TZIGANE: 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.
TZIGANE
Largest movements
- Tangible fixed assets -€32,483
down €32,483 (-20.3%), from €159,687 to €127,204
- Receivables within one year +€24,066
up €24,066 (+112.1%), from €21,461 to €45,527
of which Trade receivables: +€14,416
- Cash +€9,872
up €9,872 (+124.9%), from €7,905 to €17,777
mainly Depreciation (+€41,510) and Trade debts (+€32,112)
- Trade debts +€32,112
up €32,112 (+294.6%), from €10,901 to €43,013
- Current portion of long-term debt -€25,424
down €25,424 (-28.1%), from €90,424 to €65,000
- Tax, wage and social debts -€3,439
down €3,439 (-45.5%), from €7,559 to €4,121
- Gross operating margin -€28,966
down €28,966 (-38.4%), from €75,344 to €46,378
- Other operating charges -€13,837
down €13,837 (-73.0%), from €18,954 to €5,117
- Financial charges -€5,423
down €5,423 (-45.9%), from €11,802 to €6,379
- Taxes -€5,167
down €5,167 (-95.3%), from €5,421 to €253
- Depreciation +€4,909
up €4,909 (+13.4%), from €36,601 to €41,510
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 | €252,851 | €255,188 | +€2,337 | +0.9% |
| Fixed assets | 21/28 | €213,508 | €181,025 | -€32,483 | -15.2% |
| Tangible fixed assets | 22/27 | €159,687 | €127,204 | -€32,483 | -20.3% |
| Land and buildings | 22 | €79,711 | €67,036 | -€12,675 | -15.9% |
| Plant, machinery and equipment | 23 | €32,968 | €29,028 | -€3,940 | -12.0% |
| Furniture and vehicles | 24 | €47,008 | €31,140 | -€15,868 | -33.8% |
| Financial fixed assets | 28 | €53,821 | €53,821 | = | 0.0% |
| Current assets | 29/58 | €39,343 | €74,164 | +€34,820 | +88.5% |
| Amounts receivable within one year | 40/41 | €21,461 | €45,527 | +€24,066 | +112.1% |
| Trade receivables | 40 | €19,091 | €33,508 | +€14,416 | +75.5% |
| Other amounts receivable | 41 | €2,369 | €12,019 | +€9,650 | +407.3% |
| Cash at bank and in hand | 54/58 | €7,905 | €17,777 | +€9,872 | +124.9% |
| Deferred charges and accrued income | 490/1 | €9,977 | €10,860 | +€882 | +8.8% |
| Total equity and liabilities | 10/49 | €252,851 | €255,188 | +€2,337 | +0.9% |
| Equity | 10/15 | €73,452 | €74,550 | +€1,099 | +1.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €53,452 | €54,550 | +€1,099 | +2.1% |
| Tax-exempt reserves | 132 | €24,605 | €20,856 | -€3,750 | -15.2% |
| Distributable reserves | 133 | €28,846 | €33,694 | +€4,848 | +16.8% |
| Provisions and deferred taxes | 16 | €13,470 | €11,539 | -€1,931 | -14.3% |
| Deferred taxes | 168 | €13,470 | €11,539 | -€1,931 | -14.3% |
| Amounts payable | 17/49 | €165,930 | €169,099 | +€3,169 | +1.9% |
| Amounts payable after more than one year | 17 | €51,880 | €51,880 | = | 0.0% |
| Financial debts | 170/4 | €51,880 | €51,880 | = | 0.0% |
| Amounts payable within one year | 42/48 | €114,000 | €117,169 | +€3,169 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €90,424 | €65,000 | -€25,424 | -28.1% |
| Trade debts | 44 | €10,901 | €43,013 | +€32,112 | +294.6% |
| Suppliers | 440/4 | €10,901 | €43,013 | +€32,112 | +294.6% |
| Advances received on contracts in progress | 46 | €166 | €85 | -€81 | -48.9% |
| Taxes, remuneration and social security | 45 | €7,559 | €4,121 | -€3,439 | -45.5% |
| Taxes | 450/3 | €7,559 | €4,121 | -€3,439 | -45.5% |
| Other amounts payable | 47/48 | €4,950 | €4,950 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €50 | €50 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,601 | €41,510 | +€4,909 | +13.4% |
| Other operating charges | 640/8 | €18,954 | €5,117 | -€13,837 | -73.0% |
| Gross operating margin | 9900 | €75,344 | €46,378 | -€28,966 | -38.4% |
| Operating profit (loss) | 9901 | €19,790 | -€248 | -€20,038 | |
| Financial income | 75/76B | €1,659 | €2,367 | +€707 | +42.6% |
| Recurring financial income | 75 | €1,659 | €2,367 | +€707 | +42.6% |
| Financial charges | 65/66B | €11,802 | €6,379 | -€5,423 | -45.9% |
| Recurring financial charges | 65 | €11,802 | €6,379 | -€5,423 | -45.9% |
| Profit (loss) for the period before taxes | 9903 | €9,647 | -€4,261 | -€13,908 | |
| Transfer from deferred taxes | 780 | €1,931 | €1,931 | = | 0.0% |
| Income taxes | 67/77 | €5,421 | €253 | -€5,167 | -95.3% |
| Profit (loss) for the period | 9904 | €6,157 | -€2,583 | -€8,741 | |
| Transfer from tax-exempt reserves | 789 | €3,750 | €3,750 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,907 | €1,166 | -€8,741 | -88.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.