'T SAS: 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 SAS
Largest movements
- Deferred charges and accrued income -€5,142
down €5,142 (-11.8%), from €43,486 to €38,343
- Cash -€3,036
down €3,036 (-11.7%), from €26,007 to €22,972
mainly Other debts (-€9,369) and Investment in fixed assets (net) (-€5,849)
- Receivables within one year +€2,965
up €2,965 (+1272.2%), from €233 to €3,198
of which Trade receivables: +€1,501
- Tangible fixed assets +€1,987
up €1,987 (+24.5%), from €8,097 to €10,084
of which Plant, machinery and equipment: +€2,538
- Other debts -€9,369
down €9,369 (-65.2%), from €14,369 to €5,000
- Reserves +€6,458
up €6,458 (+12.5%), from €51,809 to €58,267
of which Distributable reserves: +€6,458
- Tax, wage and social debts -€1,571
down €1,571 (-28.1%), from €5,596 to €4,024
of which Taxes: -€1,571
- Trade debts +€1,256
up €1,256 (+11.2%), from €11,175 to €12,431
- Gross operating margin -€8,157
down €8,157 (-23.8%), from €34,304 to €26,147
- Depreciation +€2,222
up €2,222 (+135.5%), from €1,640 to €3,862
- Staff costs -€1,865
down €1,865 (-53.5%), from €3,489 to €1,624
- Other operating charges -€1,357
down €1,357 (-49.1%), from €2,762 to €1,405
- Taxes -€1,347
down €1,347 (-31.7%), from €4,250 to €2,904
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 | €97,830 | €94,604 | -€3,226 | -3.3% |
| Fixed assets | 21/28 | €8,097 | €10,084 | +€1,987 | +24.5% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €8,097 | €10,084 | +€1,987 | +24.5% |
| Plant, machinery and equipment | 23 | €5,794 | €8,332 | +€2,538 | +43.8% |
| Furniture and vehicles | 24 | - | €740 | +€740 | |
| Other tangible fixed assets | 26 | €2,303 | €1,013 | -€1,291 | -56.0% |
| Current assets | 29/58 | €89,733 | €84,520 | -€5,213 | -5.8% |
| Stocks and contracts in progress | 3 | €20,006 | €20,006 | = | 0.0% |
| Stocks | 30/36 | €20,006 | €20,006 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €233 | €3,198 | +€2,965 | +1272.2% |
| Trade receivables | 40 | €0 | €1,501 | +€1,501 | |
| Other amounts receivable | 41 | €233 | €1,697 | +€1,464 | +628.2% |
| Cash at bank and in hand | 54/58 | €26,007 | €22,972 | -€3,036 | -11.7% |
| Deferred charges and accrued income | 490/1 | €43,486 | €38,343 | -€5,142 | -11.8% |
| Total equity and liabilities | 10/49 | €97,830 | €94,604 | -€3,226 | -3.3% |
| Equity | 10/15 | €66,691 | €73,149 | +€6,458 | +9.7% |
| Contributions | 10/11 | €14,882 | €14,882 | = | 0.0% |
| Reserves | 13 | €51,809 | €58,267 | +€6,458 | +12.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €49,950 | €56,408 | +€6,458 | +12.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €31,139 | €21,455 | -€9,684 | -31.1% |
| Amounts payable within one year | 42/48 | €31,139 | €21,455 | -€9,684 | -31.1% |
| Trade debts | 44 | €11,175 | €12,431 | +€1,256 | +11.2% |
| Suppliers | 440/4 | €11,175 | €12,431 | +€1,256 | +11.2% |
| Taxes, remuneration and social security | 45 | €5,596 | €4,024 | -€1,571 | -28.1% |
| Taxes | 450/3 | €5,596 | €4,024 | -€1,571 | -28.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €14,369 | €5,000 | -€9,369 | -65.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €50 | €0 | -€50 | -100.0% |
| Remuneration, social security and pensions | 62 | €3,489 | €1,624 | -€1,865 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,640 | €3,862 | +€2,222 | +135.5% |
| Other operating charges | 640/8 | €2,762 | €1,405 | -€1,357 | -49.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €34,304 | €26,147 | -€8,157 | -23.8% |
| Operating profit (loss) | 9901 | €26,413 | €19,256 | -€7,157 | -27.1% |
| Financial income | 75/76B | €5 | €133 | +€128 | +2422.0% |
| Recurring financial income | 75 | €5 | €133 | +€128 | +2422.0% |
| Financial charges | 65/66B | €5,727 | €5,028 | -€699 | -12.2% |
| Recurring financial charges | 65 | €5,727 | €5,028 | -€699 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €20,691 | €14,361 | -€6,330 | -30.6% |
| Income taxes | 67/77 | €4,250 | €2,904 | -€1,347 | -31.7% |
| Profit (loss) for the period | 9904 | €16,441 | €11,458 | -€4,983 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,441 | €11,458 | -€4,983 | -30.3% |
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 8 October 2026 via checked.be.