TAISHO: 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.
What changed
TAISHO
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€5,926
2024 · -€115-€5,811
Equity
€1.3m
2024 · €1.3m-€19,689
Cash
€147
2024 · €1,165-€1,018
Balance sheet total
€2.9m
2024 · €3.0m-€70,741
Largest movements
Assets
- Stocks and contracts -€70,000
down €70,000 (-20.0%), from €350,000 to €280,000
- Receivables within one year +€61,374
up €61,374 (+40.2%), from €152,835 to €214,209
of which Other amounts receivable: +€75,379
- Tangible fixed assets -€51,438
down €51,438 (-2.1%), from €2.4m to €2.4m
of which Leasing and similar rights: -€32,554
Equity and liabilities
- Debts after one year -€79,018
down €79,018 (-8.3%), from €950,653 to €871,634
of which Financial debts: -€79,018
- Trade debts +€32,011
up €32,011 (+8.1%), from €395,865 to €427,876
Income statement
- Write-downs +€70,000
new in 2025: €70,000
- Gross operating margin +€64,611
up €64,611 (+30.8%), from €209,636 to €274,248
- Depreciation -€17,689
down €17,689 (-13.5%), from €130,898 to €113,208
- Staff costs +€7,703
up €7,703 (+24.8%), from €31,096 to €38,798
- Financial income -€3,531
down €3,531 (-62.7%), from €5,636 to €2,105
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.
Result 2024
-€115
Gross operating margin
+€64,611
Staff costs
-€7,703
Depreciation
+€17,689
Write-downs
-€70,000
Other operating charges
-€2,484
Financial income
-€3,531
Financial charges
-€2,032
Taxes
-€2,362
Result 2025
-€5,926
Cash bridge derived
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.
From operations
+€139,656
Investment
-€61,770
Financing
-€78,904
Cash 2024
€1,165
From operations (derived)
+€139,656
Net result for the year
-€5,926
Depreciation
+€113,208
Receivables after one year
+€13,319
Stocks and contracts
+€70,000
Receivables within one year
-€61,374
Deferred charges and accrued income
-€3,660
Provisions
-€11,342
Trade debts
+€32,011
Tax, wage and social debts
-€12,514
Other debts
+€8,579
Accrued charges and deferred income
-€2,644
Investment (derived)
-€61,770
Investment in fixed assets (net)
-€61,770
Financing
-€78,904
Debts after one year
-€79,018
Current portion of long-term debt
+€8,426
Short-term financial debts
+€5,451
Contributions, distributions and other
-€13,762
Cash 2025
€147
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,016,440 | €2,945,698 | -€70,741 | -2.3% |
| Fixed assets | 21/28 | €2,490,433 | €2,438,995 | -€51,438 | -2.1% |
| Tangible fixed assets | 22/27 | €2,428,082 | €2,376,644 | -€51,438 | -2.1% |
| Land and buildings | 22 | €873,786 | €845,227 | -€28,559 | -3.3% |
| Plant, machinery and equipment | 23 | €4,053 | €3,202 | -€851 | -21.0% |
| Furniture and vehicles | 24 | €727 | €11,253 | +€10,527 | +1448.7% |
| Leasing and similar rights | 25 | €1,549,516 | €1,516,962 | -€32,554 | -2.1% |
| Financial fixed assets | 28 | €62,351 | €62,351 | = | 0.0% |
| Current assets | 29/58 | €526,007 | €506,703 | -€19,303 | -3.7% |
| Amounts receivable after more than one year | 29 | €13,319 | - | -€13,319 | |
| Other amounts receivable | 291 | €13,319 | - | -€13,319 | |
| Stocks and contracts in progress | 3 | €350,000 | €280,000 | -€70,000 | -20.0% |
| Stocks | 30/36 | €350,000 | €280,000 | -€70,000 | -20.0% |
| Amounts receivable within one year | 40/41 | €152,835 | €214,209 | +€61,374 | +40.2% |
| Trade receivables | 40 | €52,501 | €38,496 | -€14,005 | -26.7% |
| Other amounts receivable | 41 | €100,334 | €175,714 | +€75,379 | +75.1% |
