TISA: 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.
TISA
Largest movements
- Tangible fixed assets +€49,385
up €49,385 (+259.6%), from €19,024 to €68,409
of which Furniture and vehicles: +€50,285
- Current investments -€30,821
down €30,821 (-35.9%), from €85,932 to €55,112
- Receivables within one year -€21,410
down €21,410 (-45.5%), from €47,015 to €25,605
of which Trade receivables: -€22,213
- Reserves -€49,409
down €49,409 (-40.3%), from €122,692 to €73,283
- Debts after one year +€38,061
new in 2025: €38,061
- Current portion of long-term debt +€16,578
new in 2025: €16,578
- Short-term financial debts -€6,794
down €6,794 (-50.2%), from €13,532 to €6,738
- Tax, wage and social debts -€3,680
down €3,680 (-21.5%), from €17,128 to €13,448
- Gross operating margin -€59,309
down €59,309 (-32.4%), from €182,924 to €123,615
- Taxes -€25,188
down €25,188 (-42.0%), from €59,940 to €34,752
- Depreciation +€14,241
up €14,241 (+1582.3%), from €900 to €15,141
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €163,930 | €160,245 | -€3,685 | -2.2% |
| Fixed assets | 21/28 | €19,024 | €68,409 | +€49,385 | +259.6% |
| Tangible fixed assets | 22/27 | €19,024 | €68,409 | +€49,385 | +259.6% |
| Furniture and vehicles | 24 | €15,525 | €65,810 | +€50,285 | +323.9% |
| Other tangible fixed assets | 26 | €3,499 | €2,599 | -€900 | -25.7% |
| Current assets | 29/58 | €144,906 | €91,836 | -€53,070 | -36.6% |
| Amounts receivable within one year | 40/41 | €47,015 | €25,605 | -€21,410 | -45.5% |
| Trade receivables | 40 | €47,015 | €24,802 | -€22,213 | -47.2% |
| Other amounts receivable | 41 | €0 | €803 | +€803 | |
| Current investments | 50/53 | €85,932 | €55,112 | -€30,821 | -35.9% |
| Cash at bank and in hand | 54/58 | €11,748 | €10,757 | -€991 | -8.4% |
| Deferred charges and accrued income | 490/1 | €211 | €363 | +€152 | +71.9% |
| Total equity and liabilities | 10/49 | €163,930 | €160,245 | -€3,685 | -2.2% |
| Equity | 10/15 | €122,692 | €73,283 | -€49,409 | -40.3% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €122,692 | €73,283 | -€49,409 | -40.3% |
| Distributable reserves | 133 | €122,692 | €73,283 | -€49,409 | -40.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €41,238 | €86,962 | +€45,724 | +110.9% |
| Amounts payable after more than one year | 17 | - | €38,061 | +€38,061 | |
| Financial debts | 170/4 | - | €38,061 | +€38,061 | |
| Amounts payable within one year | 42/48 | €39,988 | €47,652 | +€7,663 | +19.2% |
| Current portion of amounts payable after more than one year | 42 | - | €16,578 | +€16,578 | |
| Financial debts | 43 | €13,532 | €6,738 | -€6,794 | -50.2% |
| Credit institutions | 430/8 | €13,532 | €6,738 | -€6,794 | -50.2% |
| Trade debts | 44 | €7,550 | €7,764 | +€214 | +2.8% |
| Suppliers | 440/4 | €7,550 | €7,764 | +€214 | +2.8% |
| Taxes, remuneration and social security | 45 | €17,128 | €13,448 | -€3,680 | -21.5% |
| Taxes | 450/3 | €17,128 | €13,448 | -€3,680 | -21.5% |
| Other amounts payable | 47/48 | €1,778 | €3,123 | +€1,345 | +75.6% |
| Accrued charges and deferred income | 492/3 | €1,250 | €1,250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €900 | €15,141 | +€14,241 | +1582.3% |
| Other operating charges | 640/8 | €820 | €1,711 | +€890 | +108.5% |
| Gross operating margin | 9900 | €182,924 | €123,615 | -€59,309 | -32.4% |
| Operating profit (loss) | 9901 | €181,204 | €106,764 | -€74,440 | -41.1% |
| Financial income | 75/76B | €999 | €1,820 | +€821 | +82.2% |
| Recurring financial income | 75 | €999 | €1,820 | +€821 | +82.2% |
| Financial charges | 65/66B | €1,431 | €2,409 | +€978 | +68.3% |
| Recurring financial charges | 65 | €1,431 | €2,409 | +€978 | +68.3% |
| Profit (loss) for the period before taxes | 9903 | €180,771 | €106,175 | -€74,596 | -41.3% |
| Income taxes | 67/77 | €59,940 | €34,752 | -€25,188 | -42.0% |
| Profit (loss) for the period | 9904 | €120,832 | €71,423 | -€49,409 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €120,832 | €71,423 | -€49,409 | -40.9% |
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 5 October 2026 via checked.be.