T'SAS I.: 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'SAS I.
Largest movements
- Tangible fixed assets -€45,988
down €45,988 (-4.2%), from €1.1m to €1.1m
of which Other tangible fixed assets: -€45,103
- Cash +€11,936
up €11,936 (+27.2%), from €43,858 to €55,793
mainly Depreciation (+€45,988) and Trade debts (+€11,143)
- Profit (loss) carried forward -€17,043
down €17,043 (-15.2%), from -€111,842 to -€128,885
- Debts after one year -€16,340
down €16,340 (-10.4%), from €156,431 to €140,091
- Gross operating margin -€34,475
down €34,475 (-47.2%), from €73,062 to €38,586
- Depreciation +€1,279
up €1,279 (+2.9%), from €44,709 to €45,988
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 | €1,160,147 | €1,135,533 | -€24,614 | -2.1% |
| Fixed assets | 21/28 | €1,096,819 | €1,050,831 | -€45,988 | -4.2% |
| Tangible fixed assets | 22/27 | €1,096,819 | €1,050,831 | -€45,988 | -4.2% |
| Land and buildings | 22 | €933,856 | €933,856 | = | 0.0% |
| Plant, machinery and equipment | 23 | €232 | €0 | -€232 | -100% |
| Furniture and vehicles | 24 | €1,851 | €1,198 | -€653 | -35.3% |
| Other tangible fixed assets | 26 | €160,880 | €115,777 | -€45,103 | -28.0% |
| Current assets | 29/58 | €63,328 | €84,702 | +€21,374 | +33.8% |
| Amounts receivable within one year | 40/41 | €17,946 | €27,077 | +€9,131 | +50.9% |
| Trade receivables | 40 | €13,572 | €27,077 | +€13,505 | +99.5% |
| Other amounts receivable | 41 | €4,374 | €0 | -€4,374 | -100% |
| Cash at bank and in hand | 54/58 | €43,858 | €55,793 | +€11,936 | +27.2% |
| Deferred charges and accrued income | 490/1 | €1,524 | €1,831 | +€307 | +20.2% |
| Total equity and liabilities | 10/49 | €1,160,147 | €1,135,533 | -€24,614 | -2.1% |
| Equity | 10/15 | €942,535 | €925,491 | -€17,043 | -1.8% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Revaluation surpluses | 12 | €900,000 | €900,000 | = | 0.0% |
| Reserves | 13 | €30,430 | €30,430 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,430 | €30,430 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,388 | €4,388 | = | 0.0% |
| Other | 1319 | €26,042 | €26,042 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,842 | -€128,885 | -€17,043 | -15.2% |
| Amounts payable | 17/49 | €217,612 | €210,041 | -€7,571 | -3.5% |
| Amounts payable after more than one year | 17 | €156,431 | €140,091 | -€16,340 | -10.4% |
| Financial debts | 170/4 | €156,431 | €140,091 | -€16,340 | -10.4% |
| Amounts payable within one year | 42/48 | €61,181 | €69,951 | +€8,769 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €16,035 | €16,340 | +€305 | +1.9% |
| Trade debts | 44 | €34,238 | €45,381 | +€11,143 | +32.5% |
| Suppliers | 440/4 | €34,238 | €45,381 | +€11,143 | +32.5% |
| Taxes, remuneration and social security | 45 | €7,516 | €4,761 | -€2,755 | -36.7% |
| Taxes | 450/3 | €7,516 | €4,761 | -€2,755 | -36.7% |
| Other amounts payable | 47/48 | €3,393 | €3,468 | +€76 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,709 | €45,988 | +€1,279 | +2.9% |
| Other operating charges | 640/8 | €6,081 | €6,269 | +€188 | +3.1% |
| Gross operating margin | 9900 | €73,062 | €38,586 | -€34,475 | -47.2% |
| Operating profit (loss) | 9901 | €22,271 | -€13,670 | -€35,942 | |
| Financial charges | 65/66B | €3,676 | €3,373 | -€303 | -8.3% |
| Recurring financial charges | 65 | €3,676 | €3,373 | -€303 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €18,595 | -€17,043 | -€35,639 | |
| Profit (loss) for the period | 9904 | €18,595 | -€17,043 | -€35,639 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,595 | -€17,043 | -€35,639 |
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 24 October 2026 via checked.be.