TSTM: 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.
TSTM
Largest movements
- Cash -€92,256
down €92,256 (-40.7%), from €226,761 to €134,504
mainly Contributions, distributions and other (-€270,498) and Receivables within one year (-€1,531)
- Receivables after one year -€35,057
no longer reported in 2025 (was €35,057)
- Tangible fixed assets -€4,703
down €4,703 (-22.2%), from €21,180 to €16,478
of which Furniture and vehicles: -€3,752
- Reserves -€150,000
no longer reported in 2025 (was €150,000)
- Other debts +€17,998
up €17,998 (+14.2%), from €126,500 to €144,498
- Financial charges +€3,838
up €3,838 (+340%), from €1,130 to €4,968
- Financial income -€2,991
down €2,991 (-62.2%), from €4,808 to €1,816
- Gross operating margin -€1,866
down €1,866 (-1.1%), from €165,134 to €163,268
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 | €293,474 | €162,904 | -€130,571 | -44.5% |
| Fixed assets | 21/28 | €25,680 | €20,978 | -€4,703 | -18.3% |
| Tangible fixed assets | 22/27 | €21,180 | €16,478 | -€4,703 | -22.2% |
| Plant, machinery and equipment | 23 | €1,754 | €1,539 | -€215 | -12.3% |
| Furniture and vehicles | 24 | €14,444 | €10,692 | -€3,752 | -26.0% |
| Other tangible fixed assets | 26 | €4,982 | €4,247 | -€735 | -14.8% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €267,794 | €141,926 | -€125,868 | -47.0% |
| Amounts receivable after more than one year | 29 | €35,057 | - | -€35,057 | |
| Other amounts receivable | 291 | €35,057 | - | -€35,057 | |
| Amounts receivable within one year | 40/41 | €4,131 | €5,662 | +€1,531 | +37.1% |
| Other amounts receivable | 41 | €4,131 | €5,662 | +€1,531 | +37.1% |
| Cash at bank and in hand | 54/58 | €226,761 | €134,504 | -€92,256 | -40.7% |
| Deferred charges and accrued income | 490/1 | €1,844 | €1,759 | -€85 | -4.6% |
| Total equity and liabilities | 10/49 | €293,474 | €162,904 | -€130,571 | -44.5% |
| Equity | 10/15 | €160,429 | €10,000 | -€150,429 | -93.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €150,000 | - | -€150,000 | |
| Distributable reserves | 133 | €150,000 | - | -€150,000 | |
| Profit (loss) carried forward | 14 | €429 | - | -€429 | |
| Amounts payable | 17/49 | €133,045 | €152,904 | +€19,858 | +14.9% |
| Amounts payable within one year | 42/48 | €128,833 | €148,648 | +€19,815 | +15.4% |
| Trade debts | 44 | €1,833 | €1,600 | -€234 | -12.7% |
| Suppliers | 440/4 | €1,833 | €1,600 | -€234 | -12.7% |
| Taxes, remuneration and social security | 45 | €500 | €2,550 | +€2,050 | +410% |
| Taxes | 450/3 | - | €2,550 | +€2,550 | |
| Remuneration and social security | 454/9 | €500 | - | -€500 | |
| Other amounts payable | 47/48 | €126,500 | €144,498 | +€17,998 | +14.2% |
| Accrued charges and deferred income | 492/3 | €4,212 | €4,255 | +€43 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,487 | €4,703 | +€216 | +4.8% |
| Other operating charges | 640/8 | €1,175 | €643 | -€531 | -45.2% |
| Gross operating margin | 9900 | €165,134 | €163,268 | -€1,866 | -1.1% |
| Operating profit (loss) | 9901 | €159,472 | €157,921 | -€1,551 | -1.0% |
| Financial income | 75/76B | €4,808 | €1,816 | -€2,991 | -62.2% |
| Recurring financial income | 75 | €4,808 | €1,816 | -€2,991 | -62.2% |
| Financial charges | 65/66B | €1,130 | €4,968 | +€3,838 | +340% |
| Recurring financial charges | 65 | €1,130 | €4,968 | +€3,838 | +340% |
| Profit (loss) for the period before taxes | 9903 | €163,150 | €154,770 | -€8,380 | -5.1% |
| Income taxes | 67/77 | €36,338 | €34,700 | -€1,638 | -4.5% |
| Profit (loss) for the period | 9904 | €126,812 | €120,070 | -€6,743 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €126,812 | €120,070 | -€6,743 | -5.3% |
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 27 October 2026 via checked.be.