| Cash at bank and in hand | 54/58 | €1,165 | €147 | -€1,018 | -87.4% |
| Deferred charges and accrued income | 490/1 | €8,688 | €12,347 | +€3,660 | +42.1% |
| Total equity and liabilities | 10/49 | €3,016,440 | €2,945,698 | -€70,741 | -2.3% |
| Equity | 10/15 | €1,345,688 | €1,325,999 | -€19,689 | -1.5% |
| Contributions | 10/11 | €424,200 | €424,200 | = | 0.0% |
| Capital | 10 | €424,200 | €424,200 | = | 0.0% |
| Issued capital | 100 | €424,200 | €424,200 | = | 0.0% |
| Reserves | 13 | €866,451 | €837,467 | -€28,984 | -3.3% |
| Non-distributable reserves | 130/1 | €42,420 | €42,420 | = | 0.0% |
| Legal reserve | 130 | €42,420 | €42,420 | = | 0.0% |
| Tax-exempt reserves | 132 | €482,730 | €453,746 | -€28,984 | -6.0% |
| Distributable reserves | 133 | €341,301 | €341,301 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,037 | €64,332 | +€9,295 | +16.9% |
| Provisions and deferred taxes | 16 | €159,229 | €147,887 | -€11,342 | -7.1% |
| Deferred taxes | 168 | €159,229 | €147,887 | -€11,342 | -7.1% |
| Amounts payable | 17/49 | €1,511,523 | €1,471,812 | -€39,710 | -2.6% |
| Amounts payable after more than one year | 17 | €950,653 | €871,634 | -€79,018 | -8.3% |
| Financial debts | 170/4 | €935,253 | €856,234 | -€79,018 | -8.4% |
| Other amounts payable | 178/9 | €15,400 | €15,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €543,548 | €585,500 | +€41,952 | +7.7% |
| Current portion of amounts payable after more than one year | 42 | €108,865 | €117,291 | +€8,426 | +7.7% |
| Financial debts | 43 | €1,612 | €7,063 | +€5,451 | +338.2% |
| Credit institutions | 430/8 | €1,612 | €7,063 | +€5,451 | +338.2% |
| Trade debts | 44 | €395,865 | €427,876 | +€32,011 | +8.1% |
| Suppliers | 440/4 | €395,865 | €427,876 | +€32,011 | +8.1% |
| Taxes, remuneration and social security | 45 | €21,314 | €8,800 | -€12,514 | -58.7% |
| Taxes | 450/3 | €17,736 | €4,467 | -€13,269 | -74.8% |
| Remuneration and social security | 454/9 | €3,578 | €4,333 | +€755 | +21.1% |
| Other amounts payable | 47/48 | €15,892 | €24,470 | +€8,579 | +54.0% |
| Accrued charges and deferred income | 492/3 | €17,322 | €14,678 | -€2,644 | -15.3% |
| Remuneration, social security and pensions | 62 | €31,096 | €38,798 | +€7,703 | +24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,898 | €113,208 | -€17,689 | -13.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €70,000 | +€70,000 | |
| Other operating charges | 640/8 | €25,548 | €28,032 | +€2,484 | +9.7% |
| Gross operating margin | 9900 | €209,636 | €274,248 | +€64,611 | +30.8% |
| Operating profit (loss) | 9901 | €22,095 | €24,209 | +€2,114 | +9.6% |
| Financial income | 75/76B | €5,636 | €2,105 | -€3,531 | -62.7% |
| Recurring financial income | 75 | €5,636 | €2,105 | -€3,531 | -62.7% |
| Financial charges | 65/66B | €37,083 | €39,115 | +€2,032 | +5.5% |
| Recurring financial charges | 65 | €37,083 | €39,115 | +€2,032 | +5.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,353 | -€12,802 | -€3,449 | -36.9% |
| Transfer from deferred taxes | 780 | €11,342 | €11,342 | = | 0.0% |
| Income taxes | 67/77 | €2,105 | €4,467 | +€2,362 | +112.2% |
| Profit (loss) for the period | 9904 | -€115 | -€5,926 | -€5,811 | -5049.4% |
| Transfer from tax-exempt reserves | 789 | €28,984 | €28,984 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €28,869 | €23,058 | -€5,811 | -20.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.