TIVECON: 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.
TIVECON
Largest movements
- Cash +€17,659
up €17,659 (+66.9%), from €26,397 to €44,056
mainly Net result for the year (+€37,700) and Other debts (+€978)
- Tangible fixed assets +€8,145
new in 2025: €8,145
of which Other tangible fixed assets: +€5,290
- Receivables within one year +€1,519
up €1,519 (+10.5%), from €14,520 to €16,039
- Reserves +€37,500
up €37,500 (+214%), from €17,500 to €55,000
- Tax, wage and social debts -€10,168
down €10,168 (-62.5%), from €16,267 to €6,099
- Trade debts -€1,187
no longer reported in 2025 (was €1,187)
- Other debts +€978
up €978 (+12,698%), from €8 to €985
- Gross operating margin +€25,723
up €25,723 (+104%), from €24,753 to €50,475
- Taxes +€5,545
up €5,545 (+111%), from €5,000 to €10,545
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 | €41,459 | €68,782 | +€27,323 | +65.9% |
| Fixed assets | 21/28 | - | €8,145 | +€8,145 | |
| Tangible fixed assets | 22/27 | - | €8,145 | +€8,145 | |
| Plant, machinery and equipment | 23 | - | €2,855 | +€2,855 | |
| Other tangible fixed assets | 26 | - | €5,290 | +€5,290 | |
| Current assets | 29/58 | €41,459 | €60,637 | +€19,178 | +46.3% |
| Amounts receivable within one year | 40/41 | €14,520 | €16,039 | +€1,519 | +10.5% |
| Trade receivables | 40 | €14,520 | €16,039 | +€1,519 | +10.5% |
| Cash at bank and in hand | 54/58 | €26,397 | €44,056 | +€17,659 | +66.9% |
| Deferred charges and accrued income | 490/1 | €542 | €542 | = | 0.0% |
| Total equity and liabilities | 10/49 | €41,459 | €68,782 | +€27,323 | +65.9% |
| Equity | 10/15 | €22,998 | €60,697 | +€37,700 | +164% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,500 | €55,000 | +€37,500 | +214% |
| Distributable reserves | 133 | €17,500 | €55,000 | +€37,500 | +214% |
| Profit (loss) carried forward | 14 | €498 | €697 | +€200 | +40.1% |
| Amounts payable | 17/49 | €18,461 | €8,084 | -€10,377 | -56.2% |
| Amounts payable within one year | 42/48 | €17,461 | €7,084 | -€10,377 | -59.4% |
| Trade debts | 44 | €1,187 | - | -€1,187 | |
| Suppliers | 440/4 | €1,187 | - | -€1,187 | |
| Taxes, remuneration and social security | 45 | €16,267 | €6,099 | -€10,168 | -62.5% |
| Taxes | 450/3 | €16,267 | €6,099 | -€10,168 | -62.5% |
| Other amounts payable | 47/48 | €8 | €985 | +€978 | +12,698% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €474 | +€474 | |
| Other operating charges | 640/8 | €475 | €186 | -€290 | -60.9% |
| Gross operating margin | 9900 | €24,753 | €50,475 | +€25,723 | +104% |
| Operating profit (loss) | 9901 | €24,278 | €49,816 | +€25,538 | +105% |
| Financial income | 75/76B | €0 | €12 | +€11 | +57,400% |
| Recurring financial income | 75 | €0 | €12 | +€11 | +57,400% |
| Financial charges | 65/66B | €1,280 | €1,583 | +€303 | +23.6% |
| Recurring financial charges | 65 | €1,280 | €1,583 | +€303 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | €22,998 | €48,245 | +€25,247 | +110% |
| Income taxes | 67/77 | €5,000 | €10,545 | +€5,545 | +111% |
| Profit (loss) for the period | 9904 | €17,998 | €37,700 | +€19,702 | +109% |
| Profit (loss) for the period to be appropriated | 9905 | €17,998 | €37,700 | +€19,702 | +109% |
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 17 October 2026 via checked.be.