TSHINMYSA: 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.
TSHINMYSA
Largest movements
- Receivables within one year +€56,661
up €56,661 (+298%), from €19,043 to €75,704
- Cash +€22,810
up €22,810 (+1,443,702%), from €2 to €22,812
mainly Tax, wage and social debts (+€48,199) and Trade debts (+€47,370)
- Tax, wage and social debts +€48,199
up €48,199 (+137%), from €35,173 to €83,372
of which Remuneration and social security: +€39,020
- Trade debts +€47,370
up €47,370 (+364%), from €13,002 to €60,372
- Debts after one year -€13,316
down €13,316 (-7.8%), from €171,419 to €158,103
- Gross operating margin +€127,310
up €127,310 (+66.3%), from €191,954 to €319,264
- Staff costs +€83,356
up €83,356 (+39.6%), from €210,383 to €293,739
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €301,897 | €383,139 | +€81,242 | +26.9% |
| Fixed assets | 21/28 | €281,010 | €282,761 | +€1,752 | +0.6% |
| Tangible fixed assets | 22/27 | €281,010 | €282,761 | +€1,752 | +0.6% |
| Land and buildings | 22 | €278,819 | €268,448 | -€10,371 | -3.7% |
| Plant, machinery and equipment | 23 | €720 | €0 | -€720 | -100% |
| Furniture and vehicles | 24 | €1,471 | €14,313 | +€12,842 | +873% |
| Current assets | 29/58 | €20,887 | €100,378 | +€79,490 | +381% |
| Amounts receivable within one year | 40/41 | €19,043 | €75,704 | +€56,661 | +298% |
| Trade receivables | 40 | €19,043 | €75,704 | +€56,661 | +298% |
| Cash at bank and in hand | 54/58 | €2 | €22,812 | +€22,810 | +1,443,702% |
| Deferred charges and accrued income | 490/1 | €1,842 | €1,862 | +€19 | +1.0% |
| Total equity and liabilities | 10/49 | €301,897 | €383,139 | +€81,242 | +26.9% |
| Equity | 10/15 | €40,426 | €42,833 | +€2,407 | +6.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €138 | €138 | = | 0.0% |
| Non-distributable reserves | 130/1 | €138 | €138 | = | 0.0% |
| Reserves not available under the articles | 1311 | €138 | €138 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,688 | €24,095 | +€2,407 | +11.1% |
| Amounts payable | 17/49 | €261,471 | €340,306 | +€78,835 | +30.2% |
| Amounts payable after more than one year | 17 | €171,419 | €158,103 | -€13,316 | -7.8% |
| Financial debts | 170/4 | €171,419 | €158,103 | -€13,316 | -7.8% |
| Amounts payable within one year | 42/48 | €90,052 | €182,203 | +€92,151 | +102% |
| Current portion of amounts payable after more than one year | 42 | €13,058 | €13,316 | +€258 | +2.0% |
| Financial debts | 43 | €2,797 | - | -€2,797 | |
| Credit institutions | 430/8 | €2,797 | - | -€2,797 | |
| Trade debts | 44 | €13,002 | €60,372 | +€47,370 | +364% |
| Suppliers | 440/4 | €13,002 | €60,372 | +€47,370 | +364% |
| Taxes, remuneration and social security | 45 | €35,173 | €83,372 | +€48,199 | +137% |
| Taxes | 450/3 | €13,339 | €22,519 | +€9,179 | +68.8% |
| Remuneration and social security | 454/9 | €21,834 | €60,853 | +€39,020 | +179% |
| Other amounts payable | 47/48 | €26,021 | €25,144 | -€877 | -3.4% |
| Remuneration, social security and pensions | 62 | €210,383 | €293,739 | +€83,356 | +39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,007 | €13,085 | +€1,078 | +9.0% |
| Other operating charges | 640/8 | €5,039 | €3,336 | -€1,703 | -33.8% |
| Gross operating margin | 9900 | €191,954 | €319,264 | +€127,310 | +66.3% |
| Operating profit (loss) | 9901 | -€35,475 | €9,105 | +€44,580 | |
| Financial charges | 65/66B | €6,208 | €4,725 | -€1,483 | -23.9% |
| Recurring financial charges | 65 | €6,208 | €4,725 | -€1,483 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | -€41,683 | €4,380 | +€46,063 | |
| Income taxes | 67/77 | €264 | €1,973 | +€1,710 | +648% |
| Profit (loss) for the period | 9904 | -€41,947 | €2,407 | +€44,354 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,947 | €2,407 | +€44,354 |
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.