Titanium: 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.
Titanium
Largest movements
- Cash +€94,979
up €94,979 (+193.1%), from €49,175 to €144,154
mainly Trade debts (+€115,910) and Receivables within one year (+€71,148)
- Receivables within one year -€71,148
down €71,148 (-3.9%), from €1.8m to €1.8m
of which Trade receivables: -€72,231
- Trade debts +€115,910
new in 2025: €115,910
- Profit (loss) carried forward -€103,508
down €103,508, from €97,967 to -€5,541
- Gross operating margin -€121,197
down €121,197, from €14,515 to -€106,682
- Depreciation +€12,814
up €12,814 (+106.0%), from €12,084 to €24,898
- Financial income -€8,365
down €8,365 (-49.1%), from €17,043 to €8,678
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 | €2,515,054 | €2,506,168 | -€8,886 | -0.4% |
| Fixed assets | 21/28 | €611,264 | €594,416 | -€16,848 | -2.8% |
| Tangible fixed assets | 22/27 | €611,264 | €594,416 | -€16,848 | -2.8% |
| Land and buildings | 22 | €607,264 | €585,976 | -€21,288 | -3.5% |
| Plant, machinery and equipment | 23 | - | €6,440 | +€6,440 | |
| Furniture and vehicles | 24 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Current assets | 29/58 | €1,903,790 | €1,911,752 | +€7,962 | +0.4% |
| Amounts receivable within one year | 40/41 | €1,838,746 | €1,767,598 | -€71,148 | -3.9% |
| Trade receivables | 40 | €83,266 | €11,035 | -€72,231 | -86.7% |
| Other amounts receivable | 41 | €1,755,480 | €1,756,563 | +€1,083 | +0.1% |
| Cash at bank and in hand | 54/58 | €49,175 | €144,154 | +€94,979 | +193.1% |
| Deferred charges and accrued income | 490/1 | €15,869 | - | -€15,869 | |
| Total equity and liabilities | 10/49 | €2,515,054 | €2,506,168 | -€8,886 | -0.4% |
| Equity | 10/15 | €1,922,138 | €1,797,342 | -€124,796 | -6.5% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €1,744,171 | €1,722,883 | -€21,288 | -1.2% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €8,000 | €8,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,736,171 | €1,714,883 | -€21,288 | -1.2% |
| Profit (loss) carried forward | 14 | €97,967 | -€5,541 | -€103,508 | |
| Provisions and deferred taxes | 16 | €592,916 | €592,916 | = | 0.0% |
| Deferred taxes | 168 | €592,916 | €592,916 | = | 0.0% |
| Amounts payable | 17/49 | - | €115,910 | +€115,910 | |
| Amounts payable within one year | 42/48 | - | €115,910 | +€115,910 | |
| Trade debts | 44 | - | €115,910 | +€115,910 | |
| Suppliers | 440/4 | - | €115,910 | +€115,910 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,084 | €24,898 | +€12,814 | +106.0% |
| Other operating charges | 640/8 | €1,694 | €1,854 | +€160 | +9.4% |
| Gross operating margin | 9900 | €14,515 | -€106,682 | -€121,197 | |
| Operating profit (loss) | 9901 | €737 | -€133,434 | -€134,171 | |
| Financial income | 75/76B | €17,043 | €8,678 | -€8,365 | -49.1% |
| Recurring financial income | 75 | €17,043 | €8,678 | -€8,365 | -49.1% |
| Financial charges | 65/66B | €43 | €40 | -€3 | -7.0% |
| Recurring financial charges | 65 | €43 | €40 | -€3 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €17,737 | -€124,796 | -€142,533 | |
| Profit (loss) for the period | 9904 | €17,737 | -€124,796 | -€142,533 | |
| Transfer from tax-exempt reserves | 789 | €10,084 | €21,288 | +€11,204 | +111.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,821 | -€103,508 | -€131,329 |
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.