TITIUS: 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.
TITIUS
Largest movements
- Stocks and contracts -€90,494
down €90,494 (-38.4%), from €235,410 to €144,916
- Receivables within one year +€72,505
up €72,505 (+109.9%), from €65,949 to €138,455
of which Trade receivables: +€82,074
- Cash -€66,936
down €66,936 (-31.5%), from €212,497 to €145,560
mainly Contributions, distributions and other (-€212,000) and Receivables within one year (-€72,505)
- Tangible fixed assets -€6,189
down €6,189 (-33.8%), from €18,301 to €12,112
of which Furniture and vehicles: -€6,189
- Reserves -€153,000
down €153,000 (-64.0%), from €239,100 to €86,100
- Debts after one year +€62,500
up €62,500 (+25.8%), from €241,892 to €304,392
- Tax, wage and social debts +€6,148
up €6,148 (+43.8%), from €14,030 to €20,178
- Write-downs -€41,489
new in 2025: -€41,489
- Taxes +€14,579
up €14,579 (+239.1%), from €6,098 to €20,677
- Gross operating margin +€3,480
up €3,480 (+7.1%), from €49,289 to €52,769
- Financial charges -€1,849
down €1,849 (-19.2%), from €9,655 to €7,806
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 | €535,430 | €443,842 | -€91,588 | -17.1% |
| Fixed assets | 21/28 | €18,301 | €12,112 | -€6,189 | -33.8% |
| Tangible fixed assets | 22/27 | €18,301 | €12,112 | -€6,189 | -33.8% |
| Plant, machinery and equipment | 23 | - | €0 | = | |
| Furniture and vehicles | 24 | €18,301 | €12,112 | -€6,189 | -33.8% |
| Current assets | 29/58 | €517,129 | €431,731 | -€85,398 | -16.5% |
| Stocks and contracts in progress | 3 | €235,410 | €144,916 | -€90,494 | -38.4% |
| Stocks | 30/36 | €235,410 | €144,916 | -€90,494 | -38.4% |
| Amounts receivable within one year | 40/41 | €65,949 | €138,455 | +€72,505 | +109.9% |
| Trade receivables | 40 | €52,059 | €134,133 | +€82,074 | +157.7% |
| Other amounts receivable | 41 | €13,890 | €4,321 | -€9,569 | -68.9% |
| Cash at bank and in hand | 54/58 | €212,497 | €145,560 | -€66,936 | -31.5% |
| Deferred charges and accrued income | 490/1 | €3,273 | €2,799 | -€474 | -14.5% |
| Total equity and liabilities | 10/49 | €535,430 | €443,842 | -€91,588 | -17.1% |
| Equity | 10/15 | €257,831 | €104,737 | -€153,094 | -59.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €239,100 | €86,100 | -€153,000 | -64.0% |
| Distributable reserves | 133 | €239,100 | €86,100 | -€153,000 | -64.0% |
| Profit (loss) carried forward | 14 | €131 | €37 | -€94 | -71.9% |
| Amounts payable | 17/49 | €277,599 | €339,105 | +€61,507 | +22.2% |
| Amounts payable after more than one year | 17 | €241,892 | €304,392 | +€62,500 | +25.8% |
| Financial debts | 170/4 | €241,892 | €304,392 | +€62,500 | +25.8% |
| Amounts payable within one year | 42/48 | €26,190 | €27,133 | +€943 | +3.6% |
| Trade debts | 44 | €6,341 | €1,014 | -€5,328 | -84.0% |
| Suppliers | 440/4 | €6,341 | €1,014 | -€5,328 | -84.0% |
| Taxes, remuneration and social security | 45 | €14,030 | €20,178 | +€6,148 | +43.8% |
| Taxes | 450/3 | €14,030 | €20,178 | +€6,148 | +43.8% |
| Other amounts payable | 47/48 | €5,819 | €5,942 | +€123 | +2.1% |
| Accrued charges and deferred income | 492/3 | €9,518 | €7,581 | -€1,937 | -20.3% |
| Remuneration, social security and pensions | 62 | - | €210 | +€210 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,899 | €6,189 | +€290 | +4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€41,489 | -€41,489 | |
| Other operating charges | 640/8 | €584 | €779 | +€195 | +33.5% |
| Gross operating margin | 9900 | €49,289 | €52,769 | +€3,480 | +7.1% |
| Operating profit (loss) | 9901 | €42,807 | €87,080 | +€44,274 | +103.4% |
| Financial income | 75/76B | €81 | €308 | +€228 | +282.8% |
| Recurring financial income | 75 | €81 | €308 | +€228 | +282.8% |
| Financial charges | 65/66B | €9,655 | €7,806 | -€1,849 | -19.2% |
| Recurring financial charges | 65 | €9,655 | €7,806 | -€1,849 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €33,232 | €79,583 | +€46,351 | +139.5% |
| Income taxes | 67/77 | €6,098 | €20,677 | +€14,579 | +239.1% |
| Profit (loss) for the period | 9904 | €27,134 | €58,906 | +€31,772 | +117.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,134 | €58,906 | +€31,772 | +117.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.