TICO: 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.
TICO
Largest movements
- Tangible fixed assets +€75,810
up €75,810 (+568.4%), from €13,337 to €89,147
of which Other tangible fixed assets: +€55,551
- Cash -€15,533
down €15,533 (-49.3%), from €31,511 to €15,978
mainly Investment in fixed assets (net) (-€87,938) and Trade debts (-€1,270)
- Receivables within one year -€11,985
down €11,985 (-98.2%), from €12,202 to €217
of which Trade receivables: -€11,983
- Debts after one year +€17,350
new in 2026: €17,350
- Other debts +€13,273
up €13,273 (+19851.9%), from €67 to €13,340
- Profit (loss) carried forward +€10,122
up €10,122 (+23.9%), from -€42,321 to -€32,199
- Current portion of long-term debt +€7,316
new in 2026: €7,316
- Tax, wage and social debts +€1,447
up €1,447 (+73.7%), from €1,964 to €3,411
- Depreciation +€9,193
up €9,193 (+313.1%), from €2,936 to €12,129
- Gross operating margin +€2,946
up €2,946 (+13.2%), from €22,353 to €25,299
- Financial charges +€1,331
up €1,331 (+281.1%), from €474 to €1,805
- Other operating charges +€654
up €654 (+107.5%), from €608 to €1,262
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,174 | €107,217 | +€48,043 | +81.2% |
| Fixed assets | 21/28 | €13,337 | €89,147 | +€75,810 | +568.4% |
| Tangible fixed assets | 22/27 | €13,337 | €89,147 | +€75,810 | +568.4% |
| Land and buildings | 22 | €0 | €22,472 | +€22,472 | |
| Plant, machinery and equipment | 23 | €1,033 | €633 | -€400 | -38.7% |
| Furniture and vehicles | 24 | €4,928 | €3,115 | -€1,813 | -36.8% |
| Other tangible fixed assets | 26 | €7,376 | €62,927 | +€55,551 | +753.2% |
| Current assets | 29/58 | €45,836 | €18,070 | -€27,767 | -60.6% |
| Amounts receivable within one year | 40/41 | €12,202 | €217 | -€11,985 | -98.2% |
| Trade receivables | 40 | €12,200 | €217 | -€11,983 | -98.2% |
| Other amounts receivable | 41 | €2 | €0 | -€2 | -100.0% |
| Cash at bank and in hand | 54/58 | €31,511 | €15,978 | -€15,533 | -49.3% |
| Deferred charges and accrued income | 490/1 | €2,124 | €1,876 | -€248 | -11.7% |
| Total equity and liabilities | 10/49 | €59,174 | €107,217 | +€48,043 | +81.2% |
| Equity | 10/15 | €53,294 | €63,416 | +€10,122 | +19.0% |
| Contributions | 10/11 | €91,300 | €91,300 | = | 0.0% |
| Reserves | 13 | €4,315 | €4,315 | = | 0.0% |
| Distributable reserves | 133 | €4,315 | €4,315 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,321 | -€32,199 | +€10,122 | +23.9% |
| Amounts payable | 17/49 | €5,879 | €43,800 | +€37,921 | +645.0% |
| Amounts payable after more than one year | 17 | - | €17,350 | +€17,350 | |
| Financial debts | 170/4 | - | €17,350 | +€17,350 | |
| Amounts payable within one year | 42/48 | €5,804 | €26,375 | +€20,571 | +354.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,316 | +€7,316 | |
| Financial debts | 43 | €249 | €54 | -€196 | -78.4% |
| Credit institutions | 430/8 | €249 | €54 | -€196 | -78.4% |
| Trade debts | 44 | €3,524 | €2,254 | -€1,270 | -36.0% |
| Suppliers | 440/4 | €3,524 | €2,254 | -€1,270 | -36.0% |
| Taxes, remuneration and social security | 45 | €1,964 | €3,411 | +€1,447 | +73.7% |
| Taxes | 450/3 | €1,964 | €3,411 | +€1,447 | +73.7% |
| Other amounts payable | 47/48 | €67 | €13,340 | +€13,273 | +19851.9% |
| Accrued charges and deferred income | 492/3 | €75 | €75 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,936 | €12,129 | +€9,193 | +313.1% |
| Other operating charges | 640/8 | €608 | €1,262 | +€654 | +107.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €22,353 | €25,299 | +€2,946 | +13.2% |
| Operating profit (loss) | 9901 | €18,810 | €11,909 | -€6,900 | -36.7% |
| Financial income | 75/76B | €123 | €226 | +€103 | +83.3% |
| Recurring financial income | 75 | €123 | €226 | +€103 | +83.3% |
| Financial charges | 65/66B | €474 | €1,805 | +€1,331 | +281.1% |
| Recurring financial charges | 65 | €474 | €1,805 | +€1,331 | +281.1% |
| Profit (loss) for the period before taxes | 9903 | €18,459 | €10,330 | -€8,129 | -44.0% |
| Income taxes | 67/77 | €194 | €209 | +€15 | +7.7% |
| Profit (loss) for the period | 9904 | €18,266 | €10,122 | -€8,144 | -44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,266 | €10,122 | -€8,144 | -44.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.