T.G.S. GROUP: what changed
T.G.S. GROUP
Largest movements
- Cash +€191,599
up €191,599 (+802%), from €23,902 to €215,501
mainly Advances received (+€333,655) and Receivables within one year (+€181,263)
- Receivables within one year -€181,263
down €181,263 (-9.8%), from €1.8m to €1.7m
of which Trade receivables: -€150,604
- Stocks and contracts -€92,740
down €92,740 (-38.5%), from €241,031 to €148,291
- Financial fixed assets +€57,910
new in 2024: €57,910
- Advances received +€333,655
up €333,655 (+14,302%), from €2,333 to €335,988
- Trade debts -€289,273
down €289,273 (-16.0%), from €1.8m to €1.5m
- Other debts -€108,074
no longer reported in 2024 (was €108,074)
- Profit (loss) carried forward +€48,076
up €48,076 (+29.1%), from €165,028 to €213,104
- Gross operating margin +€43,461
up €43,461 (+26.9%), from €161,485 to €204,946
- Staff costs +€20,671
up €20,671 (+19.2%), from €107,383 to €128,054
- Taxes -€11,514
no longer reported in 2024 (was €11,514)
- Depreciation +€8,894
up €8,894 (+111%), from €8,012 to €16,906
- Other operating charges -€5,423
down €5,423 (-47.9%), from €11,322 to €5,899
Change in the result, 2023 to 2024
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2023 and 2024 balance sheets and the 2024 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,172,074 | €2,169,394 | -€2,680 | -0.1% |
| Fixed assets | 21/28 | €62,130 | €138,616 | +€76,486 | +123% |
| Tangible fixed assets | 22/27 | €62,130 | €80,706 | +€18,576 | +29.9% |
| Plant, machinery and equipment | 23 | €7,670 | €28,684 | +€21,014 | +274% |
| Furniture and vehicles | 24 | €54,460 | €52,022 | -€2,438 | -4.5% |
| Financial fixed assets | 28 | - | €57,910 | +€57,910 | |
| Current assets | 29/58 | €2,109,944 | €2,030,778 | -€79,166 | -3.8% |
| Stocks and contracts in progress | 3 | €241,031 | €148,291 | -€92,740 | -38.5% |
| Stocks | 30/36 | €241,031 | €148,291 | -€92,740 | -38.5% |
| Amounts receivable within one year | 40/41 | €1,842,483 | €1,661,220 | -€181,263 | -9.8% |
| Trade receivables | 40 | €937,763 | €787,159 | -€150,604 | -16.1% |
| Other amounts receivable | 41 | €904,720 | €874,061 | -€30,659 | -3.4% |
| Cash at bank and in hand | 54/58 | €23,902 | €215,501 | +€191,599 | +802% |
| Deferred charges and accrued income | 490/1 | €2,529 | €5,766 | +€3,237 | +128% |
| Total equity and liabilities | 10/49 | €2,172,074 | €2,169,394 | -€2,680 | -0.1% |
| Equity | 10/15 | €225,028 | €273,104 | +€48,076 | +21.4% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €165,028 | €213,104 | +€48,076 | +29.1% |
| Amounts payable | 17/49 | €1,947,046 | €1,896,290 | -€50,756 | -2.6% |
| Amounts payable within one year | 42/48 | €1,947,046 | €1,896,290 | -€50,756 | -2.6% |
| Trade debts | 44 | €1,804,617 | €1,515,344 | -€289,273 | -16.0% |
| Suppliers | 440/4 | €1,804,617 | €1,515,344 | -€289,273 | -16.0% |
| Advances received on contracts in progress | 46 | €2,333 | €335,988 | +€333,655 | +14,302% |
| Taxes, remuneration and social security | 45 | €32,021 | €44,957 | +€12,936 | +40.4% |
| Taxes | 450/3 | €5,895 | €10,472 | +€4,578 | +77.7% |
| Remuneration and social security | 454/9 | €26,126 | €34,485 | +€8,359 | +32.0% |
| Other amounts payable | 47/48 | €108,074 | - | -€108,074 | |
| Remuneration, social security and pensions | 62 | €107,383 | €128,054 | +€20,671 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,012 | €16,906 | +€8,894 | +111% |
| Other operating charges | 640/8 | €11,322 | €5,899 | -€5,423 | -47.9% |
| Gross operating margin | 9900 | €161,485 | €204,946 | +€43,461 | +26.9% |
| Operating profit (loss) | 9901 | €34,768 | €54,087 | +€19,319 | +55.6% |
| Financial income | 75/76B | €3,058 | €1,450 | -€1,608 | -52.6% |
| Recurring financial income | 75 | €3,058 | €1,450 | -€1,608 | -52.6% |
| Financial charges | 65/66B | €3,682 | €1,387 | -€2,294 | -62.3% |
| Recurring financial charges | 65 | €3,682 | €1,387 | -€2,294 | -62.3% |
| Profit (loss) for the period before taxes | 9903 | €34,144 | €54,150 | +€20,006 | +58.6% |
| Income taxes | 67/77 | €11,514 | - | -€11,514 | |
| Profit (loss) for the period | 9904 | €22,630 | €54,150 | +€31,520 | +139% |
| Profit (loss) for the period to be appropriated | 9905 | €22,630 | €54,150 | +€31,520 | +139% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.