TSE CONSULT: 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.
TSE CONSULT
Largest movements
- Receivables within one year -€531,119
down €531,119 (-98.3%), from €540,405 to €9,286
of which Other amounts receivable: -€535,217
- Tangible fixed assets -€28,275
down €28,275 (-2.6%), from €1.1m to €1.0m
of which Land and buildings: -€29,097
- Short-term financial debts -€612,173
no longer reported in 2025 (was €612,173)
- Profit (loss) carried forward +€90,367
up €90,367 (+188.6%), from €47,921 to €138,288
- Other debts -€58,101
down €58,101 (-11.2%), from €520,551 to €462,450
- Trade debts -€34,698
down €34,698 (-81.5%), from €42,568 to €7,871
- Tax, wage and social debts +€23,392
up €23,392 (+129.7%), from €18,039 to €41,431
- Financial charges -€37,201
down €37,201 (-83.5%), from €44,570 to €7,369
- Gross operating margin -€34,117
down €34,117 (-16.4%), from €207,442 to €173,325
- Taxes +€26,690
up €26,690 (+423.6%), from €6,300 to €32,990
- Depreciation -€2,200
down €2,200 (-6.1%), from €36,284 to €34,084
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 | €1,612,049 | €1,054,130 | -€557,919 | -34.6% |
| Fixed assets | 21/28 | €1,069,636 | €1,041,361 | -€28,275 | -2.6% |
| Tangible fixed assets | 22/27 | €1,069,436 | €1,041,161 | -€28,275 | -2.6% |
| Land and buildings | 22 | €1,068,947 | €1,039,850 | -€29,097 | -2.7% |
| Furniture and vehicles | 24 | €489 | €1,311 | +€823 | +168.3% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €542,413 | €12,769 | -€529,644 | -97.6% |
| Amounts receivable within one year | 40/41 | €540,405 | €9,286 | -€531,119 | -98.3% |
| Trade receivables | 40 | €5,188 | €9,286 | +€4,098 | +79.0% |
| Other amounts receivable | 41 | €535,217 | - | -€535,217 | |
| Cash at bank and in hand | 54/58 | - | €977 | +€977 | |
| Deferred charges and accrued income | 490/1 | €2,008 | €2,506 | +€498 | +24.8% |
| Total equity and liabilities | 10/49 | €1,612,049 | €1,054,130 | -€557,919 | -34.6% |
| Equity | 10/15 | €310,491 | €400,858 | +€90,367 | +29.1% |
| Contributions | 10/11 | €256,200 | €256,200 | = | 0.0% |
| Reserves | 13 | €6,370 | €6,370 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,370 | €6,370 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,370 | €6,370 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,921 | €138,288 | +€90,367 | +188.6% |
| Amounts payable | 17/49 | €1,301,558 | €653,272 | -€648,286 | -49.8% |
| Amounts payable after more than one year | 17 | €56,012 | €69,787 | +€13,776 | +24.6% |
| Financial debts | 170/4 | €56,012 | €69,787 | +€13,776 | +24.6% |
| Amounts payable within one year | 42/48 | €1,244,227 | €582,557 | -€661,670 | -53.2% |
| Current portion of amounts payable after more than one year | 42 | €50,896 | €70,805 | +€19,909 | +39.1% |
| Financial debts | 43 | €612,173 | - | -€612,173 | |
| Credit institutions | 430/8 | €612,173 | - | -€612,173 | |
| Trade debts | 44 | €42,568 | €7,871 | -€34,698 | -81.5% |
| Suppliers | 440/4 | €42,568 | €7,871 | -€34,698 | -81.5% |
| Taxes, remuneration and social security | 45 | €18,039 | €41,431 | +€23,392 | +129.7% |
| Taxes | 450/3 | €18,039 | €41,431 | +€23,392 | +129.7% |
| Other amounts payable | 47/48 | €520,551 | €462,450 | -€58,101 | -11.2% |
| Accrued charges and deferred income | 492/3 | €1,319 | €928 | -€391 | -29.6% |
| Non-recurring operating income | 76A | - | €18,233 | +€18,233 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,284 | €34,084 | -€2,200 | -6.1% |
| Other operating charges | 640/8 | €8,398 | €8,515 | +€117 | +1.4% |
| Gross operating margin | 9900 | €207,442 | €173,325 | -€34,117 | -16.4% |
| Operating profit (loss) | 9901 | €162,760 | €130,726 | -€32,034 | -19.7% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €44,570 | €7,369 | -€37,201 | -83.5% |
| Recurring financial charges | 65 | €44,570 | €7,369 | -€37,201 | -83.5% |
| Profit (loss) for the period before taxes | 9903 | €118,192 | €123,357 | +€5,165 | +4.4% |
| Income taxes | 67/77 | €6,300 | €32,990 | +€26,690 | +423.6% |
| Profit (loss) for the period | 9904 | €111,892 | €90,367 | -€21,525 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €111,892 | €90,367 | -€21,525 | -19.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.