Titeca & Geelen Experts: 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.
Titeca & Geelen Experts
Largest movements
- Cash +€33,064
up €33,064 (+412%), from €8,024 to €41,088
mainly Net result for the year (+€28,801) and Depreciation (+€8,633)
- Reserves +€28,801
up €28,801 (+410%), from €7,026 to €35,827
- Tax, wage and social debts +€8,623
up €8,623 (+119%), from €7,228 to €15,851
- Debts after one year -€5,577
down €5,577 (-4.5%), from €123,088 to €117,510
of which Financial debts: -€4,635
- Trade debts +€4,261
up €4,261 (+168%), from €2,533 to €6,794
- Gross operating margin +€43,893
up €43,893 (+295%), from €14,892 to €58,785
- Taxes +€13,920
up €13,920 (+1,592%), from €874 to €14,794
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 | €189,576 | €224,955 | +€35,379 | +18.7% |
| Fixed assets | 21/28 | €175,583 | €177,646 | +€2,063 | +1.2% |
| Tangible fixed assets | 22/27 | €175,583 | €177,646 | +€2,063 | +1.2% |
| Land and buildings | 22 | €172,283 | €165,009 | -€7,274 | -4.2% |
| Plant, machinery and equipment | 23 | €1,389 | €11,207 | +€9,818 | +707% |
| Furniture and vehicles | 24 | €1,911 | €1,429 | -€481 | -25.2% |
| Current assets | 29/58 | €13,993 | €47,309 | +€33,316 | +238% |
| Amounts receivable within one year | 40/41 | €5,249 | €5,512 | +€263 | +5.0% |
| Trade receivables | 40 | €5,123 | €5,511 | +€388 | +7.6% |
| Other amounts receivable | 41 | €126 | €1 | -€125 | -99.2% |
| Cash at bank and in hand | 54/58 | €8,024 | €41,088 | +€33,064 | +412% |
| Deferred charges and accrued income | 490/1 | €721 | €710 | -€11 | -1.6% |
| Total equity and liabilities | 10/49 | €189,576 | €224,955 | +€35,379 | +18.7% |
| Equity | 10/15 | €7,426 | €36,227 | +€28,801 | +388% |
| Contributions | 10/11 | €400 | €400 | = | 0.0% |
| Reserves | 13 | €7,026 | €35,827 | +€28,801 | +410% |
| Distributable reserves | 133 | €7,026 | €35,827 | +€28,801 | +410% |
| Amounts payable | 17/49 | €182,150 | €188,728 | +€6,578 | +3.6% |
| Amounts payable after more than one year | 17 | €123,088 | €117,510 | -€5,577 | -4.5% |
| Financial debts | 170/4 | €115,192 | €110,557 | -€4,635 | -4.0% |
| Other amounts payable | 178/9 | €7,896 | €6,953 | -€942 | -11.9% |
| Amounts payable within one year | 42/48 | €59,063 | €71,218 | +€12,155 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €5,380 | €5,577 | +€197 | +3.7% |
| Trade debts | 44 | €2,533 | €6,794 | +€4,261 | +168% |
| Suppliers | 440/4 | €2,533 | €6,794 | +€4,261 | +168% |
| Advances received on contracts in progress | 46 | €425 | €0 | -€425 | -100% |
| Taxes, remuneration and social security | 45 | €7,228 | €15,851 | +€8,623 | +119% |
| Taxes | 450/3 | €7,228 | €15,851 | +€8,623 | +119% |
| Other amounts payable | 47/48 | €43,496 | €42,996 | -€501 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,261 | €8,633 | +€372 | +4.5% |
| Other operating charges | 640/8 | €1,435 | €1,551 | +€116 | +8.1% |
| Gross operating margin | 9900 | €14,892 | €58,785 | +€43,893 | +295% |
| Operating profit (loss) | 9901 | €5,196 | €48,601 | +€43,405 | +835% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €5,150 | €5,006 | -€144 | -2.8% |
| Recurring financial charges | 65 | €5,150 | €5,006 | -€144 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €46 | €43,595 | +€43,549 | +95,085% |
| Income taxes | 67/77 | €874 | €14,794 | +€13,920 | +1,592% |
| Profit (loss) for the period | 9904 | -€828 | €28,801 | +€29,629 | |
| Profit (loss) for the period to be appropriated | 9905 | -€828 | €28,801 | +€29,629 |
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 1 November 2026 via checked.be.