THE TIGERS: 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.
THE TIGERS
Largest movements
- Stocks and contracts -€4,620
down €4,620 (-6.2%), from €74,458 to €69,838
- Cash -€3,458
down €3,458 (-15.9%), from €21,796 to €18,337
mainly Other debts (-€14,482) and Trade debts (-€5,872)
- Deferred charges and accrued income -€3,258
down €3,258 (-88.1%), from €3,700 to €442
- Other debts -€14,482
down €14,482 (-14.8%), from €97,808 to €83,326
- Profit (loss) carried forward +€10,685
up €10,685, from -€3,020 to €7,665
- Trade debts -€5,872
down €5,872 (-28.6%), from €20,509 to €14,637
- Tax, wage and social debts -€1,461
no longer reported in 2025 (was €1,461)
- Gross operating margin +€20,100
up €20,100 (+46.5%), from €43,208 to €63,308
- Other operating charges -€3,669
down €3,669 (-54.7%), from €6,712 to €3,044
- Taxes -€3,184
no longer reported in 2025 (was €3,184)
- Depreciation -€667
no longer reported in 2025 (was €667)
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 | €117,467 | €106,337 | -€11,130 | -9.5% |
| Fixed assets | 21/28 | €14,180 | €14,180 | = | 0.0% |
| Financial fixed assets | 28 | €14,180 | €14,180 | = | 0.0% |
| Current assets | 29/58 | €103,287 | €92,157 | -€11,130 | -10.8% |
| Stocks and contracts in progress | 3 | €74,458 | €69,838 | -€4,620 | -6.2% |
| Stocks | 30/36 | €74,458 | €69,838 | -€4,620 | -6.2% |
| Amounts receivable within one year | 40/41 | €3,333 | €3,540 | +€207 | +6.2% |
| Trade receivables | 40 | - | €2,397 | +€2,397 | |
| Other amounts receivable | 41 | €3,333 | €1,142 | -€2,191 | -65.7% |
| Cash at bank and in hand | 54/58 | €21,796 | €18,337 | -€3,458 | -15.9% |
| Deferred charges and accrued income | 490/1 | €3,700 | €442 | -€3,258 | -88.1% |
| Total equity and liabilities | 10/49 | €117,467 | €106,337 | -€11,130 | -9.5% |
| Equity | 10/15 | -€2,312 | €8,373 | +€10,685 | |
| Issued capital | 100 | €10,000 | - | -€10,000 | |
| Uncalled capital | 101 | €10,000 | - | -€10,000 | |
| Reserves | 13 | €709 | €709 | = | 0.0% |
| Non-distributable reserves | 130/1 | €709 | €709 | = | 0.0% |
| Legal reserve | 130 | €709 | €709 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,020 | €7,665 | +€10,685 | |
| Amounts payable | 17/49 | €119,779 | €97,964 | -€21,815 | -18.2% |
| Amounts payable within one year | 42/48 | €119,779 | €97,964 | -€21,815 | -18.2% |
| Trade debts | 44 | €20,509 | €14,637 | -€5,872 | -28.6% |
| Suppliers | 440/4 | €20,509 | €14,637 | -€5,872 | -28.6% |
| Taxes, remuneration and social security | 45 | €1,461 | - | -€1,461 | |
| Taxes | 450/3 | €1,461 | - | -€1,461 | |
| Other amounts payable | 47/48 | €97,808 | €83,326 | -€14,482 | -14.8% |
| Remuneration, social security and pensions | 62 | €49,309 | €48,807 | -€502 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €667 | - | -€667 | |
| Other operating charges | 640/8 | €6,712 | €3,044 | -€3,669 | -54.7% |
| Gross operating margin | 9900 | €43,208 | €63,308 | +€20,100 | +46.5% |
| Operating profit (loss) | 9901 | -€13,480 | €11,457 | +€24,936 | |
| Financial charges | 65/66B | €478 | €772 | +€294 | +61.5% |
| Recurring financial charges | 65 | €478 | €772 | +€294 | +61.5% |
| Profit (loss) for the period before taxes | 9903 | -€13,958 | €10,685 | +€24,643 | |
| Income taxes | 67/77 | €3,184 | - | -€3,184 | |
| Profit (loss) for the period | 9904 | -€17,142 | €10,685 | +€27,827 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,142 | €10,685 | +€27,827 |
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 15 October 2026 via checked.be.