TIFI: what changed
Two fiscal 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.
TIFI
Largest movements
- Tangible fixed assets -€47,633
down €47,633 (-7.4%), from €640,604 to €592,971
of which Land and buildings: -€31,908
- Receivables within one year -€16,891
down €16,891 (-27.8%), from €60,863 to €43,972
of which Trade receivables: -€15,000
- Cash -€10,028
down €10,028 (-68.9%), from €14,556 to €4,527
mainly Other debts (-€57,429) and Debts after one year (-€43,986)
- Other debts -€57,429
down €57,429 (-16.5%), from €347,563 to €290,134
- Debts after one year -€43,986
down €43,986 (-16.9%), from €259,994 to €216,007
- Current portion of long-term debt +€16,157
up €16,157 (+58.1%), from €27,829 to €43,986
- Taxes +€6,503
up €6,503 (+295.2%), from €2,203 to €8,706
- Gross operating margin +€6,200
up €6,200 (+9.5%), from €65,384 to €71,584
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €717,022 | €641,470 | -€75,552 | -10.5% |
| Fixed assets | 21/28 | €640,604 | €592,971 | -€47,633 | -7.4% |
| Tangible fixed assets | 22/27 | €640,604 | €592,971 | -€47,633 | -7.4% |
| Land and buildings | 22 | €586,681 | €554,773 | -€31,908 | -5.4% |
| Furniture and vehicles | 24 | €21,716 | €15,128 | -€6,588 | -30.3% |
| Leasing and similar rights | 25 | €32,207 | €23,069 | -€9,138 | -28.4% |
| Current assets | 29/58 | €76,418 | €48,499 | -€27,919 | -36.5% |
| Stocks and contracts in progress | 3 | €999 | €0 | -€999 | -100.0% |
| Stocks | 30/36 | €999 | €0 | -€999 | -100.0% |
| Amounts receivable within one year | 40/41 | €60,863 | €43,972 | -€16,891 | -27.8% |
| Trade receivables | 40 | €40,000 | €25,000 | -€15,000 | -37.5% |
| Other amounts receivable | 41 | €20,863 | €18,972 | -€1,891 | -9.1% |
| Cash at bank and in hand | 54/58 | €14,556 | €4,527 | -€10,028 | -68.9% |
| Total equity and liabilities | 10/49 | €717,022 | €641,470 | -€75,552 | -10.5% |
| Equity | 10/15 | €67,674 | €73,705 | +€6,031 | +8.9% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,674 | €23,705 | +€6,031 | +34.1% |
| Amounts payable | 17/49 | €649,349 | €567,766 | -€81,583 | -12.6% |
| Amounts payable after more than one year | 17 | €259,994 | €216,007 | -€43,986 | -16.9% |
| Financial debts | 170/4 | €259,994 | €216,007 | -€43,986 | -16.9% |
| Amounts payable within one year | 42/48 | €382,718 | €345,122 | -€37,597 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €27,829 | €43,986 | +€16,157 | +58.1% |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €74 | €324 | +€250 | +337.5% |
| Suppliers | 440/4 | €74 | €324 | +€250 | +337.5% |
| Taxes, remuneration and social security | 45 | €2,252 | €5,677 | +€3,425 | +152.1% |
| Taxes | 450/3 | €2,252 | €5,677 | +€3,425 | +152.1% |
| Other amounts payable | 47/48 | €347,563 | €290,134 | -€57,429 | -16.5% |
| Accrued charges and deferred income | 492/3 | €6,637 | €6,637 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,725 | €47,633 | -€92 | -0.2% |
| Other operating charges | 640/8 | €1,132 | €1,125 | -€7 | -0.6% |
| Gross operating margin | 9900 | €65,384 | €71,584 | +€6,200 | +9.5% |
| Operating profit (loss) | 9901 | €16,527 | €22,826 | +€6,299 | +38.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €8,083 | €8,089 | +€6 | +0.1% |
| Recurring financial charges | 65 | €8,083 | €8,089 | +€6 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €8,445 | €14,737 | +€6,293 | +74.5% |
| Income taxes | 67/77 | €2,203 | €8,706 | +€6,503 | +295.2% |
| Profit (loss) for the period | 9904 | €6,242 | €6,031 | -€210 | -3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,242 | €6,031 | -€210 | -3.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.