TIBORED: 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.
TIBORED
Largest movements
- Cash -€108,463
down €108,463 (-92.8%), from €116,824 to €8,361
mainly Contributions, distributions and other (-€175,500) and Tax, wage and social debts (-€57,219)
- Receivables within one year -€19,466
down €19,466 (-5.8%), from €336,076 to €316,610
of which Trade receivables: -€29,336
- Tangible fixed assets -€15,500
down €15,500 (-6.1%), from €252,345 to €236,846
of which Land and buildings: -€14,993
- Reserves -€158,000
down €158,000 (-37.2%), from €424,935 to €266,935
of which Distributable reserves: -€158,000
- Other debts +€84,000
up €84,000 (+91.8%), from €91,500 to €175,500
- Tax, wage and social debts -€57,219
down €57,219 (-84.4%), from €67,832 to €10,613
- Trade debts -€13,281
down €13,281 (-52.8%), from €25,170 to €11,888
- Accrued charges and deferred income +€12,137
up €12,137 (+3781.9%), from €321 to €12,458
- Gross operating margin +€84,782
up €84,782, from -€527 to €84,255
- Taxes +€19,752
up €19,752, from -€16,553 to €3,199
- Depreciation -€4,167
down €4,167 (-19.9%), from €20,927 to €16,760
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 | €769,729 | €627,164 | -€142,565 | -18.5% |
| Fixed assets | 21/28 | €257,478 | €241,978 | -€15,500 | -6.0% |
| Tangible fixed assets | 22/27 | €252,345 | €236,846 | -€15,500 | -6.1% |
| Land and buildings | 22 | €250,160 | €235,167 | -€14,993 | -6.0% |
| Plant, machinery and equipment | 23 | €1,713 | €1,679 | -€34 | -2.0% |
| Furniture and vehicles | 24 | €473 | - | -€473 | |
| Financial fixed assets | 28 | €5,133 | €5,133 | = | 0.0% |
| Current assets | 29/58 | €512,251 | €385,186 | -€127,065 | -24.8% |
| Amounts receivable within one year | 40/41 | €336,076 | €316,610 | -€19,466 | -5.8% |
| Trade receivables | 40 | €46,143 | €16,808 | -€29,336 | -63.6% |
| Other amounts receivable | 41 | €289,932 | €299,803 | +€9,870 | +3.4% |
| Current investments | 50/53 | €22,500 | €30,000 | +€7,500 | +33.3% |
| Cash at bank and in hand | 54/58 | €116,824 | €8,361 | -€108,463 | -92.8% |
| Deferred charges and accrued income | 490/1 | €36,851 | €30,214 | -€6,637 | -18.0% |
| Total equity and liabilities | 10/49 | €769,729 | €627,164 | -€142,565 | -18.5% |
| Equity | 10/15 | €520,220 | €362,412 | -€157,808 | -30.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €424,935 | €266,935 | -€158,000 | -37.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €423,075 | €265,075 | -€158,000 | -37.3% |
| Profit (loss) carried forward | 14 | €89,085 | €89,277 | +€192 | +0.2% |
| Amounts payable | 17/49 | €249,509 | €264,752 | +€15,243 | +6.1% |
| Amounts payable after more than one year | 17 | €54,294 | €43,687 | -€10,607 | -19.5% |
| Financial debts | 170/4 | €54,294 | €43,687 | -€10,607 | -19.5% |
| Amounts payable within one year | 42/48 | €194,895 | €208,608 | +€13,713 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €10,393 | €10,607 | +€214 | +2.1% |
| Trade debts | 44 | €25,170 | €11,888 | -€13,281 | -52.8% |
| Suppliers | 440/4 | €25,170 | €11,888 | -€13,281 | -52.8% |
| Taxes, remuneration and social security | 45 | €67,832 | €10,613 | -€57,219 | -84.4% |
| Taxes | 450/3 | €67,832 | €10,613 | -€57,219 | -84.4% |
| Other amounts payable | 47/48 | €91,500 | €175,500 | +€84,000 | +91.8% |
| Accrued charges and deferred income | 492/3 | €321 | €12,458 | +€12,137 | +3781.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,927 | €16,760 | -€4,167 | -19.9% |
| Other operating charges | 640/8 | €5,182 | €4,636 | -€546 | -10.5% |
| Non-recurring operating charges | 66A | €1,710 | €39,631 | +€37,921 | +2217.6% |
| Gross operating margin | 9900 | -€527 | €84,255 | +€84,782 | |
| Operating profit (loss) | 9901 | -€28,346 | €23,228 | +€51,574 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €2,679 | €2,337 | -€342 | -12.8% |
| Recurring financial charges | 65 | €2,679 | €2,337 | -€342 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,020 | €20,891 | +€51,911 | |
| Income taxes | 67/77 | -€16,553 | €3,199 | +€19,752 | |
| Profit (loss) for the period | 9904 | -€14,467 | €17,692 | +€32,159 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,467 | €17,692 | +€32,159 |
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 7 October 2026 via checked.be.