TBSO: €1.5M Loss in 2025, but €2.3M in Secured Revenues for 2026
TBSO, formerly Tayninh Company, taken over in November 2025 by a consortium led by Eric Larchevêque, Nathan B. Pissaro, and Tony Parker, publishes its 2025 results marked by a transition phase. The company reports a turnover of €0.1M and a net loss of €1.5M, in a fiscal year affected by takeover costs, structuring, and the launch of new activities. Concurrently, SKL CLUB™, launched in December 2025, recorded 719 active members and generated €2.4M in billed revenues, with nearly €2.3M to be recognized in turnover in 2026.
Financial Performance in 2025
As of December 31, 2025, TBSO records a net turnover of €114,326, total operating income of €114,333, and an operating result of -€1.87M. The net result stands at -€1.49M. According to the company, this fiscal year should be viewed as a transitional year, marked by the change of control in November 2025, the effective start of new activities, and costs related to the structuring of the new scope. TBSO estimates the charges related to the takeover operation and the organization of the company at about €1M. Additionally, investments made for the launch of new activities total. Overall, operating expenses reached €1.99M. The group specifies that these charges, presented as non-recurring, were used to establish the foundations of the new business model.
Launch of SKL CLUB™
In December 2025, TBSO launched SKL CLUB™, its first operational activity, presented as a support ecosystem for entrepreneurs. The offer combines educational content, workshops led by experts, a professional community, physical and digital events, and specialized resources. Its economic model is based on a subscription. As of December 31, 2025, after just a few weeks of activity, SKL CLUB™ had 719 active members. The company reports having billed €2.4M in revenues, of which nearly €2.3M corresponds to services to be delivered in 2026 and already recorded as deferred income. Concurrently, the Fracture podcast, hosted by Eric Larchevêque, Nathan B. Pissaro, and Tony Parker, contributes, according to the statement, to enhancing the visibility and attractiveness of the ecosystem.
Financial Outlook for 2026
As of December 31, 2025, TBSO has a cash reserve of €1.8M and €2.3M in deferred income. The company emphasizes that these deferred revenues, intended to be recognized as turnover in 2026, provide good visibility for the upcoming fiscal year. For 2026, TBSO indicates its intention to accelerate the commercial development of SKL CLUB™, consider integrating NVST CLUB™ into the group, currently owned by the founding shareholders, and deploy new offers within its ecosystem. The group also notes, as a secondary consideration, the opportunity to allocate a portion of its cash surplus in Bitcoin as part of active and diversified management. At this stage, the company reports holding no Bitcoin.
