TITANOX: 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.
TITANOX
Largest movements
- Receivables within one year +€114,731
up €114,731 (+184.4%), from €62,213 to €176,944
of which Trade receivables: +€95,681
- Tangible fixed assets +€61,689
up €61,689 (+437.3%), from €14,108 to €75,797
of which Furniture and vehicles: +€64,043
- Trade debts +€128,543
up €128,543 (+2404.5%), from €5,346 to €133,889
- Tax, wage and social debts +€16,859
up €16,859 (+3001.0%), from €562 to €17,421
- Reserves +€16,020
up €16,020 (+233.5%), from €6,860 to €22,880
of which Distributable reserves: +€22,880
- Debts after one year +€14,481
new in 2024: €14,481
- Current portion of long-term debt +€3,090
up €3,090 (+141.7%), from €2,181 to €5,271
- Gross operating margin -€23,612
down €23,612 (-38.0%), from €62,115 to €38,503
- Taxes +€9,942
up €9,942 (+346.6%), from €2,868 to €12,810
- Financial income +€3,070
up €3,070 (+15348500.0%), from €0 to €3,070
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,201 | €291,258 | +€179,057 | +159.6% |
| Fixed assets | 21/28 | €14,108 | €75,797 | +€61,689 | +437.3% |
| Tangible fixed assets | 22/27 | €14,108 | €75,797 | +€61,689 | +437.3% |
| Plant, machinery and equipment | 23 | €7,157 | €4,803 | -€2,354 | -32.9% |
| Furniture and vehicles | 24 | €6,951 | €70,994 | +€64,043 | +921.4% |
| Current assets | 29/58 | €98,093 | €215,461 | +€117,369 | +119.7% |
| Stocks and contracts in progress | 3 | €18,519 | €16,650 | -€1,869 | -10.1% |
| Stocks | 30/36 | €18,519 | €16,650 | -€1,869 | -10.1% |
| Amounts receivable within one year | 40/41 | €62,213 | €176,944 | +€114,731 | +184.4% |
| Trade receivables | 40 | €2,348 | €98,029 | +€95,681 | +4075.0% |
| Other amounts receivable | 41 | €59,865 | €78,915 | +€19,050 | +31.8% |
| Cash at bank and in hand | 54/58 | €17,361 | €19,413 | +€2,052 | +11.8% |
| Deferred charges and accrued income | 490/1 | - | €2,454 | +€2,454 | |
| Total equity and liabilities | 10/49 | €112,201 | €291,258 | +€179,057 | +159.6% |
| Equity | 10/15 | €104,112 | €119,299 | +€15,187 | +14.6% |
| Contributions | 10/11 | €43,600 | €43,600 | = | 0.0% |
| Capital | 10 | €43,600 | - | -€43,600 | |
| Issued capital | 100 | €68,600 | - | -€68,600 | |
| Uncalled capital | 101 | €25,000 | - | -€25,000 | |
| Reserves | 13 | €6,860 | €22,880 | +€16,020 | +233.5% |
| Non-distributable reserves | 130/1 | €6,860 | - | -€6,860 | |
| Legal reserve | 130 | €6,860 | - | -€6,860 | |
| Distributable reserves | 133 | - | €22,880 | +€22,880 | |
| Profit (loss) carried forward | 14 | €53,652 | €52,819 | -€833 | -1.6% |
| Amounts payable | 17/49 | €8,089 | €171,959 | +€163,870 | +2025.9% |
| Amounts payable after more than one year | 17 | - | €14,481 | +€14,481 | |
| Financial debts | 170/4 | - | €14,481 | +€14,481 | |
| Amounts payable within one year | 42/48 | €8,089 | €157,414 | +€149,326 | +1846.1% |
| Current portion of amounts payable after more than one year | 42 | €2,181 | €5,271 | +€3,090 | +141.7% |
| Trade debts | 44 | €5,346 | €133,889 | +€128,543 | +2404.5% |
| Suppliers | 440/4 | €5,346 | €133,889 | +€128,543 | +2404.5% |
| Taxes, remuneration and social security | 45 | €562 | €17,421 | +€16,859 | +3001.0% |
| Taxes | 450/3 | €562 | €17,421 | +€16,859 | +3001.0% |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Accrued charges and deferred income | 492/3 | - | €63 | +€63 | |
| Non-recurring operating income | 76A | - | €14,678 | +€14,678 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,417 | €9,400 | -€17 | -0.2% |
| Other operating charges | 640/8 | €2,265 | €2,080 | -€184 | -8.1% |
| Gross operating margin | 9900 | €62,115 | €38,503 | -€23,612 | -38.0% |
| Operating profit (loss) | 9901 | €50,433 | €27,022 | -€23,411 | -46.4% |
| Financial income | 75/76B | €0 | €3,070 | +€3,070 | +15348500.0% |
| Recurring financial income | 75 | €0 | €3,070 | +€3,070 | +15348500.0% |
| Financial charges | 65/66B | €680 | €1,262 | +€582 | +85.6% |
| Recurring financial charges | 65 | €680 | €1,262 | +€582 | +85.6% |
| Profit (loss) for the period before taxes | 9903 | €49,753 | €28,830 | -€20,923 | -42.1% |
| Income taxes | 67/77 | €2,868 | €12,810 | +€9,942 | +346.6% |
| Profit (loss) for the period | 9904 | €46,885 | €16,020 | -€30,865 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €46,885 | €16,020 | -€30,865 | -65.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.