TS ADVISORY: 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.
TS ADVISORY
Largest movements
- Receivables within one year +€12,295
up €12,295 (+229.6%), from €5,355 to €17,650
of which Trade receivables: +€7,232
- Intangible fixed assets -€8,392
down €8,392 (-76.1%), from €11,023 to €2,631
- Cash +€4,141
up €4,141 (+150.5%), from €2,752 to €6,893
mainly Depreciation (+€9,091) and Net result for the year (+€9,029)
- Deferred charges and accrued income +€2,495
new in 2025: €2,495
- Tangible fixed assets +€1,275
up €1,275 (+330.8%), from €385 to €1,660
- Reserves +€9,029
up €9,029 (+98.7%), from €9,145 to €18,174
- Tax, wage and social debts +€3,396
up €3,396 (+73.5%), from €4,620 to €8,016
- Trade debts -€612
down €612 (-22.2%), from €2,749 to €2,138
- Gross operating margin +€7,904
up €7,904 (+45.9%), from €17,204 to €25,108
- Taxes +€1,926
up €1,926 (+76.1%), from €2,532 to €4,458
- Financial charges +€1,851
up €1,851 (+1748.7%), from €106 to €1,957
- Depreciation -€1,158
down €1,158 (-11.3%), from €10,249 to €9,091
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 | €19,515 | €31,328 | +€11,813 | +60.5% |
| Fixed assets | 21/28 | €11,408 | €4,291 | -€7,117 | -62.4% |
| Intangible fixed assets | 21 | €11,023 | €2,631 | -€8,392 | -76.1% |
| Tangible fixed assets | 22/27 | €385 | €1,660 | +€1,275 | +330.8% |
| Furniture and vehicles | 24 | €385 | €1,660 | +€1,275 | +330.8% |
| Current assets | 29/58 | €8,107 | €27,037 | +€18,931 | +233.5% |
| Amounts receivable within one year | 40/41 | €5,355 | €17,650 | +€12,295 | +229.6% |
| Trade receivables | 40 | €5,318 | €12,550 | +€7,232 | +136.0% |
| Other amounts receivable | 41 | €36 | €5,100 | +€5,063 | +13952.7% |
| Cash at bank and in hand | 54/58 | €2,752 | €6,893 | +€4,141 | +150.5% |
| Deferred charges and accrued income | 490/1 | - | €2,495 | +€2,495 | |
| Total equity and liabilities | 10/49 | €19,515 | €31,328 | +€11,813 | +60.5% |
| Equity | 10/15 | €12,145 | €21,174 | +€9,029 | +74.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €9,145 | €18,174 | +€9,029 | +98.7% |
| Distributable reserves | 133 | €9,145 | €18,174 | +€9,029 | +98.7% |
| Amounts payable | 17/49 | €7,370 | €10,154 | +€2,785 | +37.8% |
| Amounts payable within one year | 42/48 | €7,370 | €10,154 | +€2,785 | +37.8% |
| Trade debts | 44 | €2,749 | €2,138 | -€612 | -22.2% |
| Suppliers | 440/4 | €2,749 | €2,138 | -€612 | -22.2% |
| Taxes, remuneration and social security | 45 | €4,620 | €8,016 | +€3,396 | +73.5% |
| Taxes | 450/3 | €4,620 | €8,016 | +€3,396 | +73.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,249 | €9,091 | -€1,158 | -11.3% |
| Other operating charges | 640/8 | €617 | €574 | -€44 | -7.1% |
| Gross operating margin | 9900 | €17,204 | €25,108 | +€7,904 | +45.9% |
| Operating profit (loss) | 9901 | €6,337 | €15,443 | +€9,106 | +143.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €106 | €1,957 | +€1,851 | +1748.7% |
| Recurring financial charges | 65 | €106 | €1,957 | +€1,851 | +1748.7% |
| Profit (loss) for the period before taxes | 9903 | €6,232 | €13,486 | +€7,255 | +116.4% |
| Income taxes | 67/77 | €2,532 | €4,458 | +€1,926 | +76.1% |
| Profit (loss) for the period | 9904 | €3,700 | €9,029 | +€5,329 | +144.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,700 | €9,029 | +€5,329 | +144.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.