TILTED PHOQUES: 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.
TILTED PHOQUES
Largest movements
- Cash -€18,973
down €18,973 (-24.8%), from €76,540 to €57,567
mainly Other debts (-€17,651) and Net result for the year (-€7,213)
- Receivables within one year -€5,831
down €5,831 (-67.3%), from €8,665 to €2,834
of which Trade receivables: -€2,940
- Tangible fixed assets -€4,829
down €4,829 (-27.6%), from €17,517 to €12,688
- Current investments +€2,050
up €2,050 (+2.1%), from €98,188 to €100,238
- Other debts -€17,651
down €17,651 (-50.0%), from €35,294 to €17,643
- Profit (loss) carried forward -€7,213
down €7,213, from €402 to -€6,811
- Gross operating margin -€98,999
down €98,999 (-95.6%), from €103,521 to €4,522
- Taxes -€26,365
down €26,365 (-98.2%), from €26,842 to €478
- Financial charges +€7,775
up €7,775 (+337.4%), from €2,305 to €10,079
- Financial income -€1,896
down €1,896 (-30.2%), from €6,288 to €4,392
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €201,939 | €173,342 | -€28,597 | -14.2% |
| Fixed assets | 21/28 | €17,517 | €12,688 | -€4,829 | -27.6% |
| Tangible fixed assets | 22/27 | €17,517 | €12,688 | -€4,829 | -27.6% |
| Furniture and vehicles | 24 | €17,517 | €12,688 | -€4,829 | -27.6% |
| Current assets | 29/58 | €184,423 | €160,654 | -€23,768 | -12.9% |
| Amounts receivable within one year | 40/41 | €8,665 | €2,834 | -€5,831 | -67.3% |
| Trade receivables | 40 | €5,125 | €2,185 | -€2,940 | -57.4% |
| Other amounts receivable | 41 | €3,540 | €649 | -€2,891 | -81.7% |
| Current investments | 50/53 | €98,188 | €100,238 | +€2,050 | +2.1% |
| Cash at bank and in hand | 54/58 | €76,540 | €57,567 | -€18,973 | -24.8% |
| Deferred charges and accrued income | 490/1 | €1,029 | €15 | -€1,014 | -98.5% |
| Total equity and liabilities | 10/49 | €201,939 | €173,342 | -€28,597 | -14.2% |
| Equity | 10/15 | €162,402 | €155,189 | -€7,213 | -4.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €159,500 | €159,500 | = | 0.0% |
| Distributable reserves | 133 | €159,500 | €159,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €402 | -€6,811 | -€7,213 | |
| Amounts payable | 17/49 | €39,537 | €18,153 | -€21,384 | -54.1% |
| Amounts payable within one year | 42/48 | €39,537 | €18,153 | -€21,384 | -54.1% |
| Financial debts | 43 | €22 | - | -€22 | |
| Credit institutions | 430/8 | €22 | - | -€22 | |
| Trade debts | 44 | €1,787 | €69 | -€1,718 | -96.1% |
| Suppliers | 440/4 | €1,787 | €69 | -€1,718 | -96.1% |
| Taxes, remuneration and social security | 45 | €2,434 | €440 | -€1,994 | -81.9% |
| Taxes | 450/3 | €2,434 | €440 | -€1,994 | -81.9% |
| Other amounts payable | 47/48 | €35,294 | €17,643 | -€17,651 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,263 | €4,829 | +€566 | +13.3% |
| Other operating charges | 640/8 | €641 | €741 | +€100 | +15.5% |
| Gross operating margin | 9900 | €103,521 | €4,522 | -€98,999 | -95.6% |
| Operating profit (loss) | 9901 | €98,616 | -€1,048 | -€99,664 | |
| Financial income | 75/76B | €6,288 | €4,392 | -€1,896 | -30.2% |
| Recurring financial income | 75 | €6,288 | €4,392 | -€1,896 | -30.2% |
| Financial charges | 65/66B | €2,305 | €10,079 | +€7,775 | +337.4% |
| Recurring financial charges | 65 | €2,305 | €10,079 | +€7,775 | +337.4% |
| Profit (loss) for the period before taxes | 9903 | €102,600 | -€6,735 | -€109,335 | |
| Income taxes | 67/77 | €26,842 | €478 | -€26,365 | -98.2% |
| Profit (loss) for the period | 9904 | €75,758 | -€7,213 | -€82,970 | |
| Profit (loss) for the period to be appropriated | 9905 | €75,758 | -€7,213 | -€82,970 |
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 8 October 2026 via checked.be.