TUSA GROUP: 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.
TUSA GROUP
Largest movements
- Receivables within one year +€40,928
up €40,928 (+523%), from €7,824 to €48,751
- Tangible fixed assets -€8,300
down €8,300 (-22.0%), from €37,738 to €29,438
- Financial fixed assets +€5,000
up €5,000 (+55.6%), from €9,000 to €14,000
- Deferred charges and accrued income +€1,864
new in 2025: €1,864
- Other debts +€71,866
up €71,866 (+212%), from €33,882 to €105,747
- Tax, wage and social debts -€32,614
down €32,614 (-56.6%), from €57,627 to €25,013
of which Remuneration and social security: -€17,592
- Accrued charges and deferred income -€7,150
no longer reported in 2025 (was €7,150)
- Profit (loss) carried forward +€4,955
up €4,955 (+10.0%), from -€49,642 to -€44,686
- Trade debts +€1,683
up €1,683 (+464%), from €363 to €2,046
- Gross operating margin +€59,586
up €59,586 (+173%), from €34,529 to €94,115
- Staff costs +€53,975
up €53,975 (+2,266%), from €2,382 to €56,357
- Taxes +€18,457
new in 2025: €18,457
- Other operating charges +€4,536
up €4,536 (+570%), from €796 to €5,332
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 | €57,439 | €96,179 | +€38,740 | +67.4% |
| Fixed assets | 21/28 | €46,738 | €43,438 | -€3,300 | -7.1% |
| Tangible fixed assets | 22/27 | €37,738 | €29,438 | -€8,300 | -22.0% |
| Furniture and vehicles | 24 | €37,738 | €29,438 | -€8,300 | -22.0% |
| Financial fixed assets | 28 | €9,000 | €14,000 | +€5,000 | +55.6% |
| Current assets | 29/58 | €10,702 | €52,741 | +€42,040 | +393% |
| Amounts receivable within one year | 40/41 | €7,824 | €48,751 | +€40,928 | +523% |
| Trade receivables | 40 | €7,824 | €48,751 | +€40,928 | +523% |
| Cash at bank and in hand | 54/58 | €2,878 | €2,126 | -€752 | -26.1% |
| Deferred charges and accrued income | 490/1 | - | €1,864 | +€1,864 | |
| Total equity and liabilities | 10/49 | €57,439 | €96,179 | +€38,740 | +67.4% |
| Equity | 10/15 | -€41,582 | -€36,626 | +€4,955 | +11.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,642 | -€44,686 | +€4,955 | +10.0% |
| Amounts payable | 17/49 | €99,021 | €132,806 | +€33,784 | +34.1% |
| Amounts payable within one year | 42/48 | €91,871 | €132,806 | +€40,935 | +44.6% |
| Trade debts | 44 | €363 | €2,046 | +€1,683 | +464% |
| Suppliers | 440/4 | €363 | €2,046 | +€1,683 | +464% |
| Taxes, remuneration and social security | 45 | €57,627 | €25,013 | -€32,614 | -56.6% |
| Taxes | 450/3 | €34,167 | €19,146 | -€15,021 | -44.0% |
| Remuneration and social security | 454/9 | €23,459 | €5,867 | -€17,592 | -75.0% |
| Other amounts payable | 47/48 | €33,882 | €105,747 | +€71,866 | +212% |
| Accrued charges and deferred income | 492/3 | €7,150 | - | -€7,150 | |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Remuneration, social security and pensions | 62 | €2,382 | €56,357 | +€53,975 | +2,266% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,235 | €8,300 | -€935 | -10.1% |
| Other operating charges | 640/8 | €796 | €5,332 | +€4,536 | +570% |
| Gross operating margin | 9900 | €34,529 | €94,115 | +€59,586 | +173% |
| Operating profit (loss) | 9901 | €22,116 | €24,126 | +€2,010 | +9.1% |
| Financial income | 75/76B | €20 | €1 | -€18 | -92.5% |
| Recurring financial income | 75 | €20 | €1 | -€18 | -92.5% |
| Financial charges | 65/66B | €109 | €716 | +€607 | +559% |
| Recurring financial charges | 65 | €109 | €716 | +€607 | +559% |
| Profit (loss) for the period before taxes | 9903 | €22,027 | €23,412 | +€1,385 | +6.3% |
| Income taxes | 67/77 | - | €18,457 | +€18,457 | |
| Profit (loss) for the period | 9904 | €22,027 | €4,955 | -€17,071 | -77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,027 | €4,955 | -€17,071 | -77.5% |
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 20 October 2026 via checked.be.