TSU: 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.
TSU
Largest movements
- Receivables within one year +€15,870
up €15,870 (+7.9%), from €200,615 to €216,485
of which Trade receivables: +€13,500
- Cash +€4,057
up €4,057 (+18.5%), from €21,990 to €26,047
mainly Net result for the year (+€58,139) and Depreciation (+€15,256)
- Financial fixed assets +€3,000
new in 2024: €3,000
- Profit (loss) carried forward +€58,139
up €58,139 (+75.9%), from €76,622 to €134,761
- Trade debts -€23,703
down €23,703 (-34.7%), from €68,369 to €44,667
- Accrued charges and deferred income -€12,425
no longer reported in 2024 (was €12,425)
- Current portion of long-term debt -€4,642
down €4,642 (-30.1%), from €15,406 to €10,764
- Purchases and services +€316,058
new in 2024: €316,058
- Gross operating margin +€65,981
up €65,981 (+149.5%), from €44,148 to €110,128
- Taxes +€16,849
up €16,849 (+285.2%), from €5,909 to €22,758
- Depreciation +€3,940
up €3,940 (+34.8%), from €11,315 to €15,256
- Financial charges -€3,527
down €3,527 (-26.7%), from €13,201 to €9,673
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,116 | €299,193 | +€20,077 | +7.2% |
| Fixed assets | 21/28 | €56,512 | €56,661 | +€149 | +0.3% |
| Tangible fixed assets | 22/27 | €56,512 | €53,661 | -€2,851 | -5.0% |
| Plant, machinery and equipment | 23 | €858 | €12,165 | +€11,307 | +1317.3% |
| Furniture and vehicles | 24 | €55,653 | €41,495 | -€14,158 | -25.4% |
| Financial fixed assets | 28 | - | €3,000 | +€3,000 | |
| Current assets | 29/58 | €222,604 | €242,532 | +€19,928 | +9.0% |
| Amounts receivable within one year | 40/41 | €200,615 | €216,485 | +€15,870 | +7.9% |
| Trade receivables | 40 | €179,752 | €193,252 | +€13,500 | +7.5% |
| Other amounts receivable | 41 | €20,863 | €23,233 | +€2,370 | +11.4% |
| Cash at bank and in hand | 54/58 | €21,990 | €26,047 | +€4,057 | +18.5% |
| Total equity and liabilities | 10/49 | €279,116 | €299,193 | +€20,077 | +7.2% |
| Equity | 10/15 | €95,222 | €153,361 | +€58,139 | +61.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €76,622 | €134,761 | +€58,139 | +75.9% |
| Amounts payable | 17/49 | €183,894 | €145,832 | -€38,062 | -20.7% |
| Amounts payable after more than one year | 17 | €17,152 | €17,687 | +€534 | +3.1% |
| Financial debts | 170/4 | €17,152 | €17,687 | +€534 | +3.1% |
| Amounts payable within one year | 42/48 | €154,317 | €128,145 | -€26,172 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €15,406 | €10,764 | -€4,642 | -30.1% |
| Trade debts | 44 | €68,369 | €44,667 | -€23,703 | -34.7% |
| Suppliers | 440/4 | €68,369 | €44,667 | -€23,703 | -34.7% |
| Advances received on contracts in progress | 46 | €43,149 | €43,149 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €27,394 | €29,566 | +€2,172 | +7.9% |
| Taxes | 450/3 | €27,394 | €29,566 | +€2,172 | +7.9% |
| Accrued charges and deferred income | 492/3 | €12,425 | - | -€12,425 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €316,058 | +€316,058 | |
| Remuneration, social security and pensions | 62 | €28 | - | -€28 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,315 | €15,256 | +€3,940 | +34.8% |
| Other operating charges | 640/8 | €1,385 | €4,312 | +€2,926 | +211.2% |
| Gross operating margin | 9900 | €44,148 | €110,128 | +€65,981 | +149.5% |
| Operating profit (loss) | 9901 | €31,419 | €90,561 | +€59,142 | +188.2% |
| Financial income | 75/76B | €0 | €9 | +€9 | +45550.0% |
| Recurring financial income | 75 | €0 | €9 | +€9 | +45550.0% |
| Financial charges | 65/66B | €13,201 | €9,673 | -€3,527 | -26.7% |
| Recurring financial charges | 65 | €13,201 | €9,673 | -€3,527 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €18,218 | €80,897 | +€62,679 | +344.0% |
| Income taxes | 67/77 | €5,909 | €22,758 | +€16,849 | +285.2% |
| Profit (loss) for the period | 9904 | €12,310 | €58,139 | +€45,829 | +372.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,310 | €58,139 | +€45,829 | +372.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.