TSO CONSTRUCT: 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.
TSO CONSTRUCT
Largest movements
- Receivables within one year +€21,320
up €21,320 (+2132.0%), from €1,000 to €22,320
of which Trade receivables: +€15,204
- Cash +€3,531
up €3,531 (+136.7%), from €2,584 to €6,115
mainly Net result for the year (+€30,194) and Tax, wage and social debts (+€2,813)
- Tangible fixed assets +€2,855
new in 2025: €2,855
- Profit (loss) carried forward +€30,194
up €30,194, from -€13,450 to €16,744
- Trade debts -€5,301
down €5,301 (-37.8%), from €14,034 to €8,732
- Tax, wage and social debts +€2,813
up €2,813 (+140.6%), from €2,000 to €4,813
of which Taxes: +€4,736
- Gross operating margin +€49,270
up €49,270, from -€13,389 to €35,881
- Taxes +€4,483
new in 2025: €4,483
- Other operating charges +€1,099
new in 2025: €1,099
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 | €3,584 | €31,289 | +€27,705 | +773.1% |
| Fixed assets | 21/28 | - | €2,855 | +€2,855 | |
| Tangible fixed assets | 22/27 | - | €2,855 | +€2,855 | |
| Plant, machinery and equipment | 23 | - | €2,855 | +€2,855 | |
| Current assets | 29/58 | €3,584 | €28,434 | +€24,850 | +693.4% |
| Amounts receivable within one year | 40/41 | €1,000 | €22,320 | +€21,320 | +2132.0% |
| Trade receivables | 40 | - | €15,204 | +€15,204 | |
| Other amounts receivable | 41 | €1,000 | €7,115 | +€6,115 | +611.5% |
| Cash at bank and in hand | 54/58 | €2,584 | €6,115 | +€3,531 | +136.7% |
| Total equity and liabilities | 10/49 | €3,584 | €31,289 | +€27,705 | +773.1% |
| Equity | 10/15 | -€12,450 | €17,744 | +€30,194 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,450 | €16,744 | +€30,194 | |
| Amounts payable | 17/49 | €16,034 | €13,545 | -€2,488 | -15.5% |
| Amounts payable within one year | 42/48 | €16,034 | €13,545 | -€2,488 | -15.5% |
| Trade debts | 44 | €14,034 | €8,732 | -€5,301 | -37.8% |
| Suppliers | 440/4 | €14,034 | €8,732 | -€5,301 | -37.8% |
| Taxes, remuneration and social security | 45 | €2,000 | €4,813 | +€2,813 | +140.6% |
| Taxes | 450/3 | - | €4,736 | +€4,736 | |
| Remuneration and social security | 454/9 | €2,000 | €76 | -€1,924 | -96.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €145 | +€145 | |
| Other operating charges | 640/8 | - | €1,099 | +€1,099 | |
| Gross operating margin | 9900 | -€13,389 | €35,881 | +€49,270 | |
| Operating profit (loss) | 9901 | -€13,389 | €34,637 | +€48,026 | |
| Financial income | 75/76B | - | €236 | +€236 | |
| Recurring financial income | 75 | - | €236 | +€236 | |
| Financial charges | 65/66B | €61 | €197 | +€136 | +221.8% |
| Recurring financial charges | 65 | €61 | €197 | +€136 | +221.8% |
| Profit (loss) for the period before taxes | 9903 | -€13,450 | €34,676 | +€48,126 | |
| Income taxes | 67/77 | - | €4,483 | +€4,483 | |
| Profit (loss) for the period | 9904 | -€13,450 | €30,194 | +€43,644 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,450 | €30,194 | +€43,644 |
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 8 October 2026 via checked.be.