T-sbh: 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-sbh
Largest movements
- Cash +€19,908
up €19,908 (+139%), from €14,370 to €34,278
mainly Net result for the year (+€23,768) and Other debts (+€23,527)
- Intangible fixed assets -€13,095
no longer reported in 2025 (was €13,095)
- Tangible fixed assets +€9,447
up €9,447 (+153%), from €6,174 to €15,621
of which Plant, machinery and equipment: +€8,207
- Deferred charges and accrued income -€6,037
down €6,037 (-61.9%), from €9,751 to €3,714
- Receivables within one year -€5,656
down €5,656 (-80.1%), from €7,062 to €1,406
of which Trade receivables: -€5,663
- Other debts +€23,527
up €23,527 (+2,004%), from €1,174 to €24,701
- Profit (loss) carried forward -€21,949
no longer reported in 2025 (was €21,949)
- Reserves +€9,247
new in 2025: €9,247
- Trade debts -€4,990
down €4,990 (-91.8%), from €5,439 to €449
- Tax, wage and social debts -€1,267
down €1,267 (-7.0%), from €18,215 to €16,948
of which Taxes: -€1,653
- Gross operating margin +€24,783
up €24,783 (+170%), from €14,570 to €39,353
- Taxes +€5,102
up €5,102 (+247%), from €2,068 to €7,170
- Other operating charges +€1,018
up €1,018 (+168%), from €607 to €1,624
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 | €50,452 | €55,019 | +€4,567 | +9.1% |
| Fixed assets | 21/28 | €19,269 | €15,621 | -€3,647 | -18.9% |
| Intangible fixed assets | 21 | €13,095 | - | -€13,095 | |
| Tangible fixed assets | 22/27 | €6,174 | €15,621 | +€9,447 | +153% |
| Land and buildings | 22 | - | €1,353 | +€1,353 | |
| Plant, machinery and equipment | 23 | €3,037 | €11,244 | +€8,207 | +270% |
| Furniture and vehicles | 24 | €3,137 | €3,024 | -€113 | -3.6% |
| Current assets | 29/58 | €31,183 | €39,398 | +€8,215 | +26.3% |
| Amounts receivable within one year | 40/41 | €7,062 | €1,406 | -€5,656 | -80.1% |
| Trade receivables | 40 | €7,062 | €1,399 | -€5,663 | -80.2% |
| Other amounts receivable | 41 | - | €7 | +€7 | |
| Cash at bank and in hand | 54/58 | €14,370 | €34,278 | +€19,908 | +139% |
| Deferred charges and accrued income | 490/1 | €9,751 | €3,714 | -€6,037 | -61.9% |
| Total equity and liabilities | 10/49 | €50,452 | €55,019 | +€4,567 | +9.1% |
| Equity | 10/15 | €25,624 | €12,922 | -€12,702 | -49.6% |
| Contributions | 10/11 | €3,675 | €3,675 | = | 0.0% |
| Reserves | 13 | - | €9,247 | +€9,247 | |
| Distributable reserves | 133 | - | €9,247 | +€9,247 | |
| Profit (loss) carried forward | 14 | €21,949 | - | -€21,949 | |
| Amounts payable | 17/49 | €24,828 | €42,097 | +€17,270 | +69.6% |
| Amounts payable within one year | 42/48 | €24,828 | €42,097 | +€17,270 | +69.6% |
| Trade debts | 44 | €5,439 | €449 | -€4,990 | -91.8% |
| Suppliers | 440/4 | €5,439 | €449 | -€4,990 | -91.8% |
| Taxes, remuneration and social security | 45 | €18,215 | €16,948 | -€1,267 | -7.0% |
| Taxes | 450/3 | €15,497 | €13,844 | -€1,653 | -10.7% |
| Remuneration and social security | 454/9 | €2,718 | €3,104 | +€386 | +14.2% |
| Other amounts payable | 47/48 | €1,174 | €24,701 | +€23,527 | +2,004% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,547 | €5,674 | +€127 | +2.3% |
| Other operating charges | 640/8 | €607 | €1,624 | +€1,018 | +168% |
| Non-recurring operating charges | 66A | €483 | - | -€483 | |
| Gross operating margin | 9900 | €14,570 | €39,353 | +€24,783 | +170% |
| Operating profit (loss) | 9901 | €7,934 | €32,054 | +€24,120 | +304% |
| Financial charges | 65/66B | €971 | €1,117 | +€145 | +15.0% |
| Recurring financial charges | 65 | €971 | €1,117 | +€145 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | €6,963 | €30,938 | +€23,975 | +344% |
| Income taxes | 67/77 | €2,068 | €7,170 | +€5,102 | +247% |
| Profit (loss) for the period | 9904 | €4,895 | €23,768 | +€18,874 | +386% |
| Profit (loss) for the period to be appropriated | 9905 | €4,895 | €23,768 | +€18,874 | +386% |
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 26 October 2026 via checked.be.