TiQo Coating: 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.
TiQo Coating
Largest movements
- Tangible fixed assets -€90,540
down €90,540 (-19.3%), from €469,446 to €378,906
of which Plant, machinery and equipment: -€53,527
- Receivables within one year -€64,347
down €64,347 (-17.3%), from €371,446 to €307,100
of which Trade receivables: -€63,850
- Cash -€38,817
down €38,817 (-66.9%), from €57,995 to €19,177
mainly Trade debts (-€90,936) and Debts after one year (-€69,896)
- Trade debts -€90,936
down €90,936 (-36.9%), from €246,443 to €155,507
- Debts after one year -€69,896
down €69,896 (-13.3%), from €526,460 to €456,565
of which Financial debts: -€69,896
- Profit (loss) carried forward -€37,183
down €37,183 (-20.8%), from -€178,739 to -€215,922
- Short-term financial debts +€32,337
up €32,337 (+21.6%), from €149,515 to €181,852
- Tax, wage and social debts -€13,676
down €13,676 (-17.9%), from €76,277 to €62,601
of which Remuneration and social security: -€16,633
- Gross operating margin +€32,507
up €32,507 (+5.0%), from €644,516 to €677,023
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 | €989,579 | €806,228 | -€183,351 | -18.5% |
| Fixed assets | 21/28 | €469,704 | €379,051 | -€90,653 | -19.3% |
| Intangible fixed assets | 21 | €113 | €0 | -€113 | -100% |
| Tangible fixed assets | 22/27 | €469,446 | €378,906 | -€90,540 | -19.3% |
| Plant, machinery and equipment | 23 | €366,762 | €313,235 | -€53,527 | -14.6% |
| Furniture and vehicles | 24 | €16,814 | €13,209 | -€3,605 | -21.4% |
| Leasing and similar rights | 25 | €35,567 | €0 | -€35,567 | -100% |
| Other tangible fixed assets | 26 | €50,304 | €52,462 | +€2,159 | +4.3% |
| Financial fixed assets | 28 | €145 | €145 | = | 0.0% |
| Current assets | 29/58 | €519,875 | €427,177 | -€92,698 | -17.8% |
| Stocks and contracts in progress | 3 | €69,992 | €74,741 | +€4,749 | +6.8% |
| Stocks | 30/36 | €69,992 | €74,741 | +€4,749 | +6.8% |
| Amounts receivable within one year | 40/41 | €371,446 | €307,100 | -€64,347 | -17.3% |
| Trade receivables | 40 | €369,971 | €306,121 | -€63,850 | -17.3% |
| Other amounts receivable | 41 | €1,476 | €979 | -€497 | -33.7% |
| Cash at bank and in hand | 54/58 | €57,995 | €19,177 | -€38,817 | -66.9% |
| Deferred charges and accrued income | 490/1 | €20,442 | €26,159 | +€5,717 | +28.0% |
| Total equity and liabilities | 10/49 | €989,579 | €806,228 | -€183,351 | -18.5% |
| Equity | 10/15 | -€158,739 | -€195,922 | -€37,183 | -23.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€178,739 | -€215,922 | -€37,183 | -20.8% |
| Amounts payable | 17/49 | €1,148,317 | €1,002,150 | -€146,168 | -12.7% |
| Amounts payable after more than one year | 17 | €526,460 | €456,565 | -€69,896 | -13.3% |
| Financial debts | 170/4 | €476,460 | €406,565 | -€69,896 | -14.7% |
| Other amounts payable | 178/9 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €612,470 | €541,245 | -€71,224 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €81,681 | €82,622 | +€941 | +1.2% |
| Financial debts | 43 | €149,515 | €181,852 | +€32,337 | +21.6% |
| Credit institutions | 430/8 | €149,515 | €181,852 | +€32,337 | +21.6% |
| Trade debts | 44 | €246,443 | €155,507 | -€90,936 | -36.9% |
| Suppliers | 440/4 | €246,443 | €155,507 | -€90,936 | -36.9% |
| Taxes, remuneration and social security | 45 | €76,277 | €62,601 | -€13,676 | -17.9% |
| Taxes | 450/3 | €21,156 | €24,113 | +€2,957 | +14.0% |
| Remuneration and social security | 454/9 | €55,121 | €38,488 | -€16,633 | -30.2% |
| Other amounts payable | 47/48 | €58,554 | €58,663 | +€109 | +0.2% |
| Accrued charges and deferred income | 492/3 | €9,387 | €4,340 | -€5,048 | -53.8% |
| Remuneration, social security and pensions | 62 | €577,297 | €571,279 | -€6,018 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,821 | €89,452 | -€4,369 | -4.7% |
| Other operating charges | 640/8 | €1,471 | €1,510 | +€40 | +2.7% |
| Non-recurring operating charges | 66A | €4,341 | €24,873 | +€20,532 | +473% |
| Gross operating margin | 9900 | €644,516 | €677,023 | +€32,507 | +5.0% |
| Operating profit (loss) | 9901 | -€32,413 | -€10,092 | +€22,322 | +68.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -32.4% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -32.4% |
| Financial charges | 65/66B | €33,594 | €27,092 | -€6,502 | -19.4% |
| Recurring financial charges | 65 | €33,594 | €27,092 | -€6,502 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | -€66,007 | -€37,183 | +€28,824 | +43.7% |
| Profit (loss) for the period | 9904 | -€66,007 | -€37,183 | +€28,824 | +43.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,007 | -€37,183 | +€28,824 | +43.7% |
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 22 October 2026 via checked.be.