TFS MANAGEMENT: 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.
TFS MANAGEMENT
Largest movements
- Cash +€25,684
up €25,684 (+1,312%), from €1,957 to €27,642
mainly Net result for the year (+€57,786) and Tax, wage and social debts (+€11,649)
- Receivables within one year +€22,462
up €22,462 (+744%), from €3,018 to €25,480
of which Trade receivables: +€16,577
- Stocks and contracts +€15,000
new in 2024: €15,000
- Tangible fixed assets +€3,070
up €3,070 (+1,039%), from €296 to €3,365
of which Furniture and vehicles: +€3,230
- Profit (loss) carried forward +€57,786
up €57,786, from -€42,317 to €15,469
- Tax, wage and social debts +€11,649
new in 2024: €11,649
- Other debts -€11,437
no longer reported in 2024 (was €11,437)
- Trade debts +€6,103
up €6,103 (+178%), from €3,426 to €9,528
- Accrued charges and deferred income +€2,300
up €2,300 (+19.7%), from €11,675 to €13,975
- Turnover +€164,179
up €164,179 (+5,188%), from €3,165 to €167,344
- Purchases and services +€83,485
up €83,485 (+687%), from €12,160 to €95,646
- Gross operating margin +€80,694
up €80,694, from -€8,996 to €71,698
- Taxes +€7,264
new in 2024: €7,264
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,271 | €71,671 | +€66,400 | +1,260% |
| Fixed assets | 21/28 | €296 | €3,460 | +€3,165 | +1,071% |
| Tangible fixed assets | 22/27 | €296 | €3,365 | +€3,070 | +1,039% |
| Plant, machinery and equipment | 23 | €161 | €0 | -€161 | -100% |
| Furniture and vehicles | 24 | €135 | €3,365 | +€3,230 | +2,395% |
| Financial fixed assets | 28 | - | €95 | +€95 | |
| Current assets | 29/58 | €4,975 | €68,210 | +€63,235 | +1,271% |
| Stocks and contracts in progress | 3 | - | €15,000 | +€15,000 | |
| Stocks | 30/36 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €3,018 | €25,480 | +€22,462 | +744% |
| Trade receivables | 40 | €2,662 | €19,239 | +€16,577 | +623% |
| Other amounts receivable | 41 | €356 | €6,241 | +€5,885 | +1,652% |
| Cash at bank and in hand | 54/58 | €1,957 | €27,642 | +€25,684 | +1,312% |
| Deferred charges and accrued income | 490/1 | - | €89 | +€89 | |
| Total equity and liabilities | 10/49 | €5,271 | €71,671 | +€66,400 | +1,260% |
| Equity | 10/15 | -€23,717 | €34,069 | +€57,786 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,317 | €15,469 | +€57,786 | |
| Amounts payable | 17/49 | €28,988 | €37,602 | +€8,614 | +29.7% |
| Amounts payable within one year | 42/48 | €17,313 | €23,627 | +€6,314 | +36.5% |
| Trade debts | 44 | €3,426 | €9,528 | +€6,103 | +178% |
| Suppliers | 440/4 | €3,426 | €9,528 | +€6,103 | +178% |
| Advances received on contracts in progress | 46 | €2,450 | €2,450 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €11,649 | +€11,649 | |
| Taxes | 450/3 | - | €11,649 | +€11,649 | |
| Other amounts payable | 47/48 | €11,437 | - | -€11,437 | |
| Accrued charges and deferred income | 492/3 | €11,675 | €13,975 | +€2,300 | +19.7% |
| Turnover | 70 | €3,165 | €167,344 | +€164,179 | +5,188% |
| Goods, raw materials, services and sundry goods | 60/61 | €12,160 | €95,646 | +€83,485 | +687% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €552 | €673 | +€121 | +21.9% |
| Other operating charges | 640/8 | €464 | €512 | +€47 | +10.2% |
| Non-recurring operating charges | 66A | - | €5,300 | +€5,300 | |
| Gross operating margin | 9900 | -€8,996 | €71,698 | +€80,694 | |
| Operating profit (loss) | 9901 | -€10,013 | €65,213 | +€75,226 | |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €92 | €163 | +€71 | +77.4% |
| Recurring financial charges | 65 | €92 | €163 | +€71 | +77.4% |
| Profit (loss) for the period before taxes | 9903 | -€10,098 | €65,050 | +€75,148 | |
| Income taxes | 67/77 | - | €7,264 | +€7,264 | |
| Profit (loss) for the period | 9904 | -€10,098 | €57,786 | +€67,884 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,098 | €57,786 | +€67,884 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.