TCS INFRA: 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.
TCS INFRA
Largest movements
- Current investments -€99,214
no longer reported in 2025 (was €99,214)
- Cash +€78,758
new in 2025: €78,758
mainly Current investments (+€99,214) and Other debts (+€40,469)
- Tangible fixed assets -€15,825
down €15,825 (-6.5%), from €243,592 to €227,766
of which Furniture and vehicles: -€10,581
- Receivables within one year -€5,709
down €5,709 (-11.4%), from €49,965 to €44,256
of which Trade receivables: -€6,552
- Tax, wage and social debts -€41,379
down €41,379 (-79.7%), from €51,891 to €10,512
of which Taxes: -€36,525
- Other debts +€40,469
up €40,469 (+18,091%), from €224 to €40,692
- Profit (loss) carried forward -€37,405
down €37,405 (-11.9%), from €315,058 to €277,652
- Gross operating margin -€135,785
down €135,785 (-43.2%), from €314,574 to €178,789
- Staff costs -€81,057
down €81,057 (-37.6%), from €215,684 to €134,626
- Depreciation -€25,109
down €25,109 (-58.2%), from €43,114 to €18,006
- Other operating charges +€9,195
up €9,195 (+535%), from €1,720 to €10,914
- Taxes -€7,313
down €7,313 (-54.4%), from €13,446 to €6,133
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 | €394,576 | €354,091 | -€40,485 | -10.3% |
| Fixed assets | 21/28 | €243,657 | €227,831 | -€15,825 | -6.5% |
| Tangible fixed assets | 22/27 | €243,592 | €227,766 | -€15,825 | -6.5% |
| Land and buildings | 22 | €221,941 | €216,696 | -€5,245 | -2.4% |
| Furniture and vehicles | 24 | €21,651 | €11,071 | -€10,581 | -48.9% |
| Financial fixed assets | 28 | €65 | €65 | = | 0.0% |
| Current assets | 29/58 | €150,919 | €126,260 | -€24,660 | -16.3% |
| Amounts receivable within one year | 40/41 | €49,965 | €44,256 | -€5,709 | -11.4% |
| Trade receivables | 40 | €25,386 | €18,835 | -€6,552 | -25.8% |
| Other amounts receivable | 41 | €24,579 | €25,421 | +€842 | +3.4% |
| Current investments | 50/53 | €99,214 | - | -€99,214 | |
| Cash at bank and in hand | 54/58 | - | €78,758 | +€78,758 | |
| Deferred charges and accrued income | 490/1 | €1,740 | €3,246 | +€1,505 | +86.5% |
| Total equity and liabilities | 10/49 | €394,576 | €354,091 | -€40,485 | -10.3% |
| Equity | 10/15 | €320,558 | €283,152 | -€37,405 | -11.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500 | €500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €315,058 | €277,652 | -€37,405 | -11.9% |
| Amounts payable | 17/49 | €74,018 | €70,939 | -€3,080 | -4.2% |
| Amounts payable within one year | 42/48 | €74,018 | €70,939 | -€3,080 | -4.2% |
| Financial debts | 43 | - | €589 | +€589 | |
| Credit institutions | 430/8 | - | €589 | +€589 | |
| Trade debts | 44 | €21,904 | €19,145 | -€2,758 | -12.6% |
| Suppliers | 440/4 | €21,904 | €19,145 | -€2,758 | -12.6% |
| Taxes, remuneration and social security | 45 | €51,891 | €10,512 | -€41,379 | -79.7% |
| Taxes | 450/3 | €47,037 | €10,512 | -€36,525 | -77.7% |
| Remuneration and social security | 454/9 | €4,854 | - | -€4,854 | |
| Other amounts payable | 47/48 | €224 | €40,692 | +€40,469 | +18,091% |
| Remuneration, social security and pensions | 62 | €215,684 | €134,626 | -€81,057 | -37.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,114 | €18,006 | -€25,109 | -58.2% |
| Other operating charges | 640/8 | €1,720 | €10,914 | +€9,195 | +535% |
| Gross operating margin | 9900 | €314,574 | €178,789 | -€135,785 | -43.2% |
| Operating profit (loss) | 9901 | €54,056 | €15,242 | -€38,814 | -71.8% |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €273 | €536 | +€264 | +96.7% |
| Recurring financial charges | 65 | €273 | €536 | +€264 | +96.7% |
| Profit (loss) for the period before taxes | 9903 | €53,783 | €14,728 | -€39,056 | -72.6% |
| Income taxes | 67/77 | €13,446 | €6,133 | -€7,313 | -54.4% |
| Profit (loss) for the period | 9904 | €40,337 | €8,595 | -€31,743 | -78.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,337 | €8,595 | -€31,743 | -78.7% |
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 19 October 2026 via checked.be.