TS BELGIUM: 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 BELGIUM
Largest movements
- Receivables within one year +€600,437
up €600,437 (+73.9%), from €812,960 to €1.4m
of which Other amounts receivable: +€850,809
- Financial fixed assets -€295,212
down €295,212 (-100%), from €295,212 to €0
- Cash +€262,224
up €262,224 (+79.5%), from €329,639 to €591,863
mainly Other debts (+€1.0m) and Net result for the year (+€820,568)
- Stocks and contracts -€232,339
down €232,339 (-32.3%), from €719,410 to €487,071
- Receivables after one year -€81,651
down €81,651 (-100%), from €81,651 to €0
- Other debts +€1.0m
up €1.0m (+7,063,488%), from €14 to €1.0m
- Trade debts -€336,742
down €336,742 (-49.2%), from €684,060 to €347,318
- Short-term financial debts -€200,567
down €200,567 (-27.2%), from €738,213 to €537,645
- Reserves -€181,048
down €181,048 (-24.6%), from €736,732 to €555,683
- Current portion of long-term debt -€42,581
down €42,581 (-100%), from €42,581 to €0
- Financial income +€579,125
up €579,125 (+5,272%), from €10,986 to €590,110
of which Non-recurring financial income: +€586,872
- Gross operating margin +€70,421
up €70,421 (+22.0%), from €319,604 to €390,024
- Taxes +€20,394
up €20,394 (+34.1%), from €59,887 to €80,281
- Other operating charges -€15,349
down €15,349 (-88.4%), from €17,367 to €2,018
- Write-downs -€10,910
down €10,910 (-43.3%), from €25,223 to €14,313
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,308,152 | €2,504,960 | +€196,809 | +8.5% |
| Fixed assets | 21/28 | €302,270 | €9,787 | -€292,483 | -96.8% |
| Tangible fixed assets | 22/27 | €7,058 | €9,787 | +€2,729 | +38.7% |
| Plant, machinery and equipment | 23 | €5,124 | €3,894 | -€1,230 | -24.0% |
| Furniture and vehicles | 24 | €0 | €4,525 | +€4,525 | |
| Other tangible fixed assets | 26 | €1,934 | €1,369 | -€565 | -29.2% |
| Financial fixed assets | 28 | €295,212 | €0 | -€295,212 | -100% |
| Current assets | 29/58 | €2,005,881 | €2,495,173 | +€489,292 | +24.4% |
| Amounts receivable after more than one year | 29 | €81,651 | €0 | -€81,651 | -100% |
| Other amounts receivable | 291 | €81,651 | €0 | -€81,651 | -100% |
| Stocks and contracts in progress | 3 | €719,410 | €487,071 | -€232,339 | -32.3% |
| Stocks | 30/36 | €719,410 | €487,071 | -€232,339 | -32.3% |
| Amounts receivable within one year | 40/41 | €812,960 | €1,413,397 | +€600,437 | +73.9% |
| Trade receivables | 40 | €558,726 | €308,353 | -€250,372 | -44.8% |
| Other amounts receivable | 41 | €254,235 | €1,105,044 | +€850,809 | +335% |
| Cash at bank and in hand | 54/58 | €329,639 | €591,863 | +€262,224 | +79.5% |
| Deferred charges and accrued income | 490/1 | €62,221 | €2,841 | -€59,380 | -95.4% |
| Total equity and liabilities | 10/49 | €2,308,152 | €2,504,960 | +€196,809 | +8.5% |
| Equity | 10/15 | €755,332 | €574,283 | -€181,048 | -24.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €736,732 | €555,683 | -€181,048 | -24.6% |
| Distributable reserves | 133 | €736,732 | €555,683 | -€181,048 | -24.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €1,552,820 | €1,930,677 | +€377,857 | +24.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,547,471 | €1,930,677 | +€383,206 | +24.8% |
| Current portion of amounts payable after more than one year | 42 | €42,581 | €0 | -€42,581 | -100% |
| Financial debts | 43 | €738,213 | €537,645 | -€200,567 | -27.2% |
| Credit institutions | 430/8 | €738,213 | €537,645 | -€200,567 | -27.2% |
| Trade debts | 44 | €684,060 | €347,318 | -€336,742 | -49.2% |
| Suppliers | 440/4 | €684,060 | €347,318 | -€336,742 | -49.2% |
| Taxes, remuneration and social security | 45 | €82,603 | €44,097 | -€38,506 | -46.6% |
| Taxes | 450/3 | €82,603 | €44,097 | -€38,506 | -46.6% |
| Other amounts payable | 47/48 | €14 | €1,001,617 | +€1.0m | +7,063,488% |
| Accrued charges and deferred income | 492/3 | €5,349 | €0 | -€5,349 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,084 | €2,210 | -€874 | -28.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €25,223 | €14,313 | -€10,910 | -43.3% |
| Other operating charges | 640/8 | €17,367 | €2,018 | -€15,349 | -88.4% |
| Gross operating margin | 9900 | €319,604 | €390,024 | +€70,421 | +22.0% |
| Operating profit (loss) | 9901 | €273,930 | €371,483 | +€97,553 | +35.6% |
| Financial income | 75/76B | €10,986 | €590,110 | +€579,125 | +5,272% |
| Recurring financial income | 75 | €10,986 | €3,239 | -€7,747 | -70.5% |
| Non-recurring financial income | 76B | - | €586,872 | +€586,872 | |
| Financial charges | 65/66B | €64,603 | €60,744 | -€3,859 | -6.0% |
| Recurring financial charges | 65 | €64,603 | €60,744 | -€3,859 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €220,312 | €900,849 | +€680,537 | +309% |
| Income taxes | 67/77 | €59,887 | €80,281 | +€20,394 | +34.1% |
| Profit (loss) for the period | 9904 | €160,425 | €820,568 | +€660,143 | +411% |
| Profit (loss) for the period to be appropriated | 9905 | €160,425 | €820,568 | +€660,143 | +411% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.