TS7: 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.
TS7
Largest movements
- Receivables within one year -€99,946
down €99,946 (-86.4%), from €115,733 to €15,788
of which Trade receivables: -€93,693
- Cash +€57,283
up €57,283 (+241.7%), from €23,702 to €80,985
mainly Receivables within one year (+€99,946) and Depreciation (+€59,389)
- Tangible fixed assets -€54,553
down €54,553 (-10.0%), from €544,202 to €489,649
of which Land and buildings: -€44,869
- Debts after one year -€68,408
down €68,408 (-28.7%), from €238,622 to €170,215
- Trade debts -€52,729
down €52,729 (-20.4%), from €258,522 to €205,793
- Reserves +€23,300
up €23,300 (+224.0%), from €10,400 to €33,700
- Gross operating margin +€11,564
up €11,564 (+12.7%), from €91,150 to €102,714
- Taxes +€3,643
up €3,643 (+136.8%), from €2,664 to €6,307
- Financial charges -€1,882
down €1,882 (-18.9%), from €9,978 to €8,096
- Other operating charges +€1,783
up €1,783 (+45.7%), from €3,904 to €5,687
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 | €691,644 | €594,428 | -€97,216 | -14.1% |
| Fixed assets | 21/28 | €552,209 | €497,656 | -€54,553 | -9.9% |
| Tangible fixed assets | 22/27 | €544,202 | €489,649 | -€54,553 | -10.0% |
| Land and buildings | 22 | €440,382 | €395,513 | -€44,869 | -10.2% |
| Plant, machinery and equipment | 23 | €103,820 | €94,137 | -€9,684 | -9.3% |
| Financial fixed assets | 28 | €8,006 | €8,006 | = | 0.0% |
| Current assets | 29/58 | €139,435 | €96,772 | -€42,663 | -30.6% |
| Amounts receivable within one year | 40/41 | €115,733 | €15,788 | -€99,946 | -86.4% |
| Trade receivables | 40 | €93,693 | €0 | -€93,693 | -100.0% |
| Other amounts receivable | 41 | €22,040 | €15,788 | -€6,253 | -28.4% |
| Cash at bank and in hand | 54/58 | €23,702 | €80,985 | +€57,283 | +241.7% |
| Total equity and liabilities | 10/49 | €691,644 | €594,428 | -€97,216 | -14.1% |
| Equity | 10/15 | €90,470 | €113,705 | +€23,236 | +25.7% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €10,400 | €33,700 | +€23,300 | +224.0% |
| Distributable reserves | 133 | €10,400 | €33,700 | +€23,300 | +224.0% |
| Profit (loss) carried forward | 14 | €70 | €5 | -€64 | -92.4% |
| Amounts payable | 17/49 | €601,175 | €480,723 | -€120,452 | -20.0% |
| Amounts payable after more than one year | 17 | €238,622 | €170,215 | -€68,408 | -28.7% |
| Financial debts | 170/4 | €238,622 | €170,215 | -€68,408 | -28.7% |
| Amounts payable within one year | 42/48 | €357,853 | €310,508 | -€47,345 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €66,666 | €68,408 | +€1,741 | +2.6% |
| Trade debts | 44 | €258,522 | €205,793 | -€52,729 | -20.4% |
| Suppliers | 440/4 | €258,522 | €205,793 | -€52,729 | -20.4% |
| Taxes, remuneration and social security | 45 | €2,664 | €6,307 | +€3,643 | +136.8% |
| Taxes | 450/3 | €2,664 | €6,307 | +€3,643 | +136.8% |
| Other amounts payable | 47/48 | €30,000 | €30,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,699 | €0 | -€4,699 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,926 | €59,389 | +€463 | +0.8% |
| Other operating charges | 640/8 | €3,904 | €5,687 | +€1,783 | +45.7% |
| Gross operating margin | 9900 | €91,150 | €102,714 | +€11,564 | +12.7% |
| Operating profit (loss) | 9901 | €28,320 | €37,639 | +€9,318 | +32.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €9,978 | €8,096 | -€1,882 | -18.9% |
| Recurring financial charges | 65 | €9,978 | €8,096 | -€1,882 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €18,343 | €29,543 | +€11,200 | +61.1% |
| Income taxes | 67/77 | €2,664 | €6,307 | +€3,643 | +136.8% |
| Profit (loss) for the period | 9904 | €15,679 | €23,236 | +€7,557 | +48.2% |
| Profit (loss) for the period to be appropriated | 9905 | €15,679 | €23,236 | +€7,557 | +48.2% |
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 9 October 2026 via checked.be.