TIGER EXPRESS: 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.
TIGER EXPRESS
Largest movements
- Tangible fixed assets +€184,552
up €184,552 (+26.6%), from €693,685 to €878,238
of which Plant, machinery and equipment: +€221,378
- Cash +€173,774
up €173,774 (+53.2%), from €326,945 to €500,719
mainly Net result for the year (+€168,115) and Receivables within one year (+€124,613)
- Receivables within one year -€124,613
down €124,613 (-12.6%), from €991,622 to €867,009
of which Trade receivables: -€124,423
- Deferred charges and accrued income -€41,866
down €41,866 (-89.8%), from €46,631 to €4,765
- Reserves +€168,115
up €168,115 (+18.0%), from €932,196 to €1.1m
- Trade debts +€38,866
up €38,866 (+24.6%), from €157,877 to €196,743
- Depreciation -€57,626
down €57,626 (-56.0%), from €102,824 to €45,199
- Gross operating margin -€14,782
down €14,782 (-4.7%), from €313,064 to €298,282
- Taxes +€11,288
up €11,288 (+18.7%), from €60,239 to €71,526
- Financial charges -€7,143
down €7,143 (-36.6%), from €19,540 to €12,397
- Financial income +€6,542
up €6,542 (+1149.0%), from €569 to €7,111
of which Non-recurring financial income: +€6,637
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 | €2,144,811 | €2,338,640 | +€193,829 | +9.0% |
| Fixed assets | 21/28 | €693,685 | €878,238 | +€184,552 | +26.6% |
| Tangible fixed assets | 22/27 | €693,685 | €878,238 | +€184,552 | +26.6% |
| Land and buildings | 22 | €618,806 | €604,480 | -€14,326 | -2.3% |
| Plant, machinery and equipment | 23 | €17,920 | €239,299 | +€221,378 | +1235.3% |
| Furniture and vehicles | 24 | €56,959 | €34,459 | -€22,500 | -39.5% |
| Current assets | 29/58 | €1,451,126 | €1,460,402 | +€9,276 | +0.6% |
| Stocks and contracts in progress | 3 | €85,928 | €87,909 | +€1,981 | +2.3% |
| Stocks | 30/36 | €85,928 | €87,909 | +€1,981 | +2.3% |
| Amounts receivable within one year | 40/41 | €991,622 | €867,009 | -€124,613 | -12.6% |
| Trade receivables | 40 | €947,425 | €823,001 | -€124,423 | -13.1% |
| Other amounts receivable | 41 | €44,197 | €44,007 | -€190 | -0.4% |
| Cash at bank and in hand | 54/58 | €326,945 | €500,719 | +€173,774 | +53.2% |
| Deferred charges and accrued income | 490/1 | €46,631 | €4,765 | -€41,866 | -89.8% |
| Total equity and liabilities | 10/49 | €2,144,811 | €2,338,640 | +€193,829 | +9.0% |
| Equity | 10/15 | €1,557,196 | €1,725,311 | +€168,115 | +10.8% |
| Contributions | 10/11 | €625,000 | €625,000 | = | 0.0% |
| Reserves | 13 | €932,196 | €1,100,311 | +€168,115 | +18.0% |
| Distributable reserves | 133 | €932,196 | €1,100,311 | +€168,115 | +18.0% |
| Amounts payable | 17/49 | €587,615 | €613,329 | +€25,713 | +4.4% |
| Amounts payable within one year | 42/48 | €571,042 | €613,311 | +€42,269 | +7.4% |
| Trade debts | 44 | €157,877 | €196,743 | +€38,866 | +24.6% |
| Suppliers | 440/4 | €157,877 | €196,743 | +€38,866 | +24.6% |
| Taxes, remuneration and social security | 45 | €25,225 | €16,812 | -€8,414 | -33.4% |
| Taxes | 450/3 | €25,225 | €16,812 | -€8,414 | -33.4% |
| Other amounts payable | 47/48 | €387,940 | €399,756 | +€11,816 | +3.0% |
| Accrued charges and deferred income | 492/3 | €16,573 | €18 | -€16,555 | -99.9% |
| Non-recurring operating income | 76A | - | €27,950 | +€27,950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,824 | €45,199 | -€57,626 | -56.0% |
| Other operating charges | 640/8 | €5,331 | €8,156 | +€2,824 | +53.0% |
| Gross operating margin | 9900 | €313,064 | €298,282 | -€14,782 | -4.7% |
| Operating profit (loss) | 9901 | €204,909 | €244,928 | +€40,019 | +19.5% |
| Financial income | 75/76B | €569 | €7,111 | +€6,542 | +1149.0% |
| Recurring financial income | 75 | €569 | €474 | -€96 | -16.8% |
| Non-recurring financial income | 76B | - | €6,637 | +€6,637 | |
| Financial charges | 65/66B | €19,540 | €12,397 | -€7,143 | -36.6% |
| Recurring financial charges | 65 | €19,540 | €12,397 | -€7,143 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | €185,938 | €239,642 | +€53,703 | +28.9% |
| Income taxes | 67/77 | €60,239 | €71,526 | +€11,288 | +18.7% |
| Profit (loss) for the period | 9904 | €125,700 | €168,115 | +€42,416 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €125,700 | €168,115 | +€42,416 | +33.7% |
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 5 October 2026 via checked.be.