TITHOMA: 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.
TITHOMA
Largest movements
- Tangible fixed assets +€122,443
up €122,443 (+86.2%), from €142,103 to €264,546
of which Land and buildings: +€123,953
- Cash -€91,376
down €91,376 (-96.1%), from €95,097 to €3,721
mainly Investment in fixed assets (net) (-€140,604) and Other debts (-€28,137)
- Receivables within one year -€5,735
down €5,735 (-22.2%), from €25,781 to €20,046
of which Other amounts receivable: -€15,235
- Reserves +€35,100
up €35,100 (+140.9%), from €24,916 to €60,016
of which Distributable reserves: +€35,100
- Other debts -€28,137
down €28,137 (-20.7%), from €135,698 to €107,561
- Trade debts +€17,959
up €17,959 (+67210.1%), from €27 to €17,985
- Gross operating margin -€17,588
down €17,588 (-19.1%), from €92,114 to €74,525
- Taxes +€9,293
up €9,293 (+130.9%), from €7,100 to €16,393
- Depreciation -€4,011
down €4,011 (-18.1%), from €22,172 to €18,161
- Financial charges -€1,017
down €1,017 (-77.6%), from €1,310 to €293
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 | €262,981 | €288,313 | +€25,332 | +9.6% |
| Fixed assets | 21/28 | €142,103 | €264,546 | +€122,443 | +86.2% |
| Tangible fixed assets | 22/27 | €142,103 | €264,546 | +€122,443 | +86.2% |
| Land and buildings | 22 | €127,143 | €251,095 | +€123,953 | +97.5% |
| Plant, machinery and equipment | 23 | €3,595 | €4,732 | +€1,137 | +31.6% |
| Furniture and vehicles | 24 | €11,366 | €8,719 | -€2,647 | -23.3% |
| Current assets | 29/58 | €120,878 | €23,767 | -€97,111 | -80.3% |
| Amounts receivable within one year | 40/41 | €25,781 | €20,046 | -€5,735 | -22.2% |
| Trade receivables | 40 | - | €9,500 | +€9,500 | |
| Other amounts receivable | 41 | €25,781 | €10,546 | -€15,235 | -59.1% |
| Cash at bank and in hand | 54/58 | €95,097 | €3,721 | -€91,376 | -96.1% |
| Total equity and liabilities | 10/49 | €262,981 | €288,313 | +€25,332 | +9.6% |
| Equity | 10/15 | €124,146 | €159,257 | +€35,112 | +28.3% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €24,916 | €60,016 | +€35,100 | +140.9% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €50,100 | +€35,100 | +234.0% |
| Profit (loss) carried forward | 14 | €72 | €84 | +€12 | +16.2% |
| Amounts payable | 17/49 | €138,835 | €129,056 | -€9,780 | -7.0% |
| Amounts payable within one year | 42/48 | €138,835 | €129,056 | -€9,780 | -7.0% |
| Trade debts | 44 | €27 | €17,985 | +€17,959 | +67210.1% |
| Suppliers | 440/4 | €27 | €17,985 | +€17,959 | +67210.1% |
| Taxes, remuneration and social security | 45 | €3,111 | €3,510 | +€399 | +12.8% |
| Taxes | 450/3 | €3,111 | €3,510 | +€399 | +12.8% |
| Other amounts payable | 47/48 | €135,698 | €107,561 | -€28,137 | -20.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,172 | €18,161 | -€4,011 | -18.1% |
| Other operating charges | 640/8 | €4,428 | €4,567 | +€139 | +3.1% |
| Gross operating margin | 9900 | €92,114 | €74,525 | -€17,588 | -19.1% |
| Operating profit (loss) | 9901 | €65,513 | €51,798 | -€13,716 | -20.9% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,310 | €293 | -€1,017 | -77.6% |
| Recurring financial charges | 65 | €1,310 | €293 | -€1,017 | -77.6% |
| Profit (loss) for the period before taxes | 9903 | €64,204 | €51,505 | -€12,699 | -19.8% |
| Income taxes | 67/77 | €7,100 | €16,393 | +€9,293 | +130.9% |
| Profit (loss) for the period | 9904 | €57,104 | €35,112 | -€21,992 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €57,104 | €35,112 | -€21,992 | -38.5% |
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 1 October 2026 via checked.be.