T&S Stables: 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 Stables
Largest movements
- Stocks and contracts -€87,000
down €87,000 (-37.7%), from €231,000 to €144,000
- Tangible fixed assets +€54,926
up €54,926 (+181%), from €30,400 to €85,325
of which Furniture and vehicles: +€57,896
- Receivables within one year +€16,167
up €16,167 (+3,995%), from €405 to €16,572
- Other debts -€9,187
down €9,187 (-4.0%), from €229,359 to €220,171
- Debts after one year -€3,665
down €3,665 (-19.9%), from €18,381 to €14,716
- Gross operating margin +€3,508
up €3,508 (+35.1%), from €9,992 to €13,500
- Depreciation +€2,154
up €2,154 (+31.3%), from €6,880 to €9,035
- Other operating charges +€906
up €906 (+172%), from €528 to €1,434
- Financial charges -€398
down €398 (-19.2%), from €2,072 to €1,674
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 | €270,551 | €254,611 | -€15,940 | -5.9% |
| Fixed assets | 21/28 | €30,400 | €85,325 | +€54,926 | +181% |
| Tangible fixed assets | 22/27 | €30,400 | €85,325 | +€54,926 | +181% |
| Plant, machinery and equipment | 23 | €2,986 | €5,020 | +€2,033 | +68.1% |
| Furniture and vehicles | 24 | - | €57,896 | +€57,896 | |
| Leasing and similar rights | 25 | €26,682 | €21,771 | -€4,911 | -18.4% |
| Other tangible fixed assets | 26 | €731 | €639 | -€92 | -12.6% |
| Current assets | 29/58 | €240,151 | €169,286 | -€70,865 | -29.5% |
| Stocks and contracts in progress | 3 | €231,000 | €144,000 | -€87,000 | -37.7% |
| Stocks | 30/36 | €231,000 | €144,000 | -€87,000 | -37.7% |
| Amounts receivable within one year | 40/41 | €405 | €16,572 | +€16,167 | +3,995% |
| Other amounts receivable | 41 | €405 | €16,572 | +€16,167 | +3,995% |
| Cash at bank and in hand | 54/58 | €8,296 | €8,223 | -€73 | -0.9% |
| Deferred charges and accrued income | 490/1 | €451 | €491 | +€40 | +8.9% |
| Total equity and liabilities | 10/49 | €270,551 | €254,611 | -€15,940 | -5.9% |
| Equity | 10/15 | €10,327 | €10,525 | +€198 | +1.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,327 | €7,525 | +€198 | +2.7% |
| Amounts payable | 17/49 | €260,224 | €244,086 | -€16,138 | -6.2% |
| Amounts payable after more than one year | 17 | €18,381 | €14,716 | -€3,665 | -19.9% |
| Financial debts | 170/4 | €18,381 | €14,716 | -€3,665 | -19.9% |
| Amounts payable within one year | 42/48 | €241,844 | €229,370 | -€12,474 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €3,409 | €3,665 | +€256 | +7.5% |
| Trade debts | 44 | €7,622 | €4,940 | -€2,682 | -35.2% |
| Suppliers | 440/4 | €7,622 | €4,940 | -€2,682 | -35.2% |
| Taxes, remuneration and social security | 45 | €1,454 | €594 | -€860 | -59.2% |
| Taxes | 450/3 | €1,454 | €594 | -€860 | -59.2% |
| Other amounts payable | 47/48 | €229,359 | €220,171 | -€9,187 | -4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,880 | €9,035 | +€2,154 | +31.3% |
| Other operating charges | 640/8 | €528 | €1,434 | +€906 | +172% |
| Non-recurring operating charges | 66A | - | €98 | +€98 | |
| Gross operating margin | 9900 | €9,992 | €13,500 | +€3,508 | +35.1% |
| Operating profit (loss) | 9901 | €2,584 | €2,933 | +€350 | +13.5% |
| Financial income | 75/76B | €0 | €3 | +€3 | +11,533% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +11,533% |
| Financial charges | 65/66B | €2,072 | €1,674 | -€398 | -19.2% |
| Recurring financial charges | 65 | €2,072 | €1,674 | -€398 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €511 | €1,263 | +€751 | +147% |
| Income taxes | 67/77 | €111 | €231 | +€120 | +108% |
| Profit (loss) for the period | 9904 | €400 | €1,031 | +€632 | +158% |
| Profit (loss) for the period to be appropriated | 9905 | €400 | €1,031 | +€632 | +158% |
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 18 October 2026 via checked.be.