TUSH: 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.
TUSH
Largest movements
- Tangible fixed assets -€45,972
down €45,972 (-26.2%), from €175,394 to €129,422
- Cash +€38,179
up €38,179 (+166%), from €23,051 to €61,230
mainly Trade debts (+€33,326) and Depreciation (+€29,162)
- Receivables within one year +€5,679
up €5,679 (+32.4%), from €17,512 to €23,191
of which Trade receivables: +€18,499
- Debts after one year -€85,651
down €85,651 (-44.9%), from €190,651 to €105,000
of which Financial debts: -€140,651
- Trade debts +€33,326
up €33,326 (+69.2%), from €48,182 to €81,508
- Current portion of long-term debt +€21,648
up €21,648 (+72.6%), from €29,798 to €51,446
- Other debts +€12,579
up €12,579 (+105%), from €11,935 to €24,514
- Profit (loss) carried forward +€11,018
up €11,018 (+13.5%), from -€81,837 to -€70,819
- Staff costs +€40,082
up €40,082 (+23.4%), from €170,961 to €211,043
- Depreciation -€6,181
down €6,181 (-17.5%), from €35,343 to €29,162
- Gross operating margin -€4,732
down €4,732 (-1.7%), from €275,254 to €270,522
- Financial charges -€4,457
down €4,457 (-25.8%), from €17,273 to €12,816
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €240,229 | €235,271 | -€4,958 | -2.1% |
| Fixed assets | 21/28 | €184,362 | €137,389 | -€46,972 | -25.5% |
| Intangible fixed assets | 21 | €5,997 | €4,997 | -€1,000 | -16.7% |
| Tangible fixed assets | 22/27 | €175,394 | €129,422 | -€45,972 | -26.2% |
| Plant, machinery and equipment | 23 | €10,146 | €4,668 | -€5,478 | -54.0% |
| Furniture and vehicles | 24 | €17,810 | €0 | -€17,810 | -100% |
| Other tangible fixed assets | 26 | €147,438 | €124,754 | -€22,684 | -15.4% |
| Financial fixed assets | 28 | €2,970 | €2,970 | = | 0.0% |
| Current assets | 29/58 | €55,867 | €97,881 | +€42,014 | +75.2% |
| Stocks and contracts in progress | 3 | €12,692 | €13,168 | +€476 | +3.8% |
| Stocks | 30/36 | €12,692 | €13,168 | +€476 | +3.8% |
| Amounts receivable within one year | 40/41 | €17,512 | €23,191 | +€5,679 | +32.4% |
| Trade receivables | 40 | €1,336 | €19,835 | +€18,499 | +1,385% |
| Other amounts receivable | 41 | €16,177 | €3,356 | -€12,820 | -79.3% |
| Cash at bank and in hand | 54/58 | €23,051 | €61,230 | +€38,179 | +166% |
| Deferred charges and accrued income | 490/1 | €2,612 | €292 | -€2,319 | -88.8% |
| Total equity and liabilities | 10/49 | €240,229 | €235,271 | -€4,958 | -2.1% |
| Equity | 10/15 | -€61,837 | -€50,819 | +€11,018 | +17.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€81,837 | -€70,819 | +€11,018 | +13.5% |
| Amounts payable | 17/49 | €302,066 | €286,090 | -€15,976 | -5.3% |
| Amounts payable after more than one year | 17 | €190,651 | €105,000 | -€85,651 | -44.9% |
| Financial debts | 170/4 | €140,651 | €0 | -€140,651 | -100% |
| Other amounts payable | 178/9 | €50,000 | €105,000 | +€55,000 | +110% |
| Amounts payable within one year | 42/48 | €109,256 | €177,474 | +€68,219 | +62.4% |
| Current portion of amounts payable after more than one year | 42 | €29,798 | €51,446 | +€21,648 | +72.6% |
| Trade debts | 44 | €48,182 | €81,508 | +€33,326 | +69.2% |
| Suppliers | 440/4 | €48,182 | €81,508 | +€33,326 | +69.2% |
| Taxes, remuneration and social security | 45 | €19,340 | €20,006 | +€665 | +3.4% |
| Taxes | 450/3 | €2,683 | €763 | -€1,921 | -71.6% |
| Remuneration and social security | 454/9 | €16,657 | €19,243 | +€2,586 | +15.5% |
| Other amounts payable | 47/48 | €11,935 | €24,514 | +€12,579 | +105% |
| Accrued charges and deferred income | 492/3 | €2,160 | €3,615 | +€1,456 | +67.4% |
| Remuneration, social security and pensions | 62 | €170,961 | €211,043 | +€40,082 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,343 | €29,162 | -€6,181 | -17.5% |
| Other operating charges | 640/8 | €4,773 | €6,890 | +€2,117 | +44.4% |
| Gross operating margin | 9900 | €275,254 | €270,522 | -€4,732 | -1.7% |
| Operating profit (loss) | 9901 | €64,177 | €23,427 | -€40,750 | -63.5% |
| Financial income | 75/76B | €948 | €396 | -€551 | -58.2% |
| Recurring financial income | 75 | €948 | €396 | -€551 | -58.2% |
| Financial charges | 65/66B | €17,273 | €12,816 | -€4,457 | -25.8% |
| Recurring financial charges | 65 | €17,273 | €12,816 | -€4,457 | -25.8% |
| Profit (loss) for the period before taxes | 9903 | €47,852 | €11,007 | -€36,845 | -77.0% |
| Income taxes | 67/77 | - | -€11 | -€11 | |
| Profit (loss) for the period | 9904 | €47,852 | €11,018 | -€36,833 | -77.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,852 | €11,018 | -€36,833 | -77.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.