TSE CONSULTANTS: what changed
TSE CONSULTANTS
Largest movements
- Cash +€100,521
up €100,521 (+126%), from €79,639 to €180,160
mainly Net result for the year (+€184,862) and Trade debts (+€10,308)
- Receivables after one year +€100,000
new in 2025: €100,000
- Reserves +€184,862
up €184,862 (+176%), from €104,920 to €289,781
of which Distributable reserves: +€184,862
- Trade debts +€10,308
up €10,308 (+595%), from €1,733 to €12,041
- Tax, wage and social debts +€9,279
up €9,279 (+44.2%), from €20,991 to €30,270
of which Taxes: +€9,279
- Financial income +€90,000
up €90,000 (+75.0%), from €120,000 to €210,000
- Taxes +€8,180
up €8,180 (+79.4%), from €10,306 to €18,486
- Financial charges +€4,014
up €4,014 (+7.3%), from €55,095 to €59,109
- Gross operating margin +€3,998
up €3,998 (+8.2%), from €48,786 to €52,784
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €606,989 | €810,160 | +€203,171 | +33.5% |
| Fixed assets | 21/28 | €320,000 | €320,000 | = | 0.0% |
| Financial fixed assets | 28 | €320,000 | €320,000 | = | 0.0% |
| Current assets | 29/58 | €286,989 | €490,160 | +€203,171 | +70.8% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Amounts receivable within one year | 40/41 | €207,350 | €210,000 | +€2,650 | +1.3% |
| Trade receivables | 40 | €207,350 | €210,000 | +€2,650 | +1.3% |
| Cash at bank and in hand | 54/58 | €79,639 | €180,160 | +€100,521 | +126% |
| Total equity and liabilities | 10/49 | €606,989 | €810,160 | +€203,171 | +33.5% |
| Equity | 10/15 | €479,484 | €664,345 | +€184,862 | +38.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,920 | €289,781 | +€184,862 | +176% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €103,060 | €287,921 | +€184,862 | +179% |
| Profit (loss) carried forward | 14 | €355,964 | €355,964 | = | 0.0% |
| Amounts payable | 17/49 | €127,505 | €145,814 | +€18,309 | +14.4% |
| Amounts payable after more than one year | 17 | €104,781 | €103,503 | -€1,277 | -1.2% |
| Other amounts payable | 178/9 | €104,781 | €103,503 | -€1,277 | -1.2% |
| Amounts payable within one year | 42/48 | €22,724 | €42,311 | +€19,587 | +86.2% |
| Trade debts | 44 | €1,733 | €12,041 | +€10,308 | +595% |
| Suppliers | 440/4 | €1,733 | €12,041 | +€10,308 | +595% |
| Taxes, remuneration and social security | 45 | €20,991 | €30,270 | +€9,279 | +44.2% |
| Taxes | 450/3 | €18,864 | €28,143 | +€9,279 | +49.2% |
| Remuneration and social security | 454/9 | €2,127 | €2,127 | = | 0.0% |
| Other operating charges | 640/8 | €326 | €328 | +€2 | +0.6% |
| Gross operating margin | 9900 | €48,786 | €52,784 | +€3,998 | +8.2% |
| Operating profit (loss) | 9901 | €48,461 | €52,457 | +€3,996 | +8.2% |
| Financial income | 75/76B | €120,000 | €210,000 | +€90,000 | +75.0% |
| Recurring financial income | 75 | €120,000 | €210,000 | +€90,000 | +75.0% |
| Financial charges | 65/66B | €55,095 | €59,109 | +€4,014 | +7.3% |
| Recurring financial charges | 65 | €55,095 | €59,109 | +€4,014 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €113,365 | €203,348 | +€89,982 | +79.4% |
| Income taxes | 67/77 | €10,306 | €18,486 | +€8,180 | +79.4% |
| Profit (loss) for the period | 9904 | €103,060 | €184,862 | +€81,802 | +79.4% |
| Profit (loss) for the period to be appropriated | 9905 | €103,060 | €184,862 | +€81,802 | +79.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.