TS Annio's: 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 Annio's
Largest movements
- Receivables within one year -€86,279
down €86,279 (-35.8%), from €241,321 to €155,042
- Intangible fixed assets -€34,705
down €34,705 (-10.6%), from €328,847 to €294,141
- Tangible fixed assets -€15,314
down €15,314 (-28.0%), from €54,751 to €39,437
- Cash +€10,634
new in 2025: €10,634
mainly Receivables within one year (+€86,279) and Depreciation (+€51,631)
- Deferred charges and accrued income +€8,147
up €8,147 (+483%), from €1,687 to €9,834
- Other debts -€70,000
down €70,000 (-100%), from €70,000 to €0
- Debts after one year -€40,135
down €40,135 (-10.1%), from €395,787 to €355,652
- Short-term financial debts -€24,973
down €24,973 (-100%), from €24,973 to €0
- Reserves +€17,415
new in 2025: €17,415
- Gross operating margin +€150,597
up €150,597 (+75.4%), from €199,749 to €350,346
- Staff costs +€89,131
up €89,131 (+56.0%), from €159,220 to €248,351
- Depreciation +€23,261
up €23,261 (+82.0%), from €28,369 to €51,631
- Taxes +€9,212
up €9,212 (+4,197%), from €220 to €9,432
- Financial charges +€8,689
up €8,689 (+66.2%), from €13,129 to €21,818
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 | €794,111 | €684,595 | -€109,516 | -13.8% |
| Fixed assets | 21/28 | €388,098 | €338,078 | -€50,020 | -12.9% |
| Intangible fixed assets | 21 | €328,847 | €294,141 | -€34,705 | -10.6% |
| Tangible fixed assets | 22/27 | €54,751 | €39,437 | -€15,314 | -28.0% |
| Plant, machinery and equipment | 23 | €54,751 | €39,437 | -€15,314 | -28.0% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €406,013 | €346,517 | -€59,496 | -14.7% |
| Stocks and contracts in progress | 3 | €163,006 | €171,008 | +€8,002 | +4.9% |
| Stocks | 30/36 | €154,354 | €154,630 | +€276 | +0.2% |
| Contracts in progress | 37 | €8,652 | €16,378 | +€7,726 | +89.3% |
| Amounts receivable within one year | 40/41 | €241,321 | €155,042 | -€86,279 | -35.8% |
| Trade receivables | 40 | €241,321 | €155,042 | -€86,279 | -35.8% |
| Cash at bank and in hand | 54/58 | - | €10,634 | +€10,634 | |
| Deferred charges and accrued income | 490/1 | €1,687 | €9,834 | +€8,147 | +483% |
| Total equity and liabilities | 10/49 | €794,111 | €684,595 | -€109,516 | -13.8% |
| Equity | 10/15 | €97,512 | €117,415 | +€19,903 | +20.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | - | €17,415 | +€17,415 | |
| Distributable reserves | 133 | - | €17,415 | +€17,415 | |
| Profit (loss) carried forward | 14 | -€2,488 | €0 | +€2,488 | |
| Amounts payable | 17/49 | €696,599 | €567,180 | -€129,419 | -18.6% |
| Amounts payable after more than one year | 17 | €395,787 | €355,652 | -€40,135 | -10.1% |
| Financial debts | 170/4 | €395,787 | €355,652 | -€40,135 | -10.1% |
| Amounts payable within one year | 42/48 | €295,563 | €206,279 | -€89,284 | -30.2% |
| Current portion of amounts payable after more than one year | 42 | €38,582 | €40,135 | +€1,554 | +4.0% |
| Financial debts | 43 | €24,973 | €0 | -€24,973 | -100% |
| Credit institutions | 430/8 | €24,973 | €0 | -€24,973 | -100% |
| Trade debts | 44 | €99,894 | €97,010 | -€2,884 | -2.9% |
| Suppliers | 440/4 | €99,894 | €97,010 | -€2,884 | -2.9% |
| Taxes, remuneration and social security | 45 | €62,114 | €69,134 | +€7,020 | +11.3% |
| Taxes | 450/3 | €52,515 | €50,611 | -€1,903 | -3.6% |
| Remuneration and social security | 454/9 | €9,599 | €18,523 | +€8,923 | +93.0% |
| Other amounts payable | 47/48 | €70,000 | €0 | -€70,000 | -100% |
| Accrued charges and deferred income | 492/3 | €5,250 | €5,250 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €159,220 | €248,351 | +€89,131 | +56.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,369 | €51,631 | +€23,261 | +82.0% |
| Other operating charges | 640/8 | €1,299 | €1,578 | +€279 | +21.4% |
| Gross operating margin | 9900 | €199,749 | €350,346 | +€150,597 | +75.4% |
| Operating profit (loss) | 9901 | €10,861 | €48,786 | +€37,925 | +349% |
| Financial income | 75/76B | - | €2,367 | +€2,367 | |
| Recurring financial income | 75 | - | €2,367 | +€2,367 | |
| Financial charges | 65/66B | €13,129 | €21,818 | +€8,689 | +66.2% |
| Recurring financial charges | 65 | €13,129 | €21,818 | +€8,689 | +66.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,269 | €29,335 | +€31,603 | |
| Income taxes | 67/77 | €220 | €9,432 | +€9,212 | +4,197% |
| Profit (loss) for the period | 9904 | -€2,488 | €19,903 | +€22,391 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,488 | €19,903 | +€22,391 |
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 27 October 2026 via checked.be.