De Tandt: 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.
De Tandt
Largest movements
- Stocks and contracts +€27,034
up €27,034 (+14.7%), from €184,179 to €211,212
- Cash +€11,880
up €11,880 (+28.9%), from €41,046 to €52,926
mainly Net result for the year (+€54,477) and Depreciation (+€4,359)
- Reserves +€54,477
up €54,477 (+34.2%), from €159,493 to €213,970
- Trade debts -€9,599
down €9,599 (-19.0%), from €50,446 to €40,846
- Advances received -€4,332
down €4,332 (-81.7%), from €5,302 to €970
- Gross operating margin +€18,557
up €18,557 (+30.6%), from €60,624 to €79,181
- Taxes +€4,817
up €4,817 (+31.8%), from €15,132 to €19,949
- Write-downs -€1,525
down €1,525, from €67 to -€1,458
- Financial income -€925
down €925 (-42.9%), from €2,158 to €1,233
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 | €244,510 | €282,481 | +€37,971 | +15.5% |
| Fixed assets | 21/28 | €10,542 | €11,049 | +€507 | +4.8% |
| Tangible fixed assets | 22/27 | €10,542 | €11,049 | +€507 | +4.8% |
| Plant, machinery and equipment | 23 | €9,459 | €10,800 | +€1,341 | +14.2% |
| Furniture and vehicles | 24 | €1,083 | €249 | -€834 | -77.0% |
| Current assets | 29/58 | €233,968 | €271,432 | +€37,464 | +16.0% |
| Stocks and contracts in progress | 3 | €184,179 | €211,212 | +€27,034 | +14.7% |
| Stocks | 30/36 | €184,179 | €211,212 | +€27,034 | +14.7% |
| Amounts receivable within one year | 40/41 | €5,033 | €3,100 | -€1,933 | -38.4% |
| Trade receivables | 40 | €5,033 | €3,048 | -€1,985 | -39.4% |
| Other amounts receivable | 41 | - | €52 | +€52 | |
| Cash at bank and in hand | 54/58 | €41,046 | €52,926 | +€11,880 | +28.9% |
| Deferred charges and accrued income | 490/1 | €3,711 | €4,194 | +€483 | +13.0% |
| Total equity and liabilities | 10/49 | €244,510 | €282,481 | +€37,971 | +15.5% |
| Equity | 10/15 | €178,093 | €232,570 | +€54,477 | +30.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €159,493 | €213,970 | +€54,477 | +34.2% |
| Distributable reserves | 133 | €159,493 | €213,970 | +€54,477 | +34.2% |
| Amounts payable | 17/49 | €66,417 | €49,911 | -€16,506 | -24.9% |
| Amounts payable within one year | 42/48 | €65,462 | €49,413 | -€16,048 | -24.5% |
| Financial debts | 43 | €3,379 | €3,370 | -€9 | -0.3% |
| Credit institutions | 430/8 | €3,379 | €3,370 | -€9 | -0.3% |
| Trade debts | 44 | €50,446 | €40,846 | -€9,599 | -19.0% |
| Suppliers | 440/4 | €50,446 | €40,846 | -€9,599 | -19.0% |
| Advances received on contracts in progress | 46 | €5,302 | €970 | -€4,332 | -81.7% |
| Taxes, remuneration and social security | 45 | €3,190 | €3,264 | +€74 | +2.3% |
| Taxes | 450/3 | €3,190 | €3,264 | +€74 | +2.3% |
| Other amounts payable | 47/48 | €3,145 | €963 | -€2,182 | -69.4% |
| Accrued charges and deferred income | 492/3 | €955 | €497 | -€458 | -47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,625 | €4,359 | +€734 | +20.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €67 | -€1,458 | -€1,525 | |
| Other operating charges | 640/8 | €1,702 | €1,748 | +€46 | +2.7% |
| Gross operating margin | 9900 | €60,624 | €79,181 | +€18,557 | +30.6% |
| Operating profit (loss) | 9901 | €55,231 | €74,533 | +€19,302 | +34.9% |
| Financial income | 75/76B | €2,158 | €1,233 | -€925 | -42.9% |
| Recurring financial income | 75 | €2,158 | €1,233 | -€925 | -42.9% |
| Financial charges | 65/66B | €870 | €1,340 | +€470 | +54.0% |
| Recurring financial charges | 65 | €870 | €1,340 | +€470 | +54.0% |
| Profit (loss) for the period before taxes | 9903 | €56,519 | €74,426 | +€17,907 | +31.7% |
| Income taxes | 67/77 | €15,132 | €19,949 | +€4,817 | +31.8% |
| Profit (loss) for the period | 9904 | €41,387 | €54,477 | +€13,090 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €41,387 | €54,477 | +€13,090 | +31.6% |
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 24 October 2026 via checked.be.