TSP Consultancy: 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.
TSP Consultancy
Largest movements
- Cash +€41,467
up €41,467 (+822%), from €5,048 to €46,514
mainly Receivables within one year (+€26,473) and Net result for the year (+€23,457)
- Receivables within one year -€26,473
down €26,473 (-30.6%), from €86,457 to €59,983
of which Trade receivables: -€26,473
- Tangible fixed assets -€1,686
down €1,686 (-29.4%), from €5,742 to €4,056
of which Furniture and vehicles: -€1,406
- Reserves +€23,457
up €23,457 (+42.7%), from €54,952 to €78,410
- Tax, wage and social debts -€10,712
down €10,712 (-30.6%), from €34,957 to €24,244
- Gross operating margin +€17,416
up €17,416 (+92.3%), from €18,866 to €36,282
- Taxes +€4,883
up €4,883 (+108%), from €4,531 to €9,414
- Other operating charges -€609
down €609 (-28.0%), from €2,179 to €1,570
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 | €98,497 | €112,054 | +€13,557 | +13.8% |
| Fixed assets | 21/28 | €6,992 | €5,556 | -€1,436 | -20.5% |
| Tangible fixed assets | 22/27 | €5,742 | €4,056 | -€1,686 | -29.4% |
| Plant, machinery and equipment | 23 | €1,014 | €734 | -€280 | -27.6% |
| Furniture and vehicles | 24 | €4,729 | €3,323 | -€1,406 | -29.7% |
| Financial fixed assets | 28 | €1,250 | €1,500 | +€250 | +20.0% |
| Current assets | 29/58 | €91,504 | €106,498 | +€14,993 | +16.4% |
| Amounts receivable within one year | 40/41 | €86,457 | €59,983 | -€26,473 | -30.6% |
| Trade receivables | 40 | €56,241 | €29,768 | -€26,473 | -47.1% |
| Other amounts receivable | 41 | €30,215 | €30,215 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,048 | €46,514 | +€41,467 | +822% |
| Total equity and liabilities | 10/49 | €98,497 | €112,054 | +€13,557 | +13.8% |
| Equity | 10/15 | €59,952 | €83,410 | +€23,457 | +39.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €54,952 | €78,410 | +€23,457 | +42.7% |
| Distributable reserves | 133 | €54,952 | €78,410 | +€23,457 | +42.7% |
| Amounts payable | 17/49 | €38,545 | €28,644 | -€9,900 | -25.7% |
| Amounts payable within one year | 42/48 | €38,545 | €28,644 | -€9,900 | -25.7% |
| Trade debts | 44 | €2,704 | €3,265 | +€562 | +20.8% |
| Suppliers | 440/4 | €2,704 | €3,265 | +€562 | +20.8% |
| Taxes, remuneration and social security | 45 | €34,957 | €24,244 | -€10,712 | -30.6% |
| Taxes | 450/3 | €34,957 | €24,244 | -€10,712 | -30.6% |
| Other amounts payable | 47/48 | €884 | €1,135 | +€250 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,010 | €1,686 | -€324 | -16.1% |
| Other operating charges | 640/8 | €2,179 | €1,570 | -€609 | -28.0% |
| Gross operating margin | 9900 | €18,866 | €36,282 | +€17,416 | +92.3% |
| Operating profit (loss) | 9901 | €14,677 | €33,026 | +€18,349 | +125% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €105 | €155 | +€51 | +48.3% |
| Recurring financial charges | 65 | €105 | €155 | +€51 | +48.3% |
| Profit (loss) for the period before taxes | 9903 | €14,573 | €32,871 | +€18,298 | +126% |
| Income taxes | 67/77 | €4,531 | €9,414 | +€4,883 | +108% |
| Profit (loss) for the period | 9904 | €10,042 | €23,457 | +€13,415 | +134% |
| Profit (loss) for the period to be appropriated | 9905 | €10,042 | €23,457 | +€13,415 | +134% |
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 26 October 2026 via checked.be.