TBS CONVERSIONS: 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 CONVERSIONS
Largest movements
- Deferred charges and accrued income +€59,496
up €59,496 (+313.9%), from €18,952 to €78,448
- Receivables within one year +€33,967
up €33,967 (+8.5%), from €398,735 to €432,703
of which Trade receivables: +€59,278
- Tangible fixed assets -€9,336
down €9,336 (-20.0%), from €46,755 to €37,419
of which Plant, machinery and equipment: -€8,824
- Cash -€8,080
down €8,080 (-38.3%), from €21,110 to €13,030
mainly Net result for the year (-€507,027) and Deferred charges and accrued income (-€59,496)
- Profit (loss) carried forward -€507,027
down €507,027 (-19.2%), from -€2.6m to -€3.1m
- Debts after one year +€374,386
up €374,386 (+15.6%), from €2.4m to €2.8m
- Accrued charges and deferred income +€131,804
up €131,804, from €0 to €131,804
- Trade debts +€58,215
up €58,215 (+8.5%), from €686,877 to €745,092
- Tax, wage and social debts +€20,794
up €20,794 (+53.2%), from €39,060 to €59,854
of which Remuneration and social security: +€28,648
- Gross operating margin -€302,637
down €302,637, from €192,414 to -€110,223
- Staff costs -€68,705
down €68,705 (-16.4%), from €420,154 to €351,449
- Other operating charges +€15,798
up €15,798 (+156.8%), from €10,077 to €25,875
- Depreciation -€2,083
down €2,083 (-11.6%), from €18,031 to €15,948
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 | €487,803 | €563,850 | +€76,047 | +15.6% |
| Fixed assets | 21/28 | €49,005 | €39,669 | -€9,336 | -19.1% |
| Tangible fixed assets | 22/27 | €46,755 | €37,419 | -€9,336 | -20.0% |
| Plant, machinery and equipment | 23 | €18,801 | €9,976 | -€8,824 | -46.9% |
| Furniture and vehicles | 24 | €6,910 | €9,681 | +€2,771 | +40.1% |
| Other tangible fixed assets | 26 | €21,044 | €17,762 | -€3,282 | -15.6% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €438,798 | €524,181 | +€85,383 | +19.5% |
| Amounts receivable within one year | 40/41 | €398,735 | €432,703 | +€33,967 | +8.5% |
| Trade receivables | 40 | €133,000 | €192,278 | +€59,278 | +44.6% |
| Other amounts receivable | 41 | €265,736 | €240,425 | -€25,311 | -9.5% |
| Cash at bank and in hand | 54/58 | €21,110 | €13,030 | -€8,080 | -38.3% |
| Deferred charges and accrued income | 490/1 | €18,952 | €78,448 | +€59,496 | +313.9% |
| Total equity and liabilities | 10/49 | €487,803 | €563,850 | +€76,047 | +15.6% |
| Equity | 10/15 | -€2,636,511 | -€3,143,538 | -€507,027 | -19.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €219 | €219 | = | 0.0% |
| Distributable reserves | 133 | €219 | €219 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,641,730 | -€3,148,757 | -€507,027 | -19.2% |
| Amounts payable | 17/49 | €3,124,314 | €3,707,388 | +€583,074 | +18.7% |
| Amounts payable after more than one year | 17 | €2,396,040 | €2,770,425 | +€374,386 | +15.6% |
| Financial debts | 170/4 | €2,396,040 | €2,770,425 | +€374,386 | +15.6% |
| Amounts payable within one year | 42/48 | €728,275 | €805,159 | +€76,884 | +10.6% |
| Current portion of amounts payable after more than one year | 42 | €352 | €0 | -€352 | -100.0% |
| Financial debts | 43 | €1,985 | €213 | -€1,773 | -89.3% |
| Credit institutions | 430/8 | €1,985 | €213 | -€1,773 | -89.3% |
| Trade debts | 44 | €686,877 | €745,092 | +€58,215 | +8.5% |
| Suppliers | 440/4 | €686,877 | €745,092 | +€58,215 | +8.5% |
| Taxes, remuneration and social security | 45 | €39,060 | €59,854 | +€20,794 | +53.2% |
| Taxes | 450/3 | €16,386 | €8,532 | -€7,854 | -47.9% |
| Remuneration and social security | 454/9 | €22,674 | €51,322 | +€28,648 | +126.3% |
| Accrued charges and deferred income | 492/3 | €0 | €131,804 | +€131,804 | |
| Non-recurring operating income | 76A | €25,000 | €0 | -€25,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €420,154 | €351,449 | -€68,705 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,031 | €15,948 | -€2,083 | -11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €10,077 | €25,875 | +€15,798 | +156.8% |
| Gross operating margin | 9900 | €192,414 | -€110,223 | -€302,637 | |
| Operating profit (loss) | 9901 | -€255,849 | -€503,495 | -€247,646 | -96.8% |
| Financial income | 75/76B | €924 | €146 | -€777 | -84.2% |
| Recurring financial income | 75 | €924 | €146 | -€777 | -84.2% |
| Financial charges | 65/66B | €3,649 | €3,221 | -€428 | -11.7% |
| Recurring financial charges | 65 | €3,649 | €3,221 | -€428 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | -€258,573 | -€506,569 | -€247,996 | -95.9% |
| Income taxes | 67/77 | €0 | €457 | +€457 | |
| Profit (loss) for the period | 9904 | -€258,573 | -€507,027 | -€248,454 | -96.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€258,573 | -€507,027 | -€248,454 | -96.1% |
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 9 October 2026 via checked.be.