De Tichelaar: 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.
De Tichelaar
Largest movements
- Receivables within one year +€52,686
up €52,686 (+79.7%), from €66,133 to €118,820
of which Trade receivables: +€57,509
- Stocks and contracts -€13,167
down €13,167 (-5.4%), from €241,667 to €228,500
- Cash +€5,651
up €5,651 (+275%), from €2,057 to €7,708
mainly Accrued charges and deferred income (+€21,250) and Net result for the year (+€16,317)
- Tangible fixed assets -€5,074
down €5,074 (-11.7%), from €43,346 to €38,271
of which Other tangible fixed assets: -€3,921
- Accrued charges and deferred income +€21,250
new in 2025: €21,250
- Profit (loss) carried forward +€16,317
up €16,317 (+40.4%), from -€40,412 to -€24,095
- Trade debts +€11,978
up €11,978 (+20.9%), from €57,355 to €69,333
- Other debts -€10,541
down €10,541 (-14.7%), from €71,662 to €61,121
- Gross operating margin -€20,436
down €20,436 (-31.6%), from €64,731 to €44,295
- Staff costs -€18,394
down €18,394 (-88.6%), from €20,760 to €2,367
- Other operating charges +€2,920
up €2,920 (+89.5%), from €3,263 to €6,183
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 | €366,205 | €406,300 | +€40,096 | +10.9% |
| Fixed assets | 21/28 | €56,347 | €51,273 | -€5,074 | -9.0% |
| Tangible fixed assets | 22/27 | €43,346 | €38,271 | -€5,074 | -11.7% |
| Furniture and vehicles | 24 | €3,134 | €1,980 | -€1,154 | -36.8% |
| Other tangible fixed assets | 26 | €40,212 | €36,291 | -€3,921 | -9.7% |
| Financial fixed assets | 28 | €13,001 | €13,001 | = | 0.0% |
| Current assets | 29/58 | €309,858 | €355,028 | +€45,170 | +14.6% |
| Stocks and contracts in progress | 3 | €241,667 | €228,500 | -€13,167 | -5.4% |
| Stocks | 30/36 | €241,667 | €228,500 | -€13,167 | -5.4% |
| Amounts receivable within one year | 40/41 | €66,133 | €118,820 | +€52,686 | +79.7% |
| Trade receivables | 40 | €60,992 | €118,501 | +€57,509 | +94.3% |
| Other amounts receivable | 41 | €5,142 | €319 | -€4,823 | -93.8% |
| Cash at bank and in hand | 54/58 | €2,057 | €7,708 | +€5,651 | +275% |
| Total equity and liabilities | 10/49 | €366,205 | €406,300 | +€40,096 | +10.9% |
| Equity | 10/15 | €186,982 | €203,299 | +€16,317 | +8.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €208,802 | €208,802 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,959 | €33,959 | = | 0.0% |
| Distributable reserves | 133 | €172,984 | €172,984 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,412 | -€24,095 | +€16,317 | +40.4% |
| Amounts payable | 17/49 | €179,223 | €203,002 | +€23,779 | +13.3% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Financial debts | 170/4 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €129,223 | €131,752 | +€2,529 | +2.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €57,355 | €69,333 | +€11,978 | +20.9% |
| Suppliers | 440/4 | €57,355 | €69,333 | +€11,978 | +20.9% |
| Taxes, remuneration and social security | 45 | €205 | €1,297 | +€1,092 | +531% |
| Taxes | 450/3 | €205 | €1,297 | +€1,092 | +531% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €71,662 | €61,121 | -€10,541 | -14.7% |
| Accrued charges and deferred income | 492/3 | - | €21,250 | +€21,250 | |
| Remuneration, social security and pensions | 62 | €20,760 | €2,367 | -€18,394 | -88.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,959 | €15,074 | +€116 | +0.8% |
| Other operating charges | 640/8 | €3,263 | €6,183 | +€2,920 | +89.5% |
| Non-recurring operating charges | 66A | €12,143 | €0 | -€12,143 | -100% |
| Gross operating margin | 9900 | €64,731 | €44,295 | -€20,436 | -31.6% |
| Operating profit (loss) | 9901 | €13,607 | €20,671 | +€7,065 | +51.9% |
| Financial income | 75/76B | €234 | €53 | -€181 | -77.2% |
| Recurring financial income | 75 | €234 | €53 | -€181 | -77.2% |
| Financial charges | 65/66B | €5,028 | €4,408 | -€620 | -12.3% |
| Recurring financial charges | 65 | €5,028 | €4,408 | -€620 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €8,812 | €16,317 | +€7,505 | +85.2% |
| Income taxes | 67/77 | €205 | €0 | -€205 | -100% |
| Profit (loss) for the period | 9904 | €8,607 | €16,317 | +€7,710 | +89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €8,607 | €16,317 | +€7,710 | +89.6% |
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 14 October 2026 via checked.be.