TIGNER: 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.
TIGNER
Largest movements
- Receivables within one year +€63,348
up €63,348 (+238.0%), from €26,616 to €89,964
of which Other amounts receivable: +€39,368
- Cash +€43,912
up €43,912 (+43.1%), from €101,823 to €145,736
mainly Net result for the year (+€111,772) and Depreciation (+€35,917)
- Intangible fixed assets -€20,500
down €20,500 (-41.4%), from €49,542 to €29,042
- Tangible fixed assets -€13,407
down €13,407 (-6.4%), from €209,951 to €196,544
of which Land and buildings: -€14,376
- Deferred charges and accrued income +€11,680
up €11,680 (+6853.1%), from €170 to €11,850
- Profit (loss) carried forward +€69,672
up €69,672 (+79.6%), from €87,558 to €157,230
- Reserves +€42,100
up €42,100 (+87.4%), from €48,170 to €90,270
of which Tax-exempt reserves: +€88,410
- Debts after one year -€17,013
down €17,013 (-9.4%), from €181,660 to €164,647
- Other debts -€11,000
no longer reported in 2025 (was €11,000)
- Gross operating margin +€23,103
up €23,103 (+14.9%), from €155,222 to €178,325
- Taxes -€16,267
down €16,267 (-41.3%), from €39,389 to €23,122
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €388,103 | €473,136 | +€85,033 | +21.9% |
| Fixed assets | 21/28 | €259,493 | €225,586 | -€33,907 | -13.1% |
| Intangible fixed assets | 21 | €49,542 | €29,042 | -€20,500 | -41.4% |
| Tangible fixed assets | 22/27 | €209,951 | €196,544 | -€13,407 | -6.4% |
| Land and buildings | 22 | €207,813 | €193,437 | -€14,376 | -6.9% |
| Furniture and vehicles | 24 | €2,138 | €3,107 | +€969 | +45.3% |
| Current assets | 29/58 | €128,610 | €247,550 | +€118,940 | +92.5% |
| Amounts receivable within one year | 40/41 | €26,616 | €89,964 | +€63,348 | +238.0% |
| Trade receivables | 40 | €1,574 | €25,554 | +€23,980 | +1523.4% |
| Other amounts receivable | 41 | €25,042 | €64,410 | +€39,368 | +157.2% |
| Cash at bank and in hand | 54/58 | €101,823 | €145,736 | +€43,912 | +43.1% |
| Deferred charges and accrued income | 490/1 | €170 | €11,850 | +€11,680 | +6853.1% |
| Total equity and liabilities | 10/49 | €388,103 | €473,136 | +€85,033 | +21.9% |
| Equity | 10/15 | €154,328 | €266,100 | +€111,772 | +72.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €48,170 | €90,270 | +€42,100 | +87.4% |
| Tax-exempt reserves | 132 | - | €88,410 | +€88,410 | |
| Distributable reserves | 133 | €48,170 | €1,860 | -€46,310 | -96.1% |
| Profit (loss) carried forward | 14 | €87,558 | €157,230 | +€69,672 | +79.6% |
| Amounts payable | 17/49 | €233,775 | €207,036 | -€26,739 | -11.4% |
| Amounts payable after more than one year | 17 | €181,660 | €164,647 | -€17,013 | -9.4% |
| Financial debts | 170/4 | €181,660 | €164,647 | -€17,013 | -9.4% |
| Amounts payable within one year | 42/48 | €50,660 | €40,893 | -€9,766 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €16,604 | €17,013 | +€409 | +2.5% |
| Trade debts | 44 | €5,171 | €9,745 | +€4,574 | +88.5% |
| Suppliers | 440/4 | €5,171 | €9,745 | +€4,574 | +88.5% |
| Taxes, remuneration and social security | 45 | €17,885 | €14,136 | -€3,749 | -21.0% |
| Taxes | 450/3 | €17,885 | €14,136 | -€3,749 | -21.0% |
| Other amounts payable | 47/48 | €11,000 | - | -€11,000 | |
| Accrued charges and deferred income | 492/3 | €1,455 | €1,495 | +€40 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,856 | €35,917 | +€61 | +0.2% |
| Other operating charges | 640/8 | €3,271 | €4,424 | +€1,154 | +35.3% |
| Gross operating margin | 9900 | €155,222 | €178,325 | +€23,103 | +14.9% |
| Operating profit (loss) | 9901 | €116,095 | €137,984 | +€21,889 | +18.9% |
| Financial income | 75/76B | €174 | €1,855 | +€1,682 | +969.1% |
| Recurring financial income | 75 | €174 | €1,855 | +€1,682 | +969.1% |
| Financial charges | 65/66B | €5,673 | €4,945 | -€728 | -12.8% |
| Recurring financial charges | 65 | €5,673 | €4,945 | -€728 | -12.8% |
| Profit (loss) for the period before taxes | 9903 | €110,596 | €134,894 | +€24,298 | +22.0% |
| Income taxes | 67/77 | €39,389 | €23,122 | -€16,267 | -41.3% |
| Profit (loss) for the period | 9904 | €71,207 | €111,772 | +€40,565 | +57.0% |
| Transfer to tax-exempt reserves | 689 | €46,310 | €42,100 | -€4,210 | -9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,897 | €69,672 | +€44,775 | +179.8% |
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 6 October 2026 via checked.be.