EN TANDEM: 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.
EN TANDEM
Largest movements
- Tangible fixed assets +€495,884
up €495,884 (+819,236%), from €61 to €495,944
of which Land and buildings: +€468,155
- Cash -€83,279
down €83,279 (-38.9%), from €214,193 to €130,914
mainly Investment in fixed assets (net) (-€567,204) and Contributions, distributions and other (-€68,200)
- Receivables after one year +€25,428
up €25,428 (+7.5%), from €339,195 to €364,623
- Debts after one year +€296,000
new in 2025: €296,000
- Trade debts +€151,389
up €151,389 (+39,084%), from €387 to €151,776
- Reserves -€64,100
down €64,100 (-13.6%), from €471,500 to €407,400
- Other debts +€47,075
up €47,075 (+68.6%), from €68,640 to €115,714
- Depreciation +€70,878
up €70,878 (+16,045%), from €442 to €71,320
- Gross operating margin +€34,953
up €34,953 (+47.4%), from €73,772 to €108,725
- Financial charges +€16,614
up €16,614 (+43.5%), from €38,216 to €54,829
- Taxes -€13,091
down €13,091 (-86.3%), from €15,175 to €2,084
- Financial income +€5,852
up €5,852 (+29.9%), from €19,575 to €25,428
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 | €651,982 | €1,084,591 | +€432,609 | +66.4% |
| Fixed assets | 21/28 | €10,061 | €505,944 | +€495,884 | +4,929% |
| Tangible fixed assets | 22/27 | €61 | €495,944 | +€495,884 | +819,236% |
| Land and buildings | 22 | - | €468,155 | +€468,155 | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €61 | €27,789 | +€27,729 | +45,810% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €641,921 | €578,647 | -€63,275 | -9.9% |
| Amounts receivable after more than one year | 29 | €339,195 | €364,623 | +€25,428 | +7.5% |
| Other amounts receivable | 291 | €339,195 | €364,623 | +€25,428 | +7.5% |
| Amounts receivable within one year | 40/41 | €87,704 | €82,280 | -€5,423 | -6.2% |
| Trade receivables | 40 | €37,500 | €42,500 | +€5,000 | +13.3% |
| Other amounts receivable | 41 | €50,204 | €39,780 | -€10,423 | -20.8% |
| Cash at bank and in hand | 54/58 | €214,193 | €130,914 | -€83,279 | -38.9% |
| Deferred charges and accrued income | 490/1 | €829 | €829 | = | 0.0% |
| Total equity and liabilities | 10/49 | €651,982 | €1,084,591 | +€432,609 | +66.4% |
| Equity | 10/15 | €581,755 | €517,687 | -€64,068 | -11.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €471,500 | €407,400 | -€64,100 | -13.6% |
| Distributable reserves | 133 | €471,500 | €407,400 | -€64,100 | -13.6% |
| Profit (loss) carried forward | 14 | €90,255 | €90,287 | +€32 | 0.0% |
| Amounts payable | 17/49 | €70,227 | €566,904 | +€496,677 | +707% |
| Amounts payable after more than one year | 17 | - | €296,000 | +€296,000 | |
| Other amounts payable | 178/9 | - | €296,000 | +€296,000 | |
| Amounts payable within one year | 42/48 | €70,227 | €267,491 | +€197,264 | +281% |
| Financial debts | 43 | €0 | €0 | = | |
| Credit institutions | 430/8 | €0 | €0 | = | |
| Trade debts | 44 | €387 | €151,776 | +€151,389 | +39,084% |
| Suppliers | 440/4 | €387 | €151,776 | +€151,389 | +39,084% |
| Taxes, remuneration and social security | 45 | €1,200 | €0 | -€1,200 | -100% |
| Taxes | 450/3 | €1,200 | €0 | -€1,200 | -100% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €68,640 | €115,714 | +€47,075 | +68.6% |
| Accrued charges and deferred income | 492/3 | - | €3,413 | +€3,413 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €442 | €71,320 | +€70,878 | +16,045% |
| Other operating charges | 640/8 | €621 | €1,787 | +€1,166 | +188% |
| Gross operating margin | 9900 | €73,772 | €108,725 | +€34,953 | +47.4% |
| Operating profit (loss) | 9901 | €72,709 | €35,618 | -€37,091 | -51.0% |
| Financial income | 75/76B | €19,575 | €25,428 | +€5,852 | +29.9% |
| Recurring financial income | 75 | €19,575 | €25,428 | +€5,852 | +29.9% |
| Financial charges | 65/66B | €38,216 | €54,829 | +€16,614 | +43.5% |
| Recurring financial charges | 65 | €38,216 | €54,829 | +€16,614 | +43.5% |
| Profit (loss) for the period before taxes | 9903 | €54,069 | €6,216 | -€47,853 | -88.5% |
| Income taxes | 67/77 | €15,175 | €2,084 | -€13,091 | -86.3% |
| Profit (loss) for the period | 9904 | €38,894 | €4,132 | -€34,762 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,894 | €4,132 | -€34,762 | -89.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.