EL TIPI: 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.
EL TIPI
Largest movements
- Tangible fixed assets +€141,791
up €141,791 (+42.1%), from €337,022 to €478,813
of which Land and buildings: +€153,104
- Cash -€96,316
down €96,316 (-82.8%), from €116,380 to €20,064
mainly Investment in fixed assets (net) (-€179,713) and Receivables within one year (-€59,664)
- Receivables within one year +€59,664
up €59,664 (+176.6%), from €33,778 to €93,442
of which Trade receivables: +€46,670
- Current investments -€33,806
down €33,806 (-100.0%), from €33,806 to €0
- Current portion of long-term debt +€37,945
up €37,945 (+348.0%), from €10,905 to €48,850
- Reserves +€29,142
up €29,142 (+6.3%), from €459,985 to €489,127
- Gross operating margin +€52,574
up €52,574 (+153.0%), from €34,362 to €86,935
- Depreciation +€26,609
up €26,609 (+235.2%), from €11,313 to €37,922
- Taxes +€8,046
up €8,046 (+113.6%), from €7,083 to €15,129
- Financial charges +€5,623
up €5,623, from -€3,106 to €2,517
- Financial income -€1,564
down €1,564 (-82.7%), from €1,892 to €328
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €522,611 | €594,274 | +€71,663 | +13.7% |
| Fixed assets | 21/28 | €337,022 | €478,813 | +€141,791 | +42.1% |
| Tangible fixed assets | 22/27 | €337,022 | €478,813 | +€141,791 | +42.1% |
| Land and buildings | 22 | - | €153,104 | +€153,104 | |
| Plant, machinery and equipment | 23 | €932 | €463 | -€469 | -50.3% |
| Leasing and similar rights | 25 | €30,484 | €19,640 | -€10,845 | -35.6% |
| Other tangible fixed assets | 26 | €305,605 | €305,605 | = | 0.0% |
| Current assets | 29/58 | €185,590 | €115,462 | -€70,128 | -37.8% |
| Amounts receivable within one year | 40/41 | €33,778 | €93,442 | +€59,664 | +176.6% |
| Trade receivables | 40 | €17,794 | €64,464 | +€46,670 | +262.3% |
| Other amounts receivable | 41 | €15,984 | €28,979 | +€12,995 | +81.3% |
| Current investments | 50/53 | €33,806 | €0 | -€33,806 | -100.0% |
| Cash at bank and in hand | 54/58 | €116,380 | €20,064 | -€96,316 | -82.8% |
| Deferred charges and accrued income | 490/1 | €1,626 | €1,955 | +€329 | +20.2% |
| Total equity and liabilities | 10/49 | €522,611 | €594,274 | +€71,663 | +13.7% |
| Equity | 10/15 | €482,599 | €511,622 | +€29,023 | +6.0% |
| Contributions | 10/11 | €22,495 | €22,495 | = | 0.0% |
| Reserves | 13 | €459,985 | €489,127 | +€29,142 | +6.3% |
| Distributable reserves | 133 | €459,985 | €489,127 | +€29,142 | +6.3% |
| Profit (loss) carried forward | 14 | €119 | €0 | -€119 | -100.0% |
| Amounts payable | 17/49 | €40,013 | €82,652 | +€42,639 | +106.6% |
| Amounts payable after more than one year | 17 | €19,737 | €21,359 | +€1,622 | +8.2% |
| Financial debts | 170/4 | €19,737 | €21,359 | +€1,622 | +8.2% |
| Amounts payable within one year | 42/48 | €20,276 | €61,293 | +€41,017 | +202.3% |
| Current portion of amounts payable after more than one year | 42 | €10,905 | €48,850 | +€37,945 | +348.0% |
| Trade debts | 44 | €1,136 | €1,560 | +€424 | +37.3% |
| Suppliers | 440/4 | €1,136 | €1,560 | +€424 | +37.3% |
| Taxes, remuneration and social security | 45 | €4,551 | €7,198 | +€2,648 | +58.2% |
| Taxes | 450/3 | €2,040 | €4,616 | +€2,576 | +126.3% |
| Remuneration and social security | 454/9 | €2,511 | €2,582 | +€72 | +2.9% |
| Other amounts payable | 47/48 | €3,684 | €3,684 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,313 | €37,922 | +€26,609 | +235.2% |
| Other operating charges | 640/8 | €2,106 | €2,671 | +€565 | +26.8% |
| Gross operating margin | 9900 | €34,362 | €86,935 | +€52,574 | +153.0% |
| Operating profit (loss) | 9901 | €20,942 | €46,342 | +€25,400 | +121.3% |
| Financial income | 75/76B | €1,892 | €328 | -€1,564 | -82.7% |
| Recurring financial income | 75 | €1,892 | €328 | -€1,564 | -82.7% |
| Financial charges | 65/66B | -€3,106 | €2,517 | +€5,623 | |
| Recurring financial charges | 65 | -€3,106 | €2,517 | +€5,623 | |
| Profit (loss) for the period before taxes | 9903 | €25,940 | €44,153 | +€18,213 | +70.2% |
| Income taxes | 67/77 | €7,083 | €15,129 | +€8,046 | +113.6% |
| Profit (loss) for the period | 9904 | €18,856 | €29,023 | +€10,167 | +53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,856 | €29,023 | +€10,167 | +53.9% |
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 9 October 2026 via checked.be.