TINC: 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
TINC
NACE 64.999, Other financial services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€26.4m
2024 · €24.1m+€2.3m
Equity
€543.4m
2024 · €424.9m+€118.5m
Cash
€1.8m
2024 · €889,611+€911,072
Balance sheet total
€622.7m
2024 · €433.1m+€189.6m
Largest movements
Assets
- Financial fixed assets +€186.9m
up €186.9m (+44.0%), from €424.8m to €611.7m
of which Affiliated companies: +€228.4m
Equity and liabilities
- Contributions +€98.7m
up €98.7m (+34.3%), from €288.0m to €386.6m
of which Outside capital: +€80.4m
- Short-term financial debts +€70.9m
up €70.9m (+1027.5%), from €6.9m to €77.8m
- Reserves +€19.9m
up €19.9m (+17.0%), from €116.9m to €136.8m
of which Distributable reserves: +€18.5m
Income statement
- Services and other goods +€2.0m
up €2.0m (+31.4%), from €6.5m to €8.6m
- Financial charges +€1.7m
up €1.7m (+137.1%), from €1.2m to €2.9m
- Other operating charges +€382,595
up €382,595 (+152.2%), from €251,433 to €634,028
- Taxes -€315,986
down €315,986, from €315,633 to -€353
of which Taxes: -€315,633
- Depreciation -€249,982
down €249,982 (-52.0%), from €480,604 to €230,622
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
€24.1m
Turnover
+€204,716
Other operating income
-€4,178
Services and other goods
-€2.0m
Depreciation
+€249,982
Other operating charges
-€382,595
Financial income
-€2.7m
Financial charges
-€1.7m
Other financial items
+€8.4m
Taxes
+€315,986
Result 2025
€26.4m
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
+€26.9m
Investment
-€189.0m
Financing
+€163.0m
Cash 2024
€889,611
From operations (derived)
+€26.9m
Net result for the year
+€26.4m
Depreciation
+€230,622
Receivables within one year
+€2.1m
Deferred charges and accrued income
-€2.0m
Smaller working-capital items
+€165,767
Investment (derived)
-€189.0m
Investment in fixed assets (net)
-€189.0m
Financing
+€163.0m
Short-term financial debts
+€70.9m
Contributions, distributions and other
+€92.1m
Cash 2025
€1.8m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €433,127,629 | €622,720,653 | +€189.6m | +43.8% |
| Formation expenses | 20 | - | €1,899,308 | +€1.9m | |
| Fixed assets | 21/28 | €424,849,496 | €611,739,979 | +€186.9m | +44.0% |
| Intangible fixed assets | 21 | €3,706 | €303 | -€3,403 | -91.8% |
| Financial fixed assets | 28 | €424,845,790 | €611,739,676 | +€186.9m | +44.0% |
| Affiliated companies | 280/1 | €351,830,455 | €580,237,807 | +€228.4m | +64.9% |
| Participating interests | 280 | €281,420,317 | €497,774,996 | +€216.4m | +76.9% |
| Amounts receivable | 281 | €70,410,138 | €82,462,811 | +€12.1m | +17.1% |
| Companies linked by participating interests | 282/3 | €58,813,216 | - | -€58.8m | |
| Participating interests | 282 | €54,511,205 | - | -€54.5m | |
| Amounts receivable | 283 | €4,302,011 | - | -€4.3m | |
| Other financial fixed assets | 284/8 | €14,202,119 | €31,501,869 | +€17.3m | +121.8% |
| Amounts receivable and cash guarantees | 285/8 | €14,202,119 | €31,501,869 | +€17.3m | +121.8% |
| Current assets | 29/58 | €8,278,133 | €9,081,366 | +€803,233 | +9.7% |
| Amounts receivable within one year | 40/41 | €5,388,176 | €3,248,344 | -€2.1m | -39.7% |
| Trade receivables | 40 | €65,294 | €107,116 | +€41,822 | +64.1% |
| Other amounts receivable | 41 | €5,322,882 | €3,141,228 | -€2.2m | -41.0% |
| Cash at bank and in hand | 54/58 | €889,611 | €1,800,683 | +€911,072 | +102.4% |
