 9904 | €30,541 | -€3,208 | -€33,749 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,541 | -€3,208 | -€33,749 |
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 28 October 2026 via checked.be.