TI-RES: 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.
TI-RES
Largest movements
- Cash +€114,372
up €114,372 (+406%), from €28,162 to €142,534
mainly Depreciation (+€119,806) and Tax, wage and social debts (+€53,532)
- Tangible fixed assets -€70,335
down €70,335 (-2.7%), from €2.6m to €2.5m
of which Land and buildings: -€74,341
- Receivables within one year +€60,847
up €60,847 (+528%), from €11,520 to €72,367
of which Other amounts receivable: +€57,430
- Reserves -€64,742
down €64,742 (-49.1%), from €131,868 to €67,125
- Tax, wage and social debts +€53,532
new in 2025: €53,532
- Debts after one year +€49,379
up €49,379 (+2.1%), from €2.3m to €2.4m
- Other debts +€40,078
up €40,078 (+5,471%), from €733 to €40,811
- Other operating charges +€88,344
up €88,344 (+1,148%), from €7,697 to €96,041
- Gross operating margin +€47,984
up €47,984 (+25.9%), from €184,985 to €232,970
- Depreciation +€23,838
up €23,838 (+24.8%), from €95,968 to €119,806
- Financial charges +€6,823
up €6,823 (+9.1%), from €75,041 to €81,864
- Financial income -€4,173
down €4,173 (-100%), from €4,173 to €0
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 | €2,657,730 | €2,758,281 | +€100,551 | +3.8% |
| Fixed assets | 21/28 | €2,607,663 | €2,537,327 | -€70,335 | -2.7% |
| Tangible fixed assets | 22/27 | €2,607,663 | €2,537,327 | -€70,335 | -2.7% |
| Land and buildings | 22 | €2,602,151 | €2,527,810 | -€74,341 | -2.9% |
| Plant, machinery and equipment | 23 | €5,511 | €9,517 | +€4,006 | +72.7% |
| Current assets | 29/58 | €50,068 | €220,954 | +€170,886 | +341% |
| Amounts receivable within one year | 40/41 | €11,520 | €72,367 | +€60,847 | +528% |
| Trade receivables | 40 | €1,176 | €4,592 | +€3,416 | +291% |
| Other amounts receivable | 41 | €10,345 | €67,775 | +€57,430 | +555% |
| Cash at bank and in hand | 54/58 | €28,162 | €142,534 | +€114,372 | +406% |
| Deferred charges and accrued income | 490/1 | €10,385 | €6,053 | -€4,332 | -41.7% |
| Total equity and liabilities | 10/49 | €2,657,730 | €2,758,281 | +€100,551 | +3.8% |
| Equity | 10/15 | €151,868 | €87,125 | -€64,742 | -42.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €131,868 | €67,125 | -€64,742 | -49.1% |
| Distributable reserves | 133 | €131,868 | €67,125 | -€64,742 | -49.1% |
| Amounts payable | 17/49 | €2,505,863 | €2,671,156 | +€165,293 | +6.6% |
| Amounts payable after more than one year | 17 | €2,319,604 | €2,368,983 | +€49,379 | +2.1% |
| Financial debts | 170/4 | €2,319,604 | €2,368,983 | +€49,379 | +2.1% |
| Amounts payable within one year | 42/48 | €168,189 | €282,556 | +€114,367 | +68.0% |
| Current portion of amounts payable after more than one year | 42 | €124,966 | €151,285 | +€26,318 | +21.1% |
| Trade debts | 44 | €40,054 | €36,928 | -€3,126 | -7.8% |
| Suppliers | 440/4 | €40,054 | €36,928 | -€3,126 | -7.8% |
| Advances received on contracts in progress | 46 | €2,436 | €0 | -€2,436 | -100% |
| Taxes, remuneration and social security | 45 | - | €53,532 | +€53,532 | |
| Taxes | 450/3 | - | €53,532 | +€53,532 | |
| Other amounts payable | 47/48 | €733 | €40,811 | +€40,078 | +5,471% |
| Accrued charges and deferred income | 492/3 | €18,070 | €19,617 | +€1,547 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,968 | €119,806 | +€23,838 | +24.8% |
| Other operating charges | 640/8 | €7,697 | €96,041 | +€88,344 | +1,148% |
| Gross operating margin | 9900 | €184,985 | €232,970 | +€47,984 | +25.9% |
| Operating profit (loss) | 9901 | €81,320 | €17,122 | -€64,198 | -78.9% |
| Financial income | 75/76B | €4,173 | €0 | -€4,173 | -100% |
| Recurring financial income | 75 | €4,173 | €0 | -€4,173 | -100% |
| Financial charges | 65/66B | €75,041 | €81,864 | +€6,823 | +9.1% |
| Recurring financial charges | 65 | €75,041 | €81,864 | +€6,823 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | €10,452 | -€64,742 | -€75,194 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €10,452 | -€64,742 | -€75,194 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,452 | -€64,742 | -€75,194 |
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 14 October 2026 via checked.be.