| Deferred charges and accrued income | 490/1 | €2,000,346 | €4,032,339 | +€2.0m | +101.6% |
| Total equity and liabilities | 10/49 | €433,127,629 | €622,720,653 | +€189.6m | +43.8% |
| Equity | 10/15 | €424,892,383 | €543,419,640 | +€118.5m | +27.9% |
| Contributions | 10/11 | €287,957,308 | €386,623,973 | +€98.7m | +34.3% |
| Capital | 10 | €113,268,771 | €131,571,801 | +€18.3m | +16.2% |
| Issued capital | 100 | €113,268,771 | €131,571,801 | +€18.3m | +16.2% |
| Outside capital | 11 | €174,688,537 | €255,052,172 | +€80.4m | +46.0% |
| Share premium | 1100/10 | €174,688,537 | €255,052,172 | +€80.4m | +46.0% |
| Reserves | 13 | €116,935,075 | €136,795,667 | +€19.9m | +17.0% |
| Non-distributable reserves | 130/1 | €8,163,799 | €9,484,102 | +€1.3m | +16.2% |
| Legal reserve | 130 | €8,163,799 | €9,484,102 | +€1.3m | +16.2% |
| Distributable reserves | 133 | €108,771,276 | €127,311,565 | +€18.5m | +17.0% |
| Profit (loss) carried forward | 14 | €20,000,000 | €20,000,000 | = | 0.0% |
| Amounts payable | 17/49 | €8,235,246 | €79,301,013 | +€71.1m | +862.9% |
| Amounts payable within one year | 42/48 | €8,080,662 | €78,983,453 | +€70.9m | +877.4% |
| Financial debts | 43 | €6,900,000 | €77,800,000 | +€70.9m | +1027.5% |
| Credit institutions | 430/8 | €6,900,000 | €77,800,000 | +€70.9m | +1027.5% |
| Trade debts | 44 | €1,180,662 | €1,183,453 | +€2,791 | +0.2% |
| Suppliers | 440/4 | €1,180,662 | €1,183,453 | +€2,791 | +0.2% |
| Accrued charges and deferred income | 492/3 | €154,584 | €317,560 | +€162,976 | +105.4% |
| Operating income | 70/76A | €595,951 | €796,489 | +€200,538 | +33.7% |
| Turnover | 70 | €591,387 | €796,103 | +€204,716 | +34.6% |
| Other operating income | 74 | €4,564 | €386 | -€4,178 | -91.5% |
| Operating charges | 60/66A | €7,242,570 | €9,420,031 | +€2.2m | +30.1% |
| Services and other goods | 61 | €6,510,533 | €8,555,381 | +€2.0m | +31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €480,604 | €230,622 | -€249,982 | -52.0% |
| Other operating charges | 640/8 | €251,433 | €634,028 | +€382,595 | +152.2% |
| Operating profit (loss) | 9901 | -€6,646,619 | -€8,623,542 | -€2.0m | -29.7% |
| Recurring financial income | 75 | €29,767,387 | €27,035,557 | -€2.7m | -9.2% |
| Income from financial fixed assets | 750 | €28,953,752 | €25,989,407 | -€3.0m | -10.2% |
| Income from current assets | 751 | €62,551 | €26,149 | -€36,402 | -58.2% |
| Other financial income | 752/9 | €751,084 | €1,020,001 | +€268,917 | +35.8% |
| Non-recurring financial income | 76B | €2,574,009 | €10,940,442 | +€8.4m | +325.0% |
| Financial charges | 65/66B | €1,242,989 | €2,946,763 | +€1.7m | +137.1% |
| Recurring financial charges | 65 | €1,242,989 | €2,946,763 | +€1.7m | +137.1% |
| Debt charges | 650 | €1,024,806 | €2,684,173 | +€1.7m | +161.9% |
| Other financial charges | 652/9 | €218,183 | €262,590 | +€44,407 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €24,451,788 | €26,405,694 | +€2.0m | +8.0% |
| Income taxes | 67/77 | €315,633 | -€353 | -€315,986 | |
| Taxes | 670/3 | €315,633 | - | -€315,633 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €353 | +€353 | |
| Profit (loss) for the period | 9904 | €24,136,155 | €26,406,047 | +€2.3m | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,136,155 | €26,406,047 | +€2.3m | +9.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.