T & A: what changed
Two fiscal 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.
T & A
Largest movements
- Cash +€87,128
up €87,128 (+128.2%), from €67,956 to €155,084
mainly Net result for the year (+€92,232) and Other debts (+€35,142)
- Tangible fixed assets +€26,638
up €26,638 (+9.2%), from €290,090 to €316,728
of which Leasing and similar rights: +€17,132
- Receivables within one year -€15,683
down €15,683 (-17.8%), from €88,166 to €72,483
of which Trade receivables: -€20,373
- Stocks and contracts -€8,246
down €8,246 (-4.8%), from €172,289 to €164,043
- Profit (loss) carried forward +€47,110
up €47,110, from -€47,110 to €0
- Other debts +€35,142
up €35,142 (+32.4%), from €108,361 to €143,503
- Trade debts -€26,834
down €26,834 (-33.9%), from €79,109 to €52,275
- Tax, wage and social debts +€20,547
up €20,547 (+94.6%), from €21,726 to €42,274
of which Remuneration and social security: +€20,161
- Reserves +€15,122
up €15,122 (+80.6%), from €18,750 to €33,872
of which Distributable reserves: +€15,122
- Gross operating margin +€122,579
up €122,579 (+47.3%), from €258,956 to €381,535
- Staff costs +€41,237
up €41,237 (+20.8%), from €198,649 to €239,886
- Taxes +€14,445
up €14,445 (+233.0%), from €6,199 to €20,644
- Depreciation -€10,632
down €10,632 (-36.2%), from €29,378 to €18,746
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.
Cash bridge derived
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 | €631,248 | €718,326 | +€87,078 | +13.8% |
| Fixed assets | 21/28 | €290,090 | €316,728 | +€26,638 | +9.2% |
| Tangible fixed assets | 22/27 | €290,090 | €316,728 | +€26,638 | +9.2% |
| Land and buildings | 22 | €283,027 | €289,471 | +€6,445 | +2.3% |
| Plant, machinery and equipment | 23 | €660 | €5,083 | +€4,423 | +670.1% |
| Furniture and vehicles | 24 | €3,590 | €2,228 | -€1,362 | -37.9% |
| Leasing and similar rights | 25 | €2,813 | €19,946 | +€17,132 | +609.0% |
| Current assets | 29/58 | €341,158 | €401,598 | +€60,440 | +17.7% |
| Stocks and contracts in progress | 3 | €172,289 | €164,043 | -€8,246 | -4.8% |
| Stocks | 30/36 | €172,289 | €164,043 | -€8,246 | -4.8% |
| Amounts receivable within one year | 40/41 | €88,166 | €72,483 | -€15,683 | -17.8% |
| Trade receivables | 40 | €73,643 | €53,271 | -€20,373 | -27.7% |
| Other amounts receivable | 41 | €14,523 | €19,212 | +€4,689 | +32.3% |
| Cash at bank and in hand | 54/58 | €67,956 | €155,084 | +€87,128 | +128.2% |
| Deferred charges and accrued income | 490/1 | €12,747 | €9,988 | -€2,759 | -21.6% |
| Total equity and liabilities | 10/49 | €631,248 | €718,326 | +€87,078 | +13.8% |
| Equity | 10/15 | €108,640 | €170,872 | +€62,232 | +57.3% |
| Contributions | 10/11 | €137,000 | €137,000 | = | 0.0% |
| Reserves | 13 | €18,750 | €33,872 | +€15,122 | +80.6% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €0 | €15,122 | +€15,122 | |
| Profit (loss) carried forward | 14 | -€47,110 | €0 | +€47,110 | |
| Investment grants | 15 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €522,608 | €547,454 | +€24,846 | +4.8% |
| Amounts payable after more than one year | 17 | €228,858 | €221,708 | -€7,150 | -3.1% |
| Financial debts | 170/4 | €228,858 | €221,708 | -€7,150 | -3.1% |
| Amounts payable within one year | 42/48 | €293,750 | €325,747 | +€31,996 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €25,399 | €26,866 | +€1,467 | +5.8% |
| Trade debts | 44 | €79,109 | €52,275 | -€26,834 | -33.9% |
| Suppliers | 440/4 | €79,109 | €52,275 | -€26,834 | -33.9% |
| Advances received on contracts in progress | 46 | €59,155 | €60,829 | +€1,675 | +2.8% |
| Taxes, remuneration and social security | 45 