ASSAF TAYAR: 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.
ASSAF TAYAR
Largest movements
- Cash +€319,530
up €319,530 (+58.1%), from €550,156 to €869,686
mainly Net result for the year (+€736,052) and Tax, wage and social debts (+€122,614)
- Current investments +€270,852
up €270,852 (+12.5%), from €2.2m to €2.4m
- Tangible fixed assets +€39,333
up €39,333 (+205%), from €19,177 to €58,510
of which Furniture and vehicles: +€37,516
- Reserves +€586,052
up €586,052 (+21.2%), from €2.8m to €3.3m
of which Distributable reserves: +€586,052
- Tax, wage and social debts +€122,614
up €122,614 (+709%), from €17,286 to €139,900
- Gross operating margin +€281,149
up €281,149 (+39.5%), from €712,371 to €993,520
- Taxes +€120,404
up €120,404 (+50.2%), from €239,662 to €360,066
- Financial charges -€39,204
down €39,204 (-88.8%), from €44,134 to €4,930
- Financial income +€38,550
up €38,550 (+40.6%), from €94,919 to €133,469
- Write-downs +€16,238
up €16,238, from -€9,858 to €6,380
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 | €2,895,417 | €3,549,516 | +€654,099 | +22.6% |
| Fixed assets | 21/28 | €19,177 | €58,510 | +€39,333 | +205% |
| Tangible fixed assets | 22/27 | €19,177 | €58,510 | +€39,333 | +205% |
| Plant, machinery and equipment | 23 | €3,031 | €4,849 | +€1,818 | +60.0% |
| Furniture and vehicles | 24 | €16,146 | €53,662 | +€37,516 | +232% |
| Current assets | 29/58 | €2,876,240 | €3,491,006 | +€614,766 | +21.4% |
| Amounts receivable within one year | 40/41 | €160,964 | €185,348 | +€24,384 | +15.1% |
| Trade receivables | 40 | €27,231 | €83,282 | +€56,052 | +206% |
| Other amounts receivable | 41 | €133,734 | €102,066 | -€31,667 | -23.7% |
| Current investments | 50/53 | €2,165,120 | €2,435,971 | +€270,852 | +12.5% |
| Cash at bank and in hand | 54/58 | €550,156 | €869,686 | +€319,530 | +58.1% |
| Total equity and liabilities | 10/49 | €2,895,417 | €3,549,516 | +€654,099 | +22.6% |
| Equity | 10/15 | €2,781,109 | €3,367,161 | +€586,052 | +21.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,762,509 | €3,348,561 | +€586,052 | +21.2% |
| 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 | €2,760,649 | €3,346,701 | +€586,052 | +21.2% |
| Amounts payable | 17/49 | €114,308 | €182,356 | +€68,048 | +59.5% |
| Amounts payable within one year | 42/48 | €114,308 | €182,356 | +€68,048 | +59.5% |
| Trade debts | 44 | €21,208 | €1,980 | -€19,227 | -90.7% |
| Suppliers | 440/4 | €21,208 | €1,980 | -€19,227 | -90.7% |
| Taxes, remuneration and social security | 45 | €17,286 | €139,900 | +€122,614 | +709% |
| Taxes | 450/3 | €17,286 | €139,900 | +€122,614 | +709% |
| Other amounts payable | 47/48 | €75,814 | €40,476 | -€35,339 | -46.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,126 | €16,587 | +€13,461 | +431% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,858 | €6,380 | +€16,238 | |
| Other operating charges | 640/8 | €968 | €2,974 | +€2,007 | +207% |
| Gross operating margin | 9900 | €712,371 | €993,520 | +€281,149 | +39.5% |
| Operating profit (loss) | 9901 | €718,136 | €967,579 | +€249,443 | +34.7% |
| Financial income | 75/76B | €94,919 | €133,469 | +€38,550 | +40.6% |
| Recurring financial income | 75 | €94,919 | €133,469 | +€38,550 | +40.6% |
| Financial charges | 65/66B | €44,134 | €4,930 | -€39,204 | -88.8% |
| Recurring financial charges | 65 | €44,134 | €4,930 | -€39,204 | -88.8% |
| Profit (loss) for the period before taxes | 9903 | €768,920 | €1,096,118 | +€327,197 | +42.6% |
| Income taxes | 67/77 | €239,662 | €360,066 | +€120,404 | +50.2% |
| Profit (loss) for the period | 9904 | €529,258 | €736,052 | +€206,793 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €529,258 | €736,052 | +€206,793 | +39.1% |
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.