TS IMMO: 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 IMMO
Largest movements
- Cash -€15,642
down €15,642 (-60.2%), from €25,969 to €10,327
mainly Receivables within one year (-€9,159) and Investment in fixed assets (net) (-€3,000)
- Receivables within one year +€9,159
up €9,159 (+321.9%), from €2,845 to €12,004
of which Trade receivables: +€4,609
- Tangible fixed assets +€3,000
new in 2025: €3,000
- Tax, wage and social debts -€2,755
down €2,755 (-16.5%), from €16,691 to €13,936
of which Taxes: -€2,943
- Profit (loss) carried forward -€2,455
down €2,455 (-48.8%), from €5,034 to €2,579
- Trade debts +€2,333
up €2,333 (+136.3%), from €1,711 to €4,045
- Current portion of long-term debt -€536
down €536 (-29.8%), from €1,800 to €1,264
- Gross operating margin -€20,561
down €20,561 (-27.5%), from €74,728 to €54,167
- Taxes -€5,317
down €5,317 (-92.2%), from €5,766 to €449
- Depreciation -€2,839
no longer reported in 2025 (was €2,839)
- Staff costs +€1,490
up €1,490 (+2.8%), from €53,873 to €55,363
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 | €30,236 | €26,824 | -€3,412 | -11.3% |
| Fixed assets | 21/28 | - | €3,000 | +€3,000 | |
| Tangible fixed assets | 22/27 | - | €3,000 | +€3,000 | |
| Other tangible fixed assets | 26 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €30,236 | €23,824 | -€6,412 | -21.2% |
| Amounts receivable within one year | 40/41 | €2,845 | €12,004 | +€9,159 | +321.9% |
| Trade receivables | 40 | €2,845 | €7,454 | +€4,609 | +162.0% |
| Other amounts receivable | 41 | - | €4,551 | +€4,551 | |
| Cash at bank and in hand | 54/58 | €25,969 | €10,327 | -€15,642 | -60.2% |
| Deferred charges and accrued income | 490/1 | €1,422 | €1,492 | +€70 | +5.0% |
| Total equity and liabilities | 10/49 | €30,236 | €26,824 | -€3,412 | -11.3% |
| Equity | 10/15 | €10,034 | €7,579 | -€2,455 | -24.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,034 | €2,579 | -€2,455 | -48.8% |
| Amounts payable | 17/49 | €20,202 | €19,245 | -€957 | -4.7% |
| Amounts payable within one year | 42/48 | €20,202 | €19,245 | -€957 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €1,800 | €1,264 | -€536 | -29.8% |
| Trade debts | 44 | €1,711 | €4,045 | +€2,333 | +136.3% |
| Suppliers | 440/4 | €1,711 | €4,045 | +€2,333 | +136.3% |
| Taxes, remuneration and social security | 45 | €16,691 | €13,936 | -€2,755 | -16.5% |
| Taxes | 450/3 | €8,440 | €5,497 | -€2,943 | -34.9% |
| Remuneration and social security | 454/9 | €8,251 | €8,439 | +€188 | +2.3% |
| Remuneration, social security and pensions | 62 | €53,873 | €55,363 | +€1,490 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,839 | - | -€2,839 | |
| Other operating charges | 640/8 | €609 | €630 | +€21 | +3.5% |
| Gross operating margin | 9900 | €74,728 | €54,167 | -€20,561 | -27.5% |
| Operating profit (loss) | 9901 | €17,406 | -€1,826 | -€19,232 | |
| Financial charges | 65/66B | €227 | €180 | -€48 | -21.0% |
| Recurring financial charges | 65 | €227 | €180 | -€48 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €17,179 | -€2,006 | -€19,184 | |
| Income taxes | 67/77 | €5,766 | €449 | -€5,317 | -92.2% |
| Profit (loss) for the period | 9904 | €11,412 | -€2,455 | -€13,867 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,412 | -€2,455 | -€13,867 |
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 2 October 2026 via checked.be.