Tiverco: 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.
Tiverco
Largest movements
- Cash +€55,640
up €55,640 (+567%), from €9,818 to €65,458
mainly Net result for the year (+€51,515) and Tax, wage and social debts (+€16,065)
- Receivables within one year +€7,658
up €7,658 (+43.8%), from €17,469 to €25,127
of which Trade receivables: +€7,810
- Tangible fixed assets +€1,976
new in 2025: €1,976
- Formation expenses -€1,299
down €1,299 (-100%), from €1,299 to €0
- Profit (loss) carried forward +€50,682
up €50,682 (+563%), from €8,995 to €59,677
- Tax, wage and social debts +€16,065
up €16,065 (+153%), from €10,485 to €26,550
of which Taxes: +€16,065
- Other debts -€2,987
down €2,987 (-65.8%), from €4,542 to €1,554
- Gross operating margin +€58,450
up €58,450 (+454%), from €12,875 to €71,324
- Taxes +€11,449
up €11,449 (+416%), from €2,749 to €14,199
- Financial charges +€2,159
new in 2025: €2,159
- Other operating charges +€1,980
new in 2025: €1,980
- Depreciation +€1,243
up €1,243 (+458%), from €271 to €1,514
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 | €28,586 | €92,561 | +€63,975 | +224% |
| Formation expenses | 20 | €1,299 | €0 | -€1,299 | -100% |
| Fixed assets | 21/28 | - | €1,976 | +€1,976 | |
| Tangible fixed assets | 22/27 | - | €1,976 | +€1,976 | |
| Plant, machinery and equipment | 23 | - | €1,976 | +€1,976 | |
| Current assets | 29/58 | €27,287 | €90,585 | +€63,298 | +232% |
| Amounts receivable within one year | 40/41 | €17,469 | €25,127 | +€7,658 | +43.8% |
| Trade receivables | 40 | €17,315 | €25,125 | +€7,810 | +45.1% |
| Other amounts receivable | 41 | €154 | €2 | -€152 | -98.7% |
| Cash at bank and in hand | 54/58 | €9,818 | €65,458 | +€55,640 | +567% |
| Total equity and liabilities | 10/49 | €28,586 | €92,561 | +€63,975 | +224% |
| Equity | 10/15 | €12,995 | €63,677 | +€50,682 | +390% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,995 | €59,677 | +€50,682 | +563% |
| Amounts payable | 17/49 | €15,591 | €28,884 | +€13,293 | +85.3% |
| Amounts payable within one year | 42/48 | €15,591 | €28,884 | +€13,293 | +85.3% |
| Trade debts | 44 | €565 | €780 | +€215 | +38.1% |
| Suppliers | 440/4 | €565 | €780 | +€215 | +38.1% |
| Taxes, remuneration and social security | 45 | €10,485 | €26,550 | +€16,065 | +153% |
| Taxes | 450/3 | €8,146 | €24,211 | +€16,065 | +197% |
| Remuneration and social security | 454/9 | €2,339 | €2,339 | -€0 | 0.0% |
| Other amounts payable | 47/48 | €4,542 | €1,554 | -€2,987 | -65.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €271 | €1,514 | +€1,243 | +458% |
| Other operating charges | 640/8 | - | €1,980 | +€1,980 | |
| Gross operating margin | 9900 | €12,875 | €71,324 | +€58,450 | +454% |
| Operating profit (loss) | 9901 | €12,604 | €67,831 | +€55,227 | +438% |
| Financial income | 75/76B | - | €42 | +€42 | |
| Recurring financial income | 75 | - | €42 | +€42 | |
| Financial charges | 65/66B | - | €2,159 | +€2,159 | |
| Recurring financial charges | 65 | - | €2,159 | +€2,159 | |
| Profit (loss) for the period before taxes | 9903 | €12,604 | €65,714 | +€53,110 | +421% |
| Income taxes | 67/77 | €2,749 | €14,199 | +€11,449 | +416% |
| Profit (loss) for the period | 9904 | €9,854 | €51,515 | +€41,661 | +423% |
| Profit (loss) for the period to be appropriated | 9905 | €9,854 | €51,515 | +€41,661 | +423% |
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 15 October 2026 via checked.be.