TIGLAT: 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.
TIGLAT
Largest movements
- Tangible fixed assets +€1.6m
up €1.6m (+637.3%), from €255,239 to €1.9m
of which Land and buildings: +€1.7m
- Cash -€292,282
down €292,282 (-65.9%), from €443,570 to €151,288
mainly Investment in fixed assets (net) (-€1.7m) and Contributions, distributions and other (-€118,351)
- Current investments -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Debts after one year +€1.3m
up €1.3m (+635.0%), from €211,517 to €1.6m
of which Financial debts: +€1.4m
- Other debts -€105,843
down €105,843 (-50.4%), from €209,872 to €104,029
- Profit (loss) carried forward -€73,047
down €73,047 (-100.0%), from €73,051 to €4
- Current portion of long-term debt +€62,290
up €62,290 (+70.5%), from €88,302 to €150,592
- Trade debts -€40,390
down €40,390 (-38.3%), from €105,511 to €65,121
- Staff costs +€101,978
up €101,978 (+38.2%), from €266,742 to €368,720
- Financial charges +€34,239
up €34,239 (+492.7%), from €6,949 to €41,188
of which Financial charges: +€32,273
- Taxes -€33,924
down €33,924 (-60.4%), from €56,149 to €22,225
- Depreciation +€22,298
up €22,298 (+25.9%), from €86,180 to €108,478
- Other operating charges +€12,592
up €12,592 (+262.3%), from €4,801 to €17,393
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 | €1,035,472 | €2,194,288 | +€1.2m | +111.9% |
| Fixed assets | 21/28 | €255,239 | €1,881,750 | +€1.6m | +637.3% |
| Tangible fixed assets | 22/27 | €255,239 | €1,881,750 | +€1.6m | +637.3% |
| Land and buildings | 22 | - | €1,715,034 | +€1.7m | |
| Plant, machinery and equipment | 23 | €950 | €158 | -€792 | -83.4% |
| Furniture and vehicles | 24 | €76,696 | €46,265 | -€30,431 | -39.7% |
| Other tangible fixed assets | 26 | €177,593 | €120,294 | -€57,299 | -32.3% |
| Current assets | 29/58 | €780,233 | €312,538 | -€467,695 | -59.9% |
| Stocks and contracts in progress | 3 | €117,979 | €120,069 | +€2,090 | +1.8% |
| Stocks | 30/36 | €117,979 | €120,069 | +€2,090 | +1.8% |
| Amounts receivable within one year | 40/41 | €14,533 | €32,202 | +€17,669 | +121.6% |
| Trade receivables | 40 | €104 | €5,771 | +€5,667 | +5448.7% |
| Other amounts receivable | 41 | €14,429 | €26,431 | +€12,002 | +83.2% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €443,570 | €151,288 | -€292,282 | -65.9% |
| Deferred charges and accrued income | 490/1 | €4,151 | €8,980 | +€4,829 | +116.3% |
| Total equity and liabilities | 10/49 | €1,035,472 | €2,194,288 | +€1.2m | +111.9% |
| Equity | 10/15 | €302,851 | €229,804 | -€73,047 | -24.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €154,800 | €154,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,150 | €63,150 | = | 0.0% |
| Distributable reserves | 133 | €91,650 | €91,650 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,051 | €4 | -€73,047 | -100.0% |
| Amounts payable | 17/49 | €732,621 | €1,964,484 | +€1.2m | +168.1% |
| Amounts payable after more than one year | 17 | €211,517 | €1,554,584 | +€1.3m | +635.0% |
| Financial debts | 170/4 | €136,517 | €1,554,584 | +€1.4m | +1038.7% |
| Other amounts payable | 178/9 | €75,000 | €0 | -€75,000 | -100.0% |
| Amounts payable within one year | 42/48 | €521,104 | €409,900 | -€111,204 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €88,302 | €150,592 | +€62,290 | +70.5% |
| Trade debts | 44 | €105,511 | €65,121 | -€40,390 | -38.3% |
| Suppliers | 440/4 | €105,511 | €65,121 | -€40,390 | -38.3% |
| Taxes, remuneration and social security | 45 | €117,419 | €90,158 | -€27,261 | -23.2% |
| Taxes | 450/3 | €86,567 | €32,365 | -€54,202 | -62.6% |
| Remuneration and social security | 454/9 | €30,852 | €57,793 | +€26,941 | +87.3% |
| Other amounts payable | 47/48 | €209,872 | €104,029 | -€105,843 | -50.4% |
| Remuneration, social security and pensions | 62 | €266,742 | €368,720 | +€101,978 | +38.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,180 | €108,478 | +€22,298 | +25.9% |
| Other operating charges | 640/8 | €4,801 | €17,393 | +€12,592 | +262.3% |
| Gross operating margin | 9900 | €593,060 | €593,403 | +€343 | +0.1% |
| Operating profit (loss) | 9901 | €235,337 | €98,811 | -€136,526 | -58.0% |
| Financial income | 75/76B | €13,317 | €9,905 | -€3,412 | -25.6% |
| Recurring financial income | 75 | €13,317 | €9,905 | -€3,412 | -25.6% |
| Financial charges | 65/66B | €6,949 | €41,188 | +€34,239 | +492.7% |
| Recurring financial charges | 65 | €6,949 | €39,222 | +€32,273 | +464.4% |
| Non-recurring financial charges | 66B | - | €1,966 | +€1,966 | |
| Profit (loss) for the period before taxes | 9903 | €241,705 | €67,529 | -€174,176 | -72.1% |
| Income taxes | 67/77 | €56,149 | €22,225 | -€33,924 | -60.4% |
| Profit (loss) for the period | 9904 | €185,556 | €45,304 | -€140,252 | -75.6% |
| Transfer to tax-exempt reserves | 689 | €63,150 | - | -€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €122,406 | €45,304 | -€77,102 | -63.0% |
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 9 October 2026 via checked.be.