TS Engineering: 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 Engineering
Largest movements
- Cash +€48,913
up €48,913 (+120.6%), from €40,556 to €89,469
mainly Net result for the year (+€44,419) and Current portion of long-term debt (+€11,686)
- Tangible fixed assets +€12,128
up €12,128 (+497.6%), from €2,437 to €14,565
of which Furniture and vehicles: +€12,618
- Receivables within one year +€3,319
up €3,319 (+28.1%), from €11,798 to €15,117
- Reserves +€44,419
up €44,419 (+128.2%), from €34,644 to €79,063
- Current portion of long-term debt +€11,686
new in 2025: €11,686
- Trade debts +€2,987
new in 2025: €2,987
- Tax, wage and social debts +€2,694
up €2,694 (+17.1%), from €15,768 to €18,462
- Other debts +€2,574
up €2,574 (+128.9%), from €1,996 to €4,570
- Gross operating margin +€20,529
up €20,529 (+45.0%), from €45,574 to €66,103
- Taxes +€4,173
up €4,173 (+47.1%), from €8,854 to €13,027
- Staff costs +€3,475
up €3,475 (+472.1%), from €736 to €4,211
- Depreciation +€1,453
up €1,453 (+113.1%), from €1,285 to €2,738
- Other operating charges +€1,185
new in 2025: €1,185
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 | €54,791 | €119,152 | +€64,361 | +117.5% |
| Fixed assets | 21/28 | €2,437 | €14,565 | +€12,128 | +497.6% |
| Tangible fixed assets | 22/27 | €2,437 | €14,565 | +€12,128 | +497.6% |
| Furniture and vehicles | 24 | - | €12,618 | +€12,618 | |
| Other tangible fixed assets | 26 | €2,437 | €1,947 | -€491 | -20.1% |
| Current assets | 29/58 | €52,353 | €104,586 | +€52,233 | +99.8% |
| Amounts receivable within one year | 40/41 | €11,798 | €15,117 | +€3,319 | +28.1% |
| Trade receivables | 40 | €11,798 | €15,117 | +€3,319 | +28.1% |
| Cash at bank and in hand | 54/58 | €40,556 | €89,469 | +€48,913 | +120.6% |
| Total equity and liabilities | 10/49 | €54,791 | €119,152 | +€64,361 | +117.5% |
| Equity | 10/15 | €36,144 | €80,563 | +€44,419 | +122.9% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | - | €1,500 | +€1,500 | |
| Issued capital | 100 | - | €1,500 | +€1,500 | |
| Reserves | 13 | €34,644 | €79,063 | +€44,419 | +128.2% |
| Distributable reserves | 133 | €34,644 | €79,063 | +€44,419 | +128.2% |
| Amounts payable | 17/49 | €18,647 | €38,589 | +€19,941 | +106.9% |
| Amounts payable within one year | 42/48 | €17,764 | €37,705 | +€19,941 | +112.3% |
| Current portion of amounts payable after more than one year | 42 | - | €11,686 | +€11,686 | |
| Trade debts | 44 | - | €2,987 | +€2,987 | |
| Suppliers | 440/4 | - | €2,987 | +€2,987 | |
| Taxes, remuneration and social security | 45 | €15,768 | €18,462 | +€2,694 | +17.1% |
| Taxes | 450/3 | €15,768 | €18,462 | +€2,694 | +17.1% |
| Other amounts payable | 47/48 | €1,996 | €4,570 | +€2,574 | +128.9% |
| Accrued charges and deferred income | 492/3 | €883 | €883 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €736 | €4,211 | +€3,475 | +472.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,285 | €2,738 | +€1,453 | +113.1% |
| Other operating charges | 640/8 | - | €1,185 | +€1,185 | |
| Gross operating margin | 9900 | €45,574 | €66,103 | +€20,529 | +45.0% |
| Operating profit (loss) | 9901 | €43,554 | €57,970 | +€14,417 | +33.1% |
| Financial charges | 65/66B | €56 | €524 | +€468 | +840.3% |
| Recurring financial charges | 65 | €56 | €524 | +€468 | +840.3% |
| Profit (loss) for the period before taxes | 9903 | €43,498 | €57,446 | +€13,948 | +32.1% |
| Income taxes | 67/77 | €8,854 | €13,027 | +€4,173 | +47.1% |
| Profit (loss) for the period | 9904 | €34,644 | €44,419 | +€9,775 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,644 | €44,419 | +€9,775 | +28.2% |
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 7 October 2026 via checked.be.