Tivato: 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.
Tivato
Largest movements
- Current investments +€76,000
new in 2025: €76,000
- Cash -€57,360
down €57,360 (-30.4%), from €188,931 to €131,571
mainly Current investments (-€76,000) and Contributions, distributions and other (-€20,000)
- Reserves +€31,708
up €31,708 (+17.6%), from €180,484 to €212,193
- Debts after one year -€8,875
down €8,875 (-85.6%), from €10,371 to €1,496
- Tax, wage and social debts -€4,661
down €4,661 (-14.3%), from €32,699 to €28,038
- Gross operating margin -€13,062
down €13,062 (-13.9%), from €93,843 to €80,781
- Taxes -€2,824
down €2,824 (-17.2%), from €16,390 to €13,566
- Depreciation +€1,330
up €1,330 (+10.4%), from €12,779 to €14,110
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 | €250,276 | €269,542 | +€19,265 | +7.7% |
| Fixed assets | 21/28 | €25,093 | €24,499 | -€594 | -2.4% |
| Tangible fixed assets | 22/27 | €25,093 | €24,499 | -€594 | -2.4% |
| Plant, machinery and equipment | 23 | €4,619 | €2,749 | -€1,870 | -40.5% |
| Furniture and vehicles | 24 | €20,474 | €21,750 | +€1,276 | +6.2% |
| Current assets | 29/58 | €225,183 | €245,043 | +€19,859 | +8.8% |
| Amounts receivable within one year | 40/41 | €36,240 | €36,627 | +€387 | +1.1% |
| Trade receivables | 40 | €36,240 | €35,151 | -€1,089 | -3.0% |
| Other amounts receivable | 41 | - | €1,476 | +€1,476 | |
| Current investments | 50/53 | - | €76,000 | +€76,000 | |
| Cash at bank and in hand | 54/58 | €188,931 | €131,571 | -€57,360 | -30.4% |
| Deferred charges and accrued income | 490/1 | €13 | €845 | +€832 | +6,497% |
| Total equity and liabilities | 10/49 | €250,276 | €269,542 | +€19,265 | +7.7% |
| Equity | 10/15 | €183,484 | €215,193 | +€31,708 | +17.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €180,484 | €212,193 | +€31,708 | +17.6% |
| Distributable reserves | 133 | €180,484 | €212,193 | +€31,708 | +17.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €66,792 | €54,349 | -€12,443 | -18.6% |
| Amounts payable after more than one year | 17 | €10,371 | €1,496 | -€8,875 | -85.6% |
| Financial debts | 170/4 | €10,371 | €1,496 | -€8,875 | -85.6% |
| Amounts payable within one year | 42/48 | €52,135 | €48,895 | -€3,240 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €8,702 | €8,875 | +€173 | +2.0% |
| Trade debts | 44 | €324 | €923 | +€599 | +185% |
| Suppliers | 440/4 | €324 | €923 | +€599 | +185% |
| Taxes, remuneration and social security | 45 | €32,699 | €28,038 | -€4,661 | -14.3% |
| Taxes | 450/3 | €32,699 | €28,038 | -€4,661 | -14.3% |
| Other amounts payable | 47/48 | €10,410 | €11,059 | +€649 | +6.2% |
| Accrued charges and deferred income | 492/3 | €4,285 | €3,957 | -€328 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,779 | €14,110 | +€1,330 | +10.4% |
| Other operating charges | 640/8 | €204 | €610 | +€405 | +198% |
| Gross operating margin | 9900 | €93,843 | €80,781 | -€13,062 | -13.9% |
| Operating profit (loss) | 9901 | €80,859 | €66,061 | -€14,798 | -18.3% |
| Financial income | 75/76B | - | €493 | +€493 | |
| Recurring financial income | 75 | - | €493 | +€493 | |
| Financial charges | 65/66B | €1,489 | €1,280 | -€209 | -14.0% |
| Recurring financial charges | 65 | €1,489 | €1,280 | -€209 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €79,370 | €65,275 | -€14,095 | -17.8% |
| Income taxes | 67/77 | €16,390 | €13,566 | -€2,824 | -17.2% |
| Profit (loss) for the period | 9904 | €62,980 | €51,708 | -€11,272 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €62,980 | €51,708 | -€11,272 | -17.9% |
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 14 October 2026 via checked.be.