TISACO: 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.
TISACO
Largest movements
- Cash +€108,086
up €108,086 (+1,137%), from €9,509 to €117,595
mainly Net result for the year (+€99,529) and Current investments (+€59,280)
- Current investments -€59,280
down €59,280 (-76.9%), from €77,070 to €17,790
- Receivables within one year -€56,181
down €56,181 (-30.7%), from €183,143 to €126,962
of which Other amounts receivable: -€75,002
- Tangible fixed assets -€24,953
down €24,953 (-5.0%), from €499,212 to €474,260
of which Land and buildings: -€18,979
- Debts after one year -€29,499
down €29,499 (-11.4%), from €258,111 to €228,613
- Reserves -€20,471
down €20,471 (-5.0%), from €412,669 to €392,198
- Tax, wage and social debts +€16,970
up €16,970 (+38.4%), from €44,208 to €61,177
of which Taxes: +€19,730
- Gross operating margin +€19,846
up €19,846 (+13.0%), from €152,824 to €172,670
- Taxes +€18,931
up €18,931 (+58.0%), from €32,650 to €51,581
- Financial income +€10,343
up €10,343 (+861%), from €1,201 to €11,544
- Other operating charges -€1,751
down €1,751 (-39.3%), from €4,455 to €2,704
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 | €770,745 | €739,295 | -€31,449 | -4.1% |
| Fixed assets | 21/28 | €499,212 | €474,260 | -€24,953 | -5.0% |
| Tangible fixed assets | 22/27 | €499,212 | €474,260 | -€24,953 | -5.0% |
| Land and buildings | 22 | €482,299 | €463,321 | -€18,979 | -3.9% |
| Furniture and vehicles | 24 | €16,913 | €10,939 | -€5,974 | -35.3% |
| Current assets | 29/58 | €271,532 | €265,036 | -€6,496 | -2.4% |
| Amounts receivable within one year | 40/41 | €183,143 | €126,962 | -€56,181 | -30.7% |
| Trade receivables | 40 | €108,087 | €126,908 | +€18,820 | +17.4% |
| Other amounts receivable | 41 | €75,056 | €55 | -€75,002 | -99.9% |
| Current investments | 50/53 | €77,070 | €17,790 | -€59,280 | -76.9% |
| Cash at bank and in hand | 54/58 | €9,509 | €117,595 | +€108,086 | +1,137% |
| Deferred charges and accrued income | 490/1 | €1,810 | €2,689 | +€879 | +48.6% |
| Total equity and liabilities | 10/49 | €770,745 | €739,295 | -€31,449 | -4.1% |
| Equity | 10/15 | €432,669 | €412,198 | -€20,471 | -4.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €412,669 | €392,198 | -€20,471 | -5.0% |
| Distributable reserves | 133 | €412,669 | €392,198 | -€20,471 | -5.0% |
| Amounts payable | 17/49 | €338,076 | €327,097 | -€10,978 | -3.2% |
| Amounts payable after more than one year | 17 | €258,111 | €228,613 | -€29,499 | -11.4% |
| Financial debts | 170/4 | €258,111 | €228,613 | -€29,499 | -11.4% |
| Amounts payable within one year | 42/48 | €78,865 | €97,385 | +€18,520 | +23.5% |
| Current portion of amounts payable after more than one year | 42 | €29,052 | €29,499 | +€446 | +1.5% |
| Trade debts | 44 | €2,156 | €2,462 | +€306 | +14.2% |
| Suppliers | 440/4 | €2,156 | €2,462 | +€306 | +14.2% |
| Taxes, remuneration and social security | 45 | €44,208 | €61,177 | +€16,970 | +38.4% |
| Taxes | 450/3 | €41,447 | €61,177 | +€19,730 | +47.6% |
| Remuneration and social security | 454/9 | €2,760 | - | -€2,760 | |
| Other amounts payable | 47/48 | €3,449 | €4,247 | +€799 | +23.2% |
| Accrued charges and deferred income | 492/3 | €1,100 | €1,100 | = | 0.0% |
| Non-recurring operating income | 76A | €10,407 | - | -€10,407 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,651 | €24,953 | +€302 | +1.2% |
| Other operating charges | 640/8 | €4,455 | €2,704 | -€1,751 | -39.3% |
| Gross operating margin | 9900 | €152,824 | €172,670 | +€19,846 | +13.0% |
| Operating profit (loss) | 9901 | €123,719 | €145,013 | +€21,295 | +17.2% |
| Financial income | 75/76B | €1,201 | €11,544 | +€10,343 | +861% |
| Recurring financial income | 75 | €1,201 | €11,544 | +€10,343 | +861% |
| Financial charges | 65/66B | €5,159 | €5,446 | +€288 | +5.6% |
| Recurring financial charges | 65 | €5,159 | €5,446 | +€288 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €119,761 | €151,111 | +€31,350 | +26.2% |
| Income taxes | 67/77 | €32,650 | €51,581 | +€18,931 | +58.0% |
| Profit (loss) for the period | 9904 | €87,111 | €99,529 | +€12,418 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €87,111 | €99,529 | +€12,418 | +14.3% |
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 13 October 2026 via checked.be.