Titamed: 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.
Titamed
Largest movements
- Current investments +€100,000
up €100,000 (+66.7%), from €150,000 to €250,000
- Tangible fixed assets -€57,246
down €57,246 (-24.5%), from €233,210 to €175,963
of which Plant, machinery and equipment: -€37,637
- Receivables within one year +€36,502
up €36,502 (+7.2%), from €506,740 to €543,242
of which Trade receivables: +€48,153
- Cash -€35,240
down €35,240 (-17.9%), from €197,060 to €161,819
mainly Contributions, distributions and other (-€600,000) and Current investments (-€100,000)
- Stocks and contracts +€21,185
up €21,185 (+7.5%), from €280,845 to €302,031
- Other debts +€98,339
up €98,339 (+19.6%), from €501,661 to €600,000
- Reserves +€42,536
up €42,536 (+10.6%), from €401,751 to €444,287
- Accrued charges and deferred income -€37,500
down €37,500 (-17.6%), from €212,500 to €175,000
- Debts after one year -€30,942
down €30,942 (-66.3%), from €46,658 to €15,715
- Gross operating margin +€127,540
up €127,540 (+10.2%), from €1.3m to €1.4m
- Staff costs +€58,911
up €58,911 (+15.5%), from €380,230 to €439,141
- Taxes +€16,389
up €16,389 (+8.1%), from €202,795 to €219,184
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 | €1,371,034 | €1,433,454 | +€62,420 | +4.6% |
| Fixed assets | 21/28 | €233,210 | €175,963 | -€57,246 | -24.5% |
| Tangible fixed assets | 22/27 | €233,210 | €175,963 | -€57,246 | -24.5% |
| Plant, machinery and equipment | 23 | €169,685 | €132,048 | -€37,637 | -22.2% |
| Other tangible fixed assets | 26 | €63,525 | €43,915 | -€19,609 | -30.9% |
| Current assets | 29/58 | €1,137,825 | €1,257,491 | +€119,667 | +10.5% |
| Stocks and contracts in progress | 3 | €280,845 | €302,031 | +€21,185 | +7.5% |
| Stocks | 30/36 | €280,845 | €302,031 | +€21,185 | +7.5% |
| Amounts receivable within one year | 40/41 | €506,740 | €543,242 | +€36,502 | +7.2% |
| Trade receivables | 40 | €334,463 | €382,616 | +€48,153 | +14.4% |
| Other amounts receivable | 41 | €172,277 | €160,626 | -€11,651 | -6.8% |
| Current investments | 50/53 | €150,000 | €250,000 | +€100,000 | +66.7% |
| Cash at bank and in hand | 54/58 | €197,060 | €161,819 | -€35,240 | -17.9% |
| Deferred charges and accrued income | 490/1 | €3,180 | €400 | -€2,780 | -87.4% |
| Total equity and liabilities | 10/49 | €1,371,034 | €1,433,454 | +€62,420 | +4.6% |
| Equity | 10/15 | €420,351 | €462,887 | +€42,536 | +10.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €401,751 | €444,287 | +€42,536 | +10.6% |
| Distributable reserves | 133 | €401,751 | €444,287 | +€42,536 | +10.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €950,684 | €970,568 | +€19,884 | +2.1% |
| Amounts payable after more than one year | 17 | €46,658 | €15,715 | -€30,942 | -66.3% |
| Financial debts | 170/4 | €46,658 | €15,715 | -€30,942 | -66.3% |
| Amounts payable within one year | 42/48 | €691,526 | €779,853 | +€88,327 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €30,303 | €30,942 | +€639 | +2.1% |
| Trade debts | 44 | €91,232 | €94,271 | +€3,040 | +3.3% |
| Suppliers | 440/4 | €91,232 | €94,271 | +€3,040 | +3.3% |
| Taxes, remuneration and social security | 45 | €68,330 | €54,639 | -€13,691 | -20.0% |
| Taxes | 450/3 | €29,165 | €11,785 | -€17,380 | -59.6% |
| Remuneration and social security | 454/9 | €39,165 | €42,853 | +€3,688 | +9.4% |
| Other amounts payable | 47/48 | €501,661 | €600,000 | +€98,339 | +19.6% |
| Accrued charges and deferred income | 492/3 | €212,500 | €175,000 | -€37,500 | -17.6% |
| Remuneration, social security and pensions | 62 | €380,230 | €439,141 | +€58,911 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,497 | €81,267 | -€1,230 | -1.5% |
| Other operating charges | 640/8 | €7,569 | €3,398 | -€4,171 | -55.1% |
| Gross operating margin | 9900 | €1,251,820 | €1,379,359 | +€127,540 | +10.2% |
| Operating profit (loss) | 9901 | €781,523 | €855,553 | +€74,030 | +9.5% |
| Financial income | 75/76B | €10,125 | €8,510 | -€1,615 | -16.0% |
| Recurring financial income | 75 | €10,125 | €8,510 | -€1,615 | -16.0% |
| Financial charges | 65/66B | €2,545 | €2,343 | -€201 | -7.9% |
| Recurring financial charges | 65 | €2,545 | €2,343 | -€201 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €789,104 | €861,720 | +€72,616 | +9.2% |
| Income taxes | 67/77 | €202,795 | €219,184 | +€16,389 | +8.1% |
| Profit (loss) for the period | 9904 | €586,309 | €642,536 | +€56,227 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €586,309 | €642,536 | +€56,227 | +9.6% |
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 11 October 2026 via checked.be.