TIST: 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.
TIST
Largest movements
- Tangible fixed assets +€975,674
up €975,674 (+475%), from €205,366 to €1.2m
of which Assets under construction and advance payments: +€631,923
- Receivables within one year +€133,660
up €133,660 (+2,227%), from €6,001 to €139,661
of which Other amounts receivable: +€127,660
- Debts after one year +€1.0m
up €1.0m (+732%), from €141,862 to €1.2m
- Trade debts +€120,338
up €120,338 (+1,377%), from €8,741 to €129,079
- Profit (loss) carried forward -€46,495
down €46,495 (-567%), from -€8,200 to -€54,695
- Depreciation +€44,053
up €44,053 (+243%), from €18,100 to €62,152
- Gross operating margin -€5,062
down €5,062 (-18.9%), from €26,790 to €21,728
- Financial charges -€317
down €317 (-9.3%), from €3,426 to €3,108
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 | €220,624 | €1,332,932 | +€1.1m | +504% |
| Fixed assets | 21/28 | €206,332 | €1,182,006 | +€975,674 | +473% |
| Tangible fixed assets | 22/27 | €205,366 | €1,181,040 | +€975,674 | +475% |
| Land and buildings | 22 | €205,002 | €549,035 | +€344,033 | +168% |
| Plant, machinery and equipment | 23 | €363 | €81 | -€282 | -77.7% |
| Assets under construction and advance payments | 27 | - | €631,923 | +€631,923 | |
| Financial fixed assets | 28 | €967 | €967 | = | 0.0% |
| Current assets | 29/58 | €14,292 | €150,925 | +€136,634 | +956% |
| Amounts receivable within one year | 40/41 | €6,001 | €139,661 | +€133,660 | +2,227% |
| Trade receivables | 40 | €6,000 | €12,000 | +€6,000 | +100% |
| Other amounts receivable | 41 | €1 | €127,661 | +€127,660 | +15,197,642% |
| Cash at bank and in hand | 54/58 | €8,291 | €3,710 | -€4,581 | -55.3% |
| Deferred charges and accrued income | 490/1 | - | €7,555 | +€7,555 | |
| Total equity and liabilities | 10/49 | €220,624 | €1,332,932 | +€1.1m | +504% |
| Equity | 10/15 | €51,800 | €5,305 | -€46,495 | -89.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,200 | -€54,695 | -€46,495 | -567% |
| Amounts payable | 17/49 | €168,824 | €1,327,627 | +€1.2m | +686% |
| Amounts payable after more than one year | 17 | €141,862 | €1,179,984 | +€1.0m | +732% |
| Financial debts | 170/4 | €141,862 | €1,179,984 | +€1.0m | +732% |
| Amounts payable within one year | 42/48 | €26,962 | €147,643 | +€120,680 | +448% |
| Current portion of amounts payable after more than one year | 42 | €18,222 | €18,564 | +€343 | +1.9% |
| Trade debts | 44 | €8,741 | €129,079 | +€120,338 | +1,377% |
| Suppliers | 440/4 | €8,741 | €129,079 | +€120,338 | +1,377% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,100 | €62,152 | +€44,053 | +243% |
| Other operating charges | 640/8 | €2,872 | €2,962 | +€91 | +3.2% |
| Gross operating margin | 9900 | €26,790 | €21,728 | -€5,062 | -18.9% |
| Operating profit (loss) | 9901 | €5,819 | -€43,387 | -€49,206 | |
| Financial charges | 65/66B | €3,426 | €3,108 | -€317 | -9.3% |
| Recurring financial charges | 65 | €3,426 | €3,108 | -€317 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €2,393 | -€46,495 | -€48,888 | |
| Profit (loss) for the period | 9904 | €2,393 | -€46,495 | -€48,888 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,393 | -€46,495 | -€48,888 |
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 29 October 2026 via checked.be.