TIBALEX: 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.
TIBALEX
Largest movements
- Cash +€31,240
up €31,240 (+18.8%), from €166,249 to €197,490
mainly Net result for the year (+€91,274) and Depreciation (+€6,808)
- Receivables within one year +€29,110
up €29,110 (+65.1%), from €44,692 to €73,801
of which Trade receivables: +€26,324
- Tangible fixed assets +€14,790
up €14,790 (+132%), from €11,218 to €26,009
of which Furniture and vehicles: +€17,395
- Reserves +€78,754
up €78,754 (+48.9%), from €161,175 to €239,929
of which Distributable reserves: +€78,754
- Tax, wage and social debts -€9,572
down €9,572 (-46.8%), from €20,432 to €10,860
- Trade debts +€6,118
up €6,118 (+21.2%), from €28,880 to €34,998
- Staff costs -€50,050
down €50,050 (-48.6%), from €102,987 to €52,937
- Gross operating margin -€31,076
down €31,076 (-14.0%), from €221,472 to €190,396
- Taxes +€6,907
up €6,907 (+22.8%), from €30,307 to €37,215
- Depreciation -€4,023
down €4,023 (-37.1%), from €10,831 to €6,808
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €243,033 | €318,437 | +€75,404 | +31.0% |
| Fixed assets | 21/28 | €17,888 | €32,679 | +€14,790 | +82.7% |
| Tangible fixed assets | 22/27 | €11,218 | €26,009 | +€14,790 | +132% |
| Plant, machinery and equipment | 23 | €11,218 | €7,567 | -€3,652 | -32.6% |
| Furniture and vehicles | 24 | - | €17,395 | +€17,395 | |
| Other tangible fixed assets | 26 | - | €1,047 | +€1,047 | |
| Financial fixed assets | 28 | €6,670 | €6,670 | = | 0.0% |
| Current assets | 29/58 | €225,144 | €285,758 | +€60,614 | +26.9% |
| Stocks and contracts in progress | 3 | €13,815 | €13,523 | -€293 | -2.1% |
| Stocks | 30/36 | €13,815 | €13,523 | -€293 | -2.1% |
| Amounts receivable within one year | 40/41 | €44,692 | €73,801 | +€29,110 | +65.1% |
| Trade receivables | 40 | €44,692 | €71,016 | +€26,324 | +58.9% |
| Other amounts receivable | 41 | - | €2,785 | +€2,785 | |
| Cash at bank and in hand | 54/58 | €166,249 | €197,490 | +€31,240 | +18.8% |
| Deferred charges and accrued income | 490/1 | €388 | €945 | +€557 | +144% |
| Total equity and liabilities | 10/49 | €243,033 | €318,437 | +€75,404 | +31.0% |
| Equity | 10/15 | €192,161 | €270,915 | +€78,754 | +41.0% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €161,175 | €239,929 | +€78,754 | +48.9% |
| Tax-exempt reserves | 132 | €2,330 | €2,330 | = | 0.0% |
| Distributable reserves | 133 | €158,845 | €237,599 | +€78,754 | +49.6% |
| Amounts payable | 17/49 | €50,871 | €47,521 | -€3,350 | -6.6% |
| Amounts payable within one year | 42/48 | €50,871 | €47,521 | -€3,350 | -6.6% |
| Trade debts | 44 | €28,880 | €34,998 | +€6,118 | +21.2% |
| Suppliers | 440/4 | €28,880 | €34,998 | +€6,118 | +21.2% |
| Taxes, remuneration and social security | 45 | €20,432 | €10,860 | -€9,572 | -46.8% |
| Taxes | 450/3 | €20,432 | €10,860 | -€9,572 | -46.8% |
| Other amounts payable | 47/48 | €1,559 | €1,663 | +€104 | +6.7% |
| Non-recurring operating income | 76A | €11,205 | - | -€11,205 | |
| Remuneration, social security and pensions | 62 | €102,987 | €52,937 | -€50,050 | -48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,831 | €6,808 | -€4,023 | -37.1% |
| Other operating charges | 640/8 | €1,613 | €1,615 | +€2 | +0.1% |
| Gross operating margin | 9900 | €221,472 | €190,396 | -€31,076 | -14.0% |
| Operating profit (loss) | 9901 | €106,041 | €129,036 | +€22,995 | +21.7% |
| Financial income | 75/76B | €687 | - | -€687 | |
| Recurring financial income | 75 | €687 | - | -€687 | |
| Financial charges | 65/66B | €865 | €547 | -€318 | -36.7% |
| Recurring financial charges | 65 | €865 | €547 | -€318 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €105,863 | €128,489 | +€22,626 | +21.4% |
| Income taxes | 67/77 | €30,307 | €37,215 | +€6,907 | +22.8% |
| Profit (loss) for the period | 9904 | €75,555 | €91,274 | +€15,719 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €75,555 | €91,274 | +€15,719 | +20.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.