VAN TIGCHELT: 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 TIGCHELT
Largest movements
- Stocks and contracts -€781,420
down €781,420 (-71.2%), from €1.1m to €316,832
- Current investments +€578,000
up €578,000 (+196%), from €295,000 to €873,000
- Cash +€460,742
up €460,742 (+59.6%), from €772,480 to €1.2m
mainly Stocks and contracts (+€781,420) and Trade debts (+€324,821)
- Receivables within one year +€104,032
up €104,032 (+29.8%), from €349,658 to €453,690
of which Trade receivables: +€79,056
- Tangible fixed assets +€79,936
up €79,936 (+15.3%), from €523,048 to €602,984
of which Plant, machinery and equipment: +€84,698
- Trade debts +€324,821
up €324,821 (+98.9%), from €328,358 to €653,178
- Reserves +€261,648
up €261,648 (+13.4%), from €2.0m to €2.2m
- Other debts -€195,021
down €195,021 (-31.1%), from €628,026 to €433,004
- Short-term financial debts +€63,221
up €63,221 (+235%), from €26,882 to €90,104
of which Credit institutions: +€64,217
- Gross operating margin +€306,244
up €306,244 (+41.9%), from €730,321 to €1.0m
- Taxes +€96,071
up €96,071 (+957%), from €10,039 to €106,110
- Staff costs -€80,583
down €80,583 (-14.0%), from €574,689 to €494,106
- Depreciation +€54,744
up €54,744 (+52.6%), from €104,131 to €158,875
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 | €3,048,464 | €3,481,994 | +€433,529 | +14.2% |
| Fixed assets | 21/28 | €523,464 | €603,400 | +€79,936 | +15.3% |
| Tangible fixed assets | 22/27 | €523,048 | €602,984 | +€79,936 | +15.3% |
| Plant, machinery and equipment | 23 | €499,736 | €584,435 | +€84,698 | +16.9% |
| Furniture and vehicles | 24 | €10,490 | €7,682 | -€2,808 | -26.8% |
| Other tangible fixed assets | 26 | €12,822 | €10,867 | -€1,955 | -15.2% |
| Financial fixed assets | 28 | €416 | €416 | = | 0.0% |
| Current assets | 29/58 | €2,525,000 | €2,878,594 | +€353,593 | +14.0% |
| Stocks and contracts in progress | 3 | €1,098,252 | €316,832 | -€781,420 | -71.2% |
| Stocks | 30/36 | €1,098,252 | €316,832 | -€781,420 | -71.2% |
| Amounts receivable within one year | 40/41 | €349,658 | €453,690 | +€104,032 | +29.8% |
| Trade receivables | 40 | €280,067 | €359,123 | +€79,056 | +28.2% |
| Other amounts receivable | 41 | €69,591 | €94,567 | +€24,976 | +35.9% |
| Current investments | 50/53 | €295,000 | €873,000 | +€578,000 | +196% |
| Cash at bank and in hand | 54/58 | €772,480 | €1,233,221 | +€460,742 | +59.6% |
| Deferred charges and accrued income | 490/1 | €9,611 | €1,850 | -€7,761 | -80.8% |
| Total equity and liabilities | 10/49 | €3,048,464 | €3,481,994 | +€433,529 | +14.2% |
| Equity | 10/15 | €1,970,471 | €2,232,118 | +€261,648 | +13.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,951,879 | €2,213,526 | +€261,648 | +13.4% |
| Distributable reserves | 133 | €1,951,879 | €2,213,526 | +€261,648 | +13.4% |
| Amounts payable | 17/49 | €1,077,994 | €1,249,875 | +€171,882 | +15.9% |
| Amounts payable within one year | 42/48 | €1,076,324 | €1,249,875 | +€173,551 | +16.1% |
| Financial debts | 43 | €26,882 | €90,104 | +€63,221 | +235% |
| Credit institutions | 430/8 | €5,903 | €70,119 | +€64,217 | +1,088% |
| Other loans | 439 | €20,980 | €19,984 | -€996 | -4.7% |
| Trade debts | 44 | €328,358 | €653,178 | +€324,821 | +98.9% |
| Suppliers | 440/4 | €328,358 | €653,178 | +€324,821 | +98.9% |
| Taxes, remuneration and social security | 45 | €93,058 | €73,589 | -€19,469 | -20.9% |
| Taxes | 450/3 | €28,930 | €11,560 | -€17,370 | -60.0% |
| Remuneration and social security | 454/9 | €64,129 | €62,029 | -€2,099 | -3.3% |
| Other amounts payable | 47/48 | €628,026 | €433,004 | -€195,021 | -31.1% |
| Accrued charges and deferred income | 492/3 | €1,669 | - | -€1,669 | |
| Non-recurring operating income | 76A | €8,113 | €24,053 | +€15,940 | +196% |
| Remuneration, social security and pensions | 62 | €574,689 | €494,106 | -€80,583 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,131 | €158,875 | +€54,744 | +52.6% |
| Other operating charges | 640/8 | €9,048 | €10,587 | +€1,540 | +17.0% |
| Gross operating margin | 9900 | €730,321 | €1,036,565 | +€306,244 | +41.9% |
| Operating profit (loss) | 9901 | €42,453 | €372,996 | +€330,543 | +779% |
| Financial income | 75/76B | €26,297 | €26,704 | +€407 | +1.5% |
| Recurring financial income | 75 | €26,297 | €26,704 | +€407 | +1.5% |
| Financial charges | 65/66B | €33,955 | €31,942 | -€2,013 | -5.9% |
| Recurring financial charges | 65 | €33,955 | €31,942 | -€2,013 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €34,795 | €367,758 | +€332,963 | +957% |
| Income taxes | 67/77 | €10,039 | €106,110 | +€96,071 | +957% |
| Profit (loss) for the period | 9904 | €24,756 | €261,648 | +€236,892 | +957% |
| Profit (loss) for the period to be appropriated | 9905 | €24,756 | €261,648 | +€236,892 | +957% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.