TS Executive: 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 Executive
Largest movements
- Receivables within one year -€9,382
down €9,382 (-60.7%), from €15,467 to €6,085
of which Trade receivables: -€5,410
- Profit (loss) carried forward -€28,326
new in 2025: -€28,326
- Other debts +€16,136
up €16,136 (+29.0%), from €55,642 to €71,779
- Trade debts +€7,961
up €7,961 (+4,212%), from €189 to €8,150
- Tax, wage and social debts -€5,000
down €5,000 (-74.2%), from €6,740 to €1,741
- Gross operating margin -€32,245
down €32,245, from €4,625 to -€27,620
- Taxes -€1,028
no longer reported in 2025 (was €1,028)
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 | €65,572 | €56,343 | -€9,228 | -14.1% |
| Fixed assets | 21/28 | €377 | €189 | -€188 | -49.9% |
| Tangible fixed assets | 22/27 | €188 | €0 | -€188 | -100% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €188 | €0 | -€188 | -100% |
| Financial fixed assets | 28 | €189 | €189 | = | 0.0% |
| Current assets | 29/58 | €65,195 | €56,154 | -€9,041 | -13.9% |
| Amounts receivable within one year | 40/41 | €15,467 | €6,085 | -€9,382 | -60.7% |
| Trade receivables | 40 | €11,495 | €6,085 | -€5,410 | -47.1% |
| Other amounts receivable | 41 | €3,972 | - | -€3,972 | |
| Cash at bank and in hand | 54/58 | €49,728 | €49,849 | +€121 | +0.2% |
| Deferred charges and accrued income | 490/1 | - | €221 | +€221 | |
| Total equity and liabilities | 10/49 | €65,572 | €56,343 | -€9,228 | -14.1% |
| Equity | 10/15 | €3,000 | -€25,326 | -€28,326 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€28,326 | -€28,326 | |
| Amounts payable | 17/49 | €62,572 | €81,669 | +€19,098 | +30.5% |
| Amounts payable within one year | 42/48 | €62,572 | €81,669 | +€19,098 | +30.5% |
| Trade debts | 44 | €189 | €8,150 | +€7,961 | +4,212% |
| Suppliers | 440/4 | €189 | €8,150 | +€7,961 | +4,212% |
| Taxes, remuneration and social security | 45 | €6,740 | €1,741 | -€5,000 | -74.2% |
| Taxes | 450/3 | €6,740 | €1,741 | -€5,000 | -74.2% |
| Other amounts payable | 47/48 | €55,642 | €71,779 | +€16,136 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213 | €188 | -€25 | -11.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €4,625 | -€27,620 | -€32,245 | |
| Operating profit (loss) | 9901 | €4,025 | -€28,208 | -€32,233 | |
| Financial charges | 65/66B | €134 | €118 | -€16 | -11.8% |
| Recurring financial charges | 65 | €134 | €118 | -€16 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €3,891 | -€28,326 | -€32,217 | |
| Income taxes | 67/77 | €1,028 | - | -€1,028 | |
| Profit (loss) for the period | 9904 | €2,863 | -€28,326 | -€31,189 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,863 | -€28,326 | -€31,189 |
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 1 November 2026 via checked.be.