DE VE TAM: 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 VE TAM
Largest movements
- Cash +€29,404
up €29,404 (+143%), from €20,506 to €49,910
mainly Debts after one year (+€27,734) and Other debts (+€19,644)
- Receivables within one year +€14,201
up €14,201 (+12.4%), from €114,886 to €129,087
of which Other amounts receivable: +€7,719
- Stocks and contracts -€4,371
down €4,371 (-10.0%), from €43,664 to €39,293
- Debts after one year +€27,734
up €27,734 (+110%), from €25,150 to €52,884
- Other debts +€19,644
up €19,644 (+464%), from €4,231 to €23,875
- Trade debts +€9,473
up €9,473 (+48.1%), from €19,702 to €29,175
- Tax, wage and social debts -€9,338
down €9,338 (-43.7%), from €21,388 to €12,050
of which Taxes: -€16,327
- Reserves -€7,529
down €7,529 (-8.3%), from €91,170 to €83,642
of which Distributable reserves: -€7,529
- Staff costs +€14,729
up €14,729 (+96.9%), from €15,197 to €29,926
- Write-downs -€6,316
no longer reported in 2025 (was €6,316)
- Depreciation -€6,126
down €6,126 (-30.1%), from €20,336 to €14,211
- Gross operating margin +€5,520
up €5,520 (+7.7%), from €71,628 to €77,148
- Taxes -€2,221
down €2,221 (-25.3%), from €8,762 to €6,541
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 | €275,980 | €316,613 | +€40,633 | +14.7% |
| Fixed assets | 21/28 | €68,306 | €70,461 | +€2,155 | +3.2% |
| Tangible fixed assets | 22/27 | €64,806 | €66,961 | +€2,155 | +3.3% |
| Plant, machinery and equipment | 23 | €17,055 | €11,742 | -€5,313 | -31.2% |
| Furniture and vehicles | 24 | €47,751 | €55,219 | +€7,468 | +15.6% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €207,674 | €246,152 | +€38,478 | +18.5% |
| Amounts receivable after more than one year | 29 | €16,235 | €17,523 | +€1,288 | +7.9% |
| Other amounts receivable | 291 | €16,235 | €17,523 | +€1,288 | +7.9% |
| Stocks and contracts in progress | 3 | €43,664 | €39,293 | -€4,371 | -10.0% |
| Stocks | 30/36 | €43,664 | €39,293 | -€4,371 | -10.0% |
| Amounts receivable within one year | 40/41 | €114,886 | €129,087 | +€14,201 | +12.4% |
| Trade receivables | 40 | €109,942 | €116,424 | +€6,482 | +5.9% |
| Other amounts receivable | 41 | €4,944 | €12,663 | +€7,719 | +156% |
| Cash at bank and in hand | 54/58 | €20,506 | €49,910 | +€29,404 | +143% |
| Deferred charges and accrued income | 490/1 | €12,383 | €10,339 | -€2,044 | -16.5% |
| Total equity and liabilities | 10/49 | €275,980 | €316,613 | +€40,633 | +14.7% |
| Equity | 10/15 | €195,686 | €188,158 | -€7,529 | -3.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €91,170 | €83,642 | -€7,529 | -8.3% |
| 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 | €89,310 | €81,782 | -€7,529 | -8.4% |
| Profit (loss) carried forward | 14 | €98,316 | €98,316 | -€0 | 0.0% |
| Amounts payable | 17/49 | €80,294 | €128,456 | +€48,162 | +60.0% |
| Amounts payable after more than one year | 17 | €25,150 | €52,884 | +€27,734 | +110% |
| Financial debts | 170/4 | €25,150 | €52,884 | +€27,734 | +110% |
| Amounts payable within one year | 42/48 | €55,062 | €75,572 | +€20,510 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €9,742 | €10,472 | +€731 | +7.5% |
| Trade debts | 44 | €19,702 | €29,175 | +€9,473 | +48.1% |
| Suppliers | 440/4 | €19,702 | €29,175 | +€9,473 | +48.1% |
| Taxes, remuneration and social security | 45 | €21,388 | €12,050 | -€9,338 | -43.7% |
| Taxes | 450/3 | €17,465 | €1,137 | -€16,327 | -93.5% |
| Remuneration and social security | 454/9 | €3,923 | €10,912 | +€6,990 | +178% |
| Other amounts payable | 47/48 | €4,231 | €23,875 | +€19,644 | +464% |
| Accrued charges and deferred income | 492/3 | €82 | - | -€82 | |
| Remuneration, social security and pensions | 62 | €15,197 | €29,926 | +€14,729 | +96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,336 | €14,211 | -€6,126 | -30.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,316 | - | -€6,316 | |
| Other operating charges | 640/8 | €5,200 | €3,807 | -€1,393 | -26.8% |
| Non-recurring operating charges | 66A | - | €5,974 | +€5,974 | |
| Gross operating margin | 9900 | €71,628 | €77,148 | +€5,520 | +7.7% |
| Operating profit (loss) | 9901 | €24,579 | €23,230 | -€1,349 | -5.5% |
| Financial income | 75/76B | €2,488 | €1,717 | -€771 | -31.0% |
| Recurring financial income | 75 | €2,488 | €1,717 | -€771 | -31.0% |
| Financial charges | 65/66B | €3,144 | €2,434 | -€710 | -22.6% |
| Recurring financial charges | 65 | €3,144 | €2,434 | -€710 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €23,923 | €22,513 | -€1,410 | -5.9% |
| Income taxes | 67/77 | €8,762 | €6,541 | -€2,221 | -25.3% |
| Profit (loss) for the period | 9904 | €15,160 | €15,971 | +€811 | +5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,160 | €15,971 | +€811 | +5.3% |
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 20 October 2026 via checked.be.