TIBURON: 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.
TIBURON
Largest movements
- Receivables within one year -€62,450
no longer reported in 2025 (was €62,450)
- Tangible fixed assets -€9,293
down €9,293 (-2.4%), from €388,988 to €379,695
- Other debts +€86,852
up €86,852 (+10.9%), from €797,420 to €884,272
- Profit (loss) carried forward -€73,830
down €73,830 (-10.9%), from -€679,973 to -€753,804
- Current portion of long-term debt -€40,299
down €40,299 (-51.5%), from €78,286 to €37,987
- Debts after one year -€37,987
down €37,987 (-21.3%), from €178,701 to €140,714
- Short-term financial debts -€12,339
down €12,339 (-8.4%), from €146,478 to €134,139
- Gross operating margin -€67,250
down €67,250, from €37,342 to -€29,908
- Financial charges -€12,016
down €12,016 (-25.6%), from €46,913 to €34,897
- Other operating charges -€9,179
down €9,179 (-80.2%), from €11,452 to €2,273
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 | €594,342 | €517,053 | -€77,290 | -13.0% |
| Fixed assets | 21/28 | €388,988 | €379,695 | -€9,293 | -2.4% |
| Tangible fixed assets | 22/27 | €388,988 | €379,695 | -€9,293 | -2.4% |
| Land and buildings | 22 | €388,988 | €379,695 | -€9,293 | -2.4% |
| Current assets | 29/58 | €205,354 | €137,358 | -€67,996 | -33.1% |
| Stocks and contracts in progress | 3 | €136,739 | €136,739 | = | 0.0% |
| Stocks | 30/36 | €136,739 | €136,739 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €62,450 | - | -€62,450 | |
| Other amounts receivable | 41 | €62,450 | - | -€62,450 | |
| Cash at bank and in hand | 54/58 | €6,165 | €343 | -€5,822 | -94.4% |
| Deferred charges and accrued income | 490/1 | - | €276 | +€276 | |
| Total equity and liabilities | 10/49 | €594,342 | €517,053 | -€77,290 | -13.0% |
| Equity | 10/15 | -€608,272 | -€682,103 | -€73,830 | -12.1% |
| 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% |
| Reserves | 13 | €9,701 | €9,701 | = | 0.0% |
| Non-distributable reserves | 130/1 | €462 | €462 | = | 0.0% |
| Legal reserve | 130 | €462 | €462 | = | 0.0% |
| Distributable reserves | 133 | €9,239 | €9,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€679,973 | -€753,804 | -€73,830 | -10.9% |
| Amounts payable | 17/49 | €1,202,615 | €1,199,155 | -€3,459 | -0.3% |
| Amounts payable after more than one year | 17 | €178,701 | €140,714 | -€37,987 | -21.3% |
| Financial debts | 170/4 | €178,701 | €140,714 | -€37,987 | -21.3% |
| Amounts payable within one year | 42/48 | €1,023,914 | €1,058,442 | +€34,528 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €78,286 | €37,987 | -€40,299 | -51.5% |
| Financial debts | 43 | €146,478 | €134,139 | -€12,339 | -8.4% |
| Credit institutions | 430/8 | €146,478 | €134,139 | -€12,339 | -8.4% |
| Trade debts | 44 | €1,729 | €2,038 | +€309 | +17.8% |
| Suppliers | 440/4 | €1,729 | €2,038 | +€309 | +17.8% |
| Taxes, remuneration and social security | 45 | - | €6 | +€6 | |
| Taxes | 450/3 | - | €6 | +€6 | |
| Other amounts payable | 47/48 | €797,420 | €884,272 | +€86,852 | +10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,293 | €9,293 | = | 0.0% |
| Other operating charges | 640/8 | €11,452 | €2,273 | -€9,179 | -80.2% |
| Non-recurring operating charges | 66A | €8,000 | - | -€8,000 | |
| Gross operating margin | 9900 | €37,342 | -€29,908 | -€67,250 | |
| Operating profit (loss) | 9901 | €8,597 | -€41,474 | -€50,072 | |
| Financial income | 75/76B | €2,384 | €2,541 | +€157 | +6.6% |
| Recurring financial income | 75 | €2,384 | €2,541 | +€157 | +6.6% |
| Financial charges | 65/66B | €46,913 | €34,897 | -€12,016 | -25.6% |
| Recurring financial charges | 65 | €46,913 | €34,897 | -€12,016 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | -€35,931 | -€73,830 | -€37,899 | -105% |
| Profit (loss) for the period | 9904 | -€35,931 | -€73,830 | -€37,899 | -105% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,931 | -€73,830 | -€37,899 | -105% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.