TILTECH: 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.
What changed
TILTECH
NACE 42.220, Construction of utility projects for electricity and telecommunications
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€233,197
2024 · €679,778-€446,581
Equity
€1.4m
2024 · €1.4m+€13,210
Cash
€129,233
2024 · €1.1m-€939,733
Balance sheet total
€2.7m
2024 · €3.0m-€282,122
Largest movements
Assets
- Cash -€939,733
down €939,733 (-87.9%), from €1.1m to €129,233
mainly Current investments (-€502,672) and Other debts (-€376,199)
- Current investments +€502,672
up €502,672 (+137.5%), from €365,697 to €868,370
- Receivables within one year +€112,284
up €112,284 (+11.5%), from €972,666 to €1.1m
of which Trade receivables: +€60,185
- Stocks and contracts +€79,865
up €79,865 (+55.9%), from €142,848 to €222,713
- Intangible fixed assets -€70,346
down €70,346 (-48.3%), from €145,562 to €75,217
Equity and liabilities
- Other debts -€376,199
down €376,199 (-58.7%), from €640,874 to €264,675
- Advances received +€34,081
up €34,081 (+9.1%), from €374,928 to €409,009
- Profit (loss) carried forward +€33,086
up €33,086 (+419.2%), from €7,892 to €40,978
Income statement
- Gross operating margin -€344,095
down €344,095 (-20.7%), from €1.7m to €1.3m
- Financial income -€148,457
down €148,457 (-61.3%), from €242,024 to €93,568
- Taxes -€110,356
down €110,356 (-67.1%), from €164,558 to €54,202
- Staff costs +€52,216
up €52,216 (+5.8%), from €904,986 to €957,203
- Write-downs +€17,334
up €17,334, from -€8,513 to €8,821
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.
Result 2024
€679,778
Gross operating margin
-€344,095
Staff costs
-€52,216
Depreciation
-€55
Write-downs
-€17,334
Other operating charges
+€3,559
Financial income
-€148,457
Financial charges
+€1,661
Taxes
+€110,356
Result 2025
€233,197
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.
From operations
-€149,528
Investment
-€611,298
Financing
-€178,906
Cash 2024
€1.1m
From operations (derived)
-€149,528
Net result for the year
+€233,197
Depreciation
+€136,235
Stocks and contracts
-€79,865
Receivables within one year
-€112,284
Deferred charges and accrued income
+€9,602
Trade debts
+€25,342
Tax, wage and social debts
-€19,174
Advances received
+€34,081
Other debts
-€376,199
Accrued charges and deferred income
-€462
Investment (derived)
-€611,298
Investment in fixed assets (net)
-€108,626
Current investments
-€502,672
Financing
-€178,906
Debts after one year
+€24,576
Current portion of long-term debt
+€16,505
Contributions, distributions and other
-€219,987
Cash 2025
€129,233
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,029,074 | €2,746,953 | -€282,122 | -9.3% |
| Fixed assets | 21/28 | €450,574 | €422,964 | -€27,609 | -6.1% |
| Intangible fixed assets | 21 | €145,562 | €75,217 | -€70,346 | -48.3% |
| Tangible fixed assets | 22/27 | €272,933 | €321,998 | +€49,065 | +18.0% |
| Land and buildings | 22 | €100,000 | €143,523 | +€43,523 | +43.5% |
| Plant, machinery and equipment | 23 | €6,233 | €3,894 | -€2,339 | -37.5% |
| Furniture and vehicles | 24 | €166,700 | €174,580 | +€7,880 | +4.7% |
| Financial fixed assets | 28 | €32,079 | €25,750 | -€6,329 | -19.7% |
| Current assets | 29/58 | €2,578,501 | €2,323,988 | -€254,513 | -9.9% |
| Stocks and contracts in progress | 3 | €142,848 | €222,713 | +€79,865 | +55.9% |
| Stocks | 30/36 | €142,848 | €222,713 | +€79,865 | +55.9% |
| Amounts receivable within one year | 40/41 | €972,666 | €1,084,950 | +€112,284 | +11.5% |
| Trade receivables | 40 | €972,666 | €1,032,852 | +€60,185 | +6.2% |
| Other amounts receivable | 41 | - | €52,099 | +€52,099 | |
| Current investments | 50/53 | €365,697 | €868,370 | +€502,672 | +137.5% |
| Cash at bank and in hand | 54/58 | €1,068,966 | €129,233 | -€939,733 | -87.9% |
| Deferred charges and accrued income | 490/1 | €28,323 | €18,722 | -€9,602 | -33.9% |
| Total equity and liabilities | 10/49 | €3,029,074 | €2,746,953 | -€282,122 | -9.3% |
| Equity | 10/15 | €1,409,645 | €1,422,855 | +€13,210 | +0.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,075,000 | €1,075,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €1,050,000 | €1,050,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,892 | €40,978 | +€33,086 | +419.2% |
| Investment grants | 15 | €76,753 | €56,876 | -€19,877 | -25.9% |
| Provisions and deferred taxes | 16 | €100,000 | €100,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €100,000 | €100,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,519,430 | €1,224,098 | -€295,332 | -19.4% |
| Amounts payable after more than one year | 17 | €22,161 | €46,737 | +€24,576 | +110.9% |
| Financial debts | 170/4 | €22,161 | €46,737 | +€24,576 | +110.9% |
| Amounts payable within one year | 42/48 | €1,496,807 | €1,177,361 | -€319,446 | -21.3% |
| Current portion of amounts payable after more than one year | 42 | €16,908 | €33,413 | +€16,505 | +97.6% |
| Trade debts | 44 | €235,047 | €260,388 | +€25,342 | +10.8% |
| Suppliers | 440/4 | €235,047 | €260,388 | +€25,342 | +10.8% |
| Advances received on contracts in progress | 46 | €374,928 | €409,009 | +€34,081 | +9.1% |
| Taxes, remuneration and social security | 45 | €229,049 | €209,875 | -€19,174 | -8.4% |
| Taxes | 450/3 | €119,510 | €84,483 | -€35,027 | -29.3% |
| Remuneration and social security | 454/9 | €109,539 | €125,392 | +€15,852 | +14.5% |
| Other amounts payable | 47/48 | €640,874 | €264,675 | -€376,199 | -58.7% |
| Accrued charges and deferred income | 492/3 | €462 | €0 | -€462 | -100.0% |
| Remuneration, social security and pensions | 62 | €904,986 | €957,203 | +€52,216 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €136,181 | €136,235 | +€55 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€8,513 | €8,821 | +€17,334 | |
| Other operating charges | 640/8 | €15,300 | €11,742 | -€3,559 | -23.3% |
| Gross operating margin | 9900 | €1,665,872 | €1,321,777 | -€344,095 | -20.7% |
| Operating profit (loss) | 9901 | €617,918 | €207,776 | -€410,142 | -66.4% |
| Financial income | 75/76B | €242,024 | €93,568 | -€148,457 | -61.3% |
| Recurring financial income | 75 | €242,024 | €93,568 | -€148,457 | -61.3% |
| Financial charges | 65/66B | €15,607 | €13,945 | -€1,661 | -10.6% |
| Recurring financial charges | 65 | €15,607 | €13,945 | -€1,661 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €844,336 | €287,398 | -€556,937 | -66.0% |
| Income taxes | 67/77 | €164,558 | €54,202 | -€110,356 | -67.1% |
| Profit (loss) for the period | 9904 | €679,778 | €233,197 | -€446,581 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €679,778 | €233,197 | -€446,581 | -65.7% |
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 3 October 2026 via checked.be.