TIVADRI: 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.
TIVADRI
Largest movements
- Cash -€14,474
down €14,474 (-16.2%), from €89,480 to €75,006
mainly Contributions, distributions and other (-€50,000) and Receivables within one year (-€13,728)
- Receivables within one year +€13,728
up €13,728 (+15.3%), from €89,973 to €103,701
of which Trade receivables: +€13,648
- Reserves -€4,500
down €4,500 (-3.0%), from €152,000 to €147,500
- Financial charges +€1,941
up €1,941 (+48.7%), from €3,985 to €5,926
- Taxes -€707
down €707 (-5.4%), from €13,127 to €12,420
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 | €182,237 | €181,377 | -€861 | -0.5% |
| Fixed assets | 21/28 | €1,917 | €1,760 | -€157 | -8.2% |
| Tangible fixed assets | 22/27 | €1,917 | €1,760 | -€157 | -8.2% |
| Plant, machinery and equipment | 23 | €1,696 | €763 | -€933 | -55.0% |
| Furniture and vehicles | 24 | €221 | €997 | +€776 | +352% |
| Current assets | 29/58 | €180,320 | €179,617 | -€704 | -0.4% |
| Amounts receivable within one year | 40/41 | €89,973 | €103,701 | +€13,728 | +15.3% |
| Trade receivables | 40 | €89,973 | €103,621 | +€13,648 | +15.2% |
| Other amounts receivable | 41 | €0 | €80 | +€80 | |
| Cash at bank and in hand | 54/58 | €89,480 | €75,006 | -€14,474 | -16.2% |
| Deferred charges and accrued income | 490/1 | €868 | €910 | +€43 | +4.9% |
| Total equity and liabilities | 10/49 | €182,237 | €181,377 | -€861 | -0.5% |
| Equity | 10/15 | €153,076 | €148,647 | -€4,429 | -2.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €152,000 | €147,500 | -€4,500 | -3.0% |
| Distributable reserves | 133 | €152,000 | €147,500 | -€4,500 | -3.0% |
| Profit (loss) carried forward | 14 | €76 | €147 | +€71 | +93.6% |
| Amounts payable | 17/49 | €29,161 | €32,729 | +€3,568 | +12.2% |
| Amounts payable within one year | 42/48 | €29,011 | €32,579 | +€3,568 | +12.3% |
| Trade debts | 44 | €498 | €1,914 | +€1,415 | +284% |
| Suppliers | 440/4 | €498 | €1,914 | +€1,415 | +284% |
| Advances received on contracts in progress | 46 | - | €1,163 | +€1,163 | |
| Taxes, remuneration and social security | 45 | €4,326 | €4,937 | +€611 | +14.1% |
| Taxes | 450/3 | €4,326 | €4,337 | +€11 | +0.2% |
| Remuneration and social security | 454/9 | - | €600 | +€600 | |
| Other amounts payable | 47/48 | €24,187 | €24,566 | +€379 | +1.6% |
| Accrued charges and deferred income | 492/3 | €150 | €150 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,350 | €1,198 | -€152 | -11.3% |
| Other operating charges | 640/8 | €913 | €544 | -€369 | -40.4% |
| Gross operating margin | 9900 | €65,862 | €65,659 | -€204 | -0.3% |
| Operating profit (loss) | 9901 | €63,599 | €63,917 | +€318 | +0.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,985 | €5,926 | +€1,941 | +48.7% |
| Recurring financial charges | 65 | €3,985 | €5,926 | +€1,941 | +48.7% |
| Profit (loss) for the period before taxes | 9903 | €59,614 | €57,991 | -€1,623 | -2.7% |
| Income taxes | 67/77 | €13,127 | €12,420 | -€707 | -5.4% |
| Profit (loss) for the period | 9904 | €46,488 | €45,571 | -€916 | -2.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,488 | €45,571 | -€916 | -2.0% |
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 26 October 2026 via checked.be.