Tifre Group: 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.
Tifre Group
Largest movements
- Receivables within one year +€1.4m
up €1.4m (+249%), from €550,763 to €1.9m
of which Other amounts receivable: +€866,851
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Cash +€102,087
up €102,087 (+96.7%), from €105,619 to €207,706
mainly Net result for the year (+€1.4m) and Current investments (+€200,000)
- Profit (loss) carried forward +€1.4m
up €1.4m (+152%), from €904,804 to €2.3m
- Debts after one year -€221,957
down €221,957 (-7.9%), from €2.8m to €2.6m
- Tax, wage and social debts +€146,928
up €146,928 (+149%), from €98,295 to €245,223
- Gross operating margin +€341,869
up €341,869 (+70.2%), from €486,989 to €828,858
- Financial income +€187,415
up €187,415 (+28.3%), from €661,336 to €848,751
- Taxes +€89,787
up €89,787 (+98.0%), from €91,647 to €181,434
- Financial charges -€29,668
down €29,668 (-19.6%), from €151,326 to €121,658
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 | €5,178,973 | €6,469,844 | +€1.3m | +24.9% |
| Fixed assets | 21/28 | €4,320,000 | €4,320,000 | = | 0.0% |
| Financial fixed assets | 28 | €4,320,000 | €4,320,000 | = | 0.0% |
| Current assets | 29/58 | €858,973 | €2,149,844 | +€1.3m | +150% |
| Amounts receivable within one year | 40/41 | €550,763 | €1,924,614 | +€1.4m | +249% |
| Trade receivables | 40 | €340,000 | €847,000 | +€507,000 | +149% |
| Other amounts receivable | 41 | €210,763 | €1,077,614 | +€866,851 | +411% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €105,619 | €207,706 | +€102,087 | +96.7% |
| Deferred charges and accrued income | 490/1 | €2,591 | €17,524 | +€14,933 | +576% |
| Total equity and liabilities | 10/49 | €5,178,973 | €6,469,844 | +€1.3m | +24.9% |
| Equity | 10/15 | €1,984,804 | €3,359,105 | +€1.4m | +69.2% |
| Contributions | 10/11 | €1,080,000 | €1,080,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €904,804 | €2,279,105 | +€1.4m | +152% |
| Amounts payable | 17/49 | €3,194,169 | €3,110,739 | -€83,431 | -2.6% |
| Amounts payable after more than one year | 17 | €2,821,092 | €2,599,135 | -€221,957 | -7.9% |
| Financial debts | 170/4 | €2,821,092 | €2,599,135 | -€221,957 | -7.9% |
| Amounts payable within one year | 42/48 | €313,561 | €468,404 | +€154,843 | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €213,515 | €221,957 | +€8,443 | +4.0% |
| Trade debts | 44 | €1,751 | €1,224 | -€527 | -30.1% |
| Suppliers | 440/4 | €1,751 | €1,224 | -€527 | -30.1% |
| Taxes, remuneration and social security | 45 | €98,295 | €245,223 | +€146,928 | +149% |
| Taxes | 450/3 | €98,295 | €245,223 | +€146,928 | +149% |
| Accrued charges and deferred income | 492/3 | €59,516 | €43,200 | -€16,316 | -27.4% |
| Other operating charges | 640/8 | €548 | €216 | -€332 | -60.6% |
| Gross operating margin | 9900 | €486,989 | €828,858 | +€341,869 | +70.2% |
| Operating profit (loss) | 9901 | €486,441 | €828,642 | +€342,202 | +70.3% |
| Financial income | 75/76B | €661,336 | €848,751 | +€187,415 | +28.3% |
| Recurring financial income | 75 | €661,336 | €848,751 | +€187,415 | +28.3% |
| Financial charges | 65/66B | €151,326 | €121,658 | -€29,668 | -19.6% |
| Recurring financial charges | 65 | €151,326 | €121,658 | -€29,668 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €996,450 | €1,555,735 | +€559,285 | +56.1% |
| Income taxes | 67/77 | €91,647 | €181,434 | +€89,787 | +98.0% |
| Profit (loss) for the period | 9904 | €904,804 | €1,374,301 | +€469,498 | +51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €904,804 | €1,374,301 | +€469,498 | +51.9% |
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 22 October 2026 via checked.be.