Tibamel: what changed
Two fiscal 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.
Tibamel
Largest movements
- Cash -€13,295
down €13,295 (-49.5%), from €26,842 to €13,547
mainly Investment in fixed assets (net) (-€47,104) and Debts after one year (-€44,102)
- Receivables within one year +€7,669
up €7,669 (+20.8%), from €36,856 to €44,525
- Debts after one year -€44,102
down €44,102 (-28.6%), from €154,434 to €110,332
- Reserves +€42,381
up €42,381 (+11.5%), from €367,386 to €409,767
of which Distributable reserves: +€43,447
- Gross operating margin +€18,883
up €18,883 (+17.0%), from €111,271 to €130,154
- Taxes +€4,182
up €4,182 (+30.2%), from €13,863 to €18,045
- Financial charges -€2,867
down €2,867 (-20.8%), from €13,808 to €10,941
- Depreciation +€2,529
up €2,529 (+5.8%), from €43,727 to €46,256
- Staff costs -€2,369
down €2,369 (-19.3%), from €12,276 to €9,908
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.
Cash bridge derived
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 | €631,891 | €627,454 | -€4,437 | -0.7% |
| Fixed assets | 21/28 | €566,055 | €566,903 | +€848 | +0.1% |
| Tangible fixed assets | 22/27 | €566,055 | €566,903 | +€848 | +0.1% |
| Land and buildings | 22 | €517,696 | €522,614 | +€4,918 | +0.9% |
| Plant, machinery and equipment | 23 | €13,031 | €7,026 | -€6,004 | -46.1% |
| Furniture and vehicles | 24 | €35,328 | €37,263 | +€1,935 | +5.5% |
| Current assets | 29/58 | €65,836 | €60,551 | -€5,285 | -8.0% |
| Amounts receivable within one year | 40/41 | €36,856 | €44,525 | +€7,669 | +20.8% |
| Trade receivables | 40 | €36,856 | €44,525 | +€7,669 | +20.8% |
| Cash at bank and in hand | 54/58 | €26,842 | €13,547 | -€13,295 | -49.5% |
| Deferred charges and accrued income | 490/1 | €2,138 | €2,478 | +€340 | +15.9% |
| Total equity and liabilities | 10/49 | €631,891 | €627,454 | -€4,437 | -0.7% |
| Equity | 10/15 | €385,986 | €428,367 | +€42,381 | +11.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €367,386 | €409,767 | +€42,381 | +11.5% |
| Tax-exempt reserves | 132 | €20,654 | €19,588 | -€1,066 | -5.2% |
| Distributable reserves | 133 | €346,732 | €390,178 | +€43,447 | +12.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €5,154 | €4,885 | -€269 | -5.2% |
| Deferred taxes | 168 | €5,154 | €4,885 | -€269 | -5.2% |
| Amounts payable | 17/49 | €240,751 | €194,203 | -€46,549 | -19.3% |
| Amounts payable after more than one year | 17 | €154,434 | €110,332 | -€44,102 | -28.6% |
| Financial debts | 170/4 | €154,434 | €110,332 | -€44,102 | -28.6% |
| Amounts payable within one year | 42/48 | €86,317 | €83,105 | -€3,212 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €44,076 | €44,102 | +€26 | +0.1% |
| Financial debts | 43 | €3,333 | €3,119 | -€214 | -6.4% |
| Credit institutions | 430/8 | €3,333 | €3,119 | -€214 | -6.4% |
| Trade debts | 44 | €18,935 | €19,009 | +€75 | +0.4% |
| Suppliers | 440/4 | €18,935 | €19,009 | +€75 | +0.4% |
| Taxes, remuneration and social security | 45 | €4,836 | €4,045 | -€791 | -16.4% |
| Taxes | 450/3 | €3,863 | €4,045 | +€182 | +4.7% |
| Remuneration and social security | 454/9 | €973 | €0 | -€973 | -100.0% |
| Other amounts payable | 47/48 | €15,138 | €12,829 | -€2,308 | -15.2% |
| Accrued charges and deferred income | 492/3 | - | €766 | +€766 | |
| Remuneration, social security and pensions | 62 | €12,276 | €9,908 | -€2,369 | -19.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,727 | €46,256 | +€2,529 | +5.8% |
| Other operating charges | 640/8 | €3,112 | €2,894 | -€218 | -7.0% |
| Gross operating margin | 9900 | €111,271 | €130,154 | +€18,883 | +17.0% |
| Operating profit (loss) | 9901 | €52,156 | €71,097 | +€18,942 | +36.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €13,808 | €10,941 | -€2,867 | -20.8% |
| Recurring financial charges | 65 | €13,808 | €10,941 | -€2,867 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €38,348 | €60,157 | +€21,809 | +56.9% |
| Transfer from deferred taxes | 780 | €269 | €269 | = | 0.0% |
| Income taxes | 67/77 | €13,863 | €18,045 | +€4,182 | +30.2% |
| Profit (loss) for the period | 9904 | €24,754 | €42,381 | +€17,627 | +71.2% |
| Transfer from tax-exempt reserves | 789 | €1,066 | €1,066 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €25,820 | €43,447 | +€17,627 | +68.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.