Titi & Koe: 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.
Titi & Koe
Largest movements
- Tangible fixed assets +€375,152
up €375,152 (+14,347%), from €2,615 to €377,767
of which Land and buildings: +€376,267
- Deferred charges and accrued income +€253,666
up €253,666 (+73,042%), from €347 to €254,014
- Cash -€65,120
down €65,120 (-78.8%), from €82,622 to €17,501
mainly Investment in fixed assets (net) (-€379,965) and Deferred charges and accrued income (-€253,666)
- Debts after one year +€513,585
new in 2025: €513,585
- Current portion of long-term debt +€27,513
new in 2025: €27,513
- Reserves +€22,776
new in 2025: €22,776
- Tax, wage and social debts +€7,638
up €7,638 (+30.3%), from €25,194 to €32,832
of which Taxes: +€7,958
- Gross operating margin -€48,994
down €48,994 (-35.8%), from €136,775 to €87,781
- Staff costs -€16,440
down €16,440 (-26.8%), from €61,316 to €44,876
- Financial charges +€6,910
up €6,910 (+4,660%), from €148 to €7,059
- Taxes -€6,325
down €6,325 (-42.5%), from €14,885 to €8,559
- Depreciation +€4,085
up €4,085 (+561%), from €728 to €4,813
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 | €94,866 | €663,777 | +€568,912 | +600% |
| Fixed assets | 21/28 | €2,615 | €377,767 | +€375,152 | +14,347% |
| Tangible fixed assets | 22/27 | €2,615 | €377,767 | +€375,152 | +14,347% |
| Land and buildings | 22 | - | €376,267 | +€376,267 | |
| Plant, machinery and equipment | 23 | €1,901 | €1,088 | -€813 | -42.8% |
| Furniture and vehicles | 24 | €714 | €412 | -€302 | -42.3% |
| Current assets | 29/58 | €92,251 | €286,010 | +€193,759 | +210% |
| Amounts receivable within one year | 40/41 | €9,282 | €14,495 | +€5,214 | +56.2% |
| Trade receivables | 40 | €9,282 | €9,778 | +€497 | +5.3% |
| Other amounts receivable | 41 | - | €4,717 | +€4,717 | |
| Cash at bank and in hand | 54/58 | €82,622 | €17,501 | -€65,120 | -78.8% |
| Deferred charges and accrued income | 490/1 | €347 | €254,014 | +€253,666 | +73,042% |
| Total equity and liabilities | 10/49 | €94,866 | €663,777 | +€568,912 | +600% |
| Equity | 10/15 | €64,389 | €87,165 | +€22,776 | +35.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €22,776 | +€22,776 | |
| Distributable reserves | 133 | - | €22,776 | +€22,776 | |
| Profit (loss) carried forward | 14 | €59,389 | €59,389 | +€0 | 0.0% |
| Amounts payable | 17/49 | €30,477 | €576,613 | +€546,136 | +1,792% |
| Amounts payable after more than one year | 17 | - | €513,585 | +€513,585 | |
| Financial debts | 170/4 | - | €513,585 | +€513,585 | |
| Amounts payable within one year | 42/48 | €30,477 | €63,028 | +€32,551 | +107% |
| Current portion of amounts payable after more than one year | 42 | - | €27,513 | +€27,513 | |
| Trade debts | 44 | €243 | €332 | +€89 | +36.8% |
| Suppliers | 440/4 | €243 | €332 | +€89 | +36.8% |
| Taxes, remuneration and social security | 45 | €25,194 | €32,832 | +€7,638 | +30.3% |
| Taxes | 450/3 | €15,486 | €23,444 | +€7,958 | +51.4% |
| Remuneration and social security | 454/9 | €9,707 | €9,388 | -€320 | -3.3% |
| Other amounts payable | 47/48 | €5,040 | €2,350 | -€2,690 | -53.4% |
| Remuneration, social security and pensions | 62 | €61,316 | €44,876 | -€16,440 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €728 | €4,813 | +€4,085 | +561% |
| Other operating charges | 640/8 | €457 | €124 | -€333 | -72.9% |
| Gross operating margin | 9900 | €136,775 | €87,781 | -€48,994 | -35.8% |
| Operating profit (loss) | 9901 | €74,274 | €37,968 | -€36,306 | -48.9% |
| Financial income | 75/76B | €148 | €426 | +€278 | +187% |
| Recurring financial income | 75 | €148 | €426 | +€278 | +187% |
| Financial charges | 65/66B | €148 | €7,059 | +€6,910 | +4,660% |
| Recurring financial charges | 65 | €148 | €7,059 | +€6,910 | +4,660% |
| Profit (loss) for the period before taxes | 9903 | €74,274 | €31,335 | -€42,938 | -57.8% |
| Income taxes | 67/77 | €14,885 | €8,559 | -€6,325 | -42.5% |
| Profit (loss) for the period | 9904 | €59,389 | €22,776 | -€36,613 | -61.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,389 | €22,776 | -€36,613 | -61.6% |
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 31 October 2026 via checked.be.