T.S. Finanz: 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.
T.S. Finanz
Largest movements
- Financial fixed assets -€744,300
down €744,300 (-100.0%), from €744,320 to €20
- Cash +€19,210
up €19,210 (+15.6%), from €123,018 to €142,227
mainly Net result for the year (+€2.5m) and Investment in fixed assets (net) (+€744,300)
- Receivables within one year +€11,443
up €11,443 (+118%), from €9,732 to €21,175
of which Trade receivables: +€21,175
- Other debts -€545,999
down €545,999 (-78.4%), from €696,610 to €150,611
- Reserves -€135,000
no longer reported in 2026 (was €135,000)
- Current portion of long-term debt -€47,778
no longer reported in 2026 (was €47,778)
- Tax, wage and social debts +€10,145
up €10,145 (+67.6%), from €15,005 to €25,151
- Gross operating margin +€2.0m
up €2.0m (+1,599%), from €127,353 to €2.2m
- Financial income -€405,929
down €405,929 (-52.1%), from €779,272 to €373,344
- Taxes -€30,268
no longer reported in 2026 (was €30,268)
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €894,572 | €175,980 | -€718,593 | -80.3% |
| Fixed assets | 21/28 | €760,579 | €11,296 | -€749,283 | -98.5% |
| Tangible fixed assets | 22/27 | €16,259 | €11,276 | -€4,983 | -30.6% |
| Furniture and vehicles | 24 | €9,423 | €6,113 | -€3,311 | -35.1% |
| Other tangible fixed assets | 26 | €6,836 | €5,163 | -€1,672 | -24.5% |
| Financial fixed assets | 28 | €744,320 | €20 | -€744,300 | -100.0% |
| Current assets | 29/58 | €133,993 | €164,683 | +€30,690 | +22.9% |
| Amounts receivable within one year | 40/41 | €9,732 | €21,175 | +€11,443 | +118% |
| Trade receivables | 40 | - | €21,175 | +€21,175 | |
| Other amounts receivable | 41 | €9,732 | - | -€9,732 | |
| Cash at bank and in hand | 54/58 | €123,018 | €142,227 | +€19,210 | +15.6% |
| Deferred charges and accrued income | 490/1 | €1,244 | €1,281 | +€38 | +3.0% |
| Total equity and liabilities | 10/49 | €894,572 | €175,980 | -€718,593 | -80.3% |
| Equity | 10/15 | €135,001 | €1 | -€135,000 | -100.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €135,000 | - | -€135,000 | |
| Distributable reserves | 133 | €135,000 | - | -€135,000 | |
| Amounts payable | 17/49 | €759,571 | €175,979 | -€583,593 | -76.8% |
| Amounts payable after more than one year | 17 | €37 | - | -€37 | |
| Other amounts payable | 178/9 | €37 | - | -€37 | |
| Amounts payable within one year | 42/48 | €759,534 | €175,979 | -€583,556 | -76.8% |
| Current portion of amounts payable after more than one year | 42 | €47,778 | - | -€47,778 | |
| Trade debts | 44 | €141 | €217 | +€76 | +54.2% |
| Suppliers | 440/4 | €141 | €217 | +€76 | +54.2% |
| Taxes, remuneration and social security | 45 | €15,005 | €25,151 | +€10,145 | +67.6% |
| Taxes | 450/3 | €15,005 | €25,151 | +€10,145 | +67.6% |
| Other amounts payable | 47/48 | €696,610 | €150,611 | -€545,999 | -78.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,095 | €4,983 | -€6,112 | -55.1% |
| Other operating charges | 640/8 | €1,076 | €1,640 | +€564 | +52.4% |
| Non-recurring operating charges | 66A | €258 | €278 | +€20 | +7.7% |
| Gross operating margin | 9900 | €127,353 | €2,163,259 | +€2.0m | +1,599% |
| Operating profit (loss) | 9901 | €114,924 | €2,156,357 | +€2.0m | +1,776% |
| Financial income | 75/76B | €779,272 | €373,344 | -€405,929 | -52.1% |
| Recurring financial income | 75 | €779,272 | €373,344 | -€405,929 | -52.1% |
| Financial charges | 65/66B | €1,393 | €1,011 | -€381 | -27.4% |
| Recurring financial charges | 65 | €1,393 | €1,011 | -€381 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €892,804 | €2,528,690 | +€1.6m | +183% |
| Income taxes | 67/77 | €30,268 | - | -€30,268 | |
| Profit (loss) for the period | 9904 | €862,536 | €2,528,690 | +€1.7m | +193% |
| Profit (loss) for the period to be appropriated | 9905 | €862,536 | €2,528,690 | +€1.7m | +193% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.