TIGER: 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
TIGER
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,005
2024 · €11,684-€6,679
Equity
€98,106
2024 · €93,101+€5,005
Cash
€1,087
2024 · €3,396-€2,309
Balance sheet total
€1.1m
2024 · €1.1m+€12,855
Largest movements
Assets
- Receivables within one year +€20,490
up €20,490 (+18.2%), from €112,721 to €133,211
Equity and liabilities
- Other debts +€76,992
up €76,992 (+30.4%), from €253,336 to €330,328
- Provisions -€62,466
down €62,466 (-8.1%), from €767,029 to €704,563
Income statement
- Gross operating margin -€13,127
down €13,127 (-22.5%), from €58,224 to €45,097
- Taxes -€4,843
down €4,843, from €3,011 to -€1,832
- Financial charges -€2,659
down €2,659 (-7.3%), from €36,398 to €33,739
of which Financial charges: -€2,660
- Other operating charges +€823
up €823 (+94.2%), from €874 to €1,697
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
€11,684
Gross operating margin
-€13,127
Depreciation
-€233
Other operating charges
-€823
Financial income
+€1
Financial charges
+€2,659
Taxes
+€4,843
Result 2025
€5,005
raises the resultlowers the result
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.
From operations
+€3,849
Investment
-€1,164
Financing
-€4,995
Cash 2024
€3,396
From operations (derived)
+€3,849
Net result for the year
+€5,005
Depreciation
+€6,489
Receivables within one year
-€20,490
Provisions
-€62,466
Trade debts
+€87
Tax, wage and social debts
-€1,769
Other debts
+€76,992
Investment (derived)
-€1,164
Investment in fixed assets (net)
-€1,164
Financing
-€4,995
Debts after one year
-€3,027
Current portion of long-term debt
-€1,968
Cash 2025
€1,087
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,128,218 | €1,141,073 | +€12,855 | +1.1% |
| Fixed assets | 21/28 | €1,012,101 | €1,006,775 | -€5,326 | -0.5% |
| Tangible fixed assets | 22/27 | €80,101 | €74,775 | -€5,326 | -6.6% |
| Land and buildings | 22 | €72,075 | €67,825 | -€4,250 | -5.9% |
| Plant, machinery and equipment | 23 | - | €931 | +€931 | |
| Furniture and vehicles | 24 | €8,026 | €6,020 | -€2,007 | -25.0% |
| Financial fixed assets | 28 | €932,000 | €932,000 | = | 0.0% |
| Current assets | 29/58 | €116,117 | €134,298 | +€18,181 | +15.7% |
| Amounts receivable within one year | 40/41 | €112,721 | €133,211 | +€20,490 | +18.2% |
| Trade receivables | 40 | €112,721 | €133,211 | +€20,490 | +18.2% |
| Cash at bank and in hand | 54/58 | €3,396 | €1,087 | -€2,309 | -68.0% |
| Total equity and liabilities | 10/49 | €1,128,218 | €1,141,073 | +€12,855 | +1.1% |
| Equity | 10/15 | €93,101 | €98,106 | +€5,005 | +5.4% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €1,155 | €1,405 | +€250 | +21.7% |
| Non-distributable reserves | 130/1 | €1,155 | €1,405 | +€250 | +21.7% |
| Legal reserve | 130 | €1,155 | €1,405 | +€250 | +21.7% |
| Profit (loss) carried forward | 14 | €21,946 | €26,701 | +€4,755 | +21.7% |
| Provisions and deferred taxes | 16 | €767,029 | €704,563 | -€62,466 | -8.1% |
| Provisions for liabilities and charges | 160/5 | €767,029 | €704,563 | -€62,466 | -8.1% |
| Other liabilities and charges | 164/5 | €767,029 | €704,563 | -€62,466 | -8.1% |
| Amounts payable | 17/49 | €268,088 | €338,404 | +€70,316 | +26.2% |
| Amounts payable after more than one year | 17 | €3,027 | - | -€3,027 | |
| Financial debts | 170/4 | €3,027 | - | -€3,027 | |
| Amounts payable within one year | 42/48 | €265,062 | €338,404 | +€73,343 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €4,995 | €3,027 | -€1,968 | -39.4% |
| Trade debts | 44 | €133 | €220 | +€87 | +65.5% |
| Suppliers | 440/4 | €133 | €220 | +€87 | +65.5% |
| Taxes, remuneration and social security | 45 | €6,598 | €4,829 | -€1,769 | -26.8% |
| Taxes | 450/3 | €6,598 | €4,829 | -€1,769 | -26.8% |
| Other amounts payable | 47/48 | €253,336 | €330,328 | +€76,992 | +30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,257 | €6,489 | +€233 | +3.7% |
| Other operating charges | 640/8 | €874 | €1,697 | +€823 | +94.2% |
| Gross operating margin | 9900 | €58,224 | €45,097 | -€13,127 | -22.5% |
| Operating profit (loss) | 9901 | €51,093 | €36,911 | -€14,182 | -27.8% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Non-recurring financial income | 76B | - | €1 | +€1 | |
| Financial charges | 65/66B | €36,398 | €33,739 | -€2,659 | -7.3% |
| Recurring financial charges | 65 | €36,398 | €33,738 | -€2,660 | -7.3% |
| Non-recurring financial charges | 66B | €0 | €1 | +€1 | +232% |
| Profit (loss) for the period before taxes | 9903 | €14,695 | €3,173 | -€11,522 | -78.4% |
| Income taxes | 67/77 | €3,011 | -€1,832 | -€4,843 | |
| Profit (loss) for the period | 9904 | €11,684 | €5,005 | -€6,679 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,684 | €5,005 | -€6,679 | -57.2% |
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 20 October 2026 via checked.be.