TIBO: 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.
TIBO
Largest movements
- Receivables within one year -€232,052
down €232,052 (-35.1%), from €661,481 to €429,429
of which Other amounts receivable: -€232,694
- Cash +€106,209
up €106,209 (+15.1%), from €701,643 to €807,852
mainly Receivables within one year (+€232,052) and Depreciation (+€67,827)
- Tangible fixed assets -€67,027
down €67,027 (-7.2%), from €924,858 to €857,830
of which Land and buildings: -€44,732
- Deferred charges and accrued income -€29,497
down €29,497 (-100.0%), from €29,497 to €0
- Reserves -€164,824
down €164,824 (-32.9%), from €500,991 to €336,167
- Debts after one year -€64,925
down €64,925 (-6.3%), from €1.0m to €966,397
- Other debts -€34,652
down €34,652 (-6.8%), from €505,918 to €471,266
- Accrued charges and deferred income +€34,650
new in 2025: €34,650
- Other operating charges +€157,092
up €157,092 (+3620.8%), from €4,339 to €161,431
- Financial income +€77,596
up €77,596 (+6387.6%), from €1,215 to €78,811
- Gross operating margin +€64,125
up €64,125, from -€20,526 to €43,599
- Depreciation +€16,229
up €16,229 (+31.5%), from €51,599 to €67,827
- Financial charges +€14,029
up €14,029 (+32.3%), from €43,435 to €57,464
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 | €2,570,917 | €2,331,853 | -€239,064 | -9.3% |
| Fixed assets | 21/28 | €954,907 | €887,880 | -€67,027 | -7.0% |
| Tangible fixed assets | 22/27 | €924,858 | €857,830 | -€67,027 | -7.2% |
| Land and buildings | 22 | €813,362 | €768,630 | -€44,732 | -5.5% |
| Plant, machinery and equipment | 23 | €11,575 | €9,181 | -€2,395 | -20.7% |
| Furniture and vehicles | 24 | €23,660 | €15,124 | -€8,537 | -36.1% |
| Other tangible fixed assets | 26 | €50,338 | €38,974 | -€11,364 | -22.6% |
| Assets under construction and advance payments | 27 | €25,922 | €25,922 | = | 0.0% |
| Financial fixed assets | 28 | €30,050 | €30,050 | = | 0.0% |
| Current assets | 29/58 | €1,616,010 | €1,443,973 | -€172,037 | -10.6% |
| Stocks and contracts in progress | 3 | €223,388 | €206,692 | -€16,696 | -7.5% |
| Stocks | 30/36 | €223,388 | €206,692 | -€16,696 | -7.5% |
| Amounts receivable within one year | 40/41 | €661,481 | €429,429 | -€232,052 | -35.1% |
| Trade receivables | 40 | €79,500 | €80,141 | +€641 | +0.8% |
| Other amounts receivable | 41 | €581,981 | €349,288 | -€232,694 | -40.0% |
| Cash at bank and in hand | 54/58 | €701,643 | €807,852 | +€106,209 | +15.1% |
| Deferred charges and accrued income | 490/1 | €29,497 | €0 | -€29,497 | -100.0% |
| Total equity and liabilities | 10/49 | €2,570,917 | €2,331,853 | -€239,064 | -9.3% |
| Equity | 10/15 | €519,591 | €354,767 | -€164,824 | -31.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €500,991 | €336,167 | -€164,824 | -32.9% |
| Distributable reserves | 133 | €500,991 | €336,167 | -€164,824 | -32.9% |
| Amounts payable | 17/49 | €2,051,326 | €1,977,086 | -€74,240 | -3.6% |
| Amounts payable after more than one year | 17 | €1,031,323 | €966,397 | -€64,925 | -6.3% |
| Financial debts | 170/4 | €1,031,323 | €966,397 | -€64,925 | -6.3% |
| Amounts payable within one year | 42/48 | €1,020,004 | €976,039 | -€43,965 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €72,150 | €64,925 | -€7,224 | -10.0% |
| Financial debts | 43 | €429,600 | €429,600 | = | 0.0% |
| Credit institutions | 430/8 | €429,600 | €429,600 | = | 0.0% |
| Trade debts | 44 | €10,637 | €8,868 | -€1,769 | -16.6% |
| Suppliers | 440/4 | €10,637 | €8,868 | -€1,769 | -16.6% |
| Taxes, remuneration and social security | 45 | €1,699 | €1,379 | -€320 | -18.8% |
| Taxes | 450/3 | €1,699 | €1,379 | -€320 | -18.8% |
| Other amounts payable | 47/48 | €505,918 | €471,266 | -€34,652 | -6.8% |
| Accrued charges and deferred income | 492/3 | - | €34,650 | +€34,650 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,599 | €67,827 | +€16,229 | +31.5% |
| Other operating charges | 640/8 | €4,339 | €161,431 | +€157,092 | +3620.8% |
| Gross operating margin | 9900 | -€20,526 | €43,599 | +€64,125 | |
| Operating profit (loss) | 9901 | -€76,463 | -€185,659 | -€109,196 | -142.8% |
| Financial income | 75/76B | €1,215 | €78,811 | +€77,596 | +6387.6% |
| Recurring financial income | 75 | €1,215 | €78,811 | +€77,596 | +6387.6% |
| Financial charges | 65/66B | €43,435 | €57,464 | +€14,029 | +32.3% |
| Recurring financial charges | 65 | €43,435 | €57,464 | +€14,029 | +32.3% |
| Profit (loss) for the period before taxes | 9903 | -€118,684 | -€164,313 | -€45,629 | -38.4% |
| Income taxes | 67/77 | €520 | €511 | -€9 | -1.7% |
| Profit (loss) for the period | 9904 | -€119,204 | -€164,824 | -€45,620 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€119,204 | -€164,824 | -€45,620 | -38.3% |
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.