TIBATEC: 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.
TIBATEC
Largest movements
- Financial fixed assets +€175,000
up €175,000 (+13.6%), from €1.3m to €1.5m
- Cash -€93,306
down €93,306 (-44.7%), from €208,783 to €115,477
mainly Contributions, distributions and other (-€600,000) and Investment in fixed assets (net) (-€184,197)
- Receivables within one year +€54,760
up €54,760 (+198%), from €27,709 to €82,469
of which Other amounts receivable: +€54,760
- Current investments +€18,000
new in 2025: €18,000
- Profit (loss) carried forward +€233,851
up €233,851 (+16.8%), from €1.4m to €1.6m
- Other debts -€46,703
down €46,703 (-67.5%), from €69,204 to €22,501
- Debts after one year -€25,088
down €25,088 (-43.6%), from €57,564 to €32,476
- Gross operating margin -€263,905
down €263,905 (-82.8%), from €318,788 to €54,882
- Financial income +€250,000
up €250,000 (+41.7%), from €600,000 to €850,000
- Taxes -€50,908
down €50,908 (-99.5%), from €51,154 to €245
- Staff costs -€24,304
down €24,304 (-38.2%), from €63,628 to €39,324
- Financial charges -€3,882
down €3,882 (-33.4%), from €11,626 to €7,744
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 | €1,604,874 | €1,749,444 | +€144,570 | +9.0% |
| Fixed assets | 21/28 | €1,359,632 | €1,523,567 | +€163,935 | +12.1% |
| Tangible fixed assets | 22/27 | €70,793 | €59,728 | -€11,065 | -15.6% |
| Plant, machinery and equipment | 23 | €1,940 | €1,354 | -€586 | -30.2% |
| Furniture and vehicles | 24 | €3,373 | €10,572 | +€7,199 | +213% |
| Leasing and similar rights | 25 | €65,481 | €47,803 | -€17,678 | -27.0% |
| Financial fixed assets | 28 | €1,288,839 | €1,463,839 | +€175,000 | +13.6% |
| Current assets | 29/58 | €245,242 | €225,877 | -€19,365 | -7.9% |
| Amounts receivable after more than one year | 29 | €8,750 | €7,250 | -€1,500 | -17.1% |
| Other amounts receivable | 291 | €8,750 | €7,250 | -€1,500 | -17.1% |
| Amounts receivable within one year | 40/41 | €27,709 | €82,469 | +€54,760 | +198% |
| Trade receivables | 40 | €27,709 | €27,709 | = | 0.0% |
| Other amounts receivable | 41 | - | €54,760 | +€54,760 | |
| Current investments | 50/53 | - | €18,000 | +€18,000 | |
| Cash at bank and in hand | 54/58 | €208,783 | €115,477 | -€93,306 | -44.7% |
| Deferred charges and accrued income | 490/1 | €0 | €2,682 | +€2,682 | |
| Total equity and liabilities | 10/49 | €1,604,874 | €1,749,444 | +€144,570 | +9.0% |
| Equity | 10/15 | €1,409,215 | €1,643,065 | +€233,851 | +16.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,388,755 | €1,622,605 | +€233,851 | +16.8% |
| Amounts payable | 17/49 | €195,659 | €106,379 | -€89,280 | -45.6% |
| Amounts payable after more than one year | 17 | €57,564 | €32,476 | -€25,088 | -43.6% |
| Financial debts | 170/4 | €57,564 | €32,476 | -€25,088 | -43.6% |
| Amounts payable within one year | 42/48 | €132,914 | €70,657 | -€62,257 | -46.8% |
| Current portion of amounts payable after more than one year | 42 | €35,257 | €37,588 | +€2,332 | +6.6% |
| Trade debts | 44 | €7,381 | €4,265 | -€3,117 | -42.2% |
| Suppliers | 440/4 | €7,381 | €4,265 | -€3,117 | -42.2% |
| Taxes, remuneration and social security | 45 | €21,073 | €6,303 | -€14,770 | -70.1% |
| Taxes | 450/3 | €12,274 | €6,303 | -€5,971 | -48.6% |
| Remuneration and social security | 454/9 | €8,799 | €0 | -€8,799 | -100% |
| Other amounts payable | 47/48 | €69,204 | €22,501 | -€46,703 | -67.5% |
| Accrued charges and deferred income | 492/3 | €5,181 | €3,246 | -€1,935 | -37.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €63,628 | €39,324 | -€24,304 | -38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,189 | €20,262 | +€1,073 | +5.6% |
| Other operating charges | 640/8 | €3,567 | €3,456 | -€111 | -3.1% |
| Gross operating margin | 9900 | €318,788 | €54,882 | -€263,905 | -82.8% |
| Operating profit (loss) | 9901 | €232,403 | -€8,160 | -€240,563 | |
| Financial income | 75/76B | €600,000 | €850,000 | +€250,000 | +41.7% |
| Recurring financial income | 75 | €600,000 | €850,000 | +€250,000 | +41.7% |
| Financial charges | 65/66B | €11,626 | €7,744 | -€3,882 | -33.4% |
| Recurring financial charges | 65 | €11,626 | €7,744 | -€3,882 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €820,777 | €834,096 | +€13,319 | +1.6% |
| Income taxes | 67/77 | €51,154 | €245 | -€50,908 | -99.5% |
| Profit (loss) for the period | 9904 | €769,624 | €833,851 | +€64,227 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €769,624 | €833,851 | +€64,227 | +8.3% |
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.