Tirga-Group: what changed
Tirga-Group
Largest movements
- Receivables within one year +€206,679
up €206,679 (+667%), from €30,980 to €237,659
of which Trade receivables: +€197,986
- Cash -€11,827
down €11,827 (-14.3%), from €82,711 to €70,884
mainly Receivables within one year (-€206,679) and Contributions, distributions and other (-€101,159)
- Other debts +€82,950
up €82,950 (+14,813%), from €560 to €83,510
- Trade debts +€56,627
up €56,627 (+356%), from €15,895 to €72,522
- Tax, wage and social debts +€41,945
up €41,945 (+124%), from €33,931 to €75,876
of which Taxes: +€41,645
- Short-term financial debts +€12,533
new in 2025: €12,533
- Gross operating margin +€89,433
up €89,433 (+155%), from €57,882 to €147,315
- Taxes +€16,364
up €16,364 (+116%), from €14,060 to €30,424
- Write-downs +€13,300
new in 2025: €13,300
- Financial charges -€2,953
down €2,953 (-85.4%), from €3,460 to €507
- Financial income +€1,795
up €1,795 (+1,412%), from €127 to €1,922
of which Non-recurring financial income: +€1,795
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €116,488 | €310,543 | +€194,055 | +167% |
| Fixed assets | 21/28 | €2,517 | €1,706 | -€810 | -32.2% |
| Tangible fixed assets | 22/27 | €2,517 | €1,706 | -€810 | -32.2% |
| Furniture and vehicles | 24 | €2,517 | €1,706 | -€810 | -32.2% |
| Current assets | 29/58 | €113,971 | €308,837 | +€194,866 | +171% |
| Amounts receivable within one year | 40/41 | €30,980 | €237,659 | +€206,679 | +667% |
| Trade receivables | 40 | €28,395 | €226,381 | +€197,986 | +697% |
| Other amounts receivable | 41 | €2,585 | €11,278 | +€8,693 | +336% |
| Cash at bank and in hand | 54/58 | €82,711 | €70,884 | -€11,827 | -14.3% |
| Deferred charges and accrued income | 490/1 | €280 | €294 | +€14 | +5.1% |
| Total equity and liabilities | 10/49 | €116,488 | €310,543 | +€194,055 | +167% |
| Equity | 10/15 | €66,102 | €66,102 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €64,038 | €64,038 | = | 0.0% |
| Distributable reserves | 133 | €64,038 | €64,038 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63 | €63 | = | 0.0% |
| Amounts payable | 17/49 | €50,386 | €244,441 | +€194,055 | +385% |
| Amounts payable within one year | 42/48 | €50,386 | €244,441 | +€194,055 | +385% |
| Financial debts | 43 | - | €12,533 | +€12,533 | |
| Credit institutions | 430/8 | - | €12,533 | +€12,533 | |
| Trade debts | 44 | €15,895 | €72,522 | +€56,627 | +356% |
| Suppliers | 440/4 | €15,895 | €72,522 | +€56,627 | +356% |
| Taxes, remuneration and social security | 45 | €33,931 | €75,876 | +€41,945 | +124% |
| Taxes | 450/3 | €31,381 | €73,026 | +€41,645 | +133% |
| Remuneration and social security | 454/9 | €2,550 | €2,850 | +€300 | +11.8% |
| Other amounts payable | 47/48 | €560 | €83,510 | +€82,950 | +14,813% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,646 | €1,851 | +€205 | +12.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €13,300 | +€13,300 | |
| Other operating charges | 640/8 | €2,883 | €1,996 | -€887 | -30.8% |
| Gross operating margin | 9900 | €57,882 | €147,315 | +€89,433 | +155% |
| Operating profit (loss) | 9901 | €53,354 | €130,168 | +€76,814 | +144% |
| Financial income | 75/76B | €127 | €1,922 | +€1,795 | +1,412% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -45.0% |
| Non-recurring financial income | 76B | €127 | €1,922 | +€1,795 | +1,415% |
| Financial charges | 65/66B | €3,460 | €507 | -€2,953 | -85.4% |
| Recurring financial charges | 65 | €3,460 | €507 | -€2,953 | -85.4% |
| Profit (loss) for the period before taxes | 9903 | €50,021 | €131,583 | +€81,562 | +163% |
| Income taxes | 67/77 | €14,060 | €30,424 | +€16,364 | +116% |
| Profit (loss) for the period | 9904 | €35,960 | €101,159 | +€65,198 | +181% |
| Profit (loss) for the period to be appropriated | 9905 | €35,960 | €101,159 | +€65,198 | +181% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.