FIEUWS - TANGHE: 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.
FIEUWS - TANGHE
Largest movements
- Cash +€330,835
up €330,835 (+169%), from €196,088 to €526,923
mainly Current investments (+€303,804) and Net result for the year (+€33,554)
- Current investments -€303,804
down €303,804 (-89.5%), from €339,288 to €35,484
- Receivables within one year +€11,933
up €11,933 (+443%), from €2,693 to €14,625
of which Trade receivables: +€11,714
- Reserves +€33,554
up €33,554 (+7.1%), from €472,593 to €506,147
of which Distributable reserves: +€33,554
- Other debts +€6,802
up €6,802 (+25.3%), from €26,874 to €33,676
- Gross operating margin -€298,942
down €298,942 (-87.2%), from €342,812 to €43,870
- Taxes -€96,319
down €96,319 (-87.1%), from €110,596 to €14,277
- Financial charges +€4,964
up €4,964 (+260%), from €1,913 to €6,876
- Financial income +€3,663
up €3,663 (+41.2%), from €8,887 to €12,550
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 | €538,068 | €577,032 | +€38,964 | +7.2% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €538,068 | €577,032 | +€38,964 | +7.2% |
| Amounts receivable within one year | 40/41 | €2,693 | €14,625 | +€11,933 | +443% |
| Trade receivables | 40 | €2,593 | €14,307 | +€11,714 | +452% |
| Other amounts receivable | 41 | €100 | €318 | +€218 | +218% |
| Current investments | 50/53 | €339,288 | €35,484 | -€303,804 | -89.5% |
| Cash at bank and in hand | 54/58 | €196,088 | €526,923 | +€330,835 | +169% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €538,068 | €577,032 | +€38,964 | +7.2% |
| Equity | 10/15 | €491,185 | €524,739 | +€33,554 | +6.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €472,593 | €506,147 | +€33,554 | +7.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,100 | €14,100 | = | 0.0% |
| Distributable reserves | 133 | €456,634 | €490,188 | +€33,554 | +7.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €46,883 | €52,293 | +€5,410 | +11.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €41,827 | €52,293 | +€10,466 | +25.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €2,043 | €2,212 | +€169 | +8.3% |
| Suppliers | 440/4 | €2,043 | €2,212 | +€169 | +8.3% |
| Taxes, remuneration and social security | 45 | €12,910 | €16,405 | +€3,495 | +27.1% |
| Taxes | 450/3 | €12,910 | €16,405 | +€3,495 | +27.1% |
| Other amounts payable | 47/48 | €26,874 | €33,676 | +€6,802 | +25.3% |
| Accrued charges and deferred income | 492/3 | €5,056 | €0 | -€5,056 | -100% |
| Non-recurring operating income | 76A | €317,095 | €0 | -€317,095 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €2,230 | €1,713 | -€517 | -23.2% |
| Gross operating margin | 9900 | €342,812 | €43,870 | -€298,942 | -87.2% |
| Operating profit (loss) | 9901 | €340,581 | €42,157 | -€298,424 | -87.6% |
| Financial income | 75/76B | €8,887 | €12,550 | +€3,663 | +41.2% |
| Recurring financial income | 75 | €8,887 | €12,550 | +€3,663 | +41.2% |
| Financial charges | 65/66B | €1,913 | €6,876 | +€4,964 | +260% |
| Recurring financial charges | 65 | €1,913 | €6,876 | +€4,964 | +260% |
| Profit (loss) for the period before taxes | 9903 | €347,555 | €47,831 | -€299,725 | -86.2% |
| Income taxes | 67/77 | €110,596 | €14,277 | -€96,319 | -87.1% |
| Profit (loss) for the period | 9904 | €236,959 | €33,554 | -€203,405 | -85.8% |
| Profit (loss) for the period to be appropriated | 9905 | €236,959 | €33,554 | -€203,405 | -85.8% |
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 27 October 2026 via checked.be.