TSJOENSTEF: 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.
TSJOENSTEF
Largest movements
- Cash +€39,377
up €39,377 (+42.4%), from €92,929 to €132,306
mainly Net result for the year (+€50,093) and Tax, wage and social debts (+€8,762)
- Tangible fixed assets -€3,551
down €3,551 (-39.8%), from €8,930 to €5,378
of which Furniture and vehicles: -€3,351
- Receivables within one year -€1,525
down €1,525 (-31.3%), from €4,873 to €3,348
- Reserves +€45,000
up €45,000 (+66.7%), from €67,471 to €112,471
of which Distributable reserves: +€45,000
- Other debts -€24,224
no longer reported in 2025 (was €24,224)
- Tax, wage and social debts +€8,762
up €8,762 (+296.7%), from €2,953 to €11,715
- Profit (loss) carried forward +€5,093
up €5,093, from -€376 to €4,717
- Gross operating margin +€12,215
up €12,215 (+18.6%), from €65,787 to €78,002
- Taxes +€4,808
up €4,808 (+25.4%), from €18,953 to €23,762
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 | €106,993 | €141,303 | +€34,310 | +32.1% |
| Fixed assets | 21/28 | €8,930 | €5,378 | -€3,551 | -39.8% |
| Tangible fixed assets | 22/27 | €8,930 | €5,378 | -€3,551 | -39.8% |
| Furniture and vehicles | 24 | €8,330 | €4,978 | -€3,351 | -40.2% |
| Other tangible fixed assets | 26 | €600 | €400 | -€200 | -33.3% |
| Current assets | 29/58 | €98,063 | €135,924 | +€37,861 | +38.6% |
| Amounts receivable within one year | 40/41 | €4,873 | €3,348 | -€1,525 | -31.3% |
| Other amounts receivable | 41 | €4,873 | €3,348 | -€1,525 | -31.3% |
| Cash at bank and in hand | 54/58 | €92,929 | €132,306 | +€39,377 | +42.4% |
| Deferred charges and accrued income | 490/1 | €261 | €270 | +€9 | +3.5% |
| Total equity and liabilities | 10/49 | €106,993 | €141,303 | +€34,310 | +32.1% |
| Equity | 10/15 | €79,495 | €129,588 | +€50,093 | +63.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €67,471 | €112,471 | +€45,000 | +66.7% |
| Non-distributable reserves | 130/1 | €414 | €414 | = | 0.0% |
| Reserves not available under the articles | 1311 | €414 | €414 | = | 0.0% |
| Distributable reserves | 133 | €67,056 | €112,056 | +€45,000 | +67.1% |
| Profit (loss) carried forward | 14 | -€376 | €4,717 | +€5,093 | |
| Amounts payable | 17/49 | €27,498 | €11,715 | -€15,783 | -57.4% |
| Amounts payable within one year | 42/48 | €27,498 | €11,715 | -€15,783 | -57.4% |
| Trade debts | 44 | €321 | - | -€321 | |
| Suppliers | 440/4 | €321 | - | -€321 | |
| Taxes, remuneration and social security | 45 | €2,953 | €11,715 | +€8,762 | +296.7% |
| Taxes | 450/3 | €2,953 | €11,715 | +€8,762 | +296.7% |
| Other amounts payable | 47/48 | €24,224 | - | -€24,224 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,691 | €3,551 | -€140 | -3.8% |
| Other operating charges | 640/8 | €457 | €471 | +€15 | +3.2% |
| Gross operating margin | 9900 | €65,787 | €78,002 | +€12,215 | +18.6% |
| Operating profit (loss) | 9901 | €61,639 | €73,980 | +€12,341 | +20.0% |
| Financial charges | 65/66B | €134 | €125 | -€8 | -6.3% |
| Recurring financial charges | 65 | €134 | €125 | -€8 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €61,506 | €73,855 | +€12,349 | +20.1% |
| Income taxes | 67/77 | €18,953 | €23,762 | +€4,808 | +25.4% |
| Profit (loss) for the period | 9904 | €42,552 | €50,093 | +€7,541 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €42,552 | €50,093 | +€7,541 | +17.7% |
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 10 October 2026 via checked.be.