TSDB: 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.
TSDB
Largest movements
- Cash +€26,992
up €26,992 (+845.1%), from €3,194 to €30,186
mainly Debts after one year (+€26,614) and Net result for the year (+€16,582)
- Stocks and contracts +€19,452
up €19,452 (+72.9%), from €26,693 to €46,145
- Receivables within one year -€14,453
down €14,453 (-32.1%), from €44,963 to €30,510
of which Other amounts receivable: -€17,963
- Deferred charges and accrued income -€5,441
down €5,441 (-86.7%), from €6,275 to €833
- Tangible fixed assets +€2,086
up €2,086 (+11.8%), from €17,657 to €19,743
of which Other tangible fixed assets: +€2,449
- Debts after one year +€26,614
up €26,614 (+363.8%), from €7,316 to €33,930
- Other debts -€22,416
down €22,416 (-86.7%), from €25,840 to €3,424
- Profit (loss) carried forward +€16,582
up €16,582 (+50.5%), from €32,808 to €49,389
- Current portion of long-term debt +€11,641
up €11,641 (+94.3%), from €12,342 to €23,984
- Short-term financial debts -€4,167
no longer reported in 2025 (was €4,167)
- Gross operating margin -€30,197
down €30,197 (-42.5%), from €70,998 to €40,800
- Staff costs -€15,666
no longer reported in 2025 (was €15,666)
- Depreciation -€11,362
down €11,362 (-42.5%), from €26,723 to €15,361
- Taxes -€931
down €931 (-14.4%), from €6,476 to €5,545
- Financial charges +€736
up €736 (+36.0%), from €2,045 to €2,781
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 | €104,949 | €132,850 | +€27,902 | +26.6% |
| Fixed assets | 21/28 | €23,824 | €25,177 | +€1,352 | +5.7% |
| Intangible fixed assets | 21 | €3,667 | €2,933 | -€734 | -20.0% |
| Tangible fixed assets | 22/27 | €17,657 | €19,743 | +€2,086 | +11.8% |
| Plant, machinery and equipment | 23 | €3,453 | €3,372 | -€81 | -2.3% |
| Furniture and vehicles | 24 | €948 | €667 | -€281 | -29.7% |
| Other tangible fixed assets | 26 | €13,256 | €15,705 | +€2,449 | +18.5% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €81,125 | €107,674 | +€26,549 | +32.7% |
| Stocks and contracts in progress | 3 | €26,693 | €46,145 | +€19,452 | +72.9% |
| Stocks | 30/36 | €26,693 | €46,145 | +€19,452 | +72.9% |
| Amounts receivable within one year | 40/41 | €44,963 | €30,510 | -€14,453 | -32.1% |
| Trade receivables | 40 | €982 | €4,492 | +€3,510 | +357.6% |
| Other amounts receivable | 41 | €43,982 | €26,018 | -€17,963 | -40.8% |
| Cash at bank and in hand | 54/58 | €3,194 | €30,186 | +€26,992 | +845.1% |
| Deferred charges and accrued income | 490/1 | €6,275 | €833 | -€5,441 | -86.7% |
| Total equity and liabilities | 10/49 | €104,949 | €132,850 | +€27,902 | +26.6% |
| Equity | 10/15 | €47,808 | €64,389 | +€16,582 | +34.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,808 | €49,389 | +€16,582 | +50.5% |
| Amounts payable | 17/49 | €57,141 | €68,461 | +€11,320 | +19.8% |
| Amounts payable after more than one year | 17 | €7,316 | €33,930 | +€26,614 | +363.8% |
| Financial debts | 170/4 | €7,316 | €33,930 | +€26,614 | +363.8% |
| Amounts payable within one year | 42/48 | €49,825 | €34,531 | -€15,294 | -30.7% |
| Current portion of amounts payable after more than one year | 42 | €12,342 | €23,984 | +€11,641 | +94.3% |
| Financial debts | 43 | €4,167 | - | -€4,167 | |
| Credit institutions | 430/8 | €4,167 | - | -€4,167 | |
| Trade debts | 44 | €7,436 | €4,298 | -€3,138 | -42.2% |
| Suppliers | 440/4 | €7,436 | €4,298 | -€3,138 | -42.2% |
| Taxes, remuneration and social security | 45 | €40 | €2,825 | +€2,785 | +7039.3% |
| Taxes | 450/3 | €40 | €2,825 | +€2,785 | +7039.3% |
| Other amounts payable | 47/48 | €25,840 | €3,424 | -€22,416 | -86.7% |
| Remuneration, social security and pensions | 62 | €15,666 | - | -€15,666 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,723 | €15,361 | -€11,362 | -42.5% |
| Other operating charges | 640/8 | €919 | €549 | -€370 | -40.3% |
| Gross operating margin | 9900 | €70,998 | €40,800 | -€30,197 | -42.5% |
| Operating profit (loss) | 9901 | €27,690 | €24,891 | -€2,799 | -10.1% |
| Financial income | 75/76B | €507 | €17 | -€490 | -96.7% |
| Recurring financial income | 75 | €507 | €17 | -€490 | -96.7% |
| Financial charges | 65/66B | €2,045 | €2,781 | +€736 | +36.0% |
| Recurring financial charges | 65 | €2,045 | €2,781 | +€736 | +36.0% |
| Profit (loss) for the period before taxes | 9903 | €26,152 | €22,126 | -€4,025 | -15.4% |
| Income taxes | 67/77 | €6,476 | €5,545 | -€931 | -14.4% |
| Profit (loss) for the period | 9904 | €19,676 | €16,582 | -€3,095 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,676 | €16,582 | -€3,095 | -15.7% |
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 12 October 2026 via checked.be.