T.S.E-TECHNICAL SERVICES ENGINEERING: 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.
T.S.E-TECHNICAL SERVICES ENGINEERING
Largest movements
- Receivables within one year -€7,345
down €7,345 (-25.0%), from €29,415 to €22,070
of which Trade receivables: -€7,345
- Tangible fixed assets -€4,577
down €4,577 (-51.9%), from €8,810 to €4,233
- Cash -€4,112
down €4,112 (-97.8%), from €4,204 to €92
mainly Tax, wage and social debts (-€19,045) and Trade debts (-€2,058)
- Deferred charges and accrued income -€1,016
down €1,016 (-75.8%), from €1,339 to €324
- Tax, wage and social debts -€19,045
down €19,045 (-48.7%), from €39,093 to €20,049
of which Taxes: -€11,450
- Other debts +€2,840
up €2,840 (+26.6%), from €10,687 to €13,527
- Trade debts -€2,058
down €2,058 (-32.5%), from €6,340 to €4,282
- Profit (loss) carried forward +€1,214
up €1,214 (+4.8%), from -€25,236 to -€24,022
- Gross operating margin +€28,922
up €28,922 (+28.0%), from €103,246 to €132,168
- Purchases and services -€17,676
down €17,676 (-18.5%), from €95,384 to €77,708
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 | €43,768 | €26,719 | -€17,049 | -39.0% |
| Fixed assets | 21/28 | €8,810 | €4,233 | -€4,577 | -51.9% |
| Tangible fixed assets | 22/27 | €8,810 | €4,233 | -€4,577 | -51.9% |
| Furniture and vehicles | 24 | €8,810 | €4,233 | -€4,577 | -51.9% |
| Current assets | 29/58 | €34,958 | €22,486 | -€12,472 | -35.7% |
| Amounts receivable within one year | 40/41 | €29,415 | €22,070 | -€7,345 | -25.0% |
| Trade receivables | 40 | €29,415 | €22,070 | -€7,345 | -25.0% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €4,204 | €92 | -€4,112 | -97.8% |
| Deferred charges and accrued income | 490/1 | €1,339 | €324 | -€1,016 | -75.8% |
| Total equity and liabilities | 10/49 | €43,768 | €26,719 | -€17,049 | -39.0% |
| Equity | 10/15 | -€12,352 | -€11,138 | +€1,214 | +9.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €11,884 | €11,884 | = | 0.0% |
| Distributable reserves | 133 | €11,884 | €11,884 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,236 | -€24,022 | +€1,214 | +4.8% |
| Amounts payable | 17/49 | €56,121 | €37,858 | -€18,263 | -32.5% |
| Amounts payable within one year | 42/48 | €56,121 | €37,858 | -€18,263 | -32.5% |
| Trade debts | 44 | €6,340 | €4,282 | -€2,058 | -32.5% |
| Suppliers | 440/4 | €6,340 | €4,282 | -€2,058 | -32.5% |
| Taxes, remuneration and social security | 45 | €39,093 | €20,049 | -€19,045 | -48.7% |
| Taxes | 450/3 | €17,089 | €5,639 | -€11,450 | -67.0% |
| Remuneration and social security | 454/9 | €22,004 | €14,410 | -€7,595 | -34.5% |
| Other amounts payable | 47/48 | €10,687 | €13,527 | +€2,840 | +26.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €95,384 | €77,708 | -€17,676 | -18.5% |
| Remuneration, social security and pensions | 62 | €121,728 | €122,814 | +€1,086 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,492 | €4,577 | +€1,085 | +31.1% |
| Other operating charges | 640/8 | €1,620 | €1,933 | +€312 | +19.3% |
| Gross operating margin | 9900 | €103,246 | €132,168 | +€28,922 | +28.0% |
| Operating profit (loss) | 9901 | -€23,594 | €2,844 | +€26,439 | |
| Financial income | 75/76B | €9 | €36 | +€26 | +280.9% |
| Recurring financial income | 75 | €9 | €36 | +€26 | +280.9% |
| Financial charges | 65/66B | €1,651 | €1,666 | +€15 | +0.9% |
| Recurring financial charges | 65 | €1,651 | €1,666 | +€15 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€25,236 | €1,214 | +€26,450 | |
| Profit (loss) for the period | 9904 | -€25,236 | €1,214 | +€26,450 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,236 | €1,214 | +€26,450 |
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 30 September 2026 via checked.be.