TBS ALCHIMIST: 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.
TBS ALCHIMIST
Largest movements
- Cash -€31,393
down €31,393 (-55.4%), from €56,694 to €25,301
mainly Investment in fixed assets (net) (-€45,247) and Receivables within one year (-€6,740)
- Tangible fixed assets +€30,205
up €30,205 (+141%), from €21,492 to €51,698
of which Plant, machinery and equipment: +€22,477
- Intangible fixed assets +€7,755
new in 2025: €7,755
- Receivables within one year +€6,740
up €6,740 (+655%), from €1,030 to €7,770
of which Trade receivables: +€7,770
- Stocks and contracts +€5,474
new in 2025: €5,474
- Tax, wage and social debts +€14,677
up €14,677 (+39,444%), from €37 to €14,714
of which Taxes: +€11,977
- Trade debts +€3,611
up €3,611 (+962%), from €375 to €3,986
- Other debts +€1,226
up €1,226 (+2.7%), from €45,000 to €46,226
- Advances received +€1,000
new in 2025: €1,000
- Gross operating margin +€25,134
up €25,134, from -€2,199 to €22,935
- Other operating charges +€9,768
new in 2025: €9,768
- Depreciation +€3,681
up €3,681 (+103%), from €3,573 to €7,254
- Financial charges +€3,653
up €3,653 (+1,656%), from €221 to €3,874
- Staff costs +€1,520
new in 2025: €1,520
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 | €79,383 | €99,642 | +€20,259 | +25.5% |
| Formation expenses | 20 | €167 | - | -€167 | |
| Fixed assets | 21/28 | €21,492 | €59,653 | +€38,160 | +178% |
| Intangible fixed assets | 21 | - | €7,755 | +€7,755 | |
| Tangible fixed assets | 22/27 | €21,492 | €51,698 | +€30,205 | +141% |
| Plant, machinery and equipment | 23 | €18,050 | €40,527 | +€22,477 | +125% |
| Furniture and vehicles | 24 | €3,443 | €11,171 | +€7,728 | +224% |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €57,724 | €39,989 | -€17,735 | -30.7% |
| Stocks and contracts in progress | 3 | - | €5,474 | +€5,474 | |
| Stocks | 30/36 | - | €5,474 | +€5,474 | |
| Amounts receivable within one year | 40/41 | €1,030 | €7,770 | +€6,740 | +655% |
| Trade receivables | 40 | - | €7,770 | +€7,770 | |
| Other amounts receivable | 41 | €1,030 | - | -€1,030 | |
| Cash at bank and in hand | 54/58 | €56,694 | €25,301 | -€31,393 | -55.4% |
| Deferred charges and accrued income | 490/1 | - | €1,444 | +€1,444 | |
| Total equity and liabilities | 10/49 | €79,383 | €99,642 | +€20,259 | +25.5% |
| Equity | 10/15 | €33,970 | €33,716 | -€255 | -0.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,030 | -€6,284 | -€255 | -4.2% |
| Amounts payable | 17/49 | €45,413 | €65,926 | +€20,514 | +45.2% |
| Amounts payable within one year | 42/48 | €45,413 | €65,926 | +€20,514 | +45.2% |
| Trade debts | 44 | €375 | €3,986 | +€3,611 | +962% |
| Suppliers | 440/4 | €375 | €3,986 | +€3,611 | +962% |
| Advances received on contracts in progress | 46 | - | €1,000 | +€1,000 | |
| Taxes, remuneration and social security | 45 | €37 | €14,714 | +€14,677 | +39,444% |
| Taxes | 450/3 | €37 | €12,014 | +€11,977 | +32,187% |
| Remuneration and social security | 454/9 | - | €2,700 | +€2,700 | |
| Other amounts payable | 47/48 | €45,000 | €46,226 | +€1,226 | +2.7% |
| Non-recurring operating income | 76A | - | €5,971 | +€5,971 | |
| Remuneration, social security and pensions | 62 | - | €1,520 | +€1,520 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,573 | €7,254 | +€3,681 | +103% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €167 | +€167 | |
| Other operating charges | 640/8 | - | €9,768 | +€9,768 | |
| Gross operating margin | 9900 | -€2,199 | €22,935 | +€25,134 | |
| Operating profit (loss) | 9901 | -€5,772 | €4,226 | +€9,998 | |
| Financial income | 75/76B | - | €85 | +€85 | |
| Recurring financial income | 75 | - | €85 | +€85 | |
| Financial charges | 65/66B | €221 | €3,874 | +€3,653 | +1,656% |
| Recurring financial charges | 65 | €221 | €3,874 | +€3,653 | +1,656% |
| Profit (loss) for the period before taxes | 9903 | -€5,993 | €437 | +€6,430 | |
| Income taxes | 67/77 | €37 | €692 | +€654 | +1,759% |
| Profit (loss) for the period | 9904 | -€6,030 | -€255 | +€5,775 | +95.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,030 | -€255 | +€5,775 | +95.8% |
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 31 October 2026 via checked.be.