TIANGU: 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.
TIANGU
Largest movements
- Cash +€156,601
up €156,601 (+151%), from €103,444 to €260,046
mainly Debts after one year (+€135,000) and Receivables after one year (+€56,000)
- Receivables after one year -€56,000
down €56,000 (-100%), from €56,000 to €0
- Receivables within one year -€41,100
down €41,100 (-97.0%), from €42,350 to €1,250
of which Trade receivables: -€42,350
- Financial fixed assets +€18,398
new in 2025: €18,398
- Tangible fixed assets -€7,455
down €7,455 (-67.3%), from €11,071 to €3,616
of which Leasing and similar rights: -€7,744
- Debts after one year +€135,000
up €135,000, from €0 to €135,000
- Other debts -€36,961
down €36,961 (-86.8%), from €42,603 to €5,643
- Tax, wage and social debts -€16,263
down €16,263 (-86.0%), from €18,915 to €2,652
- Current portion of long-term debt -€7,515
down €7,515 (-100%), from €7,515 to €0
- Profit (loss) carried forward -€4,651
down €4,651 (-98.9%), from €4,703 to €52
- Gross operating margin +€2,098
up €2,098 (+2.7%), from €77,242 to €79,339
- Financial charges +€1,405
up €1,405 (+467%), from €301 to €1,705
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 | €216,240 | €285,422 | +€69,182 | +32.0% |
| Fixed assets | 21/28 | €11,071 | €22,014 | +€10,943 | +98.8% |
| Tangible fixed assets | 22/27 | €11,071 | €3,616 | -€7,455 | -67.3% |
| Furniture and vehicles | 24 | €3,327 | €3,616 | +€289 | +8.7% |
| Leasing and similar rights | 25 | €7,744 | €0 | -€7,744 | -100% |
| Financial fixed assets | 28 | - | €18,398 | +€18,398 | |
| Current assets | 29/58 | €205,169 | €263,408 | +€58,239 | +28.4% |
| Amounts receivable after more than one year | 29 | €56,000 | €0 | -€56,000 | -100% |
| Other amounts receivable | 291 | €56,000 | €0 | -€56,000 | -100% |
| Amounts receivable within one year | 40/41 | €42,350 | €1,250 | -€41,100 | -97.0% |
| Trade receivables | 40 | €42,350 | €0 | -€42,350 | -100% |
| Other amounts receivable | 41 | - | €1,250 | +€1,250 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €103,444 | €260,046 | +€156,601 | +151% |
| Deferred charges and accrued income | 490/1 | €3,375 | €2,112 | -€1,263 | -37.4% |
| Total equity and liabilities | 10/49 | €216,240 | €285,422 | +€69,182 | +32.0% |
| Equity | 10/15 | €145,203 | €140,552 | -€4,651 | -3.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €135,500 | €135,500 | = | 0.0% |
| Distributable reserves | 133 | €135,500 | €135,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,703 | €52 | -€4,651 | -98.9% |
| Amounts payable | 17/49 | €71,037 | €144,870 | +€73,832 | +104% |
| Amounts payable after more than one year | 17 | €0 | €135,000 | +€135,000 | |
| Financial debts | 170/4 | €0 | €135,000 | +€135,000 | |
| Amounts payable within one year | 42/48 | €71,037 | €8,351 | -€62,686 | -88.2% |
| Current portion of amounts payable after more than one year | 42 | €7,515 | €0 | -€7,515 | -100% |
| Trade debts | 44 | €2,004 | €57 | -€1,948 | -97.2% |
| Suppliers | 440/4 | €2,004 | €57 | -€1,948 | -97.2% |
| Taxes, remuneration and social security | 45 | €18,915 | €2,652 | -€16,263 | -86.0% |
| Taxes | 450/3 | €18,915 | €2,652 | -€16,263 | -86.0% |
| Other amounts payable | 47/48 | €42,603 | €5,643 | -€36,961 | -86.8% |
| Accrued charges and deferred income | 492/3 | - | €1,519 | +€1,519 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,295 | €9,343 | +€48 | +0.5% |
| Other operating charges | 640/8 | €1,748 | €1,598 | -€149 | -8.5% |
| Gross operating margin | 9900 | €77,242 | €79,339 | +€2,098 | +2.7% |
| Operating profit (loss) | 9901 | €66,199 | €68,398 | +€2,199 | +3.3% |
| Financial income | 75/76B | €2,925 | €2,501 | -€424 | -14.5% |
| Recurring financial income | 75 | €2,925 | €2,501 | -€424 | -14.5% |
| Financial charges | 65/66B | €301 | €1,705 | +€1,405 | +467% |
| Recurring financial charges | 65 | €301 | €1,705 | +€1,405 | +467% |
| Profit (loss) for the period before taxes | 9903 | €68,823 | €69,193 | +€371 | +0.5% |
| Income taxes | 67/77 | €14,619 | €14,144 | -€475 | -3.3% |
| Profit (loss) for the period | 9904 | €54,204 | €55,049 | +€846 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,204 | €55,049 | +€846 | +1.6% |
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 20 October 2026 via checked.be.