TIELT PAINT: 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.
TIELT PAINT
Largest movements
- Cash +€29,761
up €29,761 (+19.8%), from €150,582 to €180,343
mainly Tax, wage and social debts (+€12,470) and Net result for the year (+€12,108)
- Stocks and contracts -€7,684
down €7,684 (-9.9%), from €77,666 to €69,982
- Tax, wage and social debts +€12,470
up €12,470 (+48.9%), from €25,507 to €37,977
of which Remuneration and social security: +€11,212
- Trade debts +€9,777
up €9,777 (+32.1%), from €30,438 to €40,215
- Reserves +€7,108
up €7,108 (+12.0%), from €59,232 to €66,340
- Staff costs +€28,351
up €28,351 (+16.7%), from €169,887 to €198,238
- Gross operating margin +€8,251
up €8,251 (+3.9%), from €210,038 to €218,289
- Depreciation -€4,699
down €4,699 (-91.1%), from €5,161 to €462
- Taxes -€3,984
down €3,984 (-45.2%), from €8,811 to €4,828
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 | €380,790 | €406,329 | +€25,539 | +6.7% |
| Fixed assets | 21/28 | €2,306 | €4,037 | +€1,731 | +75.1% |
| Tangible fixed assets | 22/27 | €2,306 | €4,037 | +€1,731 | +75.1% |
| Plant, machinery and equipment | 23 | €2,306 | €4,037 | +€1,731 | +75.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €378,484 | €402,292 | +€23,807 | +6.3% |
| Stocks and contracts in progress | 3 | €77,666 | €69,982 | -€7,684 | -9.9% |
| Stocks | 30/36 | €77,666 | €69,982 | -€7,684 | -9.9% |
| Amounts receivable within one year | 40/41 | €49,366 | €48,593 | -€773 | -1.6% |
| Trade receivables | 40 | €49,366 | €30,336 | -€19,031 | -38.5% |
| Other amounts receivable | 41 | €0 | €18,258 | +€18,258 | |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €150,582 | €180,343 | +€29,761 | +19.8% |
| Deferred charges and accrued income | 490/1 | €870 | €3,373 | +€2,504 | +288% |
| Total equity and liabilities | 10/49 | €380,790 | €406,329 | +€25,539 | +6.7% |
| Equity | 10/15 | €184,232 | €191,340 | +€7,108 | +3.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €59,232 | €66,340 | +€7,108 | +12.0% |
| Distributable reserves | 133 | €59,232 | €66,340 | +€7,108 | +12.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €196,558 | €214,989 | +€18,431 | +9.4% |
| Amounts payable within one year | 42/48 | €196,558 | €214,989 | +€18,431 | +9.4% |
| Trade debts | 44 | €30,438 | €40,215 | +€9,777 | +32.1% |
| Suppliers | 440/4 | €30,438 | €40,215 | +€9,777 | +32.1% |
| Taxes, remuneration and social security | 45 | €25,507 | €37,977 | +€12,470 | +48.9% |
| Taxes | 450/3 | €5,959 | €7,217 | +€1,258 | +21.1% |
| Remuneration and social security | 454/9 | €19,548 | €30,760 | +€11,212 | +57.4% |
| Other amounts payable | 47/48 | €140,612 | €136,797 | -€3,815 | -2.7% |
| Non-recurring operating income | 76A | €1,555 | €1,211 | -€344 | -22.1% |
| Remuneration, social security and pensions | 62 | €169,887 | €198,238 | +€28,351 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,161 | €462 | -€4,699 | -91.1% |
| Other operating charges | 640/8 | €1,470 | €1,256 | -€213 | -14.5% |
| Non-recurring operating charges | 66A | €72 | €2,731 | +€2,659 | +3,693% |
| Gross operating margin | 9900 | €210,038 | €218,289 | +€8,251 | +3.9% |
| Operating profit (loss) | 9901 | €33,448 | €15,602 | -€17,847 | -53.4% |
| Financial income | 75/76B | €9,477 | €10,323 | +€846 | +8.9% |
| Recurring financial income | 75 | €9,477 | €10,323 | +€846 | +8.9% |
| Financial charges | 65/66B | €7,354 | €8,989 | +€1,635 | +22.2% |
| Recurring financial charges | 65 | €7,354 | €8,989 | +€1,635 | +22.2% |
| Profit (loss) for the period before taxes | 9903 | €35,572 | €16,936 | -€18,636 | -52.4% |
| Income taxes | 67/77 | €8,811 | €4,828 | -€3,984 | -45.2% |
| Profit (loss) for the period | 9904 | €26,761 | €12,108 | -€14,653 | -54.8% |
| Profit (loss) for the period to be appropriated | 9905 | €26,761 | €12,108 | -€14,653 | -54.8% |
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 26 October 2026 via checked.be.