TNSE Studios: 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.
TNSE Studios
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+146%), from €1.2m to €3.0m
of which Other tangible fixed assets: +€1.5m
- Current investments -€85,130
down €85,130 (-22.3%), from €381,211 to €296,081
- Reserves +€682,763
up €682,763 (+176%), from €388,945 to €1.1m
- Trade debts +€573,664
up €573,664 (+317%), from €180,772 to €754,436
- Current portion of long-term debt +€232,618
up €232,618 (+135%), from €171,956 to €404,575
- Debts after one year +€227,534
up €227,534 (+23.1%), from €983,409 to €1.2m
- Gross operating margin +€802,483
up €802,483 (+112%), from €718,007 to €1.5m
- Depreciation +€183,328
up €183,328 (+101%), from €181,626 to €364,954
- Staff costs +€149,940
up €149,940 (+137%), from €109,480 to €259,420
- Taxes +€86,470
up €86,470 (+168%), from €51,476 to €137,946
- Financial charges +€70,123
up €70,123 (+176%), from €39,927 to €110,050
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 | €2,144,122 | €3,854,617 | +€1.7m | +79.8% |
| Fixed assets | 21/28 | €1,238,935 | €3,027,391 | +€1.8m | +144% |
| Intangible fixed assets | 21 | €12,625 | €5,689 | -€6,936 | -54.9% |
| Tangible fixed assets | 22/27 | €1,226,310 | €3,021,702 | +€1.8m | +146% |
| Plant, machinery and equipment | 23 | €251,953 | €503,847 | +€251,894 | +100.0% |
| Furniture and vehicles | 24 | €15,535 | €27,045 | +€11,510 | +74.1% |
| Other tangible fixed assets | 26 | €958,822 | €2,490,810 | +€1.5m | +160% |
| Current assets | 29/58 | €905,187 | €827,226 | -€77,961 | -8.6% |
| Stocks and contracts in progress | 3 | €7,958 | €17,812 | +€9,854 | +124% |
| Stocks | 30/36 | €7,958 | €17,812 | +€9,854 | +124% |
| Amounts receivable within one year | 40/41 | €84,616 | €113,856 | +€29,240 | +34.6% |
| Trade receivables | 40 | €8,069 | €14,148 | +€6,079 | +75.3% |
| Other amounts receivable | 41 | €76,548 | €99,709 | +€23,161 | +30.3% |
| Current investments | 50/53 | €381,211 | €296,081 | -€85,130 | -22.3% |
| Cash at bank and in hand | 54/58 | €427,347 | €391,026 | -€36,320 | -8.5% |
| Deferred charges and accrued income | 490/1 | €4,055 | €8,451 | +€4,396 | +108% |
| Total equity and liabilities | 10/49 | €2,144,122 | €3,854,617 | +€1.7m | +79.8% |
| Equity | 10/15 | €738,945 | €1,421,707 | +€682,763 | +92.4% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €388,945 | €1,071,707 | +€682,763 | +176% |
| Distributable reserves | 133 | €388,945 | €1,071,707 | +€682,763 | +176% |
| Amounts payable | 17/49 | €1,405,177 | €2,432,910 | +€1.0m | +73.1% |
| Amounts payable after more than one year | 17 | €983,409 | €1,210,942 | +€227,534 | +23.1% |
| Financial debts | 170/4 | €983,409 | €1,210,942 | +€227,534 | +23.1% |
| Amounts payable within one year | 42/48 | €421,768 | €1,221,967 | +€800,199 | +190% |
| Current portion of amounts payable after more than one year | 42 | €171,956 | €404,575 | +€232,618 | +135% |
| Financial debts | 43 | €4,965 | €5,021 | +€56 | +1.1% |
| Credit institutions | 430/8 | €4,965 | €5,021 | +€56 | +1.1% |
| Trade debts | 44 | €180,772 | €754,436 | +€573,664 | +317% |
| Suppliers | 440/4 | €180,772 | €754,436 | +€573,664 | +317% |
| Taxes, remuneration and social security | 45 | €63,229 | €57,936 | -€5,293 | -8.4% |
| Taxes | 450/3 | €52,014 | €2,934 | -€49,080 | -94.4% |
| Remuneration and social security | 454/9 | €11,214 | €55,002 | +€43,788 | +390% |
| Other amounts payable | 47/48 | €847 | - | -€847 | |
| Remuneration, social security and pensions | 62 | €109,480 | €259,420 | +€149,940 | +137% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €181,626 | €364,954 | +€183,328 | +101% |
| Other operating charges | 640/8 | €5,977 | €12,234 | +€6,257 | +105% |
| Non-recurring operating charges | 66A | €10,699 | €6,654 | -€4,045 | -37.8% |
| Gross operating margin | 9900 | €718,007 | €1,520,490 | +€802,483 | +112% |
| Operating profit (loss) | 9901 | €410,225 | €877,228 | +€467,003 | +114% |
| Financial income | 75/76B | €8,441 | €53,530 | +€45,089 | +534% |
| Recurring financial income | 75 | €8,441 | €53,530 | +€45,089 | +534% |
| Financial charges | 65/66B | €39,927 | €110,050 | +€70,123 | +176% |
| Recurring financial charges | 65 | €39,927 | €110,050 | +€70,123 | +176% |
| Profit (loss) for the period before taxes | 9903 | €378,739 | €820,708 | +€441,969 | +117% |
| Income taxes | 67/77 | €51,476 | €137,946 | +€86,470 | +168% |
| Profit (loss) for the period | 9904 | €327,263 | €682,763 | +€355,500 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €327,263 | €682,763 | +€355,500 | +109% |
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 15 October 2026 via checked.be.