TisiC: 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.
TisiC
Largest movements
- Receivables within one year -€31,758
down €31,758 (-20.5%), from €155,218 to €123,460
- Cash -€10,354
down €10,354 (-85.5%), from €12,116 to €1,762
mainly Net result for the year (-€25,438) and Investment in fixed assets (net) (-€18,283)
- Financial fixed assets +€9,200
new in 2025: €9,200
- Tangible fixed assets -€6,565
down €6,565 (-1.9%), from €343,964 to €337,399
of which Land and buildings: -€5,718
- Profit (loss) carried forward -€25,438
down €25,438 (-20.5%), from -€124,131 to -€149,569
- Debts after one year -€7,555
down €7,555 (-1.3%), from €594,874 to €587,319
of which Financial debts: -€7,555
- Trade debts -€5,933
down €5,933 (-95.6%), from €6,208 to €275
- Gross operating margin +€3,105
up €3,105 (+32.2%), from -€9,656 to -€6,551
- Depreciation +€556
up €556 (+3.7%), from €15,092 to €15,648
- Financial charges -€265
down €265 (-14.9%), from €1,783 to €1,518
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 | €512,166 | €472,877 | -€39,288 | -7.7% |
| Fixed assets | 21/28 | €343,964 | €346,599 | +€2,635 | +0.8% |
| Tangible fixed assets | 22/27 | €343,964 | €337,399 | -€6,565 | -1.9% |
| Land and buildings | 22 | €337,402 | €331,684 | -€5,718 | -1.7% |
| Plant, machinery and equipment | 23 | €6,563 | €5,715 | -€847 | -12.9% |
| Financial fixed assets | 28 | - | €9,200 | +€9,200 | |
| Current assets | 29/58 | €168,201 | €126,278 | -€41,923 | -24.9% |
| Stocks and contracts in progress | 3 | €58 | €252 | +€194 | +336.0% |
| Stocks | 30/36 | €58 | €252 | +€194 | +336.0% |
| Amounts receivable within one year | 40/41 | €155,218 | €123,460 | -€31,758 | -20.5% |
| Other amounts receivable | 41 | €155,218 | €123,460 | -€31,758 | -20.5% |
| Cash at bank and in hand | 54/58 | €12,116 | €1,762 | -€10,354 | -85.5% |
| Deferred charges and accrued income | 490/1 | €809 | €804 | -€5 | -0.6% |
| Total equity and liabilities | 10/49 | €512,166 | €472,877 | -€39,288 | -7.7% |
| Equity | 10/15 | -€96,863 | -€122,301 | -€25,438 | -26.3% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €2,479 | €2,479 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,479 | €2,479 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,479 | €2,479 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,131 | -€149,569 | -€25,438 | -20.5% |
| Amounts payable | 17/49 | €609,028 | €595,178 | -€13,851 | -2.3% |
| Amounts payable after more than one year | 17 | €594,874 | €587,319 | -€7,555 | -1.3% |
| Financial debts | 170/4 | €94,874 | €87,319 | -€7,555 | -8.0% |
| Other amounts payable | 178/9 | €500,000 | €500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,154 | €7,859 | -€6,296 | -44.5% |
| Current portion of amounts payable after more than one year | 42 | €7,463 | €7,555 | +€92 | +1.2% |
| Trade debts | 44 | €6,208 | €275 | -€5,933 | -95.6% |
| Suppliers | 440/4 | €6,208 | €275 | -€5,933 | -95.6% |
| Taxes, remuneration and social security | 45 | €483 | €29 | -€454 | -94.1% |
| Taxes | 450/3 | €483 | €29 | -€454 | -94.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,092 | €15,648 | +€556 | +3.7% |
| Other operating charges | 640/8 | €1,668 | €1,720 | +€52 | +3.1% |
| Gross operating margin | 9900 | -€9,656 | -€6,551 | +€3,105 | +32.2% |
| Operating profit (loss) | 9901 | -€26,416 | -€23,920 | +€2,497 | +9.5% |
| Financial charges | 65/66B | €1,783 | €1,518 | -€265 | -14.9% |
| Recurring financial charges | 65 | €1,783 | €1,518 | -€265 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | -€28,199 | -€25,438 | +€2,762 | +9.8% |
| Profit (loss) for the period | 9904 | -€28,199 | -€25,438 | +€2,762 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,199 | -€25,438 | +€2,762 | +9.8% |
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 2 October 2026 via checked.be.