TSK: 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.
TSK
Largest movements
- Receivables within one year +€27,330
up €27,330 (+4.0%), from €675,575 to €702,905
- Reserves +€33,269
up €33,269 (+10.8%), from €307,050 to €340,319
of which Distributable reserves: +€33,269
- Tax, wage and social debts -€21,123
down €21,123 (-28.1%), from €75,106 to €53,982
- Other debts +€14,042
up €14,042 (+5.7%), from €247,412 to €261,454
- Gross operating margin -€53,694
down €53,694 (-75.8%), from €70,796 to €17,102
- Taxes -€18,112
down €18,112 (-47.1%), from €38,472 to €20,360
- Financial income -€940
down €940 (-2.5%), from €38,071 to €37,132
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 | €677,334 | €703,961 | +€26,627 | +3.9% |
| Fixed assets | 21/28 | €1,120 | €1,040 | -€80 | -7.1% |
| Tangible fixed assets | 22/27 | €1,120 | €1,040 | -€80 | -7.1% |
| Land and buildings | 22 | €1,120 | €1,040 | -€80 | -7.1% |
| Current assets | 29/58 | €676,214 | €702,921 | +€26,707 | +3.9% |
| Amounts receivable within one year | 40/41 | €675,575 | €702,905 | +€27,330 | +4.0% |
| Other amounts receivable | 41 | €675,575 | €702,905 | +€27,330 | +4.0% |
| Current investments | 50/53 | €9 | €9 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €630 | €7 | -€623 | -98.8% |
| Total equity and liabilities | 10/49 | €677,334 | €703,961 | +€26,627 | +3.9% |
| Equity | 10/15 | €354,451 | €387,720 | +€33,269 | +9.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €307,050 | €340,319 | +€33,269 | +10.8% |
| 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 | €305,190 | €338,459 | +€33,269 | +10.9% |
| Profit (loss) carried forward | 14 | €41,201 | €41,201 | = | 0.0% |
| Amounts payable | 17/49 | €322,883 | €316,241 | -€6,642 | -2.1% |
| Amounts payable within one year | 42/48 | €322,883 | €316,241 | -€6,642 | -2.1% |
| Trade debts | 44 | €365 | €805 | +€439 | +120.2% |
| Suppliers | 440/4 | €365 | €805 | +€439 | +120.2% |
| Taxes, remuneration and social security | 45 | €75,106 | €53,982 | -€21,123 | -28.1% |
| Taxes | 450/3 | €75,106 | €53,982 | -€21,123 | -28.1% |
| Other amounts payable | 47/48 | €247,412 | €261,454 | +€14,042 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80 | €80 | = | 0.0% |
| Other operating charges | 640/8 | €493 | €512 | +€19 | +3.9% |
| Gross operating margin | 9900 | €70,796 | €17,102 | -€53,694 | -75.8% |
| Operating profit (loss) | 9901 | €70,223 | €16,509 | -€53,714 | -76.5% |
| Financial income | 75/76B | €38,071 | €37,132 | -€940 | -2.5% |
| Recurring financial income | 75 | €38,071 | €37,132 | -€940 | -2.5% |
| Financial charges | 65/66B | €334 | €13 | -€322 | -96.3% |
| Recurring financial charges | 65 | €334 | €13 | -€322 | -96.3% |
| Profit (loss) for the period before taxes | 9903 | €107,960 | €53,628 | -€54,332 | -50.3% |
| Income taxes | 67/77 | €38,472 | €20,360 | -€18,112 | -47.1% |
| Profit (loss) for the period | 9904 | €69,488 | €33,269 | -€36,219 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €69,488 | €33,269 | -€36,219 | -52.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.