Tifiori: 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.
Tifiori
Largest movements
- Intangible fixed assets -€39,515
down €39,515 (-70.0%), from €56,446 to €16,931
- Debts after one year -€101,909
down €101,909 (-24.2%), from €421,036 to €319,127
of which Financial debts: -€101,909
- Profit (loss) carried forward +€61,318
up €61,318 (+16.1%), from -€381,466 to -€320,148
- Trade debts +€1,847
up €1,847 (+73.4%), from €2,518 to €4,365
- Gross operating margin +€103,715
up €103,715, from -€2,201 to €101,514
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 | €58,651 | €19,408 | -€39,243 | -66.9% |
| Fixed assets | 21/28 | €56,446 | €16,931 | -€39,515 | -70.0% |
| Intangible fixed assets | 21 | €56,446 | €16,931 | -€39,515 | -70.0% |
| Current assets | 29/58 | €2,205 | €2,477 | +€272 | +12.3% |
| Amounts receivable within one year | 40/41 | €1,878 | €2,084 | +€206 | +11.0% |
| Trade receivables | 40 | €1,771 | €1,891 | +€120 | +6.8% |
| Other amounts receivable | 41 | €107 | €193 | +€86 | +80.4% |
| Cash at bank and in hand | 54/58 | €327 | €393 | +€66 | +20.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €58,651 | €19,408 | -€39,243 | -66.9% |
| Equity | 10/15 | -€366,466 | -€305,148 | +€61,318 | +16.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€381,466 | -€320,148 | +€61,318 | +16.1% |
| Amounts payable | 17/49 | €425,118 | €324,556 | -€100,562 | -23.7% |
| Amounts payable after more than one year | 17 | €421,036 | €319,127 | -€101,909 | -24.2% |
| Financial debts | 170/4 | €254,901 | €152,993 | -€101,909 | -40.0% |
| Other amounts payable | 178/9 | €166,135 | €166,135 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,082 | €5,429 | +€1,347 | +33.0% |
| Trade debts | 44 | €2,518 | €4,365 | +€1,847 | +73.4% |
| Suppliers | 440/4 | €2,518 | €4,365 | +€1,847 | +73.4% |
| Other amounts payable | 47/48 | €1,564 | €1,064 | -€500 | -32.0% |
| Non-recurring operating income | 76A | - | €103,409 | +€103,409 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,515 | €39,515 | = | 0.0% |
| Other operating charges | 640/8 | €580 | €595 | +€14 | +2.5% |
| Gross operating margin | 9900 | -€2,201 | €101,514 | +€103,715 | |
| Operating profit (loss) | 9901 | -€42,297 | €61,404 | +€103,701 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €73 | €85 | +€13 | +17.6% |
| Recurring financial charges | 65 | €73 | €85 | +€13 | +17.6% |
| Profit (loss) for the period before taxes | 9903 | -€42,370 | €61,318 | +€103,688 | |
| Profit (loss) for the period | 9904 | -€42,370 | €61,318 | +€103,688 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,370 | €61,318 | +€103,688 |
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 25 October 2026 via checked.be.