TIREAL: 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.
TIREAL
Largest movements
- Stocks and contracts +€387,024
up €387,024 (+43.0%), from €900,767 to €1.3m
- Receivables within one year +€228,019
up €228,019 (+136%), from €167,071 to €395,090
of which Trade receivables: +€189,207
- Cash -€71,290
down €71,290 (-75.1%), from €94,950 to €23,660
mainly Stocks and contracts (-€387,024) and Receivables within one year (-€228,019)
- Tangible fixed assets +€19,188
up €19,188 (+665%), from €2,883 to €22,071
of which Other tangible fixed assets: +€20,616
- Trade debts +€456,711
up €456,711 (+45.6%), from €1.0m to €1.5m
- Profit (loss) carried forward +€97,989
up €97,989 (+64.0%), from €153,047 to €251,036
- Gross operating margin +€115,922
up €115,922 (+130%), from €89,323 to €205,244
- Taxes +€27,389
up €27,389 (+473%), from €5,785 to €33,174
- Staff costs -€7,172
down €7,172 (-10.6%), from €67,725 to €60,553
- Other operating charges +€6,221
up €6,221 (+163%), from €3,817 to €10,038
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,212,825 | €1,779,911 | +€567,086 | +46.8% |
| Fixed assets | 21/28 | €3,228 | €22,416 | +€19,188 | +594% |
| Tangible fixed assets | 22/27 | €2,883 | €22,071 | +€19,188 | +665% |
| Plant, machinery and equipment | 23 | €1,061 | €466 | -€595 | -56.1% |
| Furniture and vehicles | 24 | €1,822 | €989 | -€833 | -45.7% |
| Other tangible fixed assets | 26 | - | €20,616 | +€20,616 | |
| Financial fixed assets | 28 | €345 | €345 | = | 0.0% |
| Current assets | 29/58 | €1,209,597 | €1,757,495 | +€547,898 | +45.3% |
| Amounts receivable after more than one year | 29 | €45,438 | €48,026 | +€2,588 | +5.7% |
| Other amounts receivable | 291 | €45,438 | €48,026 | +€2,588 | +5.7% |
| Stocks and contracts in progress | 3 | €900,767 | €1,287,790 | +€387,024 | +43.0% |
| Stocks | 30/36 | €900,767 | €1,287,790 | +€387,024 | +43.0% |
| Amounts receivable within one year | 40/41 | €167,071 | €395,090 | +€228,019 | +136% |
| Trade receivables | 40 | €150,622 | €339,828 | +€189,207 | +126% |
| Other amounts receivable | 41 | €16,450 | €55,262 | +€38,812 | +236% |
| Cash at bank and in hand | 54/58 | €94,950 | €23,660 | -€71,290 | -75.1% |
| Deferred charges and accrued income | 490/1 | €1,371 | €2,928 | +€1,558 | +114% |
| Total equity and liabilities | 10/49 | €1,212,825 | €1,779,911 | +€567,086 | +46.8% |
| Equity | 10/15 | €173,507 | €271,496 | +€97,989 | +56.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €153,047 | €251,036 | +€97,989 | +64.0% |
| Amounts payable | 17/49 | €1,039,318 | €1,508,415 | +€469,097 | +45.1% |
| Amounts payable within one year | 42/48 | €1,039,318 | €1,508,415 | +€469,097 | +45.1% |
| Trade debts | 44 | €1,002,010 | €1,458,721 | +€456,711 | +45.6% |
| Suppliers | 440/4 | €1,002,010 | €1,458,721 | +€456,711 | +45.6% |
| Advances received on contracts in progress | 46 | €6,127 | €6,127 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €31,180 | €43,567 | +€12,387 | +39.7% |
| Taxes | 450/3 | €10,064 | €33,174 | +€23,110 | +230% |
| Remuneration and social security | 454/9 | €21,116 | €10,393 | -€10,724 | -50.8% |
| Remuneration, social security and pensions | 62 | €67,725 | €60,553 | -€7,172 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,273 | €1,473 | +€200 | +15.7% |
| Other operating charges | 640/8 | €3,817 | €10,038 | +€6,221 | +163% |
| Gross operating margin | 9900 | €89,323 | €205,244 | +€115,922 | +130% |
| Operating profit (loss) | 9901 | €16,508 | €133,180 | +€116,672 | +707% |
| Financial income | 75/76B | €8,344 | €6,589 | -€1,755 | -21.0% |
| Recurring financial income | 75 | €8,344 | €6,589 | -€1,755 | -21.0% |
| Financial charges | 65/66B | €7,191 | €8,606 | +€1,414 | +19.7% |
| Recurring financial charges | 65 | €7,191 | €8,606 | +€1,414 | +19.7% |
| Profit (loss) for the period before taxes | 9903 | €17,661 | €131,163 | +€113,503 | +643% |
| Income taxes | 67/77 | €5,785 | €33,174 | +€27,389 | +473% |
| Profit (loss) for the period | 9904 | €11,875 | €97,989 | +€86,114 | +725% |
| Profit (loss) for the period to be appropriated | 9905 | €11,875 | €97,989 | +€86,114 | +725% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.