TITANEC: 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.
TITANEC
Largest movements
- Cash +€51,092
up €51,092 (+86.1%), from €59,317 to €110,409
mainly Net result for the year (+€58,597) and Trade debts (+€12,524)
- Deferred charges and accrued income +€6,747
new in 2025: €6,747
- Profit (loss) carried forward +€58,597
up €58,597 (+40,096%), from €146 to €58,743
- Trade debts +€12,524
up €12,524 (+764%), from €1,640 to €14,164
- Other debts -€11,418
down €11,418 (-23.6%), from €48,387 to €36,969
- Tax, wage and social debts -€2,336
down €2,336 (-8.7%), from €26,823 to €24,487
of which Remuneration and social security: -€3,450
- Turnover +€244,615
new in 2025: €244,615
- Purchases and services +€99,381
new in 2025: €99,381
- Gross operating margin +€18,022
up €18,022 (+12.7%), from €142,160 to €160,182
- Taxes +€12,984
up €12,984 (+103%), from €12,662 to €25,646
- Staff costs -€10,071
down €10,071 (-12.9%), from €77,859 to €67,788
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 | €97,457 | €154,823 | +€57,366 | +58.9% |
| Fixed assets | 21/28 | €1,884 | €1,140 | -€744 | -39.5% |
| Tangible fixed assets | 22/27 | €1,734 | €990 | -€744 | -42.9% |
| Furniture and vehicles | 24 | €1,734 | €990 | -€744 | -42.9% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €95,573 | €153,683 | +€58,110 | +60.8% |
| Amounts receivable within one year | 40/41 | €36,256 | €36,527 | +€271 | +0.7% |
| Trade receivables | 40 | €35,118 | €23,965 | -€11,153 | -31.8% |
| Other amounts receivable | 41 | €1,138 | €12,562 | +€11,424 | +1,004% |
| Cash at bank and in hand | 54/58 | €59,317 | €110,409 | +€51,092 | +86.1% |
| Deferred charges and accrued income | 490/1 | - | €6,747 | +€6,747 | |
| Total equity and liabilities | 10/49 | €97,457 | €154,823 | +€57,366 | +58.9% |
| Equity | 10/15 | €20,606 | €79,203 | +€58,597 | +284% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | - | -€18,600 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €146 | €58,743 | +€58,597 | +40,096% |
| Amounts payable | 17/49 | €76,850 | €75,620 | -€1,230 | -1.6% |
| Amounts payable within one year | 42/48 | €76,850 | €75,620 | -€1,230 | -1.6% |
| Trade debts | 44 | €1,640 | €14,164 | +€12,524 | +764% |
| Suppliers | 440/4 | €1,640 | €14,164 | +€12,524 | +764% |
| Taxes, remuneration and social security | 45 | €26,823 | €24,487 | -€2,336 | -8.7% |
| Taxes | 450/3 | €16,400 | €17,514 | +€1,114 | +6.8% |
| Remuneration and social security | 454/9 | €10,423 | €6,973 | -€3,450 | -33.1% |
| Other amounts payable | 47/48 | €48,387 | €36,969 | -€11,418 | -23.6% |
| Turnover | 70 | - | €244,615 | +€244,615 | |
| Non-recurring operating income | 76A | - | €473 | +€473 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €99,381 | +€99,381 | |
| Remuneration, social security and pensions | 62 | €77,859 | €67,788 | -€10,071 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,063 | €744 | -€319 | -30.0% |
| Other operating charges | 640/8 | €2,384 | €2,838 | +€454 | +19.0% |
| Non-recurring operating charges | 66A | - | €4,417 | +€4,417 | |
| Gross operating margin | 9900 | €142,160 | €160,182 | +€18,022 | +12.7% |
| Operating profit (loss) | 9901 | €60,854 | €84,395 | +€23,541 | +38.7% |
| Financial income | 75/76B | €4 | €2 | -€2 | -45.1% |
| Recurring financial income | 75 | €4 | €2 | -€2 | -45.1% |
| Financial charges | 65/66B | €153 | €154 | +€1 | +0.5% |
| Recurring financial charges | 65 | €153 | €154 | +€1 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €60,704 | €84,243 | +€23,539 | +38.8% |
| Income taxes | 67/77 | €12,662 | €25,646 | +€12,984 | +103% |
| Profit (loss) for the period | 9904 | €48,042 | €58,597 | +€10,555 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,042 | €58,597 | +€10,555 | +22.0% |
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 13 October 2026 via checked.be.