TLS: 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.
What changed
TLS
NACE 49.410, Freight transport by road
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€24,703
2024 · €32,844-€8,142
Equity
€651,500
2024 · €759,198-€107,698
Cash
€16,112
2024 · €15,016+€1,097
Balance sheet total
€1.4m
2024 · €2.0m-€520,104
Largest movements
Assets
- Tangible fixed assets -€367,136
down €367,136 (-36.6%), from €1.0m to €637,219
of which Leasing and similar rights: -€317,247
- Receivables within one year -€139,849
down €139,849 (-15.9%), from €877,327 to €737,478
of which Trade receivables: -€166,835
Equity and liabilities
- Debts after one year -€267,272
down €267,272 (-46.9%), from €570,139 to €302,866
- Reserves -€108,000
down €108,000 (-15.5%), from €696,731 to €588,731
of which Distributable reserves: -€108,000
- Short-term financial debts -€100,000
down €100,000 (-100.0%), from €100,000 to €0
- Current portion of long-term debt -€45,391
down €45,391 (-14.7%), from €309,377 to €263,986
Income statement
- Staff costs +€22,592
up €22,592 (+3.2%), from €717,084 to €739,676
- Depreciation -€16,164
down €16,164 (-4.2%), from €384,893 to €368,729
- Gross operating margin +€13,459
up €13,459 (+1.0%), from €1.3m to €1.3m
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.
Result 2024
€32,844
Gross operating margin
+€13,459
Staff costs
-€22,592
Depreciation
+€16,164
Other operating charges
-€7,044
Other operating items
-€3,925
Financial income
-€9,435
Financial charges
+€6,093
Taxes
-€861
Result 2025
€24,703
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.
From operations
+€547,618
Investment
-€1,458
Financing
-€545,063
Cash 2024
€15,016
From operations (derived)
+€547,618
Net result for the year
+€24,703
Depreciation
+€368,729
Receivables within one year
+€139,849
Deferred charges and accrued income
+€14,081
Trade debts
+€13,328
Tax, wage and social debts
-€12,805
Other debts
+€930
Accrued charges and deferred income
-€1,196
Investment (derived)
-€1,458
Investment in fixed assets (net)
-€1,458
Financing
-€545,063
Debts after one year
-€267,272
Current portion of long-term debt
-€45,391
Short-term financial debts
-€100,000
Contributions, distributions and other
-€132,400
Cash 2025
€16,112
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,961,270 | €1,441,165 | -€520,104 | -26.5% |
| Fixed assets | 21/28 | €1,005,785 | €638,514 | -€367,271 | -36.5% |
| Tangible fixed assets | 22/27 | €1,004,355 | €637,219 | -€367,136 | -36.6% |
| Plant, machinery and equipment | 23 | €798 | €0 | -€798 | -100.0% |
| Furniture and vehicles | 24 | €141,112 | €92,021 | -€49,091 | -34.8% |
| Leasing and similar rights | 25 | €862,445 | €545,198 | -€317,247 | -36.8% |
| Financial fixed assets | 28 | €1,430 | €1,295 | -€135 | -9.4% |
| Current assets | 29/58 | €955,485 | €802,651 | -€152,833 | -16.0% |
| Amounts receivable within one year | 40/41 | €877,327 | €737,478 | -€139,849 | -15.9% |
| Trade receivables | 40 | €842,345 | €675,509 | -€166,835 | -19.8% |
| Other amounts receivable | 41 | €34,982 | €61,969 | +€26,987 | +77.1% |
| Cash at bank and in hand | 54/58 | €15,016 | €16,112 | +€1,097 | +7.3% |
| Deferred charges and accrued income | 490/1 | €63,142 | €49,061 | -€14,081 | -22.3% |
| Total equity and liabilities | 10/49 | €1,961,270 | €1,441,165 | -€520,104 | -26.5% |
| Equity | 10/15 | €759,198 | €651,500 | -€107,698 | -14.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €696,731 | €588,731 | -€108,000 | -15.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €276,531 | €276,531 | = | 0.0% |
| Distributable reserves | 133 | €414,000 | €306,000 | -€108,000 | -26.1% |
| Profit (loss) carried forward | 14 | €466 | €769 | +€303 | +64.9% |
| Amounts payable | 17/49 | €1,202,072 | €789,665 | -€412,407 | -34.3% |
| Amounts payable after more than one year | 17 | €570,139 | €302,866 | -€267,272 | -46.9% |
| Financial debts | 170/4 | €570,139 | €302,866 | -€267,272 | -46.9% |
| Amounts payable within one year | 42/48 | €625,758 | €481,820 | -€143,938 | -23.0% |
| Current portion of amounts payable after more than one year | 42 | €309,377 | €263,986 | -€45,391 | -14.7% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100.0% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100.0% |
| Trade debts | 44 | €141,218 | €154,546 | +€13,328 | +9.4% |
| Suppliers | 440/4 | €141,218 | €154,546 | +€13,328 | +9.4% |
| Taxes, remuneration and social security | 45 | €63,693 | €50,888 | -€12,805 | -20.1% |
| Taxes | 450/3 | €10,423 | €8,936 | -€1,487 | -14.3% |
| Remuneration and social security | 454/9 | €53,270 | €41,952 | -€11,318 | -21.2% |
| Other amounts payable | 47/48 | €11,470 | €12,400 | +€930 | +8.1% |
| Accrued charges and deferred income | 492/3 | €6,176 | €4,979 | -€1,196 | -19.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €717,084 | €739,676 | +€22,592 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €384,893 | €368,729 | -€16,164 | -4.2% |
| Other operating charges | 640/8 | €120,046 | €127,090 | +€7,044 | +5.9% |
| Non-recurring operating charges | 66A | - | €3,925 | +€3,925 | |
| Gross operating margin | 9900 | €1,282,824 | €1,296,283 | +€13,459 | +1.0% |
| Operating profit (loss) | 9901 | €60,801 | €56,863 | -€3,938 | -6.5% |
| Financial income | 75/76B | €9,435 | €0 | -€9,435 | -100.0% |
| Recurring financial income | 75 | €9,435 | €0 | -€9,435 | -100.0% |
| Financial charges | 65/66B | €29,593 | €23,500 | -€6,093 | -20.6% |
| Recurring financial charges | 65 | €29,593 | €23,500 | -€6,093 | -20.6% |
| Profit (loss) for the period before taxes | 9903 | €40,643 | €33,363 | -€7,280 | -17.9% |
| Income taxes | 67/77 | €7,799 | €8,660 | +€861 | +11.0% |
| Profit (loss) for the period | 9904 | €32,844 | €24,703 | -€8,142 | -24.8% |
| Transfer to tax-exempt reserves | 689 | €15,000 | €0 | -€15,000 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,844 | €24,703 | +€6,858 | +38.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.