TISECO: 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
TISECO
NACE 46.412, Wholesale of household textiles and bedding
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€266,130
2023 · €292,543-€26,414
Equity
€3.4m
2023 · €3.2m+€266,130
Cash
€1.1m
2023 · €597,577+€524,711
Balance sheet total
€7.5m
2023 · €6.8m+€696,182
Largest movements
Assets
- Stocks and contracts +€537,255
up €537,255 (+14.0%), from €3.8m to €4.4m
- Cash +€524,711
up €524,711 (+87.8%), from €597,577 to €1.1m
mainly Advances received (+€843,110) and Receivables within one year (+€300,802)
- Receivables within one year -€300,802
down €300,802 (-25.0%), from €1.2m to €904,184
of which Trade receivables: -€310,135
- Intangible fixed assets -€92,802
down €92,802 (-36.9%), from €251,215 to €158,412
Equity and liabilities
- Advances received +€843,110
new in 2024: €843,110
- Short-term financial debts -€519,526
down €519,526 (-45.4%), from €1.1m to €624,954
- Reserves +€266,130
up €266,130 (+8.7%), from €3.1m to €3.3m
of which Distributable reserves: +€266,130
- Other debts +€121,522
up €121,522 (+17.1%), from €710,306 to €831,828
Income statement
- Gross operating margin +€733,317
up €733,317 (+58.4%), from €1.3m to €2.0m
- Write-downs +€611,842
up €611,842, from -€178,616 to €433,227
- Staff costs +€51,136
up €51,136 (+6.4%), from €802,017 to €853,153
- Taxes +€42,876
up €42,876 (+2230.2%), from €1,923 to €44,798
From the 2023 result to the 2024 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 2023
€292,543
Gross operating margin
+€733,317
Staff costs
-€51,136
Depreciation
-€7,155
Write-downs
-€611,842
Other operating charges
-€10,633
Other operating items
-€907
Financial income
-€17,845
Financial charges
-€17,336
Taxes
-€42,876
Result 2024
€266,130
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.3m
Investment
-€130,674
Financing
-€606,263
Cash 2023
€597,577
From operations (derived)
+€1.3m
Net result for the year
+€266,130
Depreciation
+€190,074
Receivables after one year
-€854
Stocks and contracts
-€537,255
Receivables within one year
+€300,802
Deferred charges and accrued income
+€6,438
Trade debts
+€29,940
Tax, wage and social debts
+€29,084
Advances received
+€843,110
Other debts
+€121,522
Accrued charges and deferred income
+€12,659
Investment (derived)
-€130,674
Investment in fixed assets (net)
-€130,674
Financing
-€606,263
Debts after one year
-€65,954
Current portion of long-term debt
-€20,783
Short-term financial debts
-€519,526
Cash 2024
€1.1m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,833,472 | €7,529,654 | +€696,182 | +10.2% |
| Fixed assets | 21/28 | €467,582 | €408,183 | -€59,399 | -12.7% |
| Intangible fixed assets | 21 | €251,215 | €158,412 | -€92,802 | -36.9% |
| Tangible fixed assets | 22/27 | €153,725 | €187,128 | +€33,403 | +21.7% |
| Land and buildings | 22 | €68,876 | €119,867 | +€50,991 | +74.0% |
| Plant, machinery and equipment | 23 | €15,939 | €22,353 | +€6,414 | +40.2% |
| Furniture and vehicles | 24 | €49,298 | €33,273 | -€16,025 | -32.5% |
| Other tangible fixed assets | 26 | €19,613 | €11,635 | -€7,978 | -40.7% |
| Financial fixed assets | 28 | €62,642 | €62,642 | = | 0.0% |
| Current assets | 29/58 | €6,365,890 | €7,121,471 | +€755,581 | +11.9% |
| Amounts receivable after more than one year | 29 | €616,559 | €617,414 | +€854 | +0.1% |
| Other amounts receivable | 291 | €616,559 | €617,414 | +€854 | +0.1% |
