TITOU: 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.
TITOU
Largest movements
- Receivables within one year +€74,882
up €74,882 (+311.8%), from €24,016 to €98,898
of which Trade receivables: +€54,756
- Stocks and contracts +€23,272
up €23,272 (+23.3%), from €100,041 to €123,312
- Cash -€14,375
down €14,375 (-16.0%), from €89,764 to €75,390
mainly Receivables within one year (-€74,882) and Stocks and contracts (-€23,272)
- Deferred charges and accrued income +€3,345
new in 2025: €3,345
- Trade debts +€35,629
up €35,629 (+88.1%), from €40,461 to €76,090
- Profit (loss) carried forward +€26,200
up €26,200 (+15.6%), from €168,246 to €194,446
- Tax, wage and social debts +€12,486
up €12,486 (+41.4%), from €30,164 to €42,650
of which Taxes: +€8,654
- Other debts +€9,680
new in 2025: €9,680
- Gross operating margin -€49,337
down €49,337 (-42.7%), from €115,482 to €66,144
- Taxes -€20,952
down €20,952 (-70.7%), from €29,615 to €8,663
- Other operating charges +€13,137
up €13,137 (+803.8%), from €1,634 to €14,771
- Depreciation +€6,080
up €6,080 (+86.2%), from €7,049 to €13,129
- Financial charges +€2,560
up €2,560 (+311.5%), from €822 to €3,381
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 | €246,731 | €330,726 | +€83,995 | +34.0% |
| Fixed assets | 21/28 | €32,910 | €29,781 | -€3,129 | -9.5% |
| Tangible fixed assets | 22/27 | €29,887 | €26,759 | -€3,129 | -10.5% |
| Land and buildings | 22 | €2,484 | €10,559 | +€8,076 | +325.1% |
| Plant, machinery and equipment | 23 | €132 | €0 | -€132 | -100.0% |
| Furniture and vehicles | 24 | €27,271 | €16,199 | -€11,072 | -40.6% |
| Financial fixed assets | 28 | €3,022 | €3,022 | = | 0.0% |
| Current assets | 29/58 | €213,821 | €300,945 | +€87,124 | +40.7% |
| Stocks and contracts in progress | 3 | €100,041 | €123,312 | +€23,272 | +23.3% |
| Stocks | 30/36 | €100,041 | €123,312 | +€23,272 | +23.3% |
| Amounts receivable within one year | 40/41 | €24,016 | €98,898 | +€74,882 | +311.8% |
| Trade receivables | 40 | - | €54,756 | +€54,756 | |
| Other amounts receivable | 41 | €24,016 | €44,142 | +€20,126 | +83.8% |
| Cash at bank and in hand | 54/58 | €89,764 | €75,390 | -€14,375 | -16.0% |
| Deferred charges and accrued income | 490/1 | - | €3,345 | +€3,345 | |
| Total equity and liabilities | 10/49 | €246,731 | €330,726 | +€83,995 | +34.0% |
| Equity | 10/15 | €176,106 | €202,306 | +€26,200 | +14.9% |
| Contributions | 10/11 | €600 | €600 | = | 0.0% |
| Reserves | 13 | €7,260 | €7,260 | = | 0.0% |
| Distributable reserves | 133 | €7,260 | €7,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €168,246 | €194,446 | +€26,200 | +15.6% |
| Amounts payable | 17/49 | €70,625 | €128,420 | +€57,795 | +81.8% |
| Amounts payable within one year | 42/48 | €70,625 | €128,420 | +€57,795 | +81.8% |
| Trade debts | 44 | €40,461 | €76,090 | +€35,629 | +88.1% |
| Suppliers | 440/4 | €40,461 | €76,090 | +€35,629 | +88.1% |
| Taxes, remuneration and social security | 45 | €30,164 | €42,650 | +€12,486 | +41.4% |
| Taxes | 450/3 | €30,164 | €38,818 | +€8,654 | +28.7% |
| Remuneration and social security | 454/9 | - | €3,832 | +€3,832 | |
| Other amounts payable | 47/48 | - | €9,680 | +€9,680 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,049 | €13,129 | +€6,080 | +86.2% |
| Other operating charges | 640/8 | €1,634 | €14,771 | +€13,137 | +803.8% |
| Gross operating margin | 9900 | €115,482 | €66,144 | -€49,337 | -42.7% |
| Operating profit (loss) | 9901 | €106,798 | €38,245 | -€68,554 | -64.2% |
| Financial income | 75/76B | €706 | €0 | -€706 | -100.0% |
| Recurring financial income | 75 | €706 | €0 | -€706 | -100.0% |
| Financial charges | 65/66B | €822 | €3,381 | +€2,560 | +311.5% |
| Recurring financial charges | 65 | €822 | €3,381 | +€2,560 | +311.5% |
| Profit (loss) for the period before taxes | 9903 | €106,683 | €34,863 | -€71,820 | -67.3% |
| Income taxes | 67/77 | €29,615 | €8,663 | -€20,952 | -70.7% |
| Profit (loss) for the period | 9904 | €77,068 | €26,200 | -€50,867 | -66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,068 | €26,200 | -€50,867 | -66.0% |
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 7 October 2026 via checked.be.