TICEO: 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.
TICEO
Largest movements
- Cash -€122,351
down €122,351 (-44.8%), from €273,175 to €150,824
mainly Contributions, distributions and other (-€88,235) and Other debts (-€81,922)
- Tangible fixed assets -€15,261
down €15,261 (-37.4%), from €40,796 to €25,535
of which Furniture and vehicles: -€15,036
- Receivables within one year +€5,052
up €5,052 (+16.6%), from €30,357 to €35,409
- Other debts -€81,922
down €81,922 (-51.2%), from €159,997 to €78,075
- Tax, wage and social debts -€27,550
down €27,550 (-53.6%), from €51,445 to €23,895
- Profit (loss) carried forward -€23,803
down €23,803 (-20.8%), from €114,426 to €90,623
- Gross operating margin +€4,032
up €4,032 (+4.3%), from €94,337 to €98,369
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 | €347,030 | €214,739 | -€132,292 | -38.1% |
| Fixed assets | 21/28 | €40,796 | €25,535 | -€15,261 | -37.4% |
| Tangible fixed assets | 22/27 | €40,796 | €25,535 | -€15,261 | -37.4% |
| Furniture and vehicles | 24 | €40,346 | €25,310 | -€15,036 | -37.3% |
| Other tangible fixed assets | 26 | €450 | €225 | -€225 | -50.0% |
| Current assets | 29/58 | €306,234 | €189,203 | -€117,031 | -38.2% |
| Amounts receivable within one year | 40/41 | €30,357 | €35,409 | +€5,052 | +16.6% |
| Trade receivables | 40 | €30,357 | €35,409 | +€5,052 | +16.6% |
| Cash at bank and in hand | 54/58 | €273,175 | €150,824 | -€122,351 | -44.8% |
| Deferred charges and accrued income | 490/1 | €2,702 | €2,970 | +€268 | +9.9% |
| Total equity and liabilities | 10/49 | €347,030 | €214,739 | -€132,292 | -38.1% |
| Equity | 10/15 | €134,886 | €111,083 | -€23,803 | -17.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,426 | €90,623 | -€23,803 | -20.8% |
| Amounts payable | 17/49 | €212,144 | €103,656 | -€108,488 | -51.1% |
| Amounts payable within one year | 42/48 | €212,144 | €103,656 | -€108,488 | -51.1% |
| Financial debts | 43 | €106 | €90 | -€16 | -14.9% |
| Credit institutions | 430/8 | €106 | €90 | -€16 | -14.9% |
| Trade debts | 44 | €597 | €1,596 | +€999 | +167% |
| Suppliers | 440/4 | €597 | €1,596 | +€999 | +167% |
| Taxes, remuneration and social security | 45 | €51,445 | €23,895 | -€27,550 | -53.6% |
| Taxes | 450/3 | €51,445 | €23,895 | -€27,550 | -53.6% |
| Other amounts payable | 47/48 | €159,997 | €78,075 | -€81,922 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,964 | €15,261 | -€704 | -4.4% |
| Other operating charges | 640/8 | €566 | €965 | +€400 | +70.6% |
| Gross operating margin | 9900 | €94,337 | €98,369 | +€4,032 | +4.3% |
| Operating profit (loss) | 9901 | €77,807 | €82,143 | +€4,336 | +5.6% |
| Financial charges | 65/66B | €340 | €567 | +€227 | +66.8% |
| Recurring financial charges | 65 | €340 | €567 | +€227 | +66.8% |
| Profit (loss) for the period before taxes | 9903 | €77,467 | €81,575 | +€4,109 | +5.3% |
| Income taxes | 67/77 | €17,381 | €17,143 | -€238 | -1.4% |
| Profit (loss) for the period | 9904 | €60,086 | €64,432 | +€4,346 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,086 | €64,432 | +€4,346 | +7.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.