Tivala: 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.
Tivala
Largest movements
- Receivables after one year +€35,160
up €35,160 (+78.1%), from €45,000 to €80,160
- Receivables within one year +€16,077
up €16,077 (+68.0%), from €23,645 to €39,722
of which Trade receivables: +€15,209
- Cash +€5,002
up €5,002 (+84.5%), from €5,919 to €10,921
mainly Net result for the year (+€24,842) and Tax, wage and social debts (+€14,047)
- Deferred charges and accrued income +€2,798
up €2,798 (+124.4%), from €2,250 to €5,048
- Financial fixed assets +€2,600
new in 2025: €2,600
- Tax, wage and social debts +€14,047
up €14,047 (+127.0%), from €11,062 to €25,109
of which Remuneration and social security: +€9,165
- Other debts +€13,000
new in 2025: €13,000
- Debts after one year +€12,771
up €12,771 (+308.9%), from €4,134 to €16,906
- Short-term financial debts +€12,535
new in 2025: €12,535
- Reserves +€11,842
up €11,842 (+21.3%), from €55,701 to €67,543
- Gross operating margin +€57,277
up €57,277 (+137.4%), from €41,690 to €98,967
- Staff costs +€49,764
new in 2025: €49,764
- Depreciation -€11,422
down €11,422 (-73.6%), from €15,511 to €4,089
- Taxes +€5,390
up €5,390 (+61.4%), from €8,781 to €14,171
- Other operating charges +€1,738
up €1,738 (+77.2%), from €2,252 to €3,990
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 | €86,142 | €146,840 | +€60,698 | +70.5% |
| Fixed assets | 21/28 | €9,328 | €10,989 | +€1,661 | +17.8% |
| Tangible fixed assets | 22/27 | €9,328 | €8,389 | -€939 | -10.1% |
| Plant, machinery and equipment | 23 | €701 | €5,838 | +€5,137 | +732.9% |
| Furniture and vehicles | 24 | €4,051 | €2,551 | -€1,500 | -37.0% |
| Leasing and similar rights | 25 | €3,018 | - | -€3,018 | |
| Other tangible fixed assets | 26 | €1,558 | - | -€1,558 | |
| Financial fixed assets | 28 | - | €2,600 | +€2,600 | |
| Current assets | 29/58 | €76,814 | €135,851 | +€59,037 | +76.9% |
| Amounts receivable after more than one year | 29 | €45,000 | €80,160 | +€35,160 | +78.1% |
| Other amounts receivable | 291 | €45,000 | €80,160 | +€35,160 | +78.1% |
| Amounts receivable within one year | 40/41 | €23,645 | €39,722 | +€16,077 | +68.0% |
| Trade receivables | 40 | €13,915 | €29,124 | +€15,209 | +109.3% |
| Other amounts receivable | 41 | €9,730 | €10,599 | +€868 | +8.9% |
| Cash at bank and in hand | 54/58 | €5,919 | €10,921 | +€5,002 | +84.5% |
| Deferred charges and accrued income | 490/1 | €2,250 | €5,048 | +€2,798 | +124.4% |
| Total equity and liabilities | 10/49 | €86,142 | €146,840 | +€60,698 | +70.5% |
| Equity | 10/15 | €55,702 | €67,544 | +€11,842 | +21.3% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €55,701 | €67,543 | +€11,842 | +21.3% |
| Distributable reserves | 133 | €55,701 | €67,543 | +€11,842 | +21.3% |
| Amounts payable | 17/49 | €30,440 | €79,296 | +€48,855 | +160.5% |
| Amounts payable after more than one year | 17 | €4,134 | €16,906 | +€12,771 | +308.9% |
| Financial debts | 170/4 | €4,134 | €16,906 | +€12,771 | +308.9% |
| Amounts payable within one year | 42/48 | €26,306 | €62,390 | +€36,084 | +137.2% |
| Current portion of amounts payable after more than one year | 42 | €12,787 | €10,683 | -€2,103 | -16.5% |
| Financial debts | 43 | - | €12,535 | +€12,535 | |
| Credit institutions | 430/8 | - | €12,535 | +€12,535 | |
| Trade debts | 44 | €2,457 | €1,062 | -€1,395 | -56.8% |
| Suppliers | 440/4 | €2,457 | €1,062 | -€1,395 | -56.8% |
| Taxes, remuneration and social security | 45 | €11,062 | €25,109 | +€14,047 | +127.0% |
| Taxes | 450/3 | €11,062 | €15,945 | +€4,883 | +44.1% |
| Remuneration and social security | 454/9 | - | €9,165 | +€9,165 | |
| Other amounts payable | 47/48 | - | €13,000 | +€13,000 | |
| Remuneration, social security and pensions | 62 | - | €49,764 | +€49,764 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,511 | €4,089 | -€11,422 | -73.6% |
| Other operating charges | 640/8 | €2,252 | €3,990 | +€1,738 | +77.2% |
| Gross operating margin | 9900 | €41,690 | €98,967 | +€57,277 | +137.4% |
| Operating profit (loss) | 9901 | €23,927 | €41,124 | +€17,197 | +71.9% |
| Financial income | 75/76B | €960 | €648 | -€312 | -32.5% |
| Recurring financial income | 75 | €960 | €648 | -€312 | -32.5% |
| Financial charges | 65/66B | €1,968 | €2,760 | +€792 | +40.3% |
| Recurring financial charges | 65 | €1,968 | €2,760 | +€792 | +40.3% |
| Profit (loss) for the period before taxes | 9903 | €22,920 | €39,013 | +€16,093 | +70.2% |
| Income taxes | 67/77 | €8,781 | €14,171 | +€5,390 | +61.4% |
| Profit (loss) for the period | 9904 | €14,139 | €24,842 | +€10,703 | +75.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,139 | €24,842 | +€10,703 | +75.7% |
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 3 October 2026 via checked.be.