TSIOLLE: 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.
TSIOLLE
Largest movements
- Tangible fixed assets -€12,495
down €12,495 (-11.0%), from €113,904 to €101,409
of which Plant, machinery and equipment: -€13,639
- Cash -€4,478
down €4,478 (-10.3%), from €43,477 to €38,999
mainly Tax, wage and social debts (-€13,902) and Debts after one year (-€13,712)
- Reserves +€21,037
up €21,037 (+32.1%), from €65,449 to €86,486
- Tax, wage and social debts -€13,902
down €13,902 (-70.2%), from €19,806 to €5,904
of which Remuneration and social security: -€7,041
- Debts after one year -€13,712
down €13,712 (-19.2%), from €71,470 to €57,758
- Trade debts -€9,039
down €9,039 (-36.2%), from €24,953 to €15,915
- Short-term financial debts -€2,779
no longer reported in 2025 (was €2,779)
- Gross operating margin -€43,184
down €43,184 (-44.5%), from €97,023 to €53,840
- Staff costs -€21,306
down €21,306 (-90.1%), from €23,651 to €2,345
- Taxes -€6,712
down €6,712 (-38.1%), from €17,616 to €10,904
- Financial charges -€3,494
down €3,494 (-42.2%), from €8,274 to €4,780
- Financial income -€1,914
no longer reported in 2025 (was €1,914)
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 | €211,213 | €193,087 | -€18,126 | -8.6% |
| Fixed assets | 21/28 | €113,904 | €101,409 | -€12,495 | -11.0% |
| Tangible fixed assets | 22/27 | €113,904 | €101,409 | -€12,495 | -11.0% |
| Plant, machinery and equipment | 23 | €113,904 | €100,265 | -€13,639 | -12.0% |
| Furniture and vehicles | 24 | - | €1,144 | +€1,144 | |
| Current assets | 29/58 | €97,309 | €91,678 | -€5,631 | -5.8% |
| Stocks and contracts in progress | 3 | €4,932 | €3,661 | -€1,270 | -25.8% |
| Stocks | 30/36 | €4,932 | €3,661 | -€1,270 | -25.8% |
| Amounts receivable within one year | 40/41 | €46,801 | €47,075 | +€274 | +0.6% |
| Trade receivables | 40 | €38,347 | €34,288 | -€4,059 | -10.6% |
| Other amounts receivable | 41 | €8,454 | €12,787 | +€4,333 | +51.3% |
| Cash at bank and in hand | 54/58 | €43,477 | €38,999 | -€4,478 | -10.3% |
| Deferred charges and accrued income | 490/1 | €2,099 | €1,942 | -€156 | -7.4% |
| Total equity and liabilities | 10/49 | €211,213 | €193,087 | -€18,126 | -8.6% |
| Equity | 10/15 | €77,649 | €98,686 | +€21,037 | +27.1% |
| Contributions | 10/11 | €12,200 | €12,200 | = | 0.0% |
| Reserves | 13 | €65,449 | €86,486 | +€21,037 | +32.1% |
| Distributable reserves | 133 | €65,449 | €86,486 | +€21,037 | +32.1% |
| Amounts payable | 17/49 | €133,564 | €94,401 | -€39,163 | -29.3% |
| Amounts payable after more than one year | 17 | €71,470 | €57,758 | -€13,712 | -19.2% |
| Financial debts | 170/4 | €71,470 | €57,758 | -€13,712 | -19.2% |
| Amounts payable within one year | 42/48 | €61,662 | €36,643 | -€25,019 | -40.6% |
| Current portion of amounts payable after more than one year | 42 | €14,125 | €14,825 | +€700 | +5.0% |
| Financial debts | 43 | €2,779 | - | -€2,779 | |
| Credit institutions | 430/8 | €2,779 | - | -€2,779 | |
| Trade debts | 44 | €24,953 | €15,915 | -€9,039 | -36.2% |
| Suppliers | 440/4 | €24,953 | €15,915 | -€9,039 | -36.2% |
| Taxes, remuneration and social security | 45 | €19,806 | €5,904 | -€13,902 | -70.2% |
| Taxes | 450/3 | €12,765 | €5,904 | -€6,862 | -53.8% |
| Remuneration and social security | 454/9 | €7,041 | - | -€7,041 | |
| Accrued charges and deferred income | 492/3 | €432 | - | -€432 | |
| Remuneration, social security and pensions | 62 | €23,651 | €2,345 | -€21,306 | -90.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,475 | €13,693 | +€218 | +1.6% |
| Other operating charges | 640/8 | €2,180 | €1,081 | -€1,098 | -50.4% |
| Gross operating margin | 9900 | €97,023 | €53,840 | -€43,184 | -44.5% |
| Operating profit (loss) | 9901 | €57,718 | €36,720 | -€20,998 | -36.4% |
| Financial income | 75/76B | €1,914 | - | -€1,914 | |
| Recurring financial income | 75 | €1,914 | - | -€1,914 | |
| Financial charges | 65/66B | €8,274 | €4,780 | -€3,494 | -42.2% |
| Recurring financial charges | 65 | €8,274 | €4,780 | -€3,494 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | €51,358 | €31,940 | -€19,418 | -37.8% |
| Income taxes | 67/77 | €17,616 | €10,904 | -€6,712 | -38.1% |
| Profit (loss) for the period | 9904 | €33,742 | €21,037 | -€12,705 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €33,742 | €21,037 | -€12,705 | -37.7% |
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 10 October 2026 via checked.be.