TIEN TIEN: 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.
TIEN TIEN
Largest movements
- Cash -€25,323
down €25,323 (-11.6%), from €218,864 to €193,541
mainly Advances received (-€28,967) and Tax, wage and social debts (-€19,964)
- Receivables within one year +€10,899
up €10,899 (+43.5%), from €25,049 to €35,948
of which Trade receivables: +€21,292
- Tangible fixed assets -€7,741
down €7,741 (-2.2%), from €347,244 to €339,502
of which Land and buildings: -€8,182
- Reserves +€36,265
up €36,265 (+8.5%), from €428,630 to €464,895
of which Distributable reserves: +€37,845
- Advances received -€28,967
no longer reported in 2025 (was €28,967)
- Tax, wage and social debts -€19,964
down €19,964 (-39.3%), from €50,838 to €30,874
- Debts after one year -€9,788
down €9,788 (-27.2%), from €36,031 to €26,243
- Gross operating margin -€167,942
down €167,942 (-71.4%), from €235,148 to €67,206
- Taxes -€24,523
down €24,523 (-59.0%), from €41,592 to €17,068
- Depreciation -€20,296
down €20,296 (-66.0%), from €30,751 to €10,456
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 | €591,156 | €568,991 | -€22,165 | -3.7% |
| Fixed assets | 21/28 | €347,244 | €339,502 | -€7,741 | -2.2% |
| Tangible fixed assets | 22/27 | €347,244 | €339,502 | -€7,741 | -2.2% |
| Land and buildings | 22 | €342,500 | €334,318 | -€8,182 | -2.4% |
| Plant, machinery and equipment | 23 | €2,030 | €1,561 | -€468 | -23.1% |
| Furniture and vehicles | 24 | €2,714 | €3,623 | +€909 | +33.5% |
| Current assets | 29/58 | €243,913 | €229,489 | -€14,424 | -5.9% |
| Amounts receivable within one year | 40/41 | €25,049 | €35,948 | +€10,899 | +43.5% |
| Trade receivables | 40 | €1,109 | €22,401 | +€21,292 | +1,920% |
| Other amounts receivable | 41 | €23,940 | €13,547 | -€10,393 | -43.4% |
| Cash at bank and in hand | 54/58 | €218,864 | €193,541 | -€25,323 | -11.6% |
| Total equity and liabilities | 10/49 | €591,156 | €568,991 | -€22,165 | -3.7% |
| Equity | 10/15 | €447,180 | €483,445 | +€36,265 | +8.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €428,630 | €464,895 | +€36,265 | +8.5% |
| Tax-exempt reserves | 132 | €50,691 | €49,111 | -€1,580 | -3.1% |
| Distributable reserves | 133 | €377,939 | €415,783 | +€37,845 | +10.0% |
| Provisions and deferred taxes | 16 | €12,673 | €12,278 | -€395 | -3.1% |
| Deferred taxes | 168 | €12,673 | €12,278 | -€395 | -3.1% |
| Amounts payable | 17/49 | €131,303 | €73,269 | -€58,035 | -44.2% |
| Amounts payable after more than one year | 17 | €36,031 | €26,243 | -€9,788 | -27.2% |
| Financial debts | 170/4 | €36,031 | €26,243 | -€9,788 | -27.2% |
| Amounts payable within one year | 42/48 | €95,272 | €46,882 | -€48,390 | -50.8% |
| Current portion of amounts payable after more than one year | 42 | €9,407 | €9,788 | +€382 | +4.1% |
| Trade debts | 44 | €3,886 | €5,370 | +€1,484 | +38.2% |
| Suppliers | 440/4 | €3,886 | €5,370 | +€1,484 | +38.2% |
| Advances received on contracts in progress | 46 | €28,967 | - | -€28,967 | |
| Taxes, remuneration and social security | 45 | €50,838 | €30,874 | -€19,964 | -39.3% |
| Taxes | 450/3 | €50,838 | €30,874 | -€19,964 | -39.3% |
| Other amounts payable | 47/48 | €2,175 | €850 | -€1,325 | -60.9% |
| Accrued charges and deferred income | 492/3 | - | €144 | +€144 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,751 | €10,456 | -€20,296 | -66.0% |
| Other operating charges | 640/8 | €941 | €1,105 | +€164 | +17.5% |
| Gross operating margin | 9900 | €235,148 | €67,206 | -€167,942 | -71.4% |
| Operating profit (loss) | 9901 | €203,456 | €55,645 | -€147,811 | -72.7% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,659 | €1,858 | +€199 | +12.0% |
| Recurring financial charges | 65 | €1,659 | €1,858 | +€199 | +12.0% |
| Profit (loss) for the period before taxes | 9903 | €201,796 | €53,788 | -€148,008 | -73.3% |
| Transfer from deferred taxes | 780 | €362 | €395 | +€33 | +9.1% |
| Transfer to deferred taxes | 680 | €13,035 | - | -€13,035 | |
| Income taxes | 67/77 | €41,592 | €17,068 | -€24,523 | -59.0% |
| Profit (loss) for the period | 9904 | €147,532 | €37,115 | -€110,417 | -74.8% |
| Transfer from tax-exempt reserves | 789 | €1,448 | €1,580 | +€132 | +9.1% |
| Transfer to tax-exempt reserves | 689 | €52,139 | - | -€52,139 | |
| Profit (loss) for the period to be appropriated | 9905 | €96,841 | €38,695 | -€58,146 | -60.0% |
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 28 October 2026 via checked.be.