| Stocks and contracts in progress | 3 | €3,843,688 | €4,380,943 | +€537,255 | +14.0% |
| Stocks | 30/36 | €3,843,688 | €4,380,943 | +€537,255 | +14.0% |
| Amounts receivable within one year | 40/41 | €1,204,986 | €904,184 | -€300,802 | -25.0% |
| Trade receivables | 40 | €1,129,987 | €819,852 | -€310,135 | -27.4% |
| Other amounts receivable | 41 | €75,000 | €84,332 | +€9,332 | +12.4% |
| Cash at bank and in hand | 54/58 | €597,577 | €1,122,289 | +€524,711 | +87.8% |
| Deferred charges and accrued income | 490/1 | €103,079 | €96,641 | -€6,438 | -6.2% |
| Total equity and liabilities | 10/49 | €6,833,472 | €7,529,654 | +€696,182 | +10.2% |
| Equity | 10/15 | €3,150,335 | €3,416,465 | +€266,130 | +8.4% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €3,075,967 | €3,342,097 | +€266,130 | +8.7% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €3,068,530 | €3,334,660 | +€266,130 | +8.7% |
| Amounts payable | 17/49 | €3,683,137 | €4,113,189 | +€430,052 | +11.7% |
| Amounts payable after more than one year | 17 | €114,565 | €48,611 | -€65,954 | -57.6% |
| Financial debts | 170/4 | €114,565 | €48,611 | -€65,954 | -57.6% |
| Amounts payable within one year | 42/48 | €3,522,232 | €4,005,579 | +€483,347 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €86,737 | €65,954 | -€20,783 | -24.0% |
| Financial debts | 43 | €1,144,480 | €624,954 | -€519,526 | -45.4% |
| Credit institutions | 430/8 | €1,144,480 | €624,954 | -€519,526 | -45.4% |
| Trade debts | 44 | €1,492,834 | €1,522,774 | +€29,940 | +2.0% |
| Suppliers | 440/4 | €1,492,834 | €1,522,774 | +€29,940 | +2.0% |
| Advances received on contracts in progress | 46 | - | €843,110 | +€843,110 | |
| Taxes, remuneration and social security | 45 | €87,876 | €116,960 | +€29,084 | +33.1% |
| Taxes | 450/3 | €14,372 | €39,090 | +€24,718 | +172.0% |
| Remuneration and social security | 454/9 | €73,504 | €77,870 | +€4,366 | +5.9% |
| Other amounts payable | 47/48 | €710,306 | €831,828 | +€121,522 | +17.1% |
| Accrued charges and deferred income | 492/3 | €46,340 | €58,999 | +€12,659 | +27.3% |
| Remuneration, social security and pensions | 62 | €802,017 | €853,153 | +€51,136 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,918 | €190,074 | +€7,155 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€178,616 | €433,227 | +€611,842 | |
| Other operating charges | 640/8 | €21,228 | €31,861 | +€10,633 | +50.1% |
| Non-recurring operating charges | 66A | - | €907 | +€907 | |
| Gross operating margin | 9900 | €1,254,730 | €1,988,046 | +€733,317 | +58.4% |
| Operating profit (loss) | 9901 | €427,183 | €478,825 | +€51,643 | +12.1% |
| Financial income | 75/76B | €62,541 | €44,697 | -€17,845 | -28.5% |
| Recurring financial income | 75 | €61,903 | €43,759 | -€18,144 | -29.3% |
| Non-recurring financial income | 76B | €638 | €937 | +€299 | +46.9% |
| Financial charges | 65/66B | €195,258 | €212,594 | +€17,336 | +8.9% |
| Recurring financial charges | 65 | €195,258 | €212,594 | +€17,336 | +8.9% |
| Profit (loss) for the period before taxes | 9903 | €294,466 | €310,928 | +€16,462 | +5.6% |
| Income taxes | 67/77 | €1,923 | €44,798 | +€42,876 | +2230.2% |
| Profit (loss) for the period | 9904 | €292,543 | €266,130 | -€26,414 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €292,543 | €266,130 | -€26,414 | -9.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.