VAN TICHELT: 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.
VAN TICHELT
Largest movements
- Stocks and contracts +€16,892
up €16,892 (+55.0%), from €30,723 to €47,615
of which Stocks: +€16,892
- Tangible fixed assets +€10,331
up €10,331 (+15.3%), from €67,575 to €77,907
of which Other tangible fixed assets: +€11,628
- Cash +€3,590
up €3,590 (+34.8%), from €10,325 to €13,914
mainly Other debts (+€29,912) and Depreciation (+€15,677)
- Other debts +€29,912
up €29,912 (+61.2%), from €48,865 to €78,777
- Reserves +€11,150
up €11,150 (+14.2%), from €78,750 to €89,900
of which Distributable reserves: +€11,150
- Trade debts -€4,555
down €4,555 (-89.6%), from €5,084 to €529
- Current portion of long-term debt -€4,481
down €4,481 (-57.1%), from €7,852 to €3,370
- Gross operating margin -€34,894
down €34,894 (-50.5%), from €69,095 to €34,201
- Taxes -€10,827
down €10,827 (-64.1%), from €16,878 to €6,052
- Depreciation -€796
down €796 (-4.8%), from €16,472 to €15,677
- Financial income +€742
up €742 (+57.9%), from €1,281 to €2,023
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 | €156,544 | €186,935 | +€30,390 | +19.4% |
| Fixed assets | 21/28 | €67,575 | €77,907 | +€10,331 | +15.3% |
| Tangible fixed assets | 22/27 | €67,575 | €77,907 | +€10,331 | +15.3% |
| Land and buildings | 22 | €7,995 | €6,923 | -€1,072 | -13.4% |
| Plant, machinery and equipment | 23 | €480 | €255 | -€225 | -46.9% |
| Other tangible fixed assets | 26 | €59,101 | €70,729 | +€11,628 | +19.7% |
| Current assets | 29/58 | €88,969 | €109,028 | +€20,059 | +22.5% |
| Stocks and contracts in progress | 3 | €30,723 | €47,615 | +€16,892 | +55.0% |
| Stocks | 30/36 | €30,723 | €47,615 | +€16,892 | +55.0% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €47,921 | €47,499 | -€422 | -0.9% |
| Trade receivables | 40 | €43,136 | €40,353 | -€2,783 | -6.5% |
| Other amounts receivable | 41 | €4,785 | €7,146 | +€2,361 | +49.3% |
| Cash at bank and in hand | 54/58 | €10,325 | €13,914 | +€3,590 | +34.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €156,544 | €186,935 | +€30,390 | +19.4% |
| Equity | 10/15 | €87,295 | €98,451 | +€11,156 | +12.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €78,750 | €89,900 | +€11,150 | +14.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €76,890 | €88,040 | +€11,150 | +14.5% |
| Profit (loss) carried forward | 14 | €2,345 | €2,351 | +€6 | +0.3% |
| Amounts payable | 17/49 | €69,249 | €88,483 | +€19,234 | +27.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €64,494 | €83,728 | +€19,234 | +29.8% |
| Current portion of amounts payable after more than one year | 42 | €7,852 | €3,370 | -€4,481 | -57.1% |
| Trade debts | 44 | €5,084 | €529 | -€4,555 | -89.6% |
| Suppliers | 440/4 | €5,084 | €529 | -€4,555 | -89.6% |
| Taxes, remuneration and social security | 45 | €2,694 | €1,052 | -€1,642 | -61.0% |
| Taxes | 450/3 | €2,694 | €1,052 | -€1,642 | -61.0% |
| Other amounts payable | 47/48 | €48,865 | €78,777 | +€29,912 | +61.2% |
| Accrued charges and deferred income | 492/3 | €4,755 | €4,755 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,472 | €15,677 | -€796 | -4.8% |
| Other operating charges | 640/8 | €2,207 | €2,726 | +€518 | +23.5% |
| Gross operating margin | 9900 | €69,095 | €34,201 | -€34,894 | -50.5% |
| Operating profit (loss) | 9901 | €50,415 | €15,799 | -€34,616 | -68.7% |
| Financial income | 75/76B | €1,281 | €2,023 | +€742 | +57.9% |
| Recurring financial income | 75 | €1,281 | €2,023 | +€742 | +57.9% |
| Financial charges | 65/66B | €923 | €614 | -€309 | -33.5% |
| Recurring financial charges | 65 | €923 | €614 | -€309 | -33.5% |
| Profit (loss) for the period before taxes | 9903 | €50,774 | €17,208 | -€33,566 | -66.1% |
| Income taxes | 67/77 | €16,878 | €6,052 | -€10,827 | -64.1% |
| Profit (loss) for the period | 9904 | €33,895 | €11,156 | -€22,739 | -67.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,895 | €11,156 | -€22,739 | -67.1% |
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.