TILBORGHS FRANK: 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.
TILBORGHS FRANK
Largest movements
- Receivables within one year -€72,458
down €72,458 (-74.7%), from €96,973 to €24,515
of which Trade receivables: -€50,758
- Current investments +€38,296
up €38,296 (+19.7%), from €194,186 to €232,482
- Stocks and contracts +€12,344
up €12,344 (+11.9%), from €103,917 to €116,261
- Tangible fixed assets -€11,792
down €11,792 (-15.6%), from €75,549 to €63,757
of which Land and buildings: -€11,671
- Reserves +€67,788
up €67,788 (+13.8%), from €491,861 to €559,649
- Other debts -€56,118
down €56,118 (-88.1%), from €63,689 to €7,570
- Advances received -€45,775
down €45,775 (-100%), from €45,775 to €0
- Gross operating margin +€58,128
up €58,128 (+102%), from €57,157 to €115,286
- Taxes +€17,267
up €17,267 (+169%), from €10,191 to €27,458
- Financial income +€5,866
up €5,866 (+229%), from €2,559 to €8,425
- Financial charges +€4,421
up €4,421, from -€1,408 to €3,013
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 | €641,144 | €609,338 | -€31,806 | -5.0% |
| Fixed assets | 21/28 | €75,549 | €63,757 | -€11,792 | -15.6% |
| Tangible fixed assets | 22/27 | €75,549 | €63,757 | -€11,792 | -15.6% |
| Land and buildings | 22 | €51,201 | €39,530 | -€11,671 | -22.8% |
| Plant, machinery and equipment | 23 | €800 | €9,997 | +€9,198 | +1,150% |
| Furniture and vehicles | 24 | €23,548 | €14,229 | -€9,319 | -39.6% |
| Current assets | 29/58 | €565,595 | €545,581 | -€20,014 | -3.5% |
| Stocks and contracts in progress | 3 | €103,917 | €116,261 | +€12,344 | +11.9% |
| Stocks | 30/36 | €103,917 | €116,261 | +€12,344 | +11.9% |
| Amounts receivable within one year | 40/41 | €96,973 | €24,515 | -€72,458 | -74.7% |
| Trade receivables | 40 | €69,433 | €18,675 | -€50,758 | -73.1% |
| Other amounts receivable | 41 | €27,540 | €5,840 | -€21,701 | -78.8% |
| Current investments | 50/53 | €194,186 | €232,482 | +€38,296 | +19.7% |
| Cash at bank and in hand | 54/58 | €159,485 | €165,613 | +€6,129 | +3.8% |
| Deferred charges and accrued income | 490/1 | €11,034 | €6,710 | -€4,324 | -39.2% |
| Total equity and liabilities | 10/49 | €641,144 | €609,338 | -€31,806 | -5.0% |
| Equity | 10/15 | €511,861 | €579,649 | +€67,788 | +13.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €491,861 | €559,649 | +€67,788 | +13.8% |
| Distributable reserves | 133 | €491,861 | €559,649 | +€67,788 | +13.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €129,283 | €29,688 | -€99,594 | -77.0% |
| Amounts payable within one year | 42/48 | €128,449 | €28,564 | -€99,885 | -77.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €11,879 | €7,939 | -€3,940 | -33.2% |
| Suppliers | 440/4 | €11,879 | €7,939 | -€3,940 | -33.2% |
| Advances received on contracts in progress | 46 | €45,775 | €0 | -€45,775 | -100% |
| Taxes, remuneration and social security | 45 | €7,107 | €13,055 | +€5,948 | +83.7% |
| Taxes | 450/3 | €4,227 | €9,705 | +€5,478 | +130% |
| Remuneration and social security | 454/9 | €2,880 | €3,350 | +€470 | +16.3% |
| Other amounts payable | 47/48 | €63,689 | €7,570 | -€56,118 | -88.1% |
| Accrued charges and deferred income | 492/3 | €834 | €1,124 | +€290 | +34.8% |
| Non-recurring operating income | 76A | €250 | €2,000 | +€1,750 | +700% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,382 | €22,948 | -€433 | -1.9% |
| Other operating charges | 640/8 | €2,429 | €2,503 | +€74 | +3.0% |
| Gross operating margin | 9900 | €57,157 | €115,286 | +€58,128 | +102% |
| Operating profit (loss) | 9901 | €31,346 | €89,834 | +€58,488 | +187% |
| Financial income | 75/76B | €2,559 | €8,425 | +€5,866 | +229% |
| Recurring financial income | 75 | €2,559 | €8,425 | +€5,866 | +229% |
| Financial charges | 65/66B | -€1,408 | €3,013 | +€4,421 | |
| Recurring financial charges | 65 | -€1,408 | €3,013 | +€4,421 | |
| Profit (loss) for the period before taxes | 9903 | €35,314 | €95,246 | +€59,932 | +170% |
| Income taxes | 67/77 | €10,191 | €27,458 | +€17,267 | +169% |
| Profit (loss) for the period | 9904 | €25,123 | €67,788 | +€42,665 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €25,123 | €67,788 | +€42,665 | +170% |
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 21 October 2026 via checked.be.