TIBEFLEX: 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.
TIBEFLEX
Largest movements
- Receivables within one year +€313,586
up €313,586 (+43.1%), from €727,694 to €1.0m
of which Other amounts receivable: +€227,336
- Cash -€87,218
down €87,218 (-93.4%), from €93,403 to €6,185
mainly Receivables within one year (-€313,586) and Contributions, distributions and other (-€120,000)
- Tangible fixed assets -€40,600
down €40,600 (-9.9%), from €409,770 to €369,170
of which Other tangible fixed assets: -€48,999
- Intangible fixed assets +€34,530
new in 2025: €34,530
- Tax, wage and social debts +€104,856
up €104,856 (+1,325%), from €7,915 to €112,771
- Trade debts +€42,877
up €42,877 (+7.0%), from €615,027 to €657,904
- Debts after one year +€41,530
up €41,530 (+18.8%), from €221,000 to €262,530
of which Financial debts: +€62,030
- Profit (loss) carried forward +€30,164
up €30,164 (+606%), from €4,980 to €35,144
- Accrued charges and deferred income -€29,105
down €29,105 (-16.7%), from €174,754 to €145,649
- Gross operating margin +€211,031
up €211,031 (+220%), from €96,026 to €307,057
- Taxes +€38,776
up €38,776 (+256%), from €15,145 to €53,921
- Financial charges +€21,401
up €21,401 (+312%), from €6,868 to €28,269
- Depreciation +€3,787
up €3,787 (+5.4%), from €70,671 to €74,458
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 | €1,299,228 | €1,507,784 | +€208,556 | +16.1% |
| Fixed assets | 21/28 | €409,770 | €403,700 | -€6,070 | -1.5% |
| Intangible fixed assets | 21 | - | €34,530 | +€34,530 | |
| Tangible fixed assets | 22/27 | €409,770 | €369,170 | -€40,600 | -9.9% |
| Plant, machinery and equipment | 23 | €4,665 | €9,085 | +€4,420 | +94.7% |
| Furniture and vehicles | 24 | €63,603 | €67,582 | +€3,979 | +6.3% |
| Other tangible fixed assets | 26 | €341,502 | €292,503 | -€48,999 | -14.3% |
| Current assets | 29/58 | €889,458 | €1,104,084 | +€214,626 | +24.1% |
| Stocks and contracts in progress | 3 | €63,750 | €49,164 | -€14,586 | -22.9% |
| Stocks | 30/36 | €63,750 | €49,164 | -€14,586 | -22.9% |
| Amounts receivable within one year | 40/41 | €727,694 | €1,041,280 | +€313,586 | +43.1% |
| Trade receivables | 40 | €478,493 | €564,743 | +€86,250 | +18.0% |
| Other amounts receivable | 41 | €249,201 | €476,537 | +€227,336 | +91.2% |
| Cash at bank and in hand | 54/58 | €93,403 | €6,185 | -€87,218 | -93.4% |
| Deferred charges and accrued income | 490/1 | €4,611 | €7,455 | +€2,844 | +61.7% |
| Total equity and liabilities | 10/49 | €1,299,228 | €1,507,784 | +€208,556 | +16.1% |
| Equity | 10/15 | €254,980 | €285,144 | +€30,164 | +11.8% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,980 | €35,144 | +€30,164 | +606% |
| Provisions and deferred taxes | 16 | €25,552 | €25,552 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €25,552 | €25,552 | = | 0.0% |
| Pensions and similar obligations | 160 | €25,552 | €25,552 | = | 0.0% |
| Amounts payable | 17/49 | €1,018,696 | €1,197,088 | +€178,392 | +17.5% |
| Amounts payable after more than one year | 17 | €221,000 | €262,530 | +€41,530 | +18.8% |
| Financial debts | 170/4 | - | €62,030 | +€62,030 | |
| Other amounts payable | 178/9 | €221,000 | €200,500 | -€20,500 | -9.3% |
| Amounts payable within one year | 42/48 | €622,942 | €788,909 | +€165,967 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | - | €18,234 | +€18,234 | |
| Trade debts | 44 | €615,027 | €657,904 | +€42,877 | +7.0% |
| Suppliers | 440/4 | €615,027 | €657,904 | +€42,877 | +7.0% |
| Taxes, remuneration and social security | 45 | €7,915 | €112,771 | +€104,856 | +1,325% |
| Taxes | 450/3 | €7,915 | €112,771 | +€104,856 | +1,325% |
| Accrued charges and deferred income | 492/3 | €174,754 | €145,649 | -€29,105 | -16.7% |
| Remuneration, social security and pensions | 62 | €1,864 | €1,227 | -€637 | -34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,671 | €74,458 | +€3,787 | +5.4% |
| Other operating charges | 640/8 | €3,941 | €4,352 | +€411 | +10.4% |
| Gross operating margin | 9900 | €96,026 | €307,057 | +€211,031 | +220% |
| Operating profit (loss) | 9901 | €19,550 | €227,020 | +€207,470 | +1,061% |
| Financial income | 75/76B | €4,365 | €5,334 | +€969 | +22.2% |
| Recurring financial income | 75 | €4,365 | €5,334 | +€969 | +22.2% |
| Financial charges | 65/66B | €6,868 | €28,269 | +€21,401 | +312% |
| Recurring financial charges | 65 | €6,868 | €28,269 | +€21,401 | +312% |
| Profit (loss) for the period before taxes | 9903 | €17,047 | €204,085 | +€187,038 | +1,097% |
| Income taxes | 67/77 | €15,145 | €53,921 | +€38,776 | +256% |
| Profit (loss) for the period | 9904 | €1,902 | €150,164 | +€148,262 | +7,795% |
| Profit (loss) for the period to be appropriated | 9905 | €1,902 | €150,164 | +€148,262 | +7,795% |
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.