TICOR: 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.
TICOR
Largest movements
- Tangible fixed assets +€34,076
up €34,076 (+12.2%), from €280,237 to €314,313
of which Furniture and vehicles: +€43,266
- Receivables within one year +€4,012
new in 2025: €4,012
- Cash +€3,995
up €3,995 (+65.7%), from €6,081 to €10,076
mainly Debts after one year (+€82,173) and Depreciation (+€33,974)
- Debts after one year +€82,173
up €82,173 (+64.5%), from €127,377 to €209,550
of which Financial debts: +€81,873
- Other debts -€75,878
down €75,878 (-84.9%), from €89,359 to €13,481
- Profit (loss) carried forward +€25,196
up €25,196 (+64.3%), from €39,202 to €64,398
- Current portion of long-term debt +€8,224
up €8,224 (+76.3%), from €10,771 to €18,995
- Gross operating margin +€10,468
up €10,468 (+15.6%), from €67,102 to €77,570
- Depreciation +€9,317
up €9,317 (+37.8%), from €24,657 to €33,974
- Other operating charges -€3,564
down €3,564 (-74.1%), from €4,808 to €1,245
- Taxes -€2,489
down €2,489 (-16.3%), from €15,304 to €12,816
- Financial charges +€1,018
up €1,018 (+30.6%), from €3,330 to €4,348
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 | €286,414 | €330,870 | +€44,456 | +15.5% |
| Fixed assets | 21/28 | €280,333 | €314,559 | +€34,226 | +12.2% |
| Tangible fixed assets | 22/27 | €280,237 | €314,313 | +€34,076 | +12.2% |
| Land and buildings | 22 | €258,669 | €249,786 | -€8,883 | -3.4% |
| Plant, machinery and equipment | 23 | €741 | €434 | -€307 | -41.4% |
| Furniture and vehicles | 24 | €20,827 | €64,093 | +€43,266 | +208% |
| Financial fixed assets | 28 | €96 | €246 | +€150 | +156% |
| Current assets | 29/58 | €6,081 | €16,311 | +€10,230 | +168% |
| Amounts receivable within one year | 40/41 | - | €4,012 | +€4,012 | |
| Trade receivables | 40 | - | €4,012 | +€4,012 | |
| Cash at bank and in hand | 54/58 | €6,081 | €10,076 | +€3,995 | +65.7% |
| Deferred charges and accrued income | 490/1 | - | €2,223 | +€2,223 | |
| Total equity and liabilities | 10/49 | €286,414 | €330,870 | +€44,456 | +15.5% |
| Equity | 10/15 | €45,402 | €70,598 | +€25,196 | +55.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,202 | €64,398 | +€25,196 | +64.3% |
| Amounts payable | 17/49 | €241,012 | €260,272 | +€19,260 | +8.0% |
| Amounts payable after more than one year | 17 | €127,377 | €209,550 | +€82,173 | +64.5% |
| Financial debts | 170/4 | €126,211 | €208,085 | +€81,873 | +64.9% |
| Other amounts payable | 178/9 | €1,166 | €1,466 | +€300 | +25.7% |
| Amounts payable within one year | 42/48 | €113,635 | €50,722 | -€62,913 | -55.4% |
| Current portion of amounts payable after more than one year | 42 | €10,771 | €18,995 | +€8,224 | +76.3% |
| Trade debts | 44 | €5,376 | €7,580 | +€2,204 | +41.0% |
| Suppliers | 440/4 | €5,376 | €7,580 | +€2,204 | +41.0% |
| Taxes, remuneration and social security | 45 | €8,128 | €10,665 | +€2,537 | +31.2% |
| Taxes | 450/3 | €8,128 | €10,665 | +€2,537 | +31.2% |
| Other amounts payable | 47/48 | €89,359 | €13,481 | -€75,878 | -84.9% |
| Non-recurring operating income | 76A | €4,222 | - | -€4,222 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,657 | €33,974 | +€9,317 | +37.8% |
| Other operating charges | 640/8 | €4,808 | €1,245 | -€3,564 | -74.1% |
| Gross operating margin | 9900 | €67,102 | €77,570 | +€10,468 | +15.6% |
| Operating profit (loss) | 9901 | €37,636 | €42,351 | +€4,715 | +12.5% |
| Financial income | 75/76B | €24 | €9 | -€15 | -64.4% |
| Recurring financial income | 75 | €24 | €9 | -€15 | -64.4% |
| Financial charges | 65/66B | €3,330 | €4,348 | +€1,018 | +30.6% |
| Recurring financial charges | 65 | €3,330 | €4,348 | +€1,018 | +30.6% |
| Profit (loss) for the period before taxes | 9903 | €34,330 | €38,012 | +€3,682 | +10.7% |
| Income taxes | 67/77 | €15,304 | €12,816 | -€2,489 | -16.3% |
| Profit (loss) for the period | 9904 | €19,026 | €25,196 | +€6,170 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €19,026 | €25,196 | +€6,170 | +32.4% |
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 17 October 2026 via checked.be.