Tiarts: 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.
Tiarts
Largest movements
- Tangible fixed assets -€23,700
down €23,700 (-21.0%), from €113,014 to €89,314
of which Other tangible fixed assets: -€26,161
- Receivables within one year -€18,925
down €18,925 (-31.8%), from €59,480 to €40,555
of which Trade receivables: -€29,946
- Cash -€17,220
down €17,220 (-15.2%), from €113,491 to €96,271
mainly Debts after one year (-€61,651) and Trade debts (-€16,048)
- Debts after one year -€61,651
down €61,651 (-30.6%), from €201,238 to €139,588
of which Other amounts payable: -€36,655
- Reserves +€33,135
up €33,135 (+62.2%), from €53,255 to €86,390
- Trade debts -€16,048
down €16,048 (-71.0%), from €22,612 to €6,564
- Tax, wage and social debts -€13,889
down €13,889 (-40.3%), from €34,484 to €20,595
of which Taxes: -€12,207
- Accrued charges and deferred income -€7,000
down €7,000 (-20.0%), from €35,000 to €28,000
- Staff costs +€11,667
up €11,667 (+10.5%), from €110,660 to €122,327
- Gross operating margin -€6,657
down €6,657 (-3.3%), from €204,628 to €197,971
- Taxes -€3,425
down €3,425 (-27.7%), from €12,377 to €8,952
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 | €384,135 | €319,970 | -€64,165 | -16.7% |
| Fixed assets | 21/28 | €113,014 | €89,314 | -€23,700 | -21.0% |
| Tangible fixed assets | 22/27 | €113,014 | €89,314 | -€23,700 | -21.0% |
| Plant, machinery and equipment | 23 | €5,537 | €6,973 | +€1,437 | +26.0% |
| Furniture and vehicles | 24 | €1,705 | €2,729 | +€1,024 | +60.0% |
| Other tangible fixed assets | 26 | €105,772 | €79,611 | -€26,161 | -24.7% |
| Current assets | 29/58 | €271,122 | €230,657 | -€40,465 | -14.9% |
| Stocks and contracts in progress | 3 | €96,338 | €93,267 | -€3,070 | -3.2% |
| Stocks | 30/36 | €96,338 | €93,267 | -€3,070 | -3.2% |
| Amounts receivable within one year | 40/41 | €59,480 | €40,555 | -€18,925 | -31.8% |
| Trade receivables | 40 | €30,000 | €54 | -€29,946 | -99.8% |
| Other amounts receivable | 41 | €29,480 | €40,501 | +€11,021 | +37.4% |
| Cash at bank and in hand | 54/58 | €113,491 | €96,271 | -€17,220 | -15.2% |
| Deferred charges and accrued income | 490/1 | €1,813 | €563 | -€1,250 | -68.9% |
| Total equity and liabilities | 10/49 | €384,135 | €319,970 | -€64,165 | -16.7% |
| Equity | 10/15 | €65,655 | €98,790 | +€33,135 | +50.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €53,255 | €86,390 | +€33,135 | +62.2% |
| Distributable reserves | 133 | €53,255 | €86,390 | +€33,135 | +62.2% |
| Amounts payable | 17/49 | €318,480 | €221,181 | -€97,299 | -30.6% |
| Amounts payable after more than one year | 17 | €201,238 | €139,588 | -€61,651 | -30.6% |
| Financial debts | 170/4 | €87,526 | €62,530 | -€24,996 | -28.6% |
| Other amounts payable | 178/9 | €113,712 | €77,058 | -€36,655 | -32.2% |
| Amounts payable within one year | 42/48 | €82,242 | €53,593 | -€28,649 | -34.8% |
| Current portion of amounts payable after more than one year | 42 | €24,996 | €24,996 | = | 0.0% |
| Financial debts | 43 | €150 | €0 | -€150 | -100% |
| Credit institutions | 430/8 | €150 | €0 | -€150 | -100% |
| Trade debts | 44 | €22,612 | €6,564 | -€16,048 | -71.0% |
| Suppliers | 440/4 | €22,612 | €6,564 | -€16,048 | -71.0% |
| Taxes, remuneration and social security | 45 | €34,484 | €20,595 | -€13,889 | -40.3% |
| Taxes | 450/3 | €21,165 | €8,958 | -€12,207 | -57.7% |
| Remuneration and social security | 454/9 | €13,319 | €11,637 | -€1,682 | -12.6% |
| Other amounts payable | 47/48 | €0 | €1,438 | +€1,438 | |
| Accrued charges and deferred income | 492/3 | €35,000 | €28,000 | -€7,000 | -20.0% |
| Non-recurring operating income | 76A | €7,259 | €7,000 | -€259 | -3.6% |
| Remuneration, social security and pensions | 62 | €110,660 | €122,327 | +€11,667 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,615 | €28,083 | +€468 | +1.7% |
| Other operating charges | 640/8 | €1,425 | €1,633 | +€208 | +14.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €204,628 | €197,971 | -€6,657 | -3.3% |
| Operating profit (loss) | 9901 | €64,929 | €45,929 | -€19,000 | -29.3% |
| Financial income | 75/76B | €2,207 | €4,195 | +€1,988 | +90.1% |
| Recurring financial income | 75 | €2,207 | €4,195 | +€1,988 | +90.1% |
| Financial charges | 65/66B | €9,338 | €8,037 | -€1,301 | -13.9% |
| Recurring financial charges | 65 | €9,338 | €8,037 | -€1,301 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €57,797 | €42,086 | -€15,711 | -27.2% |
| Income taxes | 67/77 | €12,377 | €8,952 | -€3,425 | -27.7% |
| Profit (loss) for the period | 9904 | €45,421 | €33,135 | -€12,286 | -27.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,421 | €33,135 | -€12,286 | -27.0% |
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.