TiHeCon: 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.
TiHeCon
Largest movements
- Tangible fixed assets +€38,964
up €38,964 (+596.5%), from €6,532 to €45,496
of which Furniture and vehicles: +€40,426
- Current investments -€21,254
down €21,254 (-15.0%), from €141,232 to €119,979
- Other debts -€59,001
no longer reported in 2025 (was €59,001)
- Reserves +€40,500
up €40,500 (+20.0%), from €202,500 to €243,000
- Debts after one year +€27,695
new in 2025: €27,695
- Current portion of long-term debt +€7,342
new in 2025: €7,342
- Financial charges -€8,270
down €8,270 (-34.3%), from €24,140 to €15,871
- Gross operating margin +€5,791
up €5,791 (+7.5%), from €76,876 to €82,667
- Depreciation +€3,269
up €3,269 (+89.8%), from €3,640 to €6,909
- Taxes +€1,548
up €1,548 (+8.3%), from €18,647 to €20,194
- Financial income +€1,524
up €1,524 (+146.2%), from €1,042 to €2,566
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 | €286,778 | €299,591 | +€12,813 | +4.5% |
| Fixed assets | 21/28 | €6,532 | €45,496 | +€38,964 | +596.5% |
| Tangible fixed assets | 22/27 | €6,532 | €45,496 | +€38,964 | +596.5% |
| Land and buildings | 22 | €5,029 | €3,567 | -€1,463 | -29.1% |
| Furniture and vehicles | 24 | €1,503 | €41,929 | +€40,426 | +2690.0% |
| Current assets | 29/58 | €280,246 | €254,095 | -€26,151 | -9.3% |
| Amounts receivable within one year | 40/41 | €18,656 | €18,256 | -€400 | -2.1% |
| Trade receivables | 40 | €18,656 | €18,256 | -€400 | -2.1% |
| Current investments | 50/53 | €141,232 | €119,979 | -€21,254 | -15.0% |
| Cash at bank and in hand | 54/58 | €115,947 | €114,246 | -€1,701 | -1.5% |
| Deferred charges and accrued income | 490/1 | €4,411 | €1,615 | -€2,796 | -63.4% |
| Total equity and liabilities | 10/49 | €286,778 | €299,591 | +€12,813 | +4.5% |
| Equity | 10/15 | €202,845 | €243,422 | +€40,577 | +20.0% |
| Reserves | 13 | €202,500 | €243,000 | +€40,500 | +20.0% |
| Distributable reserves | 133 | €202,500 | €243,000 | +€40,500 | +20.0% |
| Profit (loss) carried forward | 14 | €345 | €422 | +€77 | +22.4% |
| Amounts payable | 17/49 | €83,934 | €56,169 | -€27,765 | -33.1% |
| Amounts payable after more than one year | 17 | - | €27,695 | +€27,695 | |
| Financial debts | 170/4 | - | €27,695 | +€27,695 | |
| Amounts payable within one year | 42/48 | €83,934 | €28,474 | -€55,460 | -66.1% |
| Current portion of amounts payable after more than one year | 42 | - | €7,342 | +€7,342 | |
| Trade debts | 44 | €8,145 | €6,341 | -€1,804 | -22.1% |
| Suppliers | 440/4 | €8,145 | €6,341 | -€1,804 | -22.1% |
| Taxes, remuneration and social security | 45 | €16,787 | €14,791 | -€1,996 | -11.9% |
| Taxes | 450/3 | €16,787 | €14,791 | -€1,996 | -11.9% |
| Other amounts payable | 47/48 | €59,001 | - | -€59,001 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,640 | €6,909 | +€3,269 | +89.8% |
| Other operating charges | 640/8 | €1,146 | €1,681 | +€535 | +46.7% |
| Gross operating margin | 9900 | €76,876 | €82,667 | +€5,791 | +7.5% |
| Operating profit (loss) | 9901 | €72,089 | €74,077 | +€1,987 | +2.8% |
| Financial income | 75/76B | €1,042 | €2,566 | +€1,524 | +146.2% |
| Recurring financial income | 75 | €1,042 | €2,566 | +€1,524 | +146.2% |
| Financial charges | 65/66B | €24,140 | €15,871 | -€8,270 | -34.3% |
| Recurring financial charges | 65 | €24,140 | €15,871 | -€8,270 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €48,991 | €60,772 | +€11,780 | +24.0% |
| Income taxes | 67/77 | €18,647 | €20,194 | +€1,548 | +8.3% |
| Profit (loss) for the period | 9904 | €30,345 | €40,577 | +€10,233 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | €30,345 | €40,577 | +€10,233 | +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 6 October 2026 via checked.be.