TIBELMA: 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.
TIBELMA
Largest movements
- Tangible fixed assets -€42,527
down €42,527 (-21.2%), from €200,730 to €158,203
- Receivables within one year -€12,081
down €12,081 (-61.7%), from €19,589 to €7,508
of which Other amounts receivable: -€7,084
- Stocks and contracts -€8,090
down €8,090 (-7.1%), from €113,576 to €105,486
- Receivables after one year -€7,000
down €7,000 (-14.9%), from €47,000 to €40,000
- Cash -€5,052
down €5,052 (-50.8%), from €9,948 to €4,896
mainly Net result for the year (-€56,847) and Debts after one year (-€44,746)
- Profit (loss) carried forward -€56,847
down €56,847 (-18.0%), from -€315,514 to -€372,361
- Debts after one year -€44,746
down €44,746 (-33.0%), from €135,573 to €90,827
- Trade debts +€14,974
up €14,974 (+7.9%), from €189,202 to €204,176
- Revaluation surpluses -€11,415
down €11,415 (-16.1%), from €71,028 to €59,613
- Reserves +€11,415
up €11,415 (+6.0%), from €188,842 to €200,257
- Turnover -€74,063
down €74,063 (-4.7%), from €1.6m to €1.5m
- Purchases and services -€41,037
down €41,037 (-2.9%), from €1.4m to €1.4m
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 | €391,178 | €318,307 | -€72,871 | -18.6% |
| Fixed assets | 21/28 | €201,065 | €158,538 | -€42,527 | -21.2% |
| Tangible fixed assets | 22/27 | €200,730 | €158,203 | -€42,527 | -21.2% |
| Land and buildings | 22 | €93,218 | €76,661 | -€16,556 | -17.8% |
| Plant, machinery and equipment | 23 | €33,556 | €25,019 | -€8,537 | -25.4% |
| Leasing and similar rights | 25 | €73,957 | €56,523 | -€17,434 | -23.6% |
| Financial fixed assets | 28 | €335 | €335 | = | 0.0% |
| Current assets | 29/58 | €190,113 | €159,769 | -€30,344 | -16.0% |
| Amounts receivable after more than one year | 29 | €47,000 | €40,000 | -€7,000 | -14.9% |
| Other amounts receivable | 291 | €47,000 | €40,000 | -€7,000 | -14.9% |
| Stocks and contracts in progress | 3 | €113,576 | €105,486 | -€8,090 | -7.1% |
| Stocks | 30/36 | €113,576 | €105,486 | -€8,090 | -7.1% |
| Amounts receivable within one year | 40/41 | €19,589 | €7,508 | -€12,081 | -61.7% |
| Trade receivables | 40 | €5,999 | €1,002 | -€4,997 | -83.3% |
| Other amounts receivable | 41 | €13,590 | €6,506 | -€7,084 | -52.1% |
| Cash at bank and in hand | 54/58 | €9,948 | €4,896 | -€5,052 | -50.8% |
| Deferred charges and accrued income | 490/1 | - | €1,879 | +€1,879 | |
| Total equity and liabilities | 10/49 | €391,178 | €318,307 | -€72,871 | -18.6% |
| Equity | 10/15 | €6,356 | -€50,492 | -€56,847 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €71,028 | €59,613 | -€11,415 | -16.1% |
| Reserves | 13 | €188,842 | €200,257 | +€11,415 | +6.0% |
| Non-distributable reserves | 130/1 | €188,842 | €200,257 | +€11,415 | +6.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Other | 1319 | €182,642 | €194,057 | +€11,415 | +6.2% |
| Profit (loss) carried forward | 14 | -€315,514 | -€372,361 | -€56,847 | -18.0% |
| Amounts payable | 17/49 | €384,823 | €368,799 | -€16,024 | -4.2% |
| Amounts payable after more than one year | 17 | €135,573 | €90,827 | -€44,746 | -33.0% |
| Financial debts | 170/4 | €135,573 | €90,827 | -€44,746 | -33.0% |
| Amounts payable within one year | 42/48 | €249,249 | €276,192 | +€26,943 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €21,449 | €26,296 | +€4,847 | +22.6% |
| Trade debts | 44 | €189,202 | €204,176 | +€14,974 | +7.9% |
| Suppliers | 440/4 | €189,202 | €204,176 | +€14,974 | +7.9% |
| Taxes, remuneration and social security | 45 | €22,799 | €21,470 | -€1,329 | -5.8% |
| Taxes | 450/3 | €859 | €660 | -€199 | -23.2% |
| Remuneration and social security | 454/9 | €21,940 | €20,810 | -€1,130 | -5.1% |
| Other amounts payable | 47/48 | €15,800 | €24,250 | +€8,450 | +53.5% |
| Accrued charges and deferred income | 492/3 | - | €1,780 | +€1,780 | |
| Turnover | 70 | €1,565,922 | €1,491,859 | -€74,063 | -4.7% |
| Non-recurring operating income | 76A | €3,574 | - | -€3,574 | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,435,315 | €1,394,278 | -€41,037 | -2.9% |
| Remuneration, social security and pensions | 62 | €116,707 | €125,247 | +€8,540 | +7.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,220 | €43,847 | -€6,373 | -12.7% |
| Other operating charges | 640/8 | €6,716 | €16,010 | +€9,295 | +138% |
| Non-recurring operating charges | 66A | €349 | €16,577 | +€16,227 | +4,647% |
| Gross operating margin | 9900 | €152,572 | €152,455 | -€117 | -0.1% |
| Operating profit (loss) | 9901 | -€21,420 | -€49,227 | -€27,807 | -130% |
| Financial income | 75/76B | €36 | €34 | -€2 | -4.5% |
| Recurring financial income | 75 | €36 | €34 | -€2 | -4.5% |
| Financial charges | 65/66B | €8,567 | €6,995 | -€1,572 | -18.4% |
| Recurring financial charges | 65 | €9,469 | €6,995 | -€2,475 | -26.1% |
| Non-recurring financial charges | 66B | -€902 | - | +€902 | |
| Profit (loss) for the period before taxes | 9903 | -€29,951 | -€56,187 | -€26,236 | -87.6% |
| Income taxes | 67/77 | €12 | €660 | +€648 | +5,580% |
| Profit (loss) for the period | 9904 | -€29,963 | -€56,847 | -€26,884 | -89.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,963 | -€56,847 | -€26,884 | -89.7% |
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 25 October 2026 via checked.be.