TISCOTEX: 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.
TISCOTEX
Largest movements
- Stocks and contracts -€487,399
down €487,399 (-14.9%), from €3.3m to €2.8m
- Current investments +€444,100
new in 2025: €444,100
- Receivables within one year -€189,705
down €189,705 (-12.0%), from €1.6m to €1.4m
of which Trade receivables: -€126,679
- Tangible fixed assets -€115,225
down €115,225 (-17.4%), from €662,930 to €547,705
of which Other tangible fixed assets: -€66,767
- Cash +€78,153
up €78,153 (+22.5%), from €348,007 to €426,160
mainly Stocks and contracts (+€487,399) and Net result for the year (+€295,372)
- Debts after one year -€506,704
down €506,704 (-17.7%), from €2.9m to €2.4m
- Profit (loss) carried forward +€286,797
up €286,797 (+18.9%), from €1.5m to €1.8m
- Financial income -€431,242
down €431,242 (-71.8%), from €600,570 to €169,328
of which Non-recurring financial income: -€464,437
- Staff costs -€131,994
down €131,994 (-10.5%), from €1.3m to €1.1m
- Gross operating margin -€69,124
down €69,124 (-4.1%), from €1.7m to €1.6m
- Taxes +€30,724
up €30,724 (+126.5%), from €24,288 to €55,012
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 | €6,991,664 | €6,721,667 | -€269,997 | -3.9% |
| Fixed assets | 21/28 | €1,792,930 | €1,677,705 | -€115,225 | -6.4% |
| Tangible fixed assets | 22/27 | €662,930 | €547,705 | -€115,225 | -17.4% |
| Plant, machinery and equipment | 23 | €417,264 | €352,847 | -€64,417 | -15.4% |
| Furniture and vehicles | 24 | €89,512 | €105,471 | +€15,958 | +17.8% |
| Other tangible fixed assets | 26 | €156,154 | €89,387 | -€66,767 | -42.8% |
| Financial fixed assets | 28 | €1,130,000 | €1,130,000 | = | 0.0% |
| Current assets | 29/58 | €5,198,734 | €5,043,962 | -€154,772 | -3.0% |
| Stocks and contracts in progress | 3 | €3,262,127 | €2,774,728 | -€487,399 | -14.9% |
| Stocks | 30/36 | €3,262,127 | €2,774,728 | -€487,399 | -14.9% |
| Amounts receivable within one year | 40/41 | €1,587,468 | €1,397,763 | -€189,705 | -12.0% |
| Trade receivables | 40 | €1,021,442 | €894,763 | -€126,679 | -12.4% |
| Other amounts receivable | 41 | €566,026 | €503,000 | -€63,026 | -11.1% |
| Current investments | 50/53 | - | €444,100 | +€444,100 | |
| Cash at bank and in hand | 54/58 | €348,007 | €426,160 | +€78,153 | +22.5% |
| Deferred charges and accrued income | 490/1 | €1,133 | €1,211 | +€78 | +6.9% |
| Total equity and liabilities | 10/49 | €6,991,664 | €6,721,667 | -€269,997 | -3.9% |
| Equity | 10/15 | €3,011,768 | €3,307,139 | +€295,372 | +9.8% |
| Contributions | 10/11 | €1,035,000 | €1,035,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Outside capital | 11 | €35,000 | €35,000 | = | 0.0% |
| Other | 1109/19 | €35,000 | €35,000 | = | 0.0% |
| Revaluation surpluses | 12 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €161,935 | €170,510 | +€8,575 | +5.3% |
| Non-distributable reserves | 130/1 | €91,425 | €100,000 | +€8,575 | +9.4% |
| Legal reserve | 130 | €91,425 | €100,000 | +€8,575 | +9.4% |
| Tax-exempt reserves | 132 | €70,510 | €70,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,514,832 | €1,801,629 | +€286,797 | +18.9% |
| Amounts payable | 17/49 | €3,979,896 | €3,414,527 | -€565,369 | -14.2% |
| Amounts payable after more than one year | 17 | €2,869,577 | €2,362,874 | -€506,704 | -17.7% |
| Financial debts | 170/4 | €2,869,577 | €2,362,874 | -€506,704 | -17.7% |
| Amounts payable within one year | 42/48 | €991,367 | €896,083 | -€95,283 | -9.6% |
| Current portion of amounts payable after more than one year | 42 | €402,128 | €387,626 | -€14,502 | -3.6% |
| Financial debts | 43 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Credit institutions | 430/8 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Trade debts | 44 | €334,379 | €315,295 | -€19,083 | -5.7% |
| Suppliers | 440/4 | €334,379 | €315,295 | -€19,083 | -5.7% |
| Taxes, remuneration and social security | 45 | €104,860 | €93,162 | -€11,699 | -11.2% |
| Taxes | 450/3 | €80,045 | €80,217 | +€173 | +0.2% |
| Remuneration and social security | 454/9 | €24,816 | €12,944 | -€11,871 | -47.8% |
| Accrued charges and deferred income | 492/3 | €118,952 | €155,571 | +€36,618 | +30.8% |
| Remuneration, social security and pensions | 62 | €1,255,600 | €1,123,606 | -€131,994 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €270,773 | €261,105 | -€9,668 | -3.6% |
| Other operating charges | 640/8 | - | €757 | +€757 | |
| Non-recurring operating charges | 66A | €43,201 | - | -€43,201 | |
| Gross operating margin | 9900 | €1,685,641 | €1,616,517 | -€69,124 | -4.1% |
| Operating profit (loss) | 9901 | €116,067 | €231,049 | +€114,982 | +99.1% |
| Financial income | 75/76B | €600,570 | €169,328 | -€431,242 | -71.8% |
| Recurring financial income | 75 | €135,131 | €168,326 | +€33,195 | +24.6% |
| Non-recurring financial income | 76B | €465,438 | €1,002 | -€464,437 | -99.8% |
| Financial charges | 65/66B | €52,620 | €49,994 | -€2,626 | -5.0% |
| Recurring financial charges | 65 | €52,620 | €49,994 | -€2,626 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €664,017 | €350,383 | -€313,633 | -47.2% |
| Income taxes | 67/77 | €24,288 | €55,012 | +€30,724 | +126.5% |
| Profit (loss) for the period | 9904 | €639,729 | €295,372 | -€344,357 | -53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €639,729 | €295,372 | -€344,357 | -53.8% |
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.