TIVAN: 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.
TIVAN
Largest movements
- Receivables within one year -€563,199
down €563,199 (-71.0%), from €793,055 to €229,855
of which Trade receivables: -€452,319
- Cash +€68,815
up €68,815 (+139.1%), from €49,456 to €118,270
mainly Receivables within one year (+€563,199) and Depreciation (+€15,747)
- Tangible fixed assets -€15,747
down €15,747 (-26.0%), from €60,451 to €44,705
of which Furniture and vehicles: -€15,385
- Stocks and contracts +€10,000
up €10,000 (+50.0%), from €20,000 to €30,000
- Trade debts -€398,991
down €398,991 (-74.9%), from €532,407 to €133,416
- Profit (loss) carried forward -€120,754
no longer reported in 2025 (was €120,754)
- Reserves +€73,155
up €73,155 (+45.7%), from €160,132 to €233,287
of which Distributable reserves: +€73,155
- Tax, wage and social debts -€29,239
no longer reported in 2025 (was €29,239)
- Other debts -€26,603
down €26,603 (-35.6%), from €74,665 to €48,062
- Gross operating margin -€147,494
down €147,494, from €123,640 to -€23,854
- Taxes -€17,437
down €17,437 (-69.8%), from €24,980 to €7,543
- Depreciation +€2,264
up €2,264 (+16.8%), from €13,483 to €15,747
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 | €935,789 | €433,358 | -€502,431 | -53.7% |
| Fixed assets | 21/28 | €70,451 | €54,705 | -€15,747 | -22.4% |
| Intangible fixed assets | 21 | €10,000 | €10,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €60,451 | €44,705 | -€15,747 | -26.0% |
| Plant, machinery and equipment | 23 | €361 | - | -€361 | |
| Furniture and vehicles | 24 | €60,090 | €44,705 | -€15,385 | -25.6% |
| Current assets | 29/58 | €865,337 | €378,653 | -€486,685 | -56.2% |
| Stocks and contracts in progress | 3 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Stocks | 30/36 | €20,000 | €30,000 | +€10,000 | +50.0% |
| Amounts receivable within one year | 40/41 | €793,055 | €229,855 | -€563,199 | -71.0% |
| Trade receivables | 40 | €640,111 | €187,792 | -€452,319 | -70.7% |
| Other amounts receivable | 41 | €152,944 | €42,063 | -€110,881 | -72.5% |
| Cash at bank and in hand | 54/58 | €49,456 | €118,270 | +€68,815 | +139.1% |
| Deferred charges and accrued income | 490/1 | €2,827 | €527 | -€2,300 | -81.4% |
| Total equity and liabilities | 10/49 | €935,789 | €433,358 | -€502,431 | -53.7% |
| Equity | 10/15 | €299,478 | €251,879 | -€47,599 | -15.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €160,132 | €233,287 | +€73,155 | +45.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Other | 1319 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €158,273 | €231,428 | +€73,155 | +46.2% |
| Profit (loss) carried forward | 14 | €120,754 | - | -€120,754 | |
| Amounts payable | 17/49 | €636,311 | €181,478 | -€454,832 | -71.5% |
| Amounts payable within one year | 42/48 | €636,311 | €181,478 | -€454,832 | -71.5% |
| Trade debts | 44 | €532,407 | €133,416 | -€398,991 | -74.9% |
| Suppliers | 440/4 | €532,407 | €133,416 | -€398,991 | -74.9% |
| Taxes, remuneration and social security | 45 | €29,239 | - | -€29,239 | |
| Taxes | 450/3 | €29,239 | - | -€29,239 | |
| Other amounts payable | 47/48 | €74,665 | €48,062 | -€26,603 | -35.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,483 | €15,747 | +€2,264 | +16.8% |
| Other operating charges | 640/8 | €1,411 | €400 | -€1,011 | -71.7% |
| Gross operating margin | 9900 | €123,640 | -€23,854 | -€147,494 | |
| Operating profit (loss) | 9901 | €108,747 | -€40,000 | -€148,747 | |
| Financial income | 75/76B | €35 | €105 | +€70 | +196.0% |
| Recurring financial income | 75 | €35 | €105 | +€70 | +196.0% |
| Financial charges | 65/66B | €336 | €161 | -€175 | -52.0% |
| Recurring financial charges | 65 | €336 | €161 | -€175 | -52.0% |
| Profit (loss) for the period before taxes | 9903 | €108,446 | -€40,056 | -€148,503 | |
| Income taxes | 67/77 | €24,980 | €7,543 | -€17,437 | -69.8% |
| Profit (loss) for the period | 9904 | €83,466 | -€47,599 | -€131,065 | |
| Profit (loss) for the period to be appropriated | 9905 | €83,466 | -€47,599 | -€131,065 |
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 6 October 2026 via checked.be.