Tiffany's by Pascal: 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.
Tiffany's by Pascal
Largest movements
- Cash +€22,285
up €22,285 (+7.3%), from €304,170 to €326,455
mainly Net result for the year (+€78,935) and Depreciation (+€26,411)
- Tangible fixed assets -€20,691
down €20,691 (-23.3%), from €88,838 to €68,147
of which Land and buildings: -€16,021
- Receivables within one year +€10,207
new in 2025: €10,207
of which Other amounts receivable: +€9,882
- Tax, wage and social debts +€25,424
up €25,424 (+72.6%), from €35,035 to €60,459
of which Remuneration and social security: +€13,217
- Trade debts -€24,890
down €24,890 (-87.6%), from €28,417 to €3,527
- Other debts +€7,809
up €7,809 (+11.5%), from €67,864 to €75,673
- Gross operating margin -€37,096
down €37,096 (-17.8%), from €208,938 to €171,842
- Taxes -€18,027
down €18,027 (-46.2%), from €38,981 to €20,954
- Staff costs +€2,425
up €2,425 (+6.1%), from €39,901 to €42,326
- Depreciation +€2,383
up €2,383 (+9.9%), from €24,028 to €26,411
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 | €435,071 | €443,414 | +€8,343 | +1.9% |
| Fixed assets | 21/28 | €97,478 | €72,467 | -€25,011 | -25.7% |
| Intangible fixed assets | 21 | €8,640 | €4,320 | -€4,320 | -50.0% |
| Tangible fixed assets | 22/27 | €88,838 | €68,147 | -€20,691 | -23.3% |
| Land and buildings | 22 | €65,122 | €49,101 | -€16,021 | -24.6% |
| Plant, machinery and equipment | 23 | €19,715 | €16,286 | -€3,429 | -17.4% |
| Furniture and vehicles | 24 | €4,001 | €2,760 | -€1,241 | -31.0% |
| Current assets | 29/58 | €337,593 | €370,947 | +€33,354 | +9.9% |
| Stocks and contracts in progress | 3 | €32,290 | €32,930 | +€640 | +2.0% |
| Stocks | 30/36 | €32,290 | €32,930 | +€640 | +2.0% |
| Amounts receivable within one year | 40/41 | - | €10,207 | +€10,207 | |
| Trade receivables | 40 | - | €325 | +€325 | |
| Other amounts receivable | 41 | - | €9,882 | +€9,882 | |
| Cash at bank and in hand | 54/58 | €304,170 | €326,455 | +€22,285 | +7.3% |
| Deferred charges and accrued income | 490/1 | €1,133 | €1,355 | +€222 | +19.6% |
| Total equity and liabilities | 10/49 | €435,071 | €443,414 | +€8,343 | +1.9% |
| Equity | 10/15 | €303,755 | €303,755 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €298,755 | €298,755 | = | 0.0% |
| Distributable reserves | 133 | €298,755 | €298,755 | = | 0.0% |
| Amounts payable | 17/49 | €131,316 | €139,659 | +€8,343 | +6.4% |
| Amounts payable within one year | 42/48 | €131,316 | €139,659 | +€8,343 | +6.4% |
| Trade debts | 44 | €28,417 | €3,527 | -€24,890 | -87.6% |
| Suppliers | 440/4 | €28,417 | €3,527 | -€24,890 | -87.6% |
| Taxes, remuneration and social security | 45 | €35,035 | €60,459 | +€25,424 | +72.6% |
| Taxes | 450/3 | €29,184 | €41,391 | +€12,207 | +41.8% |
| Remuneration and social security | 454/9 | €5,851 | €19,068 | +€13,217 | +226% |
| Other amounts payable | 47/48 | €67,864 | €75,673 | +€7,809 | +11.5% |
| Remuneration, social security and pensions | 62 | €39,901 | €42,326 | +€2,425 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,028 | €26,411 | +€2,383 | +9.9% |
| Other operating charges | 640/8 | €1,780 | €952 | -€828 | -46.5% |
| Gross operating margin | 9900 | €208,938 | €171,842 | -€37,096 | -17.8% |
| Operating profit (loss) | 9901 | €143,229 | €102,153 | -€41,076 | -28.7% |
| Financial income | 75/76B | €95 | €2,043 | +€1,948 | +2,051% |
| Recurring financial income | 75 | €95 | €2,043 | +€1,948 | +2,051% |
| Financial charges | 65/66B | €6,001 | €4,307 | -€1,694 | -28.2% |
| Recurring financial charges | 65 | €6,001 | €4,307 | -€1,694 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | €137,323 | €99,889 | -€37,434 | -27.3% |
| Income taxes | 67/77 | €38,981 | €20,954 | -€18,027 | -46.2% |
| Profit (loss) for the period | 9904 | €98,342 | €78,935 | -€19,407 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €98,342 | €78,935 | -€19,407 | -19.7% |
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 23 October 2026 via checked.be.