TSB: 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.
What changed
TSB
NACE 47.110, Non-specialised retail sale with food, beverages or tobacco predominating
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€32,752
2024 · -€1.2m+€1.2m
Equity
€3.5m
2024 · €3.6m-€32,752
Cash
€794
2024 · €1,316-€522
Balance sheet total
€4.2m
2024 · €5.0m-€819,112
Largest movements
Assets
- Receivables after one year -€1.2m
down €1.2m (-23.5%), from €5.0m to €3.8m
- Deferred charges and accrued income +€399,040
up €399,040 (+41,567%), from €960 to €400,000
Equity and liabilities
- Trade debts -€1.1m
down €1.1m (-97.9%), from €1.1m to €23,301
- Debts after one year +€400,000
new in 2025: €400,000
- Tax, wage and social debts -€108,244
down €108,244 (-28.7%), from €376,881 to €268,637
Income statement
- Gross operating margin +€1.2m
up €1.2m (+97.8%), from -€1.2m to -€26,320
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.
Result 2024
-€1.2m
Gross operating margin
+€1.2m
Other operating charges
+€491
Financial income
-€13
Financial charges
+€6,878
Taxes
-€5,197
Result 2025
-€32,752
raises the resultlowers the result
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.
From operations
-€400,522
Investment
€0
Financing
+€400,000
Cash 2024
€1,316
From operations (derived)
-€400,522
Net result for the year
-€32,752
Receivables after one year
+€1.2m
Receivables within one year
+€49,876
Deferred charges and accrued income
-€399,040
Trade debts
-€1.1m
Tax, wage and social debts
-€108,244
Financing
+€400,000
Debts after one year
+€400,000
Cash 2025
€794
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,029,604 | €4,210,491 | -€819,112 | -16.3% |
| Current assets | 29/58 | €5,029,604 | €4,210,491 | -€819,112 | -16.3% |
| Amounts receivable after more than one year | 29 | €4,977,452 | €3,809,698 | -€1.2m | -23.5% |
| Other amounts receivable | 291 | €4,977,452 | €3,809,698 | -€1.2m | -23.5% |
| Amounts receivable within one year | 40/41 | €49,876 | €0 | -€49,876 | -100% |
| Trade receivables | 40 | €2,876 | €0 | -€2,876 | -100% |
| Other amounts receivable | 41 | €47,000 | €0 | -€47,000 | -100% |
| Cash at bank and in hand | 54/58 | €1,316 | €794 | -€522 | -39.7% |
| Deferred charges and accrued income | 490/1 | €960 | €400,000 | +€399,040 | +41,567% |
| Total equity and liabilities | 10/49 | €5,029,604 | €4,210,491 | -€819,112 | -16.3% |
| Equity | 10/15 | €3,550,223 | €3,517,471 | -€32,752 | -0.9% |
| Contributions | 10/11 | €466,593 | €466,593 | = | 0.0% |
| Reserves | 13 | €1,678,708 | €1,678,708 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,865 | €20,865 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,865 | €20,865 | = | 0.0% |
| Tax-exempt reserves | 132 | €55,811 | €55,811 | = | 0.0% |
| Distributable reserves | 133 | €1,602,032 | €1,602,032 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,404,921 | €1,372,169 | -€32,752 | -2.3% |
| Amounts payable | 17/49 | €1,479,381 | €693,020 | -€786,360 | -53.2% |
| Amounts payable after more than one year | 17 | - | €400,000 | +€400,000 | |
| Other amounts payable | 178/9 | - | €400,000 | +€400,000 | |
| Amounts payable within one year | 42/48 | €1,478,298 | €291,938 | -€1.2m | -80.3% |
| Trade debts | 44 | €1,101,418 | €23,301 | -€1.1m | -97.9% |
| Suppliers | 440/4 | €1,101,418 | €23,301 | -€1.1m | -97.9% |
| Taxes, remuneration and social security | 45 | €376,881 | €268,637 | -€108,244 | -28.7% |
| Taxes | 450/3 | €376,881 | €268,637 | -€108,244 | -28.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €1,082 | €1,082 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €1,602 | €1,110 | -€491 | -30.7% |
| Gross operating margin | 9900 | -€1,199,716 | -€26,320 | +€1.2m | +97.8% |
| Operating profit (loss) | 9901 | -€1,201,317 | -€27,430 | +€1.2m | +97.7% |
| Financial income | 75/76B | €13 | €0 | -€13 | -100% |
| Recurring financial income | 75 | €13 | €0 | -€13 | -100% |
| Financial charges | 65/66B | €7,148 | €271 | -€6,878 | -96.2% |
| Recurring financial charges | 65 | €7,148 | €271 | -€6,878 | -96.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,208,453 | -€27,701 | +€1.2m | +97.7% |
| Income taxes | 67/77 | -€145 | €5,051 | +€5,197 | |
| Profit (loss) for the period | 9904 | -€1,208,307 | -€32,752 | +€1.2m | +97.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,208,307 | -€32,752 | +€1.2m | +97.3% |
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 16 October 2026 via checked.be.