TS Agency: 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.
TS Agency
Largest movements
- Cash -€11,598
down €11,598 (-58.7%), from €19,751 to €8,152
mainly Contributions, distributions and other (-€20,000) and Tax, wage and social debts (-€9,550)
- Receivables within one year +€3,552
up €3,552 (+7.1%), from €50,227 to €53,779
of which Trade receivables: +€8,035
- Tangible fixed assets +€2,016
new in 2025: €2,016
- Trade debts +€25,061
up €25,061 (+182%), from €13,760 to €38,821
- Profit (loss) carried forward -€21,542
down €21,542 (-83.5%), from €25,812 to €4,270
- Tax, wage and social debts -€9,550
down €9,550 (-91.8%), from €10,406 to €856
- Gross operating margin -€21,238
down €21,238 (-86.3%), from €24,609 to €3,370
- Write-downs -€11,850
no longer reported in 2025 (was €11,850)
- Taxes -€1,816
down €1,816 (-40.8%), from €4,445 to €2,630
- Depreciation +€653
new in 2025: €653
- Other operating charges -€558
down €558 (-43.8%), from €1,273 to €715
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 | €69,977 | €63,947 | -€6,030 | -8.6% |
| Fixed assets | 21/28 | - | €2,016 | +€2,016 | |
| Tangible fixed assets | 22/27 | - | €2,016 | +€2,016 | |
| Furniture and vehicles | 24 | - | €2,016 | +€2,016 | |
| Current assets | 29/58 | €69,977 | €61,931 | -€8,046 | -11.5% |
| Amounts receivable within one year | 40/41 | €50,227 | €53,779 | +€3,552 | +7.1% |
| Trade receivables | 40 | €44,273 | €52,308 | +€8,035 | +18.1% |
| Other amounts receivable | 41 | €5,954 | €1,471 | -€4,483 | -75.3% |
| Cash at bank and in hand | 54/58 | €19,751 | €8,152 | -€11,598 | -58.7% |
| Total equity and liabilities | 10/49 | €69,977 | €63,947 | -€6,030 | -8.6% |
| Equity | 10/15 | €45,812 | €24,270 | -€21,542 | -47.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €18,000 | €18,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,812 | €4,270 | -€21,542 | -83.5% |
| Amounts payable | 17/49 | €24,165 | €39,677 | +€15,511 | +64.2% |
| Amounts payable within one year | 42/48 | €24,165 | €39,677 | +€15,511 | +64.2% |
| Trade debts | 44 | €13,760 | €38,821 | +€25,061 | +182% |
| Suppliers | 440/4 | €13,760 | €38,821 | +€25,061 | +182% |
| Taxes, remuneration and social security | 45 | €10,406 | €856 | -€9,550 | -91.8% |
| Taxes | 450/3 | €10,406 | €856 | -€9,550 | -91.8% |
| Non-recurring operating income | 76A | €70 | - | -€70 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €653 | +€653 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,850 | - | -€11,850 | |
| Other operating charges | 640/8 | €1,273 | €715 | -€558 | -43.8% |
| Gross operating margin | 9900 | €24,609 | €3,370 | -€21,238 | -86.3% |
| Operating profit (loss) | 9901 | €11,486 | €2,003 | -€9,483 | -82.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,168 | €915 | -€254 | -21.7% |
| Recurring financial charges | 65 | €1,168 | €915 | -€254 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €10,317 | €1,088 | -€9,230 | -89.5% |
| Income taxes | 67/77 | €4,445 | €2,630 | -€1,816 | -40.8% |
| Profit (loss) for the period | 9904 | €5,872 | -€1,542 | -€7,414 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,872 | -€1,542 | -€7,414 |
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 25 October 2026 via checked.be.