TSR Consulting: 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.
TSR Consulting
Largest movements
- Cash -€164,795
down €164,795 (-88.8%), from €185,642 to €20,847
mainly Contributions, distributions and other (-€129,952) and Trade debts (-€28,124)
- Receivables within one year -€17,575
down €17,575 (-20.6%), from €85,325 to €67,750
of which Trade receivables: -€43,763
- Deferred charges and accrued income +€15,103
up €15,103, from €0 to €15,103
- Receivables after one year +€4,892
up €4,892 (+11.1%), from €44,037 to €48,929
- Reserves -€129,952
down €129,952 (-45.5%), from €285,394 to €155,442
- Trade debts -€28,124
down €28,124 (-96.9%), from €29,020 to €896
- Profit (loss) carried forward -€4,976
down €4,976, from €0 to -€4,976
- Gross operating margin -€169,416
down €169,416, from €164,994 to -€4,423
- Taxes -€34,006
down €34,006 (-100%), from €34,006 to €0
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 | €316,926 | €153,862 | -€163,064 | -51.5% |
| Fixed assets | 21/28 | €1,922 | €1,234 | -€689 | -35.8% |
| Tangible fixed assets | 22/27 | €1,922 | €1,234 | -€689 | -35.8% |
| Furniture and vehicles | 24 | €1,922 | €1,234 | -€689 | -35.8% |
| Current assets | 29/58 | €315,004 | €152,629 | -€162,375 | -51.5% |
| Amounts receivable after more than one year | 29 | €44,037 | €48,929 | +€4,892 | +11.1% |
| Trade receivables | 290 | €44,037 | €48,929 | +€4,892 | +11.1% |
| Amounts receivable within one year | 40/41 | €85,325 | €67,750 | -€17,575 | -20.6% |
| Trade receivables | 40 | €43,763 | €0 | -€43,763 | -100% |
| Other amounts receivable | 41 | €41,562 | €67,750 | +€26,188 | +63.0% |
| Cash at bank and in hand | 54/58 | €185,642 | €20,847 | -€164,795 | -88.8% |
| Deferred charges and accrued income | 490/1 | €0 | €15,103 | +€15,103 | |
| Total equity and liabilities | 10/49 | €316,926 | €153,862 | -€163,064 | -51.5% |
| Equity | 10/15 | €287,894 | €152,966 | -€134,928 | -46.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €285,394 | €155,442 | -€129,952 | -45.5% |
| Distributable reserves | 133 | €285,394 | €155,442 | -€129,952 | -45.5% |
| Profit (loss) carried forward | 14 | €0 | -€4,976 | -€4,976 | |
| Amounts payable | 17/49 | €29,032 | €896 | -€28,136 | -96.9% |
| Amounts payable within one year | 42/48 | €29,020 | €896 | -€28,124 | -96.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €29,020 | €896 | -€28,124 | -96.9% |
| Suppliers | 440/4 | €29,020 | €896 | -€28,124 | -96.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €12 | €0 | -€12 | -100% |
| Non-recurring operating income | 76A | €22,958 | €0 | -€22,958 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144 | €689 | +€545 | +379% |
| Other operating charges | 640/8 | €633 | €672 | +€39 | +6.1% |
| Non-recurring operating charges | 66A | - | €204 | +€204 | |
| Gross operating margin | 9900 | €164,994 | -€4,423 | -€169,416 | |
| Operating profit (loss) | 9901 | €164,217 | -€5,987 | -€170,204 | |
| Financial income | 75/76B | €1 | €1,070 | +€1,069 | +213,818% |
| Recurring financial income | 75 | €1 | €1,070 | +€1,069 | +213,818% |
| Financial charges | 65/66B | €260 | €59 | -€201 | -77.5% |
| Recurring financial charges | 65 | €260 | €59 | -€201 | -77.5% |
| Profit (loss) for the period before taxes | 9903 | €163,957 | -€4,976 | -€168,934 | |
| Income taxes | 67/77 | €34,006 | €0 | -€34,006 | -100% |
| Profit (loss) for the period | 9904 | €129,952 | -€4,976 | -€134,928 | |
| Profit (loss) for the period to be appropriated | 9905 | €129,952 | -€4,976 | -€134,928 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.