TIKO: 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.
TIKO
Largest movements
- Tangible fixed assets +€1.5m
up €1.5m (+911%), from €159,350 to €1.6m
- Cash -€71,371
down €71,371 (-94.8%), from €75,299 to €3,928
mainly Investment in fixed assets (net) (-€1.5m) and Current portion of long-term debt (-€128,881)
- Debts after one year +€1.2m
up €1.2m (+6,231%), from €18,475 to €1.2m
- Other debts +€197,658
up €197,658 (+59.7%), from €330,839 to €528,497
- Current portion of long-term debt -€128,881
down €128,881 (-58.4%), from €220,518 to €91,637
- Reserves +€114,441
up €114,441 (+2.8%), from €4.0m to €4.2m
of which Distributable reserves: +€114,441
- Financial charges +€22,852
up €22,852 (+91.4%), from €24,995 to €47,847
- Gross operating margin -€20,010
down €20,010 (-7.0%), from €285,432 to €265,422
- Taxes -€13,322
down €13,322 (-16.1%), from €82,630 to €69,308
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,130,472 | €6,476,977 | +€1.3m | +26.2% |
| Fixed assets | 21/28 | €5,024,694 | €6,447,051 | +€1.4m | +28.3% |
| Intangible fixed assets | 21 | €157,347 | €128,753 | -€28,594 | -18.2% |
| Tangible fixed assets | 22/27 | €159,350 | €1,610,301 | +€1.5m | +911% |
| Assets under construction and advance payments | 27 | €159,350 | €1,610,301 | +€1.5m | +911% |
| Financial fixed assets | 28 | €4,707,997 | €4,707,997 | = | 0.0% |
| Current assets | 29/58 | €105,778 | €29,926 | -€75,852 | -71.7% |
| Amounts receivable within one year | 40/41 | €30,479 | €20,479 | -€10,000 | -32.8% |
| Trade receivables | 40 | €30,479 | €20,479 | -€10,000 | -32.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €75,299 | €3,928 | -€71,371 | -94.8% |
| Deferred charges and accrued income | 490/1 | - | €5,519 | +€5,519 | |
| Total equity and liabilities | 10/49 | €5,130,472 | €6,476,977 | +€1.3m | +26.2% |
| Equity | 10/15 | €4,440,297 | €4,554,738 | +€114,441 | +2.6% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €4,040,297 | €4,154,738 | +€114,441 | +2.8% |
| Non-distributable reserves | 130/1 | €4,211 | €4,211 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,211 | €4,211 | = | 0.0% |
| Distributable reserves | 133 | €4,036,086 | €4,150,527 | +€114,441 | +2.8% |
| Amounts payable | 17/49 | €690,175 | €1,922,239 | +€1.2m | +179% |
| Amounts payable after more than one year | 17 | €18,475 | €1,169,603 | +€1.2m | +6,231% |
| Financial debts | 170/4 | €18,475 | €1,169,603 | +€1.2m | +6,231% |
| Amounts payable within one year | 42/48 | €653,210 | €752,636 | +€99,426 | +15.2% |
| Current portion of amounts payable after more than one year | 42 | €220,518 | €91,637 | -€128,881 | -58.4% |
| Trade debts | 44 | €5,038 | €52,525 | +€47,487 | +943% |
| Suppliers | 440/4 | €5,038 | €52,525 | +€47,487 | +943% |
| Taxes, remuneration and social security | 45 | €96,816 | €79,978 | -€16,838 | -17.4% |
| Taxes | 450/3 | €96,816 | €79,978 | -€16,838 | -17.4% |
| Other amounts payable | 47/48 | €330,839 | €528,497 | +€197,658 | +59.7% |
| Accrued charges and deferred income | 492/3 | €18,490 | €0 | -€18,490 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,594 | €28,594 | = | 0.0% |
| Other operating charges | 640/8 | €4,948 | €5,296 | +€348 | +7.0% |
| Gross operating margin | 9900 | €285,432 | €265,422 | -€20,010 | -7.0% |
| Operating profit (loss) | 9901 | €251,889 | €231,531 | -€20,358 | -8.1% |
| Financial income | 75/76B | €0 | €65 | +€65 | |
| Recurring financial income | 75 | €0 | €65 | +€65 | |
| Financial charges | 65/66B | €24,995 | €47,847 | +€22,852 | +91.4% |
| Recurring financial charges | 65 | €24,995 | €47,847 | +€22,852 | +91.4% |
| Profit (loss) for the period before taxes | 9903 | €226,894 | €183,749 | -€43,145 | -19.0% |
| Income taxes | 67/77 | €82,630 | €69,308 | -€13,322 | -16.1% |
| Profit (loss) for the period | 9904 | €144,264 | €114,441 | -€29,823 | -20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €144,264 | €114,441 | -€29,823 | -20.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.