TsasT: 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.
TsasT
Largest movements
- Tangible fixed assets +€583,935
up €583,935 (+147.8%), from €395,173 to €979,108
of which Land and buildings: +€581,460
- Debts after one year +€345,349
up €345,349 (+84.4%), from €409,353 to €754,702
of which Financial debts: +€340,694
- Contributions +€322,500
up €322,500 (+1075.0%), from €30,000 to €352,500
- Profit (loss) carried forward -€105,014
down €105,014 (-413.8%), from -€25,379 to -€130,393
- Current portion of long-term debt +€15,508
new in 2025: €15,508
- Gross operating margin -€77,982
down €77,982, from €3,175 to -€74,807
- Depreciation +€10,136
up €10,136 (+74.3%), from €13,633 to €23,769
- Financial charges +€3,564
up €3,564 (+4628.5%), from €77 to €3,641
- Other operating charges +€1,404
up €1,404 (+100.8%), from €1,393 to €2,797
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 | €414,425 | €992,844 | +€578,419 | +139.6% |
| Fixed assets | 21/28 | €395,173 | €979,108 | +€583,935 | +147.8% |
| Tangible fixed assets | 22/27 | €395,173 | €979,108 | +€583,935 | +147.8% |
| Land and buildings | 22 | €395,173 | €976,633 | +€581,460 | +147.1% |
| Plant, machinery and equipment | 23 | - | €2,475 | +€2,475 | |
| Current assets | 29/58 | €19,252 | €13,736 | -€5,516 | -28.7% |
| Amounts receivable within one year | 40/41 | €375 | €1,017 | +€642 | +171.3% |
| Trade receivables | 40 | - | €417 | +€417 | |
| Other amounts receivable | 41 | €375 | €600 | +€225 | +60.0% |
| Cash at bank and in hand | 54/58 | €18,877 | €11,665 | -€7,213 | -38.2% |
| Deferred charges and accrued income | 490/1 | - | €1,054 | +€1,054 | |
| Total equity and liabilities | 10/49 | €414,425 | €992,844 | +€578,419 | +139.6% |
| Equity | 10/15 | €4,621 | €222,107 | +€217,486 | +4706.5% |
| Contributions | 10/11 | €30,000 | €352,500 | +€322,500 | +1075.0% |
| Profit (loss) carried forward | 14 | -€25,379 | -€130,393 | -€105,014 | -413.8% |
| Amounts payable | 17/49 | €409,804 | €770,737 | +€360,933 | +88.1% |
| Amounts payable after more than one year | 17 | €409,353 | €754,702 | +€345,349 | +84.4% |
| Financial debts | 170/4 | €409,353 | €750,047 | +€340,694 | +83.2% |
| Other amounts payable | 178/9 | - | €4,655 | +€4,655 | |
| Amounts payable within one year | 42/48 | €451 | €16,035 | +€15,584 | +3455.5% |
| Current portion of amounts payable after more than one year | 42 | - | €15,508 | +€15,508 | |
| Trade debts | 44 | - | €76 | +€76 | |
| Suppliers | 440/4 | - | €76 | +€76 | |
| Other amounts payable | 47/48 | €451 | €451 | -€0 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,633 | €23,769 | +€10,136 | +74.3% |
| Other operating charges | 640/8 | €1,393 | €2,797 | +€1,404 | +100.8% |
| Gross operating margin | 9900 | €3,175 | -€74,807 | -€77,982 | |
| Operating profit (loss) | 9901 | -€11,851 | -€101,373 | -€89,522 | -755.4% |
| Financial charges | 65/66B | €77 | €3,641 | +€3,564 | +4628.5% |
| Recurring financial charges | 65 | €77 | €3,641 | +€3,564 | +4628.5% |
| Profit (loss) for the period before taxes | 9903 | -€11,928 | -€105,014 | -€93,086 | -780.4% |
| Profit (loss) for the period | 9904 | -€11,928 | -€105,014 | -€93,086 | -780.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,928 | -€105,014 | -€93,086 | -780.4% |
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 5 October 2026 via checked.be.