TIBOCON: 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.
TIBOCON
Largest movements
- Financial fixed assets +€25,000
new in 2025: €25,000
- Receivables within one year +€21,766
up €21,766 (+141.2%), from €15,416 to €37,182
of which Trade receivables: +€18,513
- Cash -€17,672
down €17,672 (-4.4%), from €400,434 to €382,762
mainly Contributions, distributions and other (-€300,833) and Investment in fixed assets (net) (-€29,871)
- Tangible fixed assets -€7,099
down €7,099 (-42.2%), from €16,828 to €9,729
of which Furniture and vehicles: -€11,237
- Other debts +€252,884
up €252,884 (+2565.2%), from €9,858 to €262,742
- Reserves -€240,887
down €240,887 (-59.1%), from €407,711 to €166,824
- Accrued charges and deferred income +€5,279
up €5,279 (+951.8%), from €555 to €5,834
- Gross operating margin -€11,195
down €11,195 (-10.2%), from €109,769 to €98,574
- Financial charges +€7,664
up €7,664 (+783.4%), from €978 to €8,643
- Taxes -€3,253
down €3,253 (-16.4%), from €19,884 to €16,631
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 | €436,561 | €456,226 | +€19,665 | +4.5% |
| Fixed assets | 21/28 | €16,828 | €34,729 | +€17,901 | +106.4% |
| Tangible fixed assets | 22/27 | €16,828 | €9,729 | -€7,099 | -42.2% |
| Land and buildings | 22 | €2,147 | €4,559 | +€2,412 | +112.3% |
| Plant, machinery and equipment | 23 | - | €1,726 | +€1,726 | |
| Furniture and vehicles | 24 | €14,681 | €3,444 | -€11,237 | -76.5% |
| Financial fixed assets | 28 | - | €25,000 | +€25,000 | |
| Current assets | 29/58 | €419,732 | €421,496 | +€1,764 | +0.4% |
| Amounts receivable within one year | 40/41 | €15,416 | €37,182 | +€21,766 | +141.2% |
| Trade receivables | 40 | €15,300 | €33,813 | +€18,513 | +121.0% |
| Other amounts receivable | 41 | €116 | €3,369 | +€3,253 | +2812.7% |
| Cash at bank and in hand | 54/58 | €400,434 | €382,762 | -€17,672 | -4.4% |
| Deferred charges and accrued income | 490/1 | €3,883 | €1,552 | -€2,330 | -60.0% |
| Total equity and liabilities | 10/49 | €436,561 | €456,226 | +€19,665 | +4.5% |
| Equity | 10/15 | €417,711 | €176,824 | -€240,887 | -57.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €407,711 | €166,824 | -€240,887 | -59.1% |
| Distributable reserves | 133 | €407,711 | €166,824 | -€240,887 | -59.1% |
| Amounts payable | 17/49 | €18,850 | €279,402 | +€260,552 | +1382.3% |
| Amounts payable within one year | 42/48 | €18,295 | €273,568 | +€255,273 | +1395.3% |
| Trade debts | 44 | €2,345 | €1,745 | -€599 | -25.6% |
| Suppliers | 440/4 | €2,345 | €1,745 | -€599 | -25.6% |
| Taxes, remuneration and social security | 45 | €6,092 | €9,080 | +€2,988 | +49.0% |
| Taxes | 450/3 | €5,855 | €6,330 | +€476 | +8.1% |
| Remuneration and social security | 454/9 | €238 | €2,750 | +€2,512 | +1056.9% |
| Other amounts payable | 47/48 | €9,858 | €262,742 | +€252,884 | +2565.2% |
| Accrued charges and deferred income | 492/3 | €555 | €5,834 | +€5,279 | +951.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,327 | €11,970 | -€357 | -2.9% |
| Other operating charges | 640/8 | €529 | €1,388 | +€860 | +162.6% |
| Gross operating margin | 9900 | €109,769 | €98,574 | -€11,195 | -10.2% |
| Operating profit (loss) | 9901 | €96,913 | €85,216 | -€11,698 | -12.1% |
| Financial income | 75/76B | - | €4 | +€4 | |
| Recurring financial income | 75 | - | €4 | +€4 | |
| Financial charges | 65/66B | €978 | €8,643 | +€7,664 | +783.4% |
| Recurring financial charges | 65 | €978 | €8,643 | +€7,664 | +783.4% |
| Profit (loss) for the period before taxes | 9903 | €95,935 | €76,577 | -€19,358 | -20.2% |
| Income taxes | 67/77 | €19,884 | €16,631 | -€3,253 | -16.4% |
| Profit (loss) for the period | 9904 | €76,051 | €59,946 | -€16,105 | -21.2% |
| Profit (loss) for the period to be appropriated | 9905 | €76,051 | €59,946 | -€16,105 | -21.2% |
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 30 September 2026 via checked.be.