Tivertho: 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.
Tivertho
Largest movements
- Cash +€6,917
up €6,917 (+34.1%), from €20,288 to €27,205
mainly Net result for the year (+€6,032) and Other debts (+€5,773)
- Deferred charges and accrued income +€1,315
new in 2025: €1,315
- Tangible fixed assets -€876
down €876 (-38.5%), from €2,273 to €1,397
- Receivables within one year -€842
no longer reported in 2025 (was €842)
- Other debts +€5,773
up €5,773 (+559.6%), from €1,031 to €6,804
- Tax, wage and social debts +€700
up €700 (+56.6%), from €1,235 to €1,935
- Gross operating margin +€3,609
up €3,609 (+66.9%), from €5,398 to €9,007
- Taxes +€1,123
up €1,123 (+211.8%), from €530 to €1,653
- Other operating charges +€189
up €189 (+93.1%), from €203 to €392
- Depreciation +€145
up €145 (+19.9%), from €731 to €876
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 | €23,403 | €29,917 | +€6,515 | +27.8% |
| Fixed assets | 21/28 | €2,273 | €1,397 | -€876 | -38.5% |
| Tangible fixed assets | 22/27 | €2,273 | €1,397 | -€876 | -38.5% |
| Plant, machinery and equipment | 23 | €2,273 | €1,397 | -€876 | -38.5% |
| Current assets | 29/58 | €21,129 | €28,520 | +€7,391 | +35.0% |
| Amounts receivable within one year | 40/41 | €842 | - | -€842 | |
| Trade receivables | 40 | €842 | - | -€842 | |
| Cash at bank and in hand | 54/58 | €20,288 | €27,205 | +€6,917 | +34.1% |
| Deferred charges and accrued income | 490/1 | - | €1,315 | +€1,315 | |
| Total equity and liabilities | 10/49 | €23,403 | €29,917 | +€6,515 | +27.8% |
| Equity | 10/15 | €21,045 | €21,000 | -€45 | -0.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,045 | €1,000 | -€45 | -4.3% |
| Distributable reserves | 133 | €1,045 | €1,000 | -€45 | -4.3% |
| Amounts payable | 17/49 | €2,357 | €8,917 | +€6,560 | +278.3% |
| Amounts payable within one year | 42/48 | €2,357 | €8,917 | +€6,560 | +278.3% |
| Trade debts | 44 | €91 | €179 | +€88 | +96.7% |
| Suppliers | 440/4 | €91 | €179 | +€88 | +96.7% |
| Taxes, remuneration and social security | 45 | €1,235 | €1,935 | +€700 | +56.6% |
| Taxes | 450/3 | €1,235 | €1,935 | +€700 | +56.6% |
| Other amounts payable | 47/48 | €1,031 | €6,804 | +€5,773 | +559.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €731 | €876 | +€145 | +19.9% |
| Other operating charges | 640/8 | €203 | €392 | +€189 | +93.1% |
| Gross operating margin | 9900 | €5,398 | €9,007 | +€3,609 | +66.9% |
| Operating profit (loss) | 9901 | €4,464 | €7,739 | +€3,275 | +73.4% |
| Financial charges | 65/66B | €43 | €54 | +€11 | +26.6% |
| Recurring financial charges | 65 | €43 | €54 | +€11 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | €4,422 | €7,685 | +€3,263 | +73.8% |
| Income taxes | 67/77 | €530 | €1,653 | +€1,123 | +211.8% |
| Profit (loss) for the period | 9904 | €3,892 | €6,032 | +€2,140 | +55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,892 | €6,032 | +€2,140 | +55.0% |
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 4 October 2026 via checked.be.