TSJ: 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.
TSJ
Largest movements
- Tangible fixed assets -€27,957
down €27,957 (-39.6%), from €70,557 to €42,600
of which Land and buildings: -€29,789
- Receivables within one year +€5,534
up €5,534 (+2.2%), from €254,976 to €260,509
- Tax, wage and social debts -€77,246
down €77,246 (-58.7%), from €131,681 to €54,435
- Profit (loss) carried forward +€55,676
up €55,676 (+82.7%), from €67,284 to €122,959
- Debts after one year -€33,757
down €33,757 (-79.5%), from €42,436 to €8,679
- Trade debts +€31,663
up €31,663 (+78.7%), from €40,256 to €71,919
- Taxes -€56,668
down €56,668 (-72.2%), from €78,445 to €21,778
- Gross operating margin -€12,069
down €12,069 (-10.8%), from €111,841 to €99,772
- Other operating charges -€3,304
down €3,304 (-83.1%), from €3,974 to €670
- Financial charges -€1,572
down €1,572 (-29.2%), from €5,391 to €3,819
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €331,833 | €309,410 | -€22,423 | -6.8% |
| Fixed assets | 21/28 | €70,557 | €42,600 | -€27,957 | -39.6% |
| Tangible fixed assets | 22/27 | €70,557 | €42,600 | -€27,957 | -39.6% |
| Land and buildings | 22 | €70,261 | €40,471 | -€29,789 | -42.4% |
| Furniture and vehicles | 24 | €297 | €2,129 | +€1,832 | +618% |
| Current assets | 29/58 | €261,276 | €266,810 | +€5,534 | +2.1% |
| Stocks and contracts in progress | 3 | €6,300 | €6,300 | = | 0.0% |
| Stocks | 30/36 | €6,300 | €6,300 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €254,976 | €260,509 | +€5,534 | +2.2% |
| Other amounts receivable | 41 | €254,976 | €260,509 | +€5,534 | +2.2% |
| Total equity and liabilities | 10/49 | €331,833 | €309,410 | -€22,423 | -6.8% |
| Equity | 10/15 | €82,344 | €138,019 | +€55,676 | +67.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €8,860 | €8,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,284 | €122,959 | +€55,676 | +82.7% |
| Amounts payable | 17/49 | €249,490 | €171,391 | -€78,099 | -31.3% |
| Amounts payable after more than one year | 17 | €42,436 | €8,679 | -€33,757 | -79.5% |
| Financial debts | 170/4 | €42,436 | €8,679 | -€33,757 | -79.5% |
| Amounts payable within one year | 42/48 | €207,053 | €162,712 | -€44,342 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €32,268 | €33,757 | +€1,489 | +4.6% |
| Financial debts | 43 | €2,848 | €2,600 | -€248 | -8.7% |
| Credit institutions | 430/8 | €2,848 | €2,600 | -€248 | -8.7% |
| Trade debts | 44 | €40,256 | €71,919 | +€31,663 | +78.7% |
| Suppliers | 440/4 | €40,256 | €71,919 | +€31,663 | +78.7% |
| Taxes, remuneration and social security | 45 | €131,681 | €54,435 | -€77,246 | -58.7% |
| Taxes | 450/3 | €131,681 | €54,435 | -€77,246 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,880 | €31,797 | +€917 | +3.0% |
| Other operating charges | 640/8 | €3,974 | €670 | -€3,304 | -83.1% |
| Gross operating margin | 9900 | €111,841 | €99,772 | -€12,069 | -10.8% |
| Operating profit (loss) | 9901 | €76,987 | €67,305 | -€9,682 | -12.6% |
| Financial income | 75/76B | €14,051 | €13,967 | -€84 | -0.6% |
| Recurring financial income | 75 | €14,051 | €13,967 | -€84 | -0.6% |
| Financial charges | 65/66B | €5,391 | €3,819 | -€1,572 | -29.2% |
| Recurring financial charges | 65 | €5,391 | €3,819 | -€1,572 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €85,648 | €77,453 | -€8,194 | -9.6% |
| Income taxes | 67/77 | €78,445 | €21,778 | -€56,668 | -72.2% |
| Profit (loss) for the period | 9904 | €7,202 | €55,676 | +€48,473 | +673% |
| Profit (loss) for the period to be appropriated | 9905 | €7,202 | €55,676 | +€48,473 | +673% |
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 20 October 2026 via checked.be.