TISCO: 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.
What changed
TISCO
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€46,852
2024 · €93,601-€46,749
Equity
€1.0m
2024 · €992,536+€46,852
Cash
€89,852
2024 · €89,929-€77
Balance sheet total
€1.0m
2024 · €1.0m+€15,465
Largest movements
Assets
- Receivables within one year +€26,869
up €26,869 (+361.7%), from €7,430 to €34,299
of which Other amounts receivable: +€16,727
Equity and liabilities
- Reserves +€46,852
up €46,852 (+8.3%), from €563,748 to €610,600
of which Distributable reserves: +€46,852
- Tax, wage and social debts -€33,968
no longer reported in 2025 (was €33,968)
Income statement
- Financial income -€59,559
down €59,559 (-79.4%), from €74,988 to €15,430
- Taxes -€12,708
down €12,708 (-36.4%), from €34,949 to €22,241
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.
Result 2024
€93,601
Other operating charges
-€1,647
Other operating items
+€1,792
Financial income
-€59,559
Financial charges
-€44
Taxes
+€12,708
Result 2025
€46,852
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.
From operations
-€77
Investment
-€0
Financing
€0
Cash 2024
€89,929
From operations (derived)
-€77
Net result for the year
+€46,852
Depreciation
+€7,850
Receivables within one year
-€26,869
Deferred charges and accrued income
+€3,478
Trade debts
+€3,555
Tax, wage and social debts
-€33,968
Accrued charges and deferred income
-€974
Investment (derived)
-€0
Investment in fixed assets (net)
-€0
Cash 2025
€89,852
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,028,586 | €1,044,051 | +€15,465 | +1.5% |
| Fixed assets | 21/28 | €211,254 | €203,404 | -€7,850 | -3.7% |
| Tangible fixed assets | 22/27 | €210,636 | €202,787 | -€7,850 | -3.7% |
| Land and buildings | 22 | €171,992 | €171,992 | = | 0.0% |
| Plant, machinery and equipment | 23 | €38,644 | €30,795 | -€7,850 | -20.3% |
| Financial fixed assets | 28 | €617 | €617 | = | 0.0% |
| Other financial fixed assets | 284/8 | €617 | €617 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €617 | €617 | = | 0.0% |
| Current assets | 29/58 | €817,332 | €840,647 | +€23,315 | +2.9% |
| Amounts receivable within one year | 40/41 | €7,430 | €34,299 | +€26,869 | +361.7% |
| Trade receivables | 40 | €7,430 | €17,572 | +€10,143 | +136.5% |
| Other amounts receivable | 41 | - | €16,727 | +€16,727 | |
| Current investments | 50/53 | €700,000 | €700,000 | = | 0.0% |
| Other investments | 51/53 | €700,000 | €700,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €89,929 | €89,852 | -€77 | -0.1% |
| Deferred charges and accrued income | 490/1 | €19,974 | €16,496 | -€3,478 | -17.4% |
| Total equity and liabilities | 10/49 | €1,028,586 | €1,044,051 | +€15,465 | +1.5% |
| Equity | 10/15 | €992,536 | €1,039,388 | +€46,852 | +4.7% |
| Contributions | 10/11 | €428,787 | €428,787 | = | 0.0% |
| Capital | 10 | €428,787 | €428,787 | = | 0.0% |
| Issued capital | 100 | €428,787 | €428,787 | = | 0.0% |
| Reserves | 13 | €563,748 | €610,600 | +€46,852 | +8.3% |
| Non-distributable reserves | 130/1 | €42,879 | €42,879 | = | 0.0% |
| Legal reserve | 130 | €42,879 | €42,879 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,624 | €70,624 | = | 0.0% |
| Distributable reserves | 133 | €450,245 | €497,097 | +€46,852 | +10.4% |
| Amounts payable | 17/49 | €36,050 | €4,663 | -€31,387 | -87.1% |
| Amounts payable within one year | 42/48 | €35,076 | €4,663 | -€30,413 | -86.7% |
| Trade debts | 44 | €1,108 | €4,663 | +€3,555 | +320.8% |
| Suppliers | 440/4 | €1,108 | €4,663 | +€3,555 | +320.8% |
| Taxes, remuneration and social security | 45 | €33,968 | - | -€33,968 | |
| Taxes | 450/3 | €33,968 | - | -€33,968 | |
| Accrued charges and deferred income | 492/3 | €974 | - | -€974 | |
| Operating income | 70/76A | €128,517 | €128,041 | -€476 | -0.4% |
| Other operating income | 74 | €128,517 | €128,041 | -€476 | -0.4% |
| Operating charges | 60/66A | €74,654 | €74,032 | -€621 | -0.8% |
| Services and other goods | 61 | €20,130 | €17,861 | -€2,268 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,850 | €7,850 | = | 0.0% |
| Other operating charges | 640/8 | €46,674 | €48,321 | +€1,647 | +3.5% |
| Operating profit (loss) | 9901 | €53,863 | €54,009 | +€145 | +0.3% |
| Financial income | 75/76B | €74,988 | €15,430 | -€59,559 | -79.4% |
| Recurring financial income | 75 | €74,988 | €15,430 | -€59,559 | -79.4% |
| Income from current assets | 751 | €74,988 | €15,430 | -€59,559 | -79.4% |
| Financial charges | 65/66B | €301 | €345 | +€44 | +14.5% |
| Recurring financial charges | 65 | €301 | €345 | +€44 | +14.5% |
| Debt charges | 650 | - | €21 | +€21 | |
| Other financial charges | 652/9 | €301 | €324 | +€23 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €128,550 | €69,093 | -€59,457 | -46.3% |
| Income taxes | 67/77 | €34,949 | €22,241 | -€12,708 | -36.4% |
| Taxes | 670/3 | €34,949 | €22,241 | -€12,708 | -36.4% |
| Profit (loss) for the period | 9904 | €93,601 | €46,852 | -€46,749 | -49.9% |
| Profit (loss) for the period to be appropriated | 9905 | €93,601 | €46,852 | -€46,749 | -49.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.