TIBESA: 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.
TIBESA
Largest movements
- Cash -€700,048
down €700,048 (-33.2%), from €2.1m to €1.4m
mainly Provisions (-€948,997) and Investment in fixed assets (net) (-€9,678)
- Receivables within one year -€80,456
down €80,456 (-92.9%), from €86,581 to €6,125
- Tangible fixed assets -€49,978
down €49,978 (-12.1%), from €413,385 to €363,407
- Provisions -€948,997
down €948,997 (-98.7%), from €961,247 to €12,250
- Profit (loss) carried forward +€122,691
up €122,691 (+13.8%), from €891,126 to €1.0m
- Gross operating margin -€2.2m
down €2.2m, from €1.4m to -€761,588
- Taxes -€367,011
down €367,011 (-87.3%), from €420,505 to €53,494
- Depreciation -€46,456
down €46,456 (-43.8%), from €106,112 to €59,656
From the 2014 result to the 2015 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 2014 and 2015 balance sheets and the 2015 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2014 | 2015 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,610,906 | €1,780,424 | -€830,482 | -31.8% |
| Fixed assets | 21/28 | €413,385 | €363,407 | -€49,978 | -12.1% |
| Tangible fixed assets | 22/27 | €413,385 | €363,407 | -€49,978 | -12.1% |
| Current assets | 29/58 | €2,197,521 | €1,417,017 | -€780,504 | -35.5% |
| Amounts receivable within one year | 40/41 | €86,581 | €6,125 | -€80,456 | -92.9% |
| Cash at bank and in hand | 54/58 | €2,110,940 | €1,410,892 | -€700,048 | -33.2% |
| Total equity and liabilities | 10/49 | €2,610,906 | €1,780,424 | -€830,482 | -31.8% |
| Equity | 10/15 | €1,284,431 | €1,407,142 | +€122,711 | +9.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €374,705 | €374,725 | +€20 | 0.0% |
| Profit (loss) carried forward | 14 | €891,126 | €1,013,817 | +€122,691 | +13.8% |
| Provisions and deferred taxes | 16 | €961,247 | €12,250 | -€948,997 | -98.7% |
| Amounts payable | 17/49 | €365,228 | €361,033 | -€4,195 | -1.1% |
| Amounts payable within one year | 42/48 | €365,228 | €361,033 | -€4,195 | -1.1% |
| Trade debts | 44 | €11,876 | €3,180 | -€8,696 | -73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,112 | €59,656 | -€46,456 | -43.8% |
| Gross operating margin | 9900 | €1,437,251 | -€761,588 | -€2.2m | |
| Operating profit (loss) | 9901 | €1,320,539 | €118,272 | -€1.2m | -91.0% |
| Recurring financial income | 75 | €23,716 | €66,623 | +€42,907 | +181% |
| Recurring financial charges | 65 | €48,010 | €8,690 | -€39,320 | -81.9% |
| Profit (loss) for the period before taxes | 9903 | €1,296,245 | €176,205 | -€1.1m | -86.4% |
| Income taxes | 67/77 | €420,505 | €53,494 | -€367,011 | -87.3% |
| Profit (loss) for the period | 9904 | €875,740 | €122,710 | -€753,030 | -86.0% |
| Profit (loss) for the period to be appropriated | 9905 | €875,740 | €122,710 | -€753,030 | -86.0% |
Source: filed annual accounts (NBB), financial years ended 27 February 2014 and 28 February 2015. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.