TBS: 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.
TBS
Largest movements
- Tangible fixed assets -€6,228
down €6,228 (-60.9%), from €10,234 to €4,005
of which Furniture and vehicles: -€9,413
- Receivables within one year +€6,212
up €6,212 (+50.2%), from €12,380 to €18,592
of which Trade receivables: +€5,083
- Trade debts -€18,881
down €18,881 (-52.9%), from €35,669 to €16,788
- Short-term financial debts +€15,000
up €15,000, from €0 to €15,000
- Debts after one year -€11,376
down €11,376 (-5.8%), from €194,911 to €183,535
- Reserves +€7,223
up €7,223 (+150.9%), from €4,787 to €12,010
- Advances received +€5,700
new in 2025: €5,700
- Gross operating margin +€36,063
up €36,063 (+388.7%), from €9,278 to €45,341
- Write-downs +€20,000
new in 2025: €20,000
- Financial charges -€4,808
down €4,808 (-32.0%), from €15,029 to €10,221
- Financial income -€979
down €979 (-84.9%), from €1,153 to €174
- Other operating charges -€458
down €458 (-20.5%), from €2,234 to €1,776
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 | €338,702 | €339,210 | +€508 | +0.1% |
| Fixed assets | 21/28 | €10,301 | €4,005 | -€6,296 | -61.1% |
| Intangible fixed assets | 21 | €67 | €0 | -€67 | -100.0% |
| Tangible fixed assets | 22/27 | €10,234 | €4,005 | -€6,228 | -60.9% |
| Plant, machinery and equipment | 23 | €821 | €586 | -€235 | -28.6% |
| Furniture and vehicles | 24 | €9,413 | €0 | -€9,413 | -100.0% |
| Leasing and similar rights | 25 | - | €3,419 | +€3,419 | |
| Current assets | 29/58 | €328,401 | €335,204 | +€6,803 | +2.1% |
| Stocks and contracts in progress | 3 | €316,022 | €316,613 | +€591 | +0.2% |
| Stocks | 30/36 | €311,372 | €316,613 | +€5,241 | +1.7% |
| Contracts in progress | 37 | €4,650 | €0 | -€4,650 | -100.0% |
| Amounts receivable within one year | 40/41 | €12,380 | €18,592 | +€6,212 | +50.2% |
| Trade receivables | 40 | €11,500 | €16,583 | +€5,083 | +44.2% |
| Other amounts receivable | 41 | €880 | €2,008 | +€1,129 | +128.3% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €338,702 | €339,210 | +€508 | +0.1% |
| Equity | 10/15 | €7,287 | €14,510 | +€7,223 | +99.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €4,787 | €12,010 | +€7,223 | +150.9% |
| Distributable reserves | 133 | €4,787 | €12,010 | +€7,223 | +150.9% |
| Amounts payable | 17/49 | €331,415 | €324,700 | -€6,715 | -2.0% |
| Amounts payable after more than one year | 17 | €194,911 | €183,535 | -€11,376 | -5.8% |
| Financial debts | 170/4 | €194,911 | €183,535 | -€11,376 | -5.8% |
| Amounts payable within one year | 42/48 | €136,478 | €141,009 | +€4,531 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €12,400 | €11,902 | -€498 | -4.0% |
| Financial debts | 43 | €0 | €15,000 | +€15,000 | |
| Credit institutions | 430/8 | €0 | €15,000 | +€15,000 | |
| Trade debts | 44 | €35,669 | €16,788 | -€18,881 | -52.9% |
| Suppliers | 440/4 | €35,669 | €16,788 | -€18,881 | -52.9% |
| Advances received on contracts in progress | 46 | - | €5,700 | +€5,700 | |
| Taxes, remuneration and social security | 45 | €2,239 | €3,243 | +€1,003 | +44.8% |
| Taxes | 450/3 | €2,239 | €3,243 | +€1,003 | +44.8% |
| Other amounts payable | 47/48 | €86,170 | €88,377 | +€2,207 | +2.6% |
| Accrued charges and deferred income | 492/3 | €26 | €155 | +€129 | +501.0% |
| Non-recurring operating income | 76A | - | €2,392 | +€2,392 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,372 | €6,296 | -€76 | -1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €2,234 | €1,776 | -€458 | -20.5% |
| Gross operating margin | 9900 | €9,278 | €45,341 | +€36,063 | +388.7% |
| Operating profit (loss) | 9901 | €672 | €17,269 | +€16,597 | +2469.8% |
| Financial income | 75/76B | €1,153 | €174 | -€979 | -84.9% |
| Recurring financial income | 75 | €1,153 | €174 | -€979 | -84.9% |
| Financial charges | 65/66B | €15,029 | €10,221 | -€4,808 | -32.0% |
| Recurring financial charges | 65 | €15,029 | €10,221 | -€4,808 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | -€13,204 | €7,223 | +€20,427 | |
| Profit (loss) for the period | 9904 | -€13,204 | €7,223 | +€20,427 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,204 | €7,223 | +€20,427 |
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 7 October 2026 via checked.be.