Titanium: what changed
Two fiscal 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.
Titanium
Largest movements
- Cash -€25,364
down €25,364 (-49.1%), from €51,629 to €26,265
mainly Contributions, distributions and other (-€35,294) and Receivables within one year (-€20,449)
- Receivables within one year +€20,449
up €20,449 (+314.1%), from €6,509 to €26,959
of which Trade receivables: +€18,090
- Reserves -€31,893
down €31,893 (-67.0%), from €47,609 to €15,716
- Other debts +€23,377
up €23,377 (+2766.0%), from €845 to €24,222
- Tax, wage and social debts +€3,374
up €3,374 (+62.2%), from €5,425 to €8,798
- Gross operating margin +€590
up €590 (+9.6%), from €6,156 to €6,746
- Taxes -€548
down €548 (-18.3%), from €2,984 to €2,437
- Depreciation +€107
up €107 (+181.6%), from €59 to €166
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 | €58,909 | €53,828 | -€5,081 | -8.6% |
| Fixed assets | 21/28 | €771 | €605 | -€166 | -21.5% |
| Tangible fixed assets | 22/27 | €771 | €605 | -€166 | -21.5% |
| Furniture and vehicles | 24 | €771 | €605 | -€166 | -21.5% |
| Current assets | 29/58 | €58,138 | €53,224 | -€4,915 | -8.5% |
| Amounts receivable within one year | 40/41 | €6,509 | €26,959 | +€20,449 | +314.1% |
| Trade receivables | 40 | €6,306 | €24,395 | +€18,090 | +286.9% |
| Other amounts receivable | 41 | €204 | €2,563 | +€2,360 | +1157.4% |
| Cash at bank and in hand | 54/58 | €51,629 | €26,265 | -€25,364 | -49.1% |
| Total equity and liabilities | 10/49 | €58,909 | €53,828 | -€5,081 | -8.6% |
| Equity | 10/15 | €50,609 | €18,716 | -€31,893 | -63.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €47,609 | €15,716 | -€31,893 | -67.0% |
| Distributable reserves | 133 | €47,609 | €15,716 | -€31,893 | -67.0% |
| Amounts payable | 17/49 | €8,300 | €35,112 | +€26,812 | +323.0% |
| Amounts payable within one year | 42/48 | €8,300 | €35,112 | +€26,812 | +323.0% |
| Trade debts | 44 | €2,030 | €2,092 | +€62 | +3.0% |
| Suppliers | 440/4 | €2,030 | €2,092 | +€62 | +3.0% |
| Taxes, remuneration and social security | 45 | €5,425 | €8,798 | +€3,374 | +62.2% |
| Taxes | 450/3 | €5,425 | €8,798 | +€3,374 | +62.2% |
| Other amounts payable | 47/48 | €845 | €24,222 | +€23,377 | +2766.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59 | €166 | +€107 | +181.6% |
| Other operating charges | 640/8 | €569 | €623 | +€53 | +9.4% |
| Gross operating margin | 9900 | €6,156 | €6,746 | +€590 | +9.6% |
| Operating profit (loss) | 9901 | €5,528 | €5,958 | +€429 | +7.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €131 | €120 | -€11 | -8.5% |
| Recurring financial charges | 65 | €131 | €120 | -€11 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €5,397 | €5,838 | +€441 | +8.2% |
| Income taxes | 67/77 | €2,984 | €2,437 | -€548 | -18.3% |
| Profit (loss) for the period | 9904 | €2,413 | €3,401 | +€988 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,413 | €3,401 | +€988 | +41.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.