TS-BORREY: 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-BORREY
Largest movements
- Tangible fixed assets -€6,471
down €6,471 (-28.6%), from €22,647 to €16,177
of which Furniture and vehicles: -€6,361
- Receivables within one year +€4,060
up €4,060 (+25.7%), from €15,786 to €19,845
of which Trade receivables: +€4,683
- Cash -€2,272
down €2,272 (-6.7%), from €34,157 to €31,885
mainly Contributions, distributions and other (-€13,686) and Tax, wage and social debts (-€4,682)
- Tax, wage and social debts -€4,682
down €4,682 (-80.8%), from €5,793 to €1,111
- Profit (loss) carried forward +€1,975
up €1,975 (+3.4%), from €58,035 to €60,010
- Current portion of long-term debt -€1,316
down €1,316 (-65.4%), from €2,014 to €698
- Gross operating margin -€13,860
down €13,860 (-28.8%), from €48,172 to €34,312
- Taxes -€3,190
down €3,190 (-27.7%), from €11,522 to €8,331
- Other operating charges +€985
up €985 (+54.4%), from €1,810 to €2,795
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 | €72,983 | €68,117 | -€4,866 | -6.7% |
| Fixed assets | 21/28 | €22,647 | €16,177 | -€6,471 | -28.6% |
| Tangible fixed assets | 22/27 | €22,647 | €16,177 | -€6,471 | -28.6% |
| Plant, machinery and equipment | 23 | €902 | €792 | -€110 | -12.2% |
| Furniture and vehicles | 24 | €21,745 | €15,384 | -€6,361 | -29.3% |
| Current assets | 29/58 | €50,336 | €51,940 | +€1,605 | +3.2% |
| Amounts receivable within one year | 40/41 | €15,786 | €19,845 | +€4,060 | +25.7% |
| Trade receivables | 40 | €4,837 | €9,519 | +€4,683 | +96.8% |
| Other amounts receivable | 41 | €10,949 | €10,326 | -€623 | -5.7% |
| Cash at bank and in hand | 54/58 | €34,157 | €31,885 | -€2,272 | -6.7% |
| Deferred charges and accrued income | 490/1 | €393 | €210 | -€183 | -46.6% |
| Total equity and liabilities | 10/49 | €72,983 | €68,117 | -€4,866 | -6.7% |
| Equity | 10/15 | €63,035 | €65,010 | +€1,975 | +3.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,035 | €60,010 | +€1,975 | +3.4% |
| Amounts payable | 17/49 | €9,948 | €3,108 | -€6,841 | -68.8% |
| Amounts payable after more than one year | 17 | €698 | €0 | -€698 | -100% |
| Financial debts | 170/4 | €698 | €0 | -€698 | -100% |
| Amounts payable within one year | 42/48 | €9,251 | €3,108 | -€6,143 | -66.4% |
| Current portion of amounts payable after more than one year | 42 | €2,014 | €698 | -€1,316 | -65.4% |
| Trade debts | 44 | €1,444 | €1,299 | -€145 | -10.0% |
| Suppliers | 440/4 | €1,444 | €1,299 | -€145 | -10.0% |
| Taxes, remuneration and social security | 45 | €5,793 | €1,111 | -€4,682 | -80.8% |
| Taxes | 450/3 | €5,793 | €1,111 | -€4,682 | -80.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,333 | €7,601 | +€268 | +3.7% |
| Other operating charges | 640/8 | €1,810 | €2,795 | +€985 | +54.4% |
| Gross operating margin | 9900 | €48,172 | €34,312 | -€13,860 | -28.8% |
| Operating profit (loss) | 9901 | €39,029 | €23,916 | -€15,114 | -38.7% |
| Financial income | 75/76B | €170 | €306 | +€136 | +80.1% |
| Recurring financial income | 75 | €170 | €306 | +€136 | +80.1% |
| Financial charges | 65/66B | €331 | €229 | -€103 | -31.0% |
| Recurring financial charges | 65 | €331 | €229 | -€103 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €38,868 | €23,993 | -€14,875 | -38.3% |
| Income taxes | 67/77 | €11,522 | €8,331 | -€3,190 | -27.7% |
| Profit (loss) for the period | 9904 | €27,346 | €15,661 | -€11,685 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,346 | €15,661 | -€11,685 | -42.7% |
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 19 October 2026 via checked.be.