TISMAN CONSTRUCT: 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.
TISMAN CONSTRUCT
Largest movements
- Tangible fixed assets +€23,398
up €23,398 (+788.7%), from €2,967 to €26,365
- Receivables within one year -€17,283
down €17,283 (-35.7%), from €48,441 to €31,158
of which Trade receivables: -€17,041
- Cash -€2,201
down €2,201 (-41.6%), from €5,294 to €3,093
mainly Investment in fixed assets (net) (-€30,093) and Other debts (-€23,689)
- Deferred charges and accrued income +€1,376
new in 2025: €1,376
- Other debts -€23,689
down €23,689 (-74.8%), from €31,663 to €7,974
- Debts after one year +€15,956
new in 2025: €15,956
- Tax, wage and social debts +€7,135
new in 2025: €7,135
of which Remuneration and social security: +€3,700
- Trade debts +€5,176
new in 2025: €5,176
- Current portion of long-term debt +€3,950
new in 2025: €3,950
- Write-downs +€48,610
new in 2025: €48,610
- Gross operating margin +€29,428
up €29,428 (+79.5%), from €37,037 to €66,466
- Taxes +€10,631
new in 2025: €10,631
- Depreciation +€4,629
up €4,629 (+224.0%), from €2,067 to €6,695
- Other operating charges +€1,573
up €1,573 (+113.2%), from €1,390 to €2,962
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 | €56,702 | €61,992 | +€5,290 | +9.3% |
| Fixed assets | 21/28 | €2,967 | €26,365 | +€23,398 | +788.7% |
| Tangible fixed assets | 22/27 | €2,967 | €26,365 | +€23,398 | +788.7% |
| Furniture and vehicles | 24 | €2,967 | €26,365 | +€23,398 | +788.7% |
| Current assets | 29/58 | €53,735 | €35,627 | -€18,108 | -33.7% |
| Amounts receivable within one year | 40/41 | €48,441 | €31,158 | -€17,283 | -35.7% |
| Trade receivables | 40 | €24,687 | €7,645 | -€17,041 | -69.0% |
| Other amounts receivable | 41 | €23,754 | €23,512 | -€242 | -1.0% |
| Cash at bank and in hand | 54/58 | €5,294 | €3,093 | -€2,201 | -41.6% |
| Deferred charges and accrued income | 490/1 | - | €1,376 | +€1,376 | |
| Total equity and liabilities | 10/49 | €56,702 | €61,992 | +€5,290 | +9.3% |
| Equity | 10/15 | €25,039 | €21,800 | -€3,239 | -12.9% |
| Contributions | 10/11 | €1,150 | €1,150 | = | 0.0% |
| Outside capital | 11 | - | €1,150 | +€1,150 | |
| Other | 1109/19 | - | €1,150 | +€1,150 | |
| Reserves | 13 | €115 | €115 | = | 0.0% |
| Non-distributable reserves | 130/1 | €115 | €115 | = | 0.0% |
| Reserves not available under the articles | 1311 | €115 | €115 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,774 | €20,535 | -€3,239 | -13.6% |
| Amounts payable | 17/49 | €31,663 | €40,192 | +€8,529 | +26.9% |
| Amounts payable after more than one year | 17 | - | €15,956 | +€15,956 | |
| Financial debts | 170/4 | - | €15,956 | +€15,956 | |
| Amounts payable within one year | 42/48 | €31,663 | €24,236 | -€7,427 | -23.5% |
| Current portion of amounts payable after more than one year | 42 | - | €3,950 | +€3,950 | |
| Trade debts | 44 | - | €5,176 | +€5,176 | |
| Suppliers | 440/4 | - | €5,176 | +€5,176 | |
| Taxes, remuneration and social security | 45 | - | €7,135 | +€7,135 | |
| Taxes | 450/3 | - | €3,435 | +€3,435 | |
| Remuneration and social security | 454/9 | - | €3,700 | +€3,700 | |
| Other amounts payable | 47/48 | €31,663 | €7,974 | -€23,689 | -74.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,067 | €6,695 | +€4,629 | +224.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €48,610 | +€48,610 | |
| Other operating charges | 640/8 | €1,390 | €2,962 | +€1,573 | +113.2% |
| Gross operating margin | 9900 | €37,037 | €66,466 | +€29,428 | +79.5% |
| Operating profit (loss) | 9901 | €33,581 | €8,198 | -€25,383 | -75.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €338 | €806 | +€468 | +138.6% |
| Recurring financial charges | 65 | €338 | €806 | +€468 | +138.6% |
| Profit (loss) for the period before taxes | 9903 | €33,243 | €7,393 | -€25,850 | -77.8% |
| Income taxes | 67/77 | - | €10,631 | +€10,631 | |
| Profit (loss) for the period | 9904 | €33,243 | -€3,239 | -€36,482 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,243 | -€3,239 | -€36,482 |
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 7 October 2026 via checked.be.