TS ART: 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 ART
Largest movements
- Receivables within one year -€13,039
down €13,039 (-65.7%), from €19,852 to €6,813
of which Other amounts receivable: -€7,234
- Cash +€9,355
up €9,355 (+203%), from €4,605 to €13,960
mainly Receivables within one year (+€13,039) and Stocks and contracts (+€7,569)
- Stocks and contracts -€7,569
down €7,569 (-36.1%), from €20,983 to €13,414
- Tangible fixed assets -€2,119
down €2,119 (-16.4%), from €12,931 to €10,812
of which Other tangible fixed assets: -€1,394
- Other debts -€16,127
down €16,127 (-13.1%), from €123,433 to €107,306
- Debts after one year +€5,500
up €5,500 (+50.0%), from €11,000 to €16,500
- Profit (loss) carried forward -€1,696
down €1,696 (-2.1%), from -€81,974 to -€83,670
- Trade debts -€1,048
down €1,048 (-30.7%), from €3,412 to €2,363
- Gross operating margin +€48,301
up €48,301, from -€45,848 to €2,453
- Financial charges -€964
down €964 (-44.7%), from €2,159 to €1,194
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 | €58,371 | €44,999 | -€13,372 | -22.9% |
| Fixed assets | 21/28 | €12,931 | €10,812 | -€2,119 | -16.4% |
| Tangible fixed assets | 22/27 | €12,931 | €10,812 | -€2,119 | -16.4% |
| Plant, machinery and equipment | 23 | €218 | €147 | -€71 | -32.4% |
| Furniture and vehicles | 24 | €1,434 | €779 | -€655 | -45.7% |
| Other tangible fixed assets | 26 | €11,279 | €9,885 | -€1,394 | -12.4% |
| Current assets | 29/58 | €45,440 | €34,187 | -€11,253 | -24.8% |
| Stocks and contracts in progress | 3 | €20,983 | €13,414 | -€7,569 | -36.1% |
| Stocks | 30/36 | €20,983 | €13,414 | -€7,569 | -36.1% |
| Amounts receivable within one year | 40/41 | €19,852 | €6,813 | -€13,039 | -65.7% |
| Trade receivables | 40 | €12,377 | €6,572 | -€5,805 | -46.9% |
| Other amounts receivable | 41 | €7,475 | €241 | -€7,234 | -96.8% |
| Cash at bank and in hand | 54/58 | €4,605 | €13,960 | +€9,355 | +203% |
| Total equity and liabilities | 10/49 | €58,371 | €44,999 | -€13,372 | -22.9% |
| Equity | 10/15 | -€79,474 | -€81,170 | -€1,696 | -2.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,974 | -€83,670 | -€1,696 | -2.1% |
| Amounts payable | 17/49 | €137,845 | €126,169 | -€11,676 | -8.5% |
| Amounts payable after more than one year | 17 | €11,000 | €16,500 | +€5,500 | +50.0% |
| Financial debts | 170/4 | €11,000 | €16,500 | +€5,500 | +50.0% |
| Amounts payable within one year | 42/48 | €126,845 | €109,669 | -€17,176 | -13.5% |
| Trade debts | 44 | €3,412 | €2,363 | -€1,048 | -30.7% |
| Suppliers | 440/4 | €3,412 | €2,363 | -€1,048 | -30.7% |
| Other amounts payable | 47/48 | €123,433 | €107,306 | -€16,127 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,871 | €2,119 | +€248 | +13.3% |
| Other operating charges | 640/8 | €352 | €682 | +€330 | +93.8% |
| Gross operating margin | 9900 | -€45,848 | €2,453 | +€48,301 | |
| Operating profit (loss) | 9901 | -€48,071 | -€348 | +€47,722 | +99.3% |
| Financial income | 75/76B | €64 | - | -€64 | |
| Recurring financial income | 75 | €64 | - | -€64 | |
| Financial charges | 65/66B | €2,159 | €1,194 | -€964 | -44.7% |
| Recurring financial charges | 65 | €2,159 | €1,194 | -€964 | -44.7% |
| Profit (loss) for the period before taxes | 9903 | -€50,165 | -€1,543 | +€48,623 | +96.9% |
| Income taxes | 67/77 | €253 | €154 | -€99 | -39.3% |
| Profit (loss) for the period | 9904 | -€50,419 | -€1,696 | +€48,722 | +96.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€50,419 | -€1,696 | +€48,722 | +96.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.