TITANS: 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.
TITANS
Largest movements
- Receivables within one year -€154,421
down €154,421 (-17.7%), from €872,477 to €718,056
of which Trade receivables: -€158,251
- Tangible fixed assets -€65,905
down €65,905 (-5.5%), from €1.2m to €1.1m
- Tax, wage and social debts -€157,655
down €157,655 (-63.3%), from €248,969 to €91,314
of which Taxes: -€94,894
- Short-term financial debts -€100,779
down €100,779 (-100.0%), from €100,779 to €0
- Debts after one year -€88,640
down €88,640 (-21.7%), from €407,665 to €319,025
- Other debts +€59,226
up €59,226 (+87.5%), from €67,684 to €126,910
- Reserves +€55,893
up €55,893 (+7.3%), from €767,750 to €823,642
of which Distributable reserves: +€55,893
- Gross operating margin +€51,910
up €51,910 (+4.5%), from €1.1m to €1.2m
- Staff costs +€21,280
up €21,280 (+2.2%), from €958,886 to €980,166
- Depreciation +€13,346
up €13,346 (+22.1%), from €60,523 to €73,869
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 | €2,121,779 | €1,897,778 | -€224,001 | -10.6% |
| Fixed assets | 21/28 | €1,198,668 | €1,132,763 | -€65,905 | -5.5% |
| Tangible fixed assets | 22/27 | €1,198,668 | €1,132,763 | -€65,905 | -5.5% |
| Land and buildings | 22 | €1,093,028 | €1,065,713 | -€27,316 | -2.5% |
| Plant, machinery and equipment | 23 | €32,416 | €18,205 | -€14,211 | -43.8% |
| Furniture and vehicles | 24 | €73,225 | €48,846 | -€24,379 | -33.3% |
| Current assets | 29/58 | €923,111 | €765,014 | -€158,096 | -17.1% |
| Amounts receivable within one year | 40/41 | €872,477 | €718,056 | -€154,421 | -17.7% |
| Trade receivables | 40 | €699,552 | €541,301 | -€158,251 | -22.6% |
| Other amounts receivable | 41 | €172,925 | €176,755 | +€3,830 | +2.2% |
| Cash at bank and in hand | 54/58 | €47,609 | €30,418 | -€17,191 | -36.1% |
| Deferred charges and accrued income | 490/1 | €3,025 | €16,540 | +€13,516 | +446.9% |
| Total equity and liabilities | 10/49 | €2,121,779 | €1,897,778 | -€224,001 | -10.6% |
| Equity | 10/15 | €867,750 | €923,642 | +€55,893 | +6.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €767,750 | €823,642 | +€55,893 | +7.3% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €757,750 | €813,642 | +€55,893 | +7.4% |
| Amounts payable | 17/49 | €1,254,029 | €974,135 | -€279,894 | -22.3% |
| Amounts payable after more than one year | 17 | €407,665 | €319,025 | -€88,640 | -21.7% |
| Financial debts | 170/4 | €407,665 | €319,025 | -€88,640 | -21.7% |
| Amounts payable within one year | 42/48 | €846,364 | €646,036 | -€200,328 | -23.7% |
| Current portion of amounts payable after more than one year | 42 | €142,560 | €177,163 | +€34,604 | +24.3% |
| Financial debts | 43 | €100,779 | €0 | -€100,779 | -100.0% |
| Credit institutions | 430/8 | €100,779 | €0 | -€100,779 | -100.0% |
| Trade debts | 44 | €286,373 | €250,649 | -€35,724 | -12.5% |
| Suppliers | 440/4 | €286,373 | €250,649 | -€35,724 | -12.5% |
| Taxes, remuneration and social security | 45 | €248,969 | €91,314 | -€157,655 | -63.3% |
| Taxes | 450/3 | €111,553 | €16,658 | -€94,894 | -85.1% |
| Remuneration and social security | 454/9 | €137,416 | €74,655 | -€62,761 | -45.7% |
| Other amounts payable | 47/48 | €67,684 | €126,910 | +€59,226 | +87.5% |
| Accrued charges and deferred income | 492/3 | €0 | €9,075 | +€9,074 | +1930678.7% |
| Non-recurring operating income | 76A | €822 | €496 | -€326 | -39.7% |
| Remuneration, social security and pensions | 62 | €958,886 | €980,166 | +€21,280 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,523 | €73,869 | +€13,346 | +22.1% |
| Other operating charges | 640/8 | €7,709 | €12,865 | +€5,156 | +66.9% |
| Gross operating margin | 9900 | €1,141,741 | €1,193,651 | +€51,910 | +4.5% |
| Operating profit (loss) | 9901 | €114,622 | €126,751 | +€12,129 | +10.6% |
| Financial income | 75/76B | €10,305 | €73 | -€10,232 | -99.3% |
| Recurring financial income | 75 | €10,305 | €73 | -€10,232 | -99.3% |
| Financial charges | 65/66B | €31,802 | €37,866 | +€6,064 | +19.1% |
| Recurring financial charges | 65 | €31,802 | €37,866 | +€6,064 | +19.1% |
| Profit (loss) for the period before taxes | 9903 | €93,124 | €88,957 | -€4,167 | -4.5% |
| Income taxes | 67/77 | €37,485 | €33,065 | -€4,420 | -11.8% |
| Profit (loss) for the period | 9904 | €55,639 | €55,893 | +€253 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €55,639 | €55,893 | +€253 | +0.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.