TSA EXCLUSIVE CAR: 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.
TSA EXCLUSIVE CAR
Largest movements
- Tangible fixed assets -€56,241
down €56,241 (-12.9%), from €437,227 to €380,986
- Receivables within one year -€12,604
down €12,604 (-17.6%), from €71,520 to €58,916
of which Trade receivables: -€13,525
- Debts after one year -€53,504
down €53,504 (-15.7%), from €339,878 to €286,374
- Profit (loss) carried forward -€13,173
down €13,173 (-17.4%), from €75,749 to €62,576
- Current portion of long-term debt -€11,837
down €11,837 (-21.6%), from €54,726 to €42,889
- Advances received +€10,000
new in 2025: €10,000
- Trade debts +€8,703
up €8,703 (+36.1%), from €24,102 to €32,804
- Gross operating margin -€12,402
down €12,402 (-8.1%), from €152,980 to €140,578
- Staff costs +€6,605
up €6,605 (+9.0%), from €73,295 to €79,901
- Financial charges -€3,664
down €3,664 (-23.3%), from €15,724 to €12,060
- Other operating charges -€2,103
down €2,103 (-28.3%), from €7,424 to €5,322
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 | €564,402 | €497,386 | -€67,015 | -11.9% |
| Fixed assets | 21/28 | €437,227 | €380,986 | -€56,241 | -12.9% |
| Tangible fixed assets | 22/27 | €437,227 | €380,986 | -€56,241 | -12.9% |
| Land and buildings | 22 | €361,005 | €343,130 | -€17,875 | -5.0% |
| Plant, machinery and equipment | 23 | €45,309 | €19,909 | -€25,401 | -56.1% |
| Furniture and vehicles | 24 | €6,077 | €3,495 | -€2,581 | -42.5% |
| Leasing and similar rights | 25 | €24,836 | €14,452 | -€10,384 | -41.8% |
| Current assets | 29/58 | €127,174 | €116,400 | -€10,774 | -8.5% |
| Stocks and contracts in progress | 3 | €14,656 | €12,213 | -€2,443 | -16.7% |
| Stocks | 30/36 | €14,656 | €12,213 | -€2,443 | -16.7% |
| Amounts receivable within one year | 40/41 | €71,520 | €58,916 | -€12,604 | -17.6% |
| Trade receivables | 40 | €66,789 | €53,264 | -€13,525 | -20.2% |
| Other amounts receivable | 41 | €4,732 | €5,653 | +€921 | +19.5% |
| Cash at bank and in hand | 54/58 | €39,798 | €44,286 | +€4,487 | +11.3% |
| Deferred charges and accrued income | 490/1 | €1,200 | €985 | -€215 | -17.9% |
| Total equity and liabilities | 10/49 | €564,402 | €497,386 | -€67,015 | -11.9% |
| Equity | 10/15 | €113,809 | €100,636 | -€13,173 | -11.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €30,000 | €30,000 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,749 | €62,576 | -€13,173 | -17.4% |
| Amounts payable | 17/49 | €450,592 | €396,750 | -€53,842 | -11.9% |
| Amounts payable after more than one year | 17 | €339,878 | €286,374 | -€53,504 | -15.7% |
| Financial debts | 170/4 | €339,878 | €286,374 | -€53,504 | -15.7% |
| Amounts payable within one year | 42/48 | €108,824 | €107,359 | -€1,464 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €54,726 | €42,889 | -€11,837 | -21.6% |
| Trade debts | 44 | €24,102 | €32,804 | +€8,703 | +36.1% |
| Suppliers | 440/4 | €24,102 | €32,804 | +€8,703 | +36.1% |
| Advances received on contracts in progress | 46 | - | €10,000 | +€10,000 | |
| Taxes, remuneration and social security | 45 | €27,555 | €19,434 | -€8,121 | -29.5% |
| Taxes | 450/3 | €15,546 | €8,739 | -€6,807 | -43.8% |
| Remuneration and social security | 454/9 | €12,009 | €10,695 | -€1,314 | -10.9% |
| Other amounts payable | 47/48 | €2,441 | €2,232 | -€209 | -8.6% |
| Accrued charges and deferred income | 492/3 | €1,891 | €3,017 | +€1,126 | +59.5% |
| Remuneration, social security and pensions | 62 | €73,295 | €79,901 | +€6,605 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,822 | €56,241 | +€419 | +0.8% |
| Other operating charges | 640/8 | €7,424 | €5,322 | -€2,103 | -28.3% |
| Gross operating margin | 9900 | €152,980 | €140,578 | -€12,402 | -8.1% |
| Operating profit (loss) | 9901 | €16,439 | -€886 | -€17,325 | |
| Financial income | 75/76B | €305 | €4 | -€301 | -98.7% |
| Recurring financial income | 75 | €305 | €4 | -€301 | -98.7% |
| Financial charges | 65/66B | €15,724 | €12,060 | -€3,664 | -23.3% |
| Recurring financial charges | 65 | €15,724 | €12,060 | -€3,664 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €1,020 | -€12,942 | -€13,962 | |
| Income taxes | 67/77 | €1,073 | €231 | -€842 | -78.5% |
| Profit (loss) for the period | 9904 | -€53 | -€13,173 | -€13,119 | -24,559% |
| Profit (loss) for the period to be appropriated | 9905 | -€53 | -€13,173 | -€13,119 | -24,559% |
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 27 October 2026 via checked.be.