TSD CONSULTING: 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.
TSD CONSULTING
Largest movements
- Cash +€39,651
up €39,651 (+67.4%), from €58,858 to €98,510
mainly Net result for the year (+€57,030) and Tax, wage and social debts (+€7,459)
- Receivables after one year +€18,155
up €18,155 (+403.4%), from €4,500 to €22,655
- Tangible fixed assets +€5,564
up €5,564 (+433.7%), from €1,283 to €6,847
- Receivables within one year +€2,210
up €2,210 (+27.8%), from €7,946 to €10,156
of which Trade receivables: +€2,162
- Profit (loss) carried forward +€57,030
up €57,030 (+107.1%), from €53,245 to €110,275
- Tax, wage and social debts +€7,459
up €7,459 (+55.7%), from €13,386 to €20,845
- Gross operating margin +€4,206
up €4,206 (+6.1%), from €68,560 to €72,766
- Financial income +€1,259
up €1,259 (+39977.8%), from €3 to €1,262
- Taxes +€1,120
up €1,120 (+8.0%), from €13,960 to €15,080
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 | €72,587 | €138,613 | +€66,026 | +91.0% |
| Fixed assets | 21/28 | €1,283 | €6,847 | +€5,564 | +433.7% |
| Tangible fixed assets | 22/27 | €1,283 | €6,847 | +€5,564 | +433.7% |
| Furniture and vehicles | 24 | €1,283 | €6,847 | +€5,564 | +433.7% |
| Current assets | 29/58 | €71,304 | €131,766 | +€60,462 | +84.8% |
| Amounts receivable after more than one year | 29 | €4,500 | €22,655 | +€18,155 | +403.4% |
| Other amounts receivable | 291 | €4,500 | €22,655 | +€18,155 | +403.4% |
| Stocks and contracts in progress | 3 | - | €423 | +€423 | |
| Stocks | 30/36 | - | €423 | +€423 | |
| Amounts receivable within one year | 40/41 | €7,946 | €10,156 | +€2,210 | +27.8% |
| Trade receivables | 40 | €7,946 | €10,108 | +€2,162 | +27.2% |
| Other amounts receivable | 41 | - | €47 | +€47 | |
| Cash at bank and in hand | 54/58 | €58,858 | €98,510 | +€39,651 | +67.4% |
| Deferred charges and accrued income | 490/1 | - | €23 | +€23 | |
| Total equity and liabilities | 10/49 | €72,587 | €138,613 | +€66,026 | +91.0% |
| Equity | 10/15 | €55,745 | €112,775 | +€57,030 | +102.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,245 | €110,275 | +€57,030 | +107.1% |
| Amounts payable | 17/49 | €16,842 | €25,838 | +€8,996 | +53.4% |
| Amounts payable within one year | 42/48 | €16,842 | €25,838 | +€8,996 | +53.4% |
| Trade debts | 44 | €464 | €755 | +€291 | +62.7% |
| Suppliers | 440/4 | €464 | €755 | +€291 | +62.7% |
| Taxes, remuneration and social security | 45 | €13,386 | €20,845 | +€7,459 | +55.7% |
| Taxes | 450/3 | €13,386 | €20,845 | +€7,459 | +55.7% |
| Other amounts payable | 47/48 | €2,992 | €4,238 | +€1,245 | +41.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,301 | €1,791 | +€489 | +37.6% |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | €68,560 | €72,766 | +€4,206 | +6.1% |
| Operating profit (loss) | 9901 | €67,258 | €70,912 | +€3,654 | +5.4% |
| Financial income | 75/76B | €3 | €1,262 | +€1,259 | +39977.8% |
| Recurring financial income | 75 | €3 | €1,262 | +€1,259 | +39977.8% |
| Financial charges | 65/66B | €56 | €65 | +€8 | +14.5% |
| Recurring financial charges | 65 | €56 | €65 | +€8 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | €67,205 | €72,110 | +€4,905 | +7.3% |
| Income taxes | 67/77 | €13,960 | €15,080 | +€1,120 | +8.0% |
| Profit (loss) for the period | 9904 | €53,245 | €57,030 | +€3,785 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €53,245 | €57,030 | +€3,785 | +7.1% |
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 7 October 2026 via checked.be.