TS-CO: what changed
Two fiscal 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-CO
Largest movements
- Cash +€52,430
up €52,430 (+77.9%), from €67,294 to €119,723
mainly Net result for the year (+€44,974) and Tax, wage and social debts (+€11,938)
- Tangible fixed assets -€5,321
down €5,321 (-23.9%), from €22,246 to €16,925
- Profit (loss) carried forward +€44,974
up €44,974 (+82.7%), from €54,368 to €99,342
- Tax, wage and social debts +€11,938
up €11,938 (+61.5%), from €19,408 to €31,345
of which Taxes: +€11,939
- Debts after one year -€7,330
no longer reported in 2025 (was €7,330)
- Other debts -€3,044
down €3,044 (-41.7%), from €7,297 to €4,253
- Gross operating margin -€12,987
down €12,987 (-16.4%), from €79,012 to €66,025
- Depreciation -€2,579
down €2,579 (-29.3%), from €8,795 to €6,215
- Taxes -€2,327
down €2,327 (-16.5%), from €14,069 to €11,742
- Financial charges +€1,148
up €1,148 (+75.0%), from €1,530 to €2,678
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.
Cash bridge derived
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 | €100,244 | €147,720 | +€47,477 | +47.4% |
| Fixed assets | 21/28 | €22,246 | €16,925 | -€5,321 | -23.9% |
| Tangible fixed assets | 22/27 | €22,246 | €16,925 | -€5,321 | -23.9% |
| Furniture and vehicles | 24 | €22,246 | €16,925 | -€5,321 | -23.9% |
| Current assets | 29/58 | €77,998 | €130,795 | +€52,797 | +67.7% |
| Amounts receivable within one year | 40/41 | €10,704 | €11,046 | +€342 | +3.2% |
| Trade receivables | 40 | €10,479 | €10,821 | +€342 | +3.3% |
| Other amounts receivable | 41 | €225 | €225 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €67,294 | €119,723 | +€52,430 | +77.9% |
| Deferred charges and accrued income | 490/1 | - | €26 | +€26 | |
| Total equity and liabilities | 10/49 | €100,244 | €147,720 | +€47,477 | +47.4% |
| Equity | 10/15 | €57,368 | €102,342 | +€44,974 | +78.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,368 | €99,342 | +€44,974 | +82.7% |
| Amounts payable | 17/49 | €42,875 | €45,378 | +€2,503 | +5.8% |
| Amounts payable after more than one year | 17 | €7,330 | - | -€7,330 | |
| Financial debts | 170/4 | €7,330 | - | -€7,330 | |
| Amounts payable within one year | 42/48 | €35,546 | €45,378 | +€9,832 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €8,777 | €8,629 | -€148 | -1.7% |
| Trade debts | 44 | €65 | €1,151 | +€1,086 | +1679.9% |
| Suppliers | 440/4 | €65 | €1,151 | +€1,086 | +1679.9% |
| Taxes, remuneration and social security | 45 | €19,408 | €31,345 | +€11,938 | +61.5% |
| Taxes | 450/3 | €19,406 | €31,345 | +€11,939 | +61.5% |
| Remuneration and social security | 454/9 | €1 | - | -€1 | |
| Other amounts payable | 47/48 | €7,297 | €4,253 | -€3,044 | -41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,795 | €6,215 | -€2,579 | -29.3% |
| Other operating charges | 640/8 | €290 | €415 | +€125 | +43.2% |
| Gross operating margin | 9900 | €79,012 | €66,025 | -€12,987 | -16.4% |
| Operating profit (loss) | 9901 | €69,927 | €59,394 | -€10,533 | -15.1% |
| Financial income | 75/76B | €40 | - | -€40 | |
| Recurring financial income | 75 | €40 | - | -€40 | |
| Financial charges | 65/66B | €1,530 | €2,678 | +€1,148 | +75.0% |
| Recurring financial charges | 65 | €1,530 | €2,678 | +€1,148 | +75.0% |
| Profit (loss) for the period before taxes | 9903 | €68,437 | €56,716 | -€11,721 | -17.1% |
| Income taxes | 67/77 | €14,069 | €11,742 | -€2,327 | -16.5% |
| Profit (loss) for the period | 9904 | €54,368 | €44,974 | -€9,394 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €54,368 | €44,974 | -€9,394 | -17.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.