NICOLAS TALMASSE: what changed
NICOLAS TALMASSE
Largest movements
- Cash +€74,612
up €74,612 (+73.4%), from €101,650 to €176,262
mainly Net result for the year (+€65,004) and Debts after one year (+€23,182)
- Tangible fixed assets +€37,023
up €37,023 (+226%), from €16,348 to €53,370
of which Leasing and similar rights: +€45,776
- Receivables within one year -€8,864
down €8,864 (-15.9%), from €55,894 to €47,030
- Profit (loss) carried forward +€35,004
up €35,004 (+63.0%), from €55,584 to €90,588
- Reserves +€30,000
up €30,000 (+41.3%), from €72,573 to €102,573
of which Distributable reserves: +€30,000
- Debts after one year +€23,182
new in 2025: €23,182
- Current portion of long-term debt +€8,515
new in 2025: €8,515
- Tax, wage and social debts +€6,773
up €6,773 (+33.8%), from €20,030 to €26,803
of which Taxes: +€5,273
- Write-downs -€23,429
down €23,429, from €1,379 to -€22,050
- Gross operating margin +€17,076
up €17,076 (+28.0%), from €60,943 to €78,019
- Taxes +€10,440
up €10,440 (+85.8%), from €12,167 to €22,606
- Depreciation -€8,584
down €8,584 (-51.1%), from €16,786 to €8,201
- Other operating charges -€1,730
down €1,730 (-34.1%), from €5,079 to €3,349
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €183,628 | €289,071 | +€105,443 | +57.4% |
| Fixed assets | 21/28 | €16,348 | €53,370 | +€37,023 | +226% |
| Tangible fixed assets | 22/27 | €16,348 | €53,370 | +€37,023 | +226% |
| Land and buildings | 22 | €6,791 | €5,345 | -€1,446 | -21.3% |
| Plant, machinery and equipment | 23 | €756 | €301 | -€455 | -60.2% |
| Furniture and vehicles | 24 | €8,800 | €1,948 | -€6,852 | -77.9% |
| Leasing and similar rights | 25 | - | €45,776 | +€45,776 | |
| Current assets | 29/58 | €167,280 | €235,700 | +€68,420 | +40.9% |
| Stocks and contracts in progress | 3 | €6,000 | €7,500 | +€1,500 | +25.0% |
| Stocks | 30/36 | €6,000 | €7,500 | +€1,500 | +25.0% |
| Amounts receivable within one year | 40/41 | €55,894 | €47,030 | -€8,864 | -15.9% |
| Trade receivables | 40 | €55,894 | €47,030 | -€8,864 | -15.9% |
| Cash at bank and in hand | 54/58 | €101,650 | €176,262 | +€74,612 | +73.4% |
| Deferred charges and accrued income | 490/1 | €3,737 | €4,909 | +€1,172 | +31.4% |
| Total equity and liabilities | 10/49 | €183,628 | €289,071 | +€105,443 | +57.4% |
| Equity | 10/15 | €146,757 | €211,761 | +€65,004 | +44.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €72,573 | €102,573 | +€30,000 | +41.3% |
| Tax-exempt reserves | 132 | €10,509 | €10,509 | = | 0.0% |
| Distributable reserves | 133 | €62,064 | €92,064 | +€30,000 | +48.3% |
| Profit (loss) carried forward | 14 | €55,584 | €90,588 | +€35,004 | +63.0% |
| Amounts payable | 17/49 | €36,871 | €77,310 | +€40,439 | +110% |
| Amounts payable after more than one year | 17 | - | €23,182 | +€23,182 | |
| Financial debts | 170/4 | - | €23,182 | +€23,182 | |
| Amounts payable within one year | 42/48 | €36,855 | €52,659 | +€15,803 | +42.9% |
| Current portion of amounts payable after more than one year | 42 | - | €8,515 | +€8,515 | |
| Trade debts | 44 | €7,842 | €8,217 | +€375 | +4.8% |
| Suppliers | 440/4 | €7,842 | €8,217 | +€375 | +4.8% |
| Taxes, remuneration and social security | 45 | €20,030 | €26,803 | +€6,773 | +33.8% |
| Taxes | 450/3 | €17,030 | €22,303 | +€5,273 | +31.0% |
| Remuneration and social security | 454/9 | €3,000 | €4,500 | +€1,500 | +50.0% |
| Other amounts payable | 47/48 | €8,983 | €9,124 | +€141 | +1.6% |
| Accrued charges and deferred income | 492/3 | €16 | €1,469 | +€1,453 | +9,256% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,786 | €8,201 | -€8,584 | -51.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,379 | -€22,050 | -€23,429 | |
| Other operating charges | 640/8 | €5,079 | €3,349 | -€1,730 | -34.1% |
| Gross operating margin | 9900 | €60,943 | €78,019 | +€17,076 | +28.0% |
| Operating profit (loss) | 9901 | €37,699 | €88,518 | +€50,819 | +135% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €96 | €908 | +€812 | +850% |
| Recurring financial charges | 65 | €96 | €908 | +€812 | +850% |
| Profit (loss) for the period before taxes | 9903 | €37,603 | €87,611 | +€50,007 | +133% |
| Income taxes | 67/77 | €12,167 | €22,606 | +€10,440 | +85.8% |
| Profit (loss) for the period | 9904 | €25,437 | €65,004 | +€39,568 | +156% |
| Profit (loss) for the period to be appropriated | 9905 | €25,437 | €65,004 | +€39,568 | +156% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.