TITAN GROUP: 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.
TITAN GROUP
Largest movements
- Receivables within one year +€12,147
up €12,147 (+212%), from €5,720 to €17,867
of which Trade receivables: +€11,879
- Cash -€9,012
down €9,012 (-96.8%), from €9,314 to €302
mainly Receivables within one year (-€12,147) and Investment in fixed assets (net) (-€8,930)
- Tangible fixed assets +€3,571
up €3,571 (+9.8%), from €36,347 to €39,918
- Deferred charges and accrued income -€1,118
down €1,118 (-44.9%), from €2,487 to €1,369
- Other debts +€14,564
up €14,564 (+67.8%), from €21,480 to €36,044
- Current portion of long-term debt -€6,838
no longer reported in 2025 (was €6,838)
- Profit (loss) carried forward -€1,692
down €1,692 (-564%), from -€300 to -€1,992
- Other operating charges +€11,472
up €11,472 (+1,785%), from €643 to €12,115
- Gross operating margin +€7,025
up €7,025 (+70.3%), from €9,990 to €17,015
- Depreciation -€2,417
down €2,417 (-31.1%), from €7,776 to €5,359
- Financial charges -€388
down €388 (-23.3%), from €1,661 to €1,273
- Taxes -€211
no longer reported in 2025 (was €211)
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 | €53,869 | €59,457 | +€5,588 | +10.4% |
| Fixed assets | 21/28 | €36,347 | €39,918 | +€3,571 | +9.8% |
| Tangible fixed assets | 22/27 | €36,347 | €39,918 | +€3,571 | +9.8% |
| Furniture and vehicles | 24 | €36,347 | €39,918 | +€3,571 | +9.8% |
| Current assets | 29/58 | €17,522 | €19,538 | +€2,017 | +11.5% |
| Amounts receivable within one year | 40/41 | €5,720 | €17,867 | +€12,147 | +212% |
| Trade receivables | 40 | €5,720 | €17,599 | +€11,879 | +208% |
| Other amounts receivable | 41 | - | €268 | +€268 | |
| Cash at bank and in hand | 54/58 | €9,314 | €302 | -€9,012 | -96.8% |
| Deferred charges and accrued income | 490/1 | €2,487 | €1,369 | -€1,118 | -44.9% |
| Total equity and liabilities | 10/49 | €53,869 | €59,457 | +€5,588 | +10.4% |
| Equity | 10/15 | €1,700 | €8 | -€1,692 | -99.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€300 | -€1,992 | -€1,692 | -564% |
| Amounts payable | 17/49 | €52,169 | €59,448 | +€7,279 | +14.0% |
| Amounts payable after more than one year | 17 | €21,657 | €21,657 | = | 0.0% |
| Financial debts | 170/4 | €21,657 | €21,657 | = | 0.0% |
| Amounts payable within one year | 42/48 | €30,512 | €37,791 | +€7,279 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €6,838 | - | -€6,838 | |
| Trade debts | 44 | €1,629 | €1,702 | +€73 | +4.5% |
| Suppliers | 440/4 | €1,629 | €1,702 | +€73 | +4.5% |
| Taxes, remuneration and social security | 45 | €565 | €46 | -€519 | -91.9% |
| Taxes | 450/3 | €565 | €46 | -€519 | -91.9% |
| Other amounts payable | 47/48 | €21,480 | €36,044 | +€14,564 | +67.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,776 | €5,359 | -€2,417 | -31.1% |
| Other operating charges | 640/8 | €643 | €12,115 | +€11,472 | +1,785% |
| Gross operating margin | 9900 | €9,990 | €17,015 | +€7,025 | +70.3% |
| Operating profit (loss) | 9901 | €1,571 | -€459 | -€2,030 | |
| Financial income | 75/76B | - | €40 | +€40 | |
| Recurring financial income | 75 | - | €40 | +€40 | |
| Financial charges | 65/66B | €1,661 | €1,273 | -€388 | -23.3% |
| Recurring financial charges | 65 | €1,661 | €1,273 | -€388 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€89 | -€1,692 | -€1,602 | -1,794% |
| Income taxes | 67/77 | €211 | - | -€211 | |
| Profit (loss) for the period | 9904 | -€300 | -€1,692 | -€1,392 | -464% |
| Profit (loss) for the period to be appropriated | 9905 | -€300 | -€1,692 | -€1,392 | -464% |
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 24 October 2026 via checked.be.