TSITL: 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.
TSITL
Largest movements
- Tangible fixed assets -€70,384
down €70,384 (-9.2%), from €769,089 to €698,704
of which Land and buildings: -€47,372
- Cash -€13,798
down €13,798 (-25.1%), from €54,990 to €41,192
mainly Debts after one year (-€56,526) and Net result for the year (-€31,509)
- Debts after one year -€56,526
down €56,526 (-7.0%), from €806,962 to €750,437
of which Financial debts: -€56,526
- Profit (loss) carried forward -€31,509
down €31,509 (-94.0%), from -€33,533 to -€65,041
- Gross operating margin -€4,174
down €4,174 (-5.9%), from €71,342 to €67,168
- Financial charges -€2,396
down €2,396 (-8.7%), from €27,632 to €25,236
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 | €845,315 | €753,993 | -€91,322 | -10.8% |
| Fixed assets | 21/28 | €769,630 | €699,248 | -€70,382 | -9.1% |
| Tangible fixed assets | 22/27 | €769,089 | €698,704 | -€70,384 | -9.2% |
| Land and buildings | 22 | €660,123 | €612,751 | -€47,372 | -7.2% |
| Plant, machinery and equipment | 23 | €108,966 | €85,954 | -€23,012 | -21.1% |
| Financial fixed assets | 28 | €542 | €544 | +€2 | +0.4% |
| Current assets | 29/58 | €75,684 | €54,745 | -€20,940 | -27.7% |
| Stocks and contracts in progress | 3 | €2,124 | €2,034 | -€91 | -4.3% |
| Stocks | 30/36 | €2,124 | €2,034 | -€91 | -4.3% |
| Amounts receivable within one year | 40/41 | €17,883 | €10,471 | -€7,412 | -41.4% |
| Trade receivables | 40 | €17,883 | €9,620 | -€8,263 | -46.2% |
| Other amounts receivable | 41 | €0 | €851 | +€851 | |
| Cash at bank and in hand | 54/58 | €54,990 | €41,192 | -€13,798 | -25.1% |
| Deferred charges and accrued income | 490/1 | €687 | €1,049 | +€361 | +52.6% |
| Total equity and liabilities | 10/49 | €845,315 | €753,993 | -€91,322 | -10.8% |
| Equity | 10/15 | -€25,473 | -€56,981 | -€31,509 | -124% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,533 | -€65,041 | -€31,509 | -94.0% |
| Amounts payable | 17/49 | €870,787 | €810,974 | -€59,813 | -6.9% |
| Amounts payable after more than one year | 17 | €806,962 | €750,437 | -€56,526 | -7.0% |
| Financial debts | 170/4 | €806,912 | €750,387 | -€56,526 | -7.0% |
| Other amounts payable | 178/9 | €50 | €50 | = | 0.0% |
| Amounts payable within one year | 42/48 | €63,825 | €60,538 | -€3,287 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €54,009 | €56,526 | +€2,516 | +4.7% |
| Trade debts | 44 | €8,043 | €4,012 | -€4,031 | -50.1% |
| Suppliers | 440/4 | €8,043 | €4,012 | -€4,031 | -50.1% |
| Taxes, remuneration and social security | 45 | €1,772 | €0 | -€1,772 | -100% |
| Taxes | 450/3 | €1,772 | €0 | -€1,772 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,310 | €70,384 | +€74 | +0.1% |
| Other operating charges | 640/8 | €3,017 | €3,105 | +€88 | +2.9% |
| Gross operating margin | 9900 | €71,342 | €67,168 | -€4,174 | -5.9% |
| Operating profit (loss) | 9901 | -€1,985 | -€6,321 | -€4,336 | -218% |
| Financial income | 75/76B | €0 | €48 | +€48 | +477,600% |
| Recurring financial income | 75 | €0 | €48 | +€48 | +477,600% |
| Financial charges | 65/66B | €27,632 | €25,236 | -€2,396 | -8.7% |
| Recurring financial charges | 65 | €27,632 | €25,236 | -€2,396 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | -€29,617 | -€31,509 | -€1,892 | -6.4% |
| Profit (loss) for the period | 9904 | -€29,617 | -€31,509 | -€1,892 | -6.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,617 | -€31,509 | -€1,892 | -6.4% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.