TST: 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.
TST
Largest movements
- Stocks and contracts +€15,902
up €15,902 (+36.6%), from €43,426 to €59,328
- Tangible fixed assets -€3,978
down €3,978 (-17.4%), from €22,897 to €18,919
of which Plant, machinery and equipment: -€3,053
- Intangible fixed assets -€3,688
down €3,688 (-86.8%), from €4,251 to €563
- Receivables within one year +€3,174
up €3,174 (+64.2%), from €4,946 to €8,120
of which Trade receivables: +€3,935
- Cash -€1,125
down €1,125 (-5.1%), from €21,886 to €20,761
mainly Contributions, distributions and other (-€32,200) and Stocks and contracts (-€15,902)
- Other debts +€22,381
up €22,381 (+65.4%), from €34,205 to €56,585
- Profit (loss) carried forward -€13,482
down €13,482 (-31.0%), from €43,446 to €29,964
- Trade debts +€2,271
up €2,271, from €0 to €2,271
- Gross operating margin +€5,021
up €5,021 (+15.1%), from €33,275 to €38,296
- Staff costs +€2,241
new in 2025: €2,241
- Taxes +€1,331
up €1,331 (+33.1%), from €4,025 to €5,356
- Other operating charges -€1,291
down €1,291 (-57.2%), from €2,255 to €964
- Financial charges +€1,034
up €1,034 (+1267.2%), from €82 to €1,116
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 | €97,413 | €108,423 | +€11,010 | +11.3% |
| Fixed assets | 21/28 | €27,148 | €19,482 | -€7,666 | -28.2% |
| Intangible fixed assets | 21 | €4,251 | €563 | -€3,688 | -86.8% |
| Tangible fixed assets | 22/27 | €22,897 | €18,919 | -€3,978 | -17.4% |
| Plant, machinery and equipment | 23 | €9,713 | €6,660 | -€3,053 | -31.4% |
| Furniture and vehicles | 24 | €13,184 | €12,259 | -€925 | -7.0% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Current assets | 29/58 | €70,266 | €88,941 | +€18,676 | +26.6% |
| Stocks and contracts in progress | 3 | €43,426 | €59,328 | +€15,902 | +36.6% |
| Stocks | 30/36 | €43,426 | €59,328 | +€15,902 | +36.6% |
| Amounts receivable within one year | 40/41 | €4,946 | €8,120 | +€3,174 | +64.2% |
| Trade receivables | 40 | €2,686 | €6,621 | +€3,935 | +146.5% |
| Other amounts receivable | 41 | €2,260 | €1,499 | -€761 | -33.7% |
| Cash at bank and in hand | 54/58 | €21,886 | €20,761 | -€1,125 | -5.1% |
| Deferred charges and accrued income | 490/1 | €7 | €732 | +€724 | +9964.0% |
| Total equity and liabilities | 10/49 | €97,413 | €108,423 | +€11,010 | +11.3% |
| Equity | 10/15 | €62,046 | €48,564 | -€13,482 | -21.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,446 | €29,964 | -€13,482 | -31.0% |
| Amounts payable | 17/49 | €35,368 | €59,859 | +€24,491 | +69.2% |
| Amounts payable within one year | 42/48 | €35,028 | €59,859 | +€24,831 | +70.9% |
| Trade debts | 44 | €0 | €2,271 | +€2,271 | |
| Suppliers | 440/4 | €0 | €2,271 | +€2,271 | |
| Taxes, remuneration and social security | 45 | €823 | €1,002 | +€179 | +21.8% |
| Taxes | 450/3 | €25 | €1,002 | +€978 | +3943.8% |
| Remuneration and social security | 454/9 | €798 | - | -€798 | |
| Other amounts payable | 47/48 | €34,205 | €56,585 | +€22,381 | +65.4% |
| Accrued charges and deferred income | 492/3 | €340 | - | -€340 | |
| Remuneration, social security and pensions | 62 | - | €2,241 | +€2,241 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,795 | €9,503 | +€708 | +8.1% |
| Other operating charges | 640/8 | €2,255 | €964 | -€1,291 | -57.2% |
| Non-recurring operating charges | 66A | - | €419 | +€419 | |
| Gross operating margin | 9900 | €33,275 | €38,296 | +€5,021 | +15.1% |
| Operating profit (loss) | 9901 | €22,224 | €25,168 | +€2,944 | +13.2% |
| Financial income | 75/76B | - | €22 | +€22 | |
| Recurring financial income | 75 | - | €22 | +€22 | |
| Financial charges | 65/66B | €82 | €1,116 | +€1,034 | +1267.2% |
| Recurring financial charges | 65 | €82 | €1,116 | +€1,034 | +1267.2% |
| Profit (loss) for the period before taxes | 9903 | €22,143 | €24,074 | +€1,931 | +8.7% |
| Income taxes | 67/77 | €4,025 | €5,356 | +€1,331 | +33.1% |
| Profit (loss) for the period | 9904 | €18,118 | €18,718 | +€600 | +3.3% |
| Profit (loss) for the period to be appropriated | 9905 | €18,118 | €18,718 | +€600 | +3.3% |
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 4 October 2026 via checked.be.