TILKIN PROJECTS: 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.
TILKIN PROJECTS
Largest movements
- Deferred charges and accrued income +€943,244
up €943,244 (+15,728%), from €5,997 to €949,241
- Receivables after one year -€466,400
no longer reported in 2025 (was €466,400)
- Receivables within one year +€453,683
up €453,683 (+641%), from €70,772 to €524,455
of which Other amounts receivable: +€446,131
- Cash +€88,396
up €88,396 (+381%), from €23,216 to €111,612
mainly Other debts (+€722,639) and Receivables after one year (+€466,400)
- Tangible fixed assets +€44,841
up €44,841 (+33.5%), from €133,655 to €178,496
of which Land and buildings: +€43,989
- Other debts +€722,639
up €722,639 (+659%), from €109,704 to €832,343
- Tax, wage and social debts +€457,879
up €457,879 (+2,702%), from €16,944 to €474,822
of which Taxes: +€457,879
- Reserves -€76,629
down €76,629 (-16.1%), from €476,700 to €400,071
- Short-term financial debts -€20,555
no longer reported in 2025 (was €20,555)
- Debts after one year -€20,354
down €20,354 (-85.6%), from €23,766 to €3,411
- Gross operating margin -€72,694
down €72,694, from €43,516 to -€29,178
- Other operating charges +€19,486
up €19,486 (+863%), from €2,257 to €21,743
- Taxes -€7,167
down €7,167 (-94.7%), from €7,565 to €398
- Financial income -€7,151
down €7,151 (-98.3%), from €7,276 to €125
- Depreciation +€978
up €978 (+4.5%), from €21,672 to €22,650
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 | €725,041 | €1,799,185 | +€1.1m | +148% |
| Fixed assets | 21/28 | €158,655 | €213,876 | +€55,221 | +34.8% |
| Intangible fixed assets | 21 | - | €10,380 | +€10,380 | |
| Tangible fixed assets | 22/27 | €133,655 | €178,496 | +€44,841 | +33.5% |
| Land and buildings | 22 | €57,709 | €101,698 | +€43,989 | +76.2% |
| Plant, machinery and equipment | 23 | €4,318 | €21,984 | +€17,666 | +409% |
| Furniture and vehicles | 24 | €71,628 | €54,813 | -€16,815 | -23.5% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €566,386 | €1,585,309 | +€1.0m | +180% |
| Amounts receivable after more than one year | 29 | €466,400 | - | -€466,400 | |
| Other amounts receivable | 291 | €466,400 | - | -€466,400 | |
| Amounts receivable within one year | 40/41 | €70,772 | €524,455 | +€453,683 | +641% |
| Trade receivables | 40 | €35,527 | €43,079 | +€7,552 | +21.3% |
| Other amounts receivable | 41 | €35,245 | €481,376 | +€446,131 | +1,266% |
| Cash at bank and in hand | 54/58 | €23,216 | €111,612 | +€88,396 | +381% |
| Deferred charges and accrued income | 490/1 | €5,997 | €949,241 | +€943,244 | +15,728% |
| Total equity and liabilities | 10/49 | €725,041 | €1,799,185 | +€1.1m | +148% |
| Equity | 10/15 | €526,700 | €450,071 | -€76,629 | -14.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €476,700 | €400,071 | -€76,629 | -16.1% |
| Distributable reserves | 133 | €476,700 | €400,071 | -€76,629 | -16.1% |
| Amounts payable | 17/49 | €198,341 | €1,349,114 | +€1.2m | +580% |
| Amounts payable after more than one year | 17 | €23,766 | €3,411 | -€20,354 | -85.6% |
| Financial debts | 170/4 | €23,766 | €3,411 | -€20,354 | -85.6% |
| Amounts payable within one year | 42/48 | €174,575 | €1,345,703 | +€1.2m | +671% |
| Current portion of amounts payable after more than one year | 42 | €27,373 | €20,354 | -€7,019 | -25.6% |
| Financial debts | 43 | €20,555 | - | -€20,555 | |
| Credit institutions | 430/8 | €20,555 | - | -€20,555 | |
| Trade debts | 44 | - | €18,183 | +€18,183 | |
| Suppliers | 440/4 | - | €18,183 | +€18,183 | |
| Taxes, remuneration and social security | 45 | €16,944 | €474,822 | +€457,879 | +2,702% |
| Taxes | 450/3 | €13,944 | €471,822 | +€457,879 | +3,284% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €109,704 | €832,343 | +€722,639 | +659% |
| Non-recurring operating income | 76A | €11,955 | €2,130 | -€9,825 | -82.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,672 | €22,650 | +€978 | +4.5% |
| Other operating charges | 640/8 | €2,257 | €21,743 | +€19,486 | +863% |
| Gross operating margin | 9900 | €43,516 | -€29,178 | -€72,694 | |
| Operating profit (loss) | 9901 | €19,587 | -€73,571 | -€93,158 | |
| Financial income | 75/76B | €7,276 | €125 | -€7,151 | -98.3% |
| Recurring financial income | 75 | €7,276 | €125 | -€7,151 | -98.3% |
| Financial charges | 65/66B | €2,470 | €2,785 | +€315 | +12.7% |
| Recurring financial charges | 65 | €2,470 | €2,785 | +€315 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €24,393 | -€76,231 | -€100,624 | |
| Income taxes | 67/77 | €7,565 | €398 | -€7,167 | -94.7% |
| Profit (loss) for the period | 9904 | €16,828 | -€76,629 | -€93,457 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,828 | -€76,629 | -€93,457 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.