TSY: 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.
TSY
Largest movements
- Receivables within one year +€148,057
up €148,057 (+30.7%), from €482,831 to €630,889
of which Other amounts receivable: +€153,567
- Deferred charges and accrued income -€67,994
down €67,994 (-96.1%), from €70,771 to €2,777
- Tangible fixed assets +€13,157
up €13,157 (+9.0%), from €146,353 to €159,509
of which Furniture and vehicles: +€26,455
- Cash -€11,529
down €11,529 (-61.5%), from €18,738 to €7,209
mainly Receivables within one year (-€148,057) and Investment in fixed assets (net) (-€68,706)
- Financial fixed assets +€10,540
up €10,540 (+75.3%), from €14,000 to €24,540
- Reserves +€100,000
up €100,000 (+5376.3%), from €1,860 to €101,860
- Other debts +€27,000
new in 2024: €27,000
- Debts after one year -€22,337
down €22,337 (-47.1%), from €47,386 to €25,049
- Trade debts -€18,722
down €18,722 (-6.5%), from €290,131 to €271,409
- Gross operating margin +€306,716
up €306,716 (+51.0%), from €601,904 to €908,620
- Staff costs +€182,434
up €182,434 (+38.6%), from €472,728 to €655,162
- Taxes +€31,424
up €31,424 (+128.4%), from €24,470 to €55,893
- Depreciation +€10,704
up €10,704 (+31.2%), from €34,306 to €45,010
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 | €732,693 | €824,924 | +€92,231 | +12.6% |
| Fixed assets | 21/28 | €160,353 | €184,049 | +€23,697 | +14.8% |
| Tangible fixed assets | 22/27 | €146,353 | €159,509 | +€13,157 | +9.0% |
| Plant, machinery and equipment | 23 | - | €4,483 | +€4,483 | |
| Furniture and vehicles | 24 | €33,856 | €60,312 | +€26,455 | +78.1% |
| Leasing and similar rights | 25 | €112,496 | €94,715 | -€17,781 | -15.8% |
| Financial fixed assets | 28 | €14,000 | €24,540 | +€10,540 | +75.3% |
| Current assets | 29/58 | €572,340 | €640,875 | +€68,535 | +12.0% |
| Amounts receivable within one year | 40/41 | €482,831 | €630,889 | +€148,057 | +30.7% |
| Trade receivables | 40 | €354,182 | €348,672 | -€5,510 | -1.6% |
| Other amounts receivable | 41 | €128,649 | €282,217 | +€153,567 | +119.4% |
| Cash at bank and in hand | 54/58 | €18,738 | €7,209 | -€11,529 | -61.5% |
| Deferred charges and accrued income | 490/1 | €70,771 | €2,777 | -€67,994 | -96.1% |
| Total equity and liabilities | 10/49 | €732,693 | €824,924 | +€92,231 | +12.6% |
| Equity | 10/15 | €207,434 | €312,795 | +€105,361 | +50.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €101,860 | +€100,000 | +5376.3% |
| Distributable reserves | 133 | €1,860 | €101,860 | +€100,000 | +5376.3% |
| Profit (loss) carried forward | 14 | €186,974 | €192,335 | +€5,361 | +2.9% |
| Amounts payable | 17/49 | €525,259 | €512,129 | -€13,130 | -2.5% |
| Amounts payable after more than one year | 17 | €47,386 | €25,049 | -€22,337 | -47.1% |
| Financial debts | 170/4 | €47,386 | €25,049 | -€22,337 | -47.1% |
| Amounts payable within one year | 42/48 | €477,873 | €487,080 | +€9,207 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €33,601 | €34,641 | +€1,040 | +3.1% |
| Financial debts | 43 | - | €584 | +€584 | |
| Credit institutions | 430/8 | - | €584 | +€584 | |
| Trade debts | 44 | €290,131 | €271,409 | -€18,722 | -6.5% |
| Suppliers | 440/4 | €290,131 | €271,409 | -€18,722 | -6.5% |
| Taxes, remuneration and social security | 45 | €154,140 | €153,446 | -€694 | -0.5% |
| Taxes | 450/3 | €65,470 | €87,863 | +€22,393 | +34.2% |
| Remuneration and social security | 454/9 | €88,670 | €65,583 | -€23,087 | -26.0% |
| Other amounts payable | 47/48 | - | €27,000 | +€27,000 | |
| Remuneration, social security and pensions | 62 | €472,728 | €655,162 | +€182,434 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,306 | €45,010 | +€10,704 | +31.2% |
| Other operating charges | 640/8 | €4,546 | €13,136 | +€8,589 | +188.9% |
| Gross operating margin | 9900 | €601,904 | €908,620 | +€306,716 | +51.0% |
| Operating profit (loss) | 9901 | €90,324 | €195,312 | +€104,988 | +116.2% |
| Financial income | 75/76B | €4,551 | - | -€4,551 | |
| Recurring financial income | 75 | €4,551 | - | -€4,551 | |
| Non-recurring financial income | 76B | €4,551 | - | -€4,551 | |
| Financial charges | 65/66B | €7,710 | €7,058 | -€652 | -8.5% |
| Recurring financial charges | 65 | €4,285 | €7,058 | +€2,773 | +64.7% |
| Non-recurring financial charges | 66B | €3,425 | - | -€3,425 | |
| Profit (loss) for the period before taxes | 9903 | €87,165 | €188,255 | +€101,089 | +116.0% |
| Income taxes | 67/77 | €24,470 | €55,893 | +€31,424 | +128.4% |
| Profit (loss) for the period | 9904 | €62,696 | €132,361 | +€69,666 | +111.1% |
| Profit (loss) for the period to be appropriated | 9905 | €62,696 | €132,361 | +€69,666 | +111.1% |
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 2 October 2026 via checked.be.