TIVAN: 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.
TIVAN
Largest movements
- Receivables within one year -€42,658
down €42,658 (-76.4%), from €55,864 to €13,206
of which Trade receivables: -€37,749
- Tangible fixed assets -€30,085
down €30,085 (-6.9%), from €436,663 to €406,577
of which Land and buildings: -€22,221
- Cash -€5,657
down €5,657 (-29.1%), from €19,462 to €13,805
mainly Debts after one year (-€51,823) and Trade debts (-€27,782)
- Debts after one year -€51,823
down €51,823 (-22.4%), from €231,267 to €179,445
of which Financial debts: -€51,823
- Trade debts -€27,782
down €27,782 (-44.2%), from €62,880 to €35,098
- Tax, wage and social debts +€6,637
up €6,637 (+101.4%), from €6,545 to €13,182
of which Remuneration and social security: +€7,133
- Gross operating margin -€25,488
down €25,488 (-15.6%), from €162,980 to €137,492
- Staff costs -€7,680
down €7,680 (-9.9%), from €77,407 to €69,727
- Financial charges -€4,231
down €4,231 (-26.2%), from €16,176 to €11,945
- Taxes -€3,465
down €3,465 (-85.1%), from €4,073 to €608
- Depreciation -€2,518
down €2,518 (-4.9%), from €51,500 to €48,982
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 | €539,349 | €464,393 | -€74,956 | -13.9% |
| Fixed assets | 21/28 | €436,663 | €406,577 | -€30,085 | -6.9% |
| Tangible fixed assets | 22/27 | €436,663 | €406,577 | -€30,085 | -6.9% |
| Land and buildings | 22 | €258,241 | €236,020 | -€22,221 | -8.6% |
| Plant, machinery and equipment | 23 | €102,700 | €92,653 | -€10,047 | -9.8% |
| Furniture and vehicles | 24 | €11,766 | €14,464 | +€2,698 | +22.9% |
| Other tangible fixed assets | 26 | €63,956 | €63,440 | -€516 | -0.8% |
| Current assets | 29/58 | €102,686 | €57,815 | -€44,870 | -43.7% |
| Stocks and contracts in progress | 3 | €21,760 | €24,137 | +€2,377 | +10.9% |
| Stocks | 30/36 | €21,760 | €24,137 | +€2,377 | +10.9% |
| Amounts receivable within one year | 40/41 | €55,864 | €13,206 | -€42,658 | -76.4% |
| Trade receivables | 40 | €44,717 | €6,967 | -€37,749 | -84.4% |
| Other amounts receivable | 41 | €11,147 | €6,239 | -€4,909 | -44.0% |
| Cash at bank and in hand | 54/58 | €19,462 | €13,805 | -€5,657 | -29.1% |
| Deferred charges and accrued income | 490/1 | €5,600 | €6,668 | +€1,068 | +19.1% |
| Total equity and liabilities | 10/49 | €539,349 | €464,393 | -€74,956 | -13.9% |
| Equity | 10/15 | €163,211 | €160,094 | -€3,117 | -1.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €115,276 | €115,276 | = | 0.0% |
| Tax-exempt reserves | 132 | €40,276 | €40,276 | = | 0.0% |
| Distributable reserves | 133 | €75,000 | €75,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,738 | €21,957 | -€2,781 | -11.2% |
| Investment grants | 15 | €2,737 | €2,401 | -€336 | -12.3% |
| Amounts payable | 17/49 | €376,138 | €304,299 | -€71,839 | -19.1% |
| Amounts payable after more than one year | 17 | €231,267 | €179,445 | -€51,823 | -22.4% |
| Financial debts | 170/4 | €226,767 | €174,945 | -€51,823 | -22.9% |
| Other amounts payable | 178/9 | €4,500 | €4,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €144,871 | €124,855 | -€20,016 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €50,625 | €51,823 | +€1,198 | +2.4% |
| Trade debts | 44 | €62,880 | €35,098 | -€27,782 | -44.2% |
| Suppliers | 440/4 | €62,880 | €35,098 | -€27,782 | -44.2% |
| Taxes, remuneration and social security | 45 | €6,545 | €13,182 | +€6,637 | +101.4% |
| Taxes | 450/3 | €3,135 | €2,640 | -€496 | -15.8% |
| Remuneration and social security | 454/9 | €3,410 | €10,543 | +€7,133 | +209.2% |
| Other amounts payable | 47/48 | €24,821 | €24,751 | -€70 | -0.3% |
| Remuneration, social security and pensions | 62 | €77,407 | €69,727 | -€7,680 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,500 | €48,982 | -€2,518 | -4.9% |
| Other operating charges | 640/8 | €7,529 | €7,821 | +€291 | +3.9% |
| Non-recurring operating charges | 66A | - | €1,570 | +€1,570 | |
| Gross operating margin | 9900 | €162,980 | €137,492 | -€25,488 | -15.6% |
| Operating profit (loss) | 9901 | €26,543 | €9,393 | -€17,150 | -64.6% |
| Financial income | 75/76B | €361 | €379 | +€18 | +4.9% |
| Recurring financial income | 75 | €361 | €379 | +€18 | +4.9% |
| Financial charges | 65/66B | €16,176 | €11,945 | -€4,231 | -26.2% |
| Recurring financial charges | 65 | €16,176 | €11,945 | -€4,231 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €10,728 | -€2,173 | -€12,902 | |
| Income taxes | 67/77 | €4,073 | €608 | -€3,465 | -85.1% |
| Profit (loss) for the period | 9904 | €6,656 | -€2,781 | -€9,436 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,656 | -€2,781 | -€9,436 |
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 9 October 2026 via checked.be.