HENRI TAELMAN: 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.
HENRI TAELMAN
Largest movements
- Cash +€43,486
up €43,486 (+52.0%), from €83,581 to €127,067
mainly Net result for the year (+€43,007) and Depreciation (+€27,806)
- Tangible fixed assets -€12,357
down €12,357 (-17.4%), from €70,820 to €58,463
of which Plant, machinery and equipment: -€10,000
- Intangible fixed assets -€10,000
down €10,000 (-11.7%), from €85,464 to €75,464
- Reserves +€43,007
up €43,007 (+74.8%), from €57,497 to €100,504
- Debts after one year -€24,000
down €24,000 (-26.1%), from €92,000 to €68,000
- Tax, wage and social debts +€4,028
up €4,028 (+7.0%), from €57,876 to €61,904
of which Taxes: +€3,952
- Other debts -€3,124
down €3,124 (-10.8%), from €29,020 to €25,896
- Staff costs -€19,226
down €19,226 (-12.9%), from €149,554 to €130,329
- Gross operating margin -€7,434
down €7,434 (-3.4%), from €220,826 to €213,392
- Depreciation +€6,442
up €6,442 (+30.2%), from €21,364 to €27,806
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 | €254,559 | €276,357 | +€21,798 | +8.6% |
| Fixed assets | 21/28 | €156,799 | €134,441 | -€22,357 | -14.3% |
| Intangible fixed assets | 21 | €85,464 | €75,464 | -€10,000 | -11.7% |
| Tangible fixed assets | 22/27 | €70,820 | €58,463 | -€12,357 | -17.4% |
| Plant, machinery and equipment | 23 | €35,464 | €25,464 | -€10,000 | -28.2% |
| Furniture and vehicles | 24 | €35,355 | €32,998 | -€2,357 | -6.7% |
| Financial fixed assets | 28 | €514 | €514 | = | 0.0% |
| Current assets | 29/58 | €97,761 | €141,916 | +€44,155 | +45.2% |
| Stocks and contracts in progress | 3 | €7,443 | €7,060 | -€383 | -5.1% |
| Stocks | 30/36 | €7,443 | €7,060 | -€383 | -5.1% |
| Amounts receivable within one year | 40/41 | €3,674 | €4,108 | +€433 | +11.8% |
| Trade receivables | 40 | - | €192 | +€192 | |
| Other amounts receivable | 41 | €3,674 | €3,916 | +€241 | +6.6% |
| Cash at bank and in hand | 54/58 | €83,581 | €127,067 | +€43,486 | +52.0% |
| Deferred charges and accrued income | 490/1 | €3,063 | €3,681 | +€618 | +20.2% |
| Total equity and liabilities | 10/49 | €254,559 | €276,357 | +€21,798 | +8.6% |
| Equity | 10/15 | €67,497 | €110,504 | +€43,007 | +63.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €57,497 | €100,504 | +€43,007 | +74.8% |
| Distributable reserves | 133 | €57,497 | €100,504 | +€43,007 | +74.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €187,063 | €165,853 | -€21,210 | -11.3% |
| Amounts payable after more than one year | 17 | €92,000 | €68,000 | -€24,000 | -26.1% |
| Financial debts | 170/4 | €92,000 | €68,000 | -€24,000 | -26.1% |
| Amounts payable within one year | 42/48 | €90,963 | €94,291 | +€3,329 | +3.7% |
| Trade debts | 44 | €4,067 | €6,491 | +€2,425 | +59.6% |
| Suppliers | 440/4 | €4,067 | €6,491 | +€2,425 | +59.6% |
| Taxes, remuneration and social security | 45 | €57,876 | €61,904 | +€4,028 | +7.0% |
| Taxes | 450/3 | €33,387 | €37,340 | +€3,952 | +11.8% |
| Remuneration and social security | 454/9 | €24,489 | €24,564 | +€75 | +0.3% |
| Other amounts payable | 47/48 | €29,020 | €25,896 | -€3,124 | -10.8% |
| Accrued charges and deferred income | 492/3 | €4,100 | €3,562 | -€538 | -13.1% |
| Non-recurring operating income | 76A | - | €1,800 | +€1,800 | |
| Remuneration, social security and pensions | 62 | €149,554 | €130,329 | -€19,226 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,364 | €27,806 | +€6,442 | +30.2% |
| Other operating charges | 640/8 | €1,161 | €524 | -€638 | -54.9% |
| Gross operating margin | 9900 | €220,826 | €213,392 | -€7,434 | -3.4% |
| Operating profit (loss) | 9901 | €48,746 | €54,734 | +€5,988 | +12.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €658 | €632 | -€26 | -3.9% |
| Recurring financial charges | 65 | €658 | €632 | -€26 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €48,089 | €54,103 | +€6,014 | +12.5% |
| Income taxes | 67/77 | €10,361 | €11,095 | +€734 | +7.1% |
| Profit (loss) for the period | 9904 | €37,727 | €43,007 | +€5,280 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,727 | €43,007 | +€5,280 | +14.0% |
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 22 October 2026 via checked.be.