TIERIMMO: 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.
What changed
TIERIMMO
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4,766
2024 · €261,317-€256,551
Equity
€524,480
2024 · €519,714+€4,766
Cash
€14,413
2024 · €2,802+€11,611
Balance sheet total
€912,219
2024 · €1.2m-€267,962
Largest movements
Assets
- Receivables within one year -€358,125
down €358,125 (-98.1%), from €365,209 to €7,084
of which Trade receivables: -€365,000
- Current investments +€93,025
up €93,025 (+8911.6%), from €1,044 to €94,069
- Tangible fixed assets -€14,432
down €14,432 (-1.8%), from €808,882 to €794,450
of which Land and buildings: -€13,753
Equity and liabilities
- Other debts -€205,100
down €205,100 (-64.5%), from €318,218 to €113,118
- Debts after one year -€44,097
down €44,097 (-33.4%), from €131,920 to €87,823
- Current portion of long-term debt -€17,882
down €17,882 (-35.0%), from €51,128 to €33,246
Income statement
- Gross operating margin -€388,857
down €388,857 (-88.1%), from €441,476 to €52,619
- Taxes -€129,703
down €129,703 (-97.2%), from €133,414 to €3,711
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.
Result 2024
€261,317
Gross operating margin
-€388,857
Depreciation
+€1,252
Other operating charges
+€318
Financial income
+€20
Financial charges
+€1,013
Taxes
+€129,703
Result 2025
€4,766
Cash bridge derived
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.
From operations
+€184,825
Investment
-€111,195
Financing
-€62,019
Cash 2024
€2,802
From operations (derived)
+€184,825
Net result for the year
+€4,766
Depreciation
+€32,602
Receivables within one year
+€358,125
Smaller working-capital items
-€100
Provisions
-€1,064
Trade debts
-€3,211
Tax, wage and social debts
-€1,194
Other debts
-€205,100
Investment (derived)
-€111,195
Investment in fixed assets (net)
-€18,170
Current investments
-€93,025
Financing
-€62,019
Debts after one year
-€44,097
Current portion of long-term debt
-€17,882
Short-term financial debts
-€39
Cash 2025
€14,413
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,180,181 | €912,219 | -€267,962 | -22.7% |
| Fixed assets | 21/28 | €808,882 | €794,450 | -€14,432 | -1.8% |
| Tangible fixed assets | 22/27 | €808,882 | €794,450 | -€14,432 | -1.8% |
| Land and buildings | 22 | €394,196 | €380,443 | -€13,753 | -3.5% |
| Plant, machinery and equipment | 23 | €3,866 | €3,188 | -€679 | -17.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €410,820 | €410,820 | = | 0.0% |
| Current assets | 29/58 | €371,299 | €117,769 | -€253,530 | -68.3% |
| Amounts receivable within one year | 40/41 | €365,209 | €7,084 | -€358,125 | -98.1% |
| Trade receivables | 40 | €365,000 | €0 | -€365,000 | -100.0% |
| Other amounts receivable | 41 | €209 | €7,084 | +€6,875 | +3289.8% |
| Current investments | 50/53 | €1,044 | €94,069 | +€93,025 | +8911.6% |
| Cash at bank and in hand | 54/58 | €2,802 | €14,413 | +€11,611 | +414.4% |
| Deferred charges and accrued income | 490/1 | €2,245 | €2,203 | -€41 | -1.8% |
| Total equity and liabilities | 10/49 | €1,180,181 | €912,219 | -€267,962 | -22.7% |
| Equity | 10/15 | €519,714 | €524,480 | +€4,766 | +0.9% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €413,202 | €417,968 | +€4,766 | +1.2% |
| Tax-exempt reserves | 132 | €87,288 | €84,094 | -€3,193 | -3.7% |
| Distributable reserves | 133 | €325,914 | €333,874 | +€7,960 | +2.4% |
| Profit (loss) carried forward | 14 | €7,354 | €7,354 | = | 0.0% |
| Provisions and deferred taxes | 16 | €29,096 | €28,031 | -€1,064 | -3.7% |
| Deferred taxes | 168 | €29,096 | €28,031 | -€1,064 | -3.7% |
| Amounts payable | 17/49 | €631,372 | €359,708 | -€271,664 | -43.0% |
| Amounts payable after more than one year | 17 | €131,920 | €87,823 | -€44,097 | -33.4% |
| Financial debts | 170/4 | €131,920 | €87,823 | -€44,097 | -33.4% |
| Amounts payable within one year | 42/48 | €499,302 | €271,876 | -€227,426 | -45.5% |
| Current portion of amounts payable after more than one year | 42 | €51,128 | €33,246 | -€17,882 | -35.0% |
| Financial debts | 43 | €4,487 | €4,448 | -€39 | -0.9% |
| Credit institutions | 430/8 | €4,487 | €4,448 | -€39 | -0.9% |
| Trade debts | 44 | €9,084 | €5,874 | -€3,211 | -35.3% |
| Suppliers | 440/4 | €9,084 | €5,874 | -€3,211 | -35.3% |
| Taxes, remuneration and social security | 45 | €116,384 | €115,190 | -€1,194 | -1.0% |
| Taxes | 450/3 | €116,384 | €115,190 | -€1,194 | -1.0% |
| Other amounts payable | 47/48 | €318,218 | €113,118 | -€205,100 | -64.5% |
| Accrued charges and deferred income | 492/3 | €150 | €9 | -€141 | -94.0% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,854 | €32,602 | -€1,252 | -3.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €9,340 | €9,022 | -€318 | -3.4% |
| Gross operating margin | 9900 | €441,476 | €52,619 | -€388,857 | -88.1% |
| Operating profit (loss) | 9901 | €398,282 | €10,995 | -€387,287 | -97.2% |
| Financial income | 75/76B | €60 | €81 | +€20 | +33.5% |
| Recurring financial income | 75 | €60 | €81 | +€20 | +33.5% |
| Financial charges | 65/66B | €4,675 | €3,662 | -€1,013 | -21.7% |
| Recurring financial charges | 65 | €4,675 | €3,662 | -€1,013 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | €393,667 | €7,413 | -€386,254 | -98.1% |
| Transfer from deferred taxes | 780 | €1,064 | €1,064 | = | 0.0% |
| Income taxes | 67/77 | €133,414 | €3,711 | -€129,703 | -97.2% |
| Profit (loss) for the period | 9904 | €261,317 | €4,766 | -€256,551 | -98.2% |
| Transfer from tax-exempt reserves | 789 | €3,193 | €3,193 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €264,511 | €7,960 | -€256,551 | -97.0% |
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 11 October 2026 via checked.be.