LE TILLEUL: 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.
LE TILLEUL
Largest movements
- Tangible fixed assets -€36,906
down €36,906 (-16.1%), from €229,314 to €192,407
of which Plant, machinery and equipment: -€19,973
- Receivables within one year +€22,118
up €22,118 (+78.7%), from €28,101 to €50,218
of which Trade receivables: +€22,116
- Other debts +€21,732
up €21,732 (+13.9%), from €156,744 to €178,476
- Profit (loss) carried forward -€19,188
down €19,188 (-53.8%), from €35,640 to €16,452
- Debts after one year -€11,428
down €11,428 (-33.3%), from €34,288 to €22,860
- Tax, wage and social debts -€2,832
down €2,832 (-58.0%), from €4,885 to €2,054
of which Remuneration and social security: -€2,000
- Gross operating margin -€15,354
down €15,354 (-44.8%), from €34,274 to €18,920
- Depreciation +€5,335
up €5,335 (+16.9%), from €31,571 to €36,906
- Taxes -€2,054
down €2,054 (-100.0%), from €2,055 to €1
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 | €260,822 | €246,781 | -€14,042 | -5.4% |
| Fixed assets | 21/28 | €229,314 | €192,407 | -€36,906 | -16.1% |
| Tangible fixed assets | 22/27 | €229,314 | €192,407 | -€36,906 | -16.1% |
| Plant, machinery and equipment | 23 | €122,412 | €102,439 | -€19,973 | -16.3% |
| Furniture and vehicles | 24 | €106,902 | €89,968 | -€16,934 | -15.8% |
| Current assets | 29/58 | €31,509 | €54,374 | +€22,865 | +72.6% |
| Stocks and contracts in progress | 3 | €2,603 | €2,779 | +€175 | +6.7% |
| Stocks | 30/36 | €2,603 | €2,779 | +€175 | +6.7% |
| Amounts receivable within one year | 40/41 | €28,101 | €50,218 | +€22,118 | +78.7% |
| Trade receivables | 40 | €26,299 | €48,415 | +€22,116 | +84.1% |
| Other amounts receivable | 41 | €1,802 | €1,804 | +€2 | +0.1% |
| Cash at bank and in hand | 54/58 | €805 | €1,377 | +€572 | +71.1% |
| Total equity and liabilities | 10/49 | €260,822 | €246,781 | -€14,042 | -5.4% |
| Equity | 10/15 | €38,863 | €19,674 | -€19,188 | -49.4% |
| Contributions | 10/11 | €2,479 | €2,479 | = | 0.0% |
| Reserves | 13 | €744 | €744 | = | 0.0% |
| Distributable reserves | 133 | €744 | €744 | = | 0.0% |
| Profit (loss) carried forward | 14 | €35,640 | €16,452 | -€19,188 | -53.8% |
| Amounts payable | 17/49 | €221,960 | €227,106 | +€5,147 | +2.3% |
| Amounts payable after more than one year | 17 | €34,288 | €22,860 | -€11,428 | -33.3% |
| Financial debts | 170/4 | €34,288 | €22,860 | -€11,428 | -33.3% |
| Amounts payable within one year | 42/48 | €187,672 | €204,246 | +€16,575 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €11,428 | €11,428 | = | 0.0% |
| Trade debts | 44 | €14,614 | €12,289 | -€2,326 | -15.9% |
| Suppliers | 440/4 | €14,614 | €12,289 | -€2,326 | -15.9% |
| Taxes, remuneration and social security | 45 | €4,885 | €2,054 | -€2,832 | -58.0% |
| Taxes | 450/3 | €2,885 | €2,054 | -€832 | -28.8% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | €156,744 | €178,476 | +€21,732 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,571 | €36,906 | +€5,335 | +16.9% |
| Other operating charges | 640/8 | €616 | €471 | -€144 | -23.5% |
| Gross operating margin | 9900 | €34,274 | €18,920 | -€15,354 | -44.8% |
| Operating profit (loss) | 9901 | €2,087 | -€18,457 | -€20,545 | |
| Financial income | 75/76B | €5 | €5 | -€1 | -16.4% |
| Recurring financial income | 75 | €5 | €5 | -€1 | -16.4% |
| Financial charges | 65/66B | €522 | €734 | +€212 | +40.7% |
| Recurring financial charges | 65 | €522 | €734 | +€212 | +40.7% |
| Profit (loss) for the period before taxes | 9903 | €1,571 | -€19,187 | -€20,758 | |
| Transfer from deferred taxes | 780 | €8,981 | - | -€8,981 | |
| Income taxes | 67/77 | €2,055 | €1 | -€2,054 | -100.0% |
| Profit (loss) for the period | 9904 | €8,496 | -€19,188 | -€27,684 | |
| Transfer from tax-exempt reserves | 789 | €35,923 | - | -€35,923 | |
| Profit (loss) for the period to be appropriated | 9905 | €44,419 | -€19,188 | -€63,607 |
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 24 October 2026 via checked.be.