TILES INVEST: what changed
What changed
TILES INVEST
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€38,546
2024 · -€10,097-€28,449
Equity
€2.8m
2024 · €2.8m-€38,546
Cash
€24,961
2024 · €30,920-€5,959
Balance sheet total
€4.5m
2024 · €4.6m-€51,035
Largest movements
Assets
- Tangible fixed assets -€98,249
down €98,249 (-5.2%), from €1.9m to €1.8m
of which Land and buildings: -€84,274
- Receivables within one year +€49,941
up €49,941 (+51.5%), from €96,938 to €146,879
of which Trade receivables: +€47,323
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Staff costs +€24,500
up €24,500 (+18.1%), from €135,694 to €160,194
- Taxes +€8,833
up €8,833 (+10,681%), from €83 to €8,916
- Gross operating margin -€8,649
down €8,649 (-2.5%), from €343,978 to €335,329
- Financial charges -€7,406
down €7,406 (-8.2%), from €90,279 to €82,873
- Depreciation -€3,804
down €3,804 (-3.1%), from €121,773 to €117,968
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€10,097
Gross operating margin
-€8,649
Staff costs
-€24,500
Depreciation
+€3,804
Other operating charges
-€41
Financial income
+€2,363
Financial charges
+€7,406
Taxes
-€8,833
Result 2025
-€38,546
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€38,509
Investment
-€19,720
Financing
-€24,749
Cash 2024
€30,920
From operations (derived)
+€38,509
Net result for the year
-€38,546
Depreciation
+€117,968
Stocks and contracts
-€793
Receivables within one year
-€49,941
Deferred charges and accrued income
-€2,439
Trade debts
-€20,317
Tax, wage and social debts
+€7,527
Other debts
+€32,787
Accrued charges and deferred income
-€7,737
Investment (derived)
-€19,720
Investment in fixed assets (net)
-€19,720
Financing
-€24,749
Debts after one year
-€24,990
Current portion of long-term debt
+€242
Cash 2025
€24,961
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,552,281 | €4,501,246 | -€51,035 | -1.1% |
| Fixed assets | 21/28 | €4,413,898 | €4,315,649 | -€98,249 | -2.2% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €1,900,426 | €1,802,177 | -€98,249 | -5.2% |
| Land and buildings | 22 | €1,821,270 | €1,736,996 | -€84,274 | -4.6% |
| Plant, machinery and equipment | 23 | €65,550 | €57,985 | -€7,566 | -11.5% |
| Furniture and vehicles | 24 | €13,605 | €7,196 | -€6,409 | -47.1% |
| Financial fixed assets | 28 | €2,513,472 | €2,513,472 | = | 0.0% |
| Current assets | 29/58 | €138,383 | €185,596 | +€47,214 | +34.1% |
| Stocks and contracts in progress | 3 | €7,428 | €8,221 | +€793 | +10.7% |
| Stocks | 30/36 | €7,428 | €8,221 | +€793 | +10.7% |
| Amounts receivable within one year | 40/41 | €96,938 | €146,879 | +€49,941 | +51.5% |
| Trade receivables | 40 | €75,911 | €123,233 | +€47,323 | +62.3% |
| Other amounts receivable | 41 | €21,027 | €23,646 | +€2,619 | +12.5% |
| Cash at bank and in hand | 54/58 | €30,920 | €24,961 | -€5,959 | -19.3% |
| Deferred charges and accrued income | 490/1 | €3,097 | €5,535 | +€2,439 | +78.8% |
| Total equity and liabilities | 10/49 | €4,552,281 | €4,501,246 | -€51,035 | -1.1% |
| Equity | 10/15 | €2,795,359 | €2,756,813 | -€38,546 | -1.4% |
| Contributions | 10/11 | €1,328,944 | €1,328,944 | = | 0.0% |
| Reserves | 13 | €1,466,415 | €1,427,869 | -€38,546 | -2.6% |
| Tax-exempt reserves | 132 | €29,470 | €29,470 | = | 0.0% |
| Distributable reserves | 133 | €1,436,945 | €1,398,399 | -€38,546 | -2.7% |
| Amounts payable | 17/49 | €1,756,922 | €1,744,433 | -€12,489 | -0.7% |
| Amounts payable after more than one year | 17 | €140,501 | €115,511 | -€24,990 | -17.8% |
| Financial debts | 170/4 | €140,501 | €115,511 | -€24,990 | -17.8% |
| Amounts payable within one year | 42/48 | €1,548,548 | €1,568,786 | +€20,239 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €24,749 | €24,990 | +€242 | +1.0% |
| Trade debts | 44 | €32,175 | €11,858 | -€20,317 | -63.1% |
| Suppliers | 440/4 | €32,175 | €11,858 | -€20,317 | -63.1% |
| Taxes, remuneration and social security | 45 | €29,857 | €37,384 | +€7,527 | +25.2% |
| Taxes | 450/3 | €15,762 | €20,208 | +€4,446 | +28.2% |
| Remuneration and social security | 454/9 | €14,095 | €17,176 | +€3,081 | +21.9% |
| Other amounts payable | 47/48 | €1,461,767 | €1,494,554 | +€32,787 | +2.2% |
| Accrued charges and deferred income | 492/3 | €67,873 | €60,136 | -€7,737 | -11.4% |
| Remuneration, social security and pensions | 62 | €135,694 | €160,194 | +€24,500 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,773 | €117,968 | -€3,804 | -3.1% |
| Other operating charges | 640/8 | €6,277 | €6,318 | +€41 | +0.7% |
| Gross operating margin | 9900 | €343,978 | €335,329 | -€8,649 | -2.5% |
| Operating profit (loss) | 9901 | €80,235 | €50,849 | -€29,386 | -36.6% |
| Financial income | 75/76B | €31 | €2,394 | +€2,363 | +7,725% |
| Recurring financial income | 75 | €31 | €2,394 | +€2,363 | +7,725% |
| Financial charges | 65/66B | €90,279 | €82,873 | -€7,406 | -8.2% |
| Recurring financial charges | 65 | €90,279 | €82,873 | -€7,406 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | -€10,014 | -€29,631 | -€19,617 | -196% |
| Income taxes | 67/77 | €83 | €8,916 | +€8,833 | +10,681% |
| Profit (loss) for the period | 9904 | -€10,097 | -€38,546 | -€28,449 | -282% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,097 | -€38,546 | -€28,449 | -282% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.