TIELEX: 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.
TIELEX
Largest movements
- Tangible fixed assets +€32,732
new in 2024: €32,732
- Cash +€27,413
up €27,413 (+11.3%), from €242,252 to €269,664
mainly Net result for the year (+€52,742) and Tax, wage and social debts (+€10,670)
- Receivables within one year +€5,122
up €5,122 (+12.3%), from €41,480 to €46,602
of which Trade receivables: +€13,086
- Reserves +€52,742
up €52,742 (+57.1%), from €92,320 to €145,062
of which Distributable reserves: +€52,742
- Tax, wage and social debts +€10,670
up €10,670 (+34.3%), from €31,085 to €41,755
of which Remuneration and social security: +€12,414
- Trade debts -€6,224
down €6,224 (-39.5%), from €15,760 to €9,536
- Staff costs +€11,613
up €11,613 (+23.3%), from €49,936 to €61,549
- Taxes +€7,690
up €7,690 (+42.3%), from €18,196 to €25,886
- Gross operating margin -€6,757
down €6,757 (-4.6%), from €147,748 to €140,992
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €389,816 | €451,698 | +€61,882 | +15.9% |
| Fixed assets | 21/28 | - | €32,732 | +€32,732 | |
| Tangible fixed assets | 22/27 | - | €32,732 | +€32,732 | |
| Furniture and vehicles | 24 | - | €32,732 | +€32,732 | |
| Current assets | 29/58 | €389,816 | €418,966 | +€29,150 | +7.5% |
| Amounts receivable within one year | 40/41 | €41,480 | €46,602 | +€5,122 | +12.3% |
| Trade receivables | 40 | €31,274 | €44,360 | +€13,086 | +41.8% |
| Other amounts receivable | 41 | €10,205 | €2,242 | -€7,964 | -78.0% |
| Current investments | 50/53 | €100,029 | €100,560 | +€531 | +0.5% |
| Cash at bank and in hand | 54/58 | €242,252 | €269,664 | +€27,413 | +11.3% |
| Deferred charges and accrued income | 490/1 | €6,056 | €2,140 | -€3,916 | -64.7% |
| Total equity and liabilities | 10/49 | €389,816 | €451,698 | +€61,882 | +15.9% |
| Equity | 10/15 | €339,996 | €392,738 | +€52,742 | +15.5% |
| Contributions | 10/11 | €95,092 | €95,092 | = | 0.0% |
| Reserves | 13 | €92,320 | €145,062 | +€52,742 | +57.1% |
| Tax-exempt reserves | 132 | €13,288 | €13,288 | = | 0.0% |
| Distributable reserves | 133 | €79,032 | €131,774 | +€52,742 | +66.7% |
| Profit (loss) carried forward | 14 | €152,584 | €152,584 | = | 0.0% |
| Amounts payable | 17/49 | €49,820 | €58,960 | +€9,141 | +18.3% |
| Amounts payable within one year | 42/48 | €49,820 | €58,960 | +€9,141 | +18.3% |
| Financial debts | 43 | - | €260 | +€260 | |
| Credit institutions | 430/8 | - | €260 | +€260 | |
| Trade debts | 44 | €15,760 | €9,536 | -€6,224 | -39.5% |
| Suppliers | 440/4 | €15,760 | €9,536 | -€6,224 | -39.5% |
| Taxes, remuneration and social security | 45 | €31,085 | €41,755 | +€10,670 | +34.3% |
| Taxes | 450/3 | €20,156 | €18,412 | -€1,744 | -8.7% |
| Remuneration and social security | 454/9 | €10,929 | €23,343 | +€12,414 | +113.6% |
| Other amounts payable | 47/48 | €2,975 | €7,409 | +€4,434 | +149.1% |
| Remuneration, social security and pensions | 62 | €49,936 | €61,549 | +€11,613 | +23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €529 | +€529 | |
| Other operating charges | 640/8 | €1,221 | €981 | -€240 | -19.7% |
| Gross operating margin | 9900 | €147,748 | €140,992 | -€6,757 | -4.6% |
| Operating profit (loss) | 9901 | €96,591 | €77,933 | -€18,658 | -19.3% |
| Financial income | 75/76B | €713 | €902 | +€189 | +26.5% |
| Recurring financial income | 75 | €713 | €902 | +€189 | +26.5% |
| Financial charges | 65/66B | €160 | €207 | +€47 | +29.2% |
| Recurring financial charges | 65 | €160 | €207 | +€47 | +29.2% |
| Profit (loss) for the period before taxes | 9903 | €97,143 | €78,628 | -€18,516 | -19.1% |
| Income taxes | 67/77 | €18,196 | €25,886 | +€7,690 | +42.3% |
| Profit (loss) for the period | 9904 | €78,947 | €52,742 | -€26,206 | -33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €78,947 | €52,742 | -€26,206 | -33.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.