FRANCOIS TIBO: 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.
FRANCOIS TIBO
Largest movements
- Cash +€82,689
up €82,689 (+1,324%), from €6,245 to €88,934
- Tangible fixed assets -€57,925
down €57,925 (-63.0%), from €91,923 to €33,998
of which Furniture and vehicles: -€52,736
- Receivables within one year -€45,516
down €45,516 (-76.4%), from €59,604 to €14,088
- Profit (loss) carried forward +€24,801
up €24,801 (+53.0%), from -€46,760 to -€21,959
- Debts after one year -€22,049
down €22,049 (-100%), from €22,049 to €0
- Trade debts -€9,505
down €9,505 (-60.8%), from €15,631 to €6,125
- Current portion of long-term debt -€6,817
down €6,817 (-48.2%), from €14,153 to €7,335
- Tax, wage and social debts -€6,688
no longer reported in 2025 (was €6,688)
of which Remuneration and social security: -€6,688
- Gross operating margin +€101,224
up €101,224 (+84.4%), from €119,927 to €221,152
- Staff costs +€19,053
up €19,053 (+20.0%), from €95,479 to €114,532
- Depreciation -€9,140
down €9,140 (-25.4%), from €36,006 to €26,866
- Taxes +€3,008
up €3,008 (+78.4%), from -€3,835 to -€827
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €157,822 | €137,563 | -€20,259 | -12.8% |
| Fixed assets | 21/28 | €91,973 | €34,048 | -€57,925 | -63.0% |
| Tangible fixed assets | 22/27 | €91,923 | €33,998 | -€57,925 | -63.0% |
| Land and buildings | 22 | €27,628 | €22,438 | -€5,190 | -18.8% |
| Furniture and vehicles | 24 | €64,295 | €11,560 | -€52,736 | -82.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €65,849 | €103,515 | +€37,666 | +57.2% |
| Amounts receivable within one year | 40/41 | €59,604 | €14,088 | -€45,516 | -76.4% |
| Other amounts receivable | 41 | €59,604 | €14,088 | -€45,516 | -76.4% |
| Cash at bank and in hand | 54/58 | €6,245 | €88,934 | +€82,689 | +1,324% |
| Deferred charges and accrued income | 490/1 | - | €493 | +€493 | |
| Total equity and liabilities | 10/49 | €157,822 | €137,563 | -€20,259 | -12.8% |
| Equity | 10/15 | €62,301 | €87,102 | +€24,801 | +39.8% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €102,864 | €102,864 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €101,009 | €101,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,760 | -€21,959 | +€24,801 | +53.0% |
| Provisions and deferred taxes | 16 | €37,000 | €37,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €37,000 | €37,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €37,000 | €37,000 | = | 0.0% |
| Amounts payable | 17/49 | €58,521 | €13,461 | -€45,060 | -77.0% |
| Amounts payable after more than one year | 17 | €22,049 | €0 | -€22,049 | -100% |
| Financial debts | 170/4 | €22,049 | €0 | -€22,049 | -100% |
| Amounts payable within one year | 42/48 | €36,472 | €13,461 | -€23,011 | -63.1% |
| Current portion of amounts payable after more than one year | 42 | €14,153 | €7,335 | -€6,817 | -48.2% |
| Trade debts | 44 | €15,631 | €6,125 | -€9,505 | -60.8% |
| Suppliers | 440/4 | €15,631 | €6,125 | -€9,505 | -60.8% |
| Taxes, remuneration and social security | 45 | €6,688 | - | -€6,688 | |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €6,688 | - | -€6,688 | |
| Other amounts payable | 47/48 | - | €0 | = | |
| Non-recurring operating income | 76A | €229 | - | -€229 | |
| Remuneration, social security and pensions | 62 | €95,479 | €114,532 | +€19,053 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,006 | €26,866 | -€9,140 | -25.4% |
| Other operating charges | 640/8 | €3,711 | €1,954 | -€1,758 | -47.4% |
| Gross operating margin | 9900 | €119,927 | €221,152 | +€101,224 | +84.4% |
| Operating profit (loss) | 9901 | -€15,270 | €77,800 | +€93,069 | |
| Financial income | 75/76B | €482 | €3 | -€479 | -99.4% |
| Recurring financial income | 75 | €482 | €3 | -€479 | -99.4% |
| Financial charges | 65/66B | €1,154 | €1,996 | +€842 | +72.9% |
| Recurring financial charges | 65 | €1,154 | €1,996 | +€842 | +72.9% |
| Profit (loss) for the period before taxes | 9903 | -€15,942 | €75,807 | +€91,749 | |
| Income taxes | 67/77 | -€3,835 | -€827 | +€3,008 | +78.4% |
| Profit (loss) for the period | 9904 | -€12,107 | €76,634 | +€88,741 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,107 | €76,634 | +€88,741 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.