F. TYTGAT: 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.
F. TYTGAT
Largest movements
- Cash +€101,398
up €101,398 (+30.0%), from €337,793 to €439,191
mainly Net result for the year (+€69,833) and Tax, wage and social debts (+€18,662)
- Current investments -€10,532
down €10,532 (-4.6%), from €227,994 to €217,463
- Reserves +€69,833
up €69,833 (+12.2%), from €573,905 to €643,738
- Tax, wage and social debts +€18,662
up €18,662 (+663%), from €2,817 to €21,478
- Financial income -€36,526
down €36,526 (-71.2%), from €51,310 to €14,783
- Gross operating margin +€13,539
up €13,539 (+15.5%), from €87,510 to €101,049
- Taxes -€5,542
down €5,542 (-13.2%), from €41,913 to €36,372
- Financial charges -€3,489
down €3,489 (-75.5%), from €4,621 to €1,131
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 | €601,171 | €688,430 | +€87,259 | +14.5% |
| Fixed assets | 21/28 | €21,427 | €17,991 | -€3,436 | -16.0% |
| Tangible fixed assets | 22/27 | €21,427 | €17,991 | -€3,436 | -16.0% |
| Furniture and vehicles | 24 | €21,427 | €17,991 | -€3,436 | -16.0% |
| Current assets | 29/58 | €579,744 | €670,439 | +€90,695 | +15.6% |
| Amounts receivable within one year | 40/41 | €13,460 | €13,265 | -€194 | -1.4% |
| Trade receivables | 40 | €408 | €6,439 | +€6,031 | +1,478% |
| Other amounts receivable | 41 | €13,052 | €6,826 | -€6,225 | -47.7% |
| Current investments | 50/53 | €227,994 | €217,463 | -€10,532 | -4.6% |
| Cash at bank and in hand | 54/58 | €337,793 | €439,191 | +€101,398 | +30.0% |
| Deferred charges and accrued income | 490/1 | €497 | €520 | +€23 | +4.5% |
| Total equity and liabilities | 10/49 | €601,171 | €688,430 | +€87,259 | +14.5% |
| Equity | 10/15 | €586,300 | €656,132 | +€69,833 | +11.9% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €573,905 | €643,738 | +€69,833 | +12.2% |
| Distributable reserves | 133 | €573,905 | €643,738 | +€69,833 | +12.2% |
| Amounts payable | 17/49 | €14,871 | €32,297 | +€17,426 | +117% |
| Amounts payable within one year | 42/48 | €14,871 | €32,297 | +€17,426 | +117% |
| Current portion of amounts payable after more than one year | 42 | €3,032 | €3,032 | = | 0.0% |
| Trade debts | 44 | €1,676 | €3,879 | +€2,203 | +131% |
| Suppliers | 440/4 | €1,676 | €3,879 | +€2,203 | +131% |
| Taxes, remuneration and social security | 45 | €2,817 | €21,478 | +€18,662 | +663% |
| Taxes | 450/3 | €2,817 | €21,478 | +€18,662 | +663% |
| Other amounts payable | 47/48 | €7,346 | €3,908 | -€3,439 | -46.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,825 | €7,236 | +€411 | +6.0% |
| Other operating charges | 640/8 | €1,535 | €1,261 | -€274 | -17.8% |
| Gross operating margin | 9900 | €87,510 | €101,049 | +€13,539 | +15.5% |
| Operating profit (loss) | 9901 | €79,150 | €92,552 | +€13,402 | +16.9% |
| Financial income | 75/76B | €51,310 | €14,783 | -€36,526 | -71.2% |
| Recurring financial income | 75 | €51,310 | €14,783 | -€36,526 | -71.2% |
| Financial charges | 65/66B | €4,621 | €1,131 | -€3,489 | -75.5% |
| Recurring financial charges | 65 | €4,621 | €1,131 | -€3,489 | -75.5% |
| Profit (loss) for the period before taxes | 9903 | €125,839 | €106,204 | -€19,635 | -15.6% |
| Income taxes | 67/77 | €41,913 | €36,372 | -€5,542 | -13.2% |
| Profit (loss) for the period | 9904 | €83,926 | €69,833 | -€14,093 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €83,926 | €69,833 | -€14,093 | -16.8% |
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 16 October 2026 via checked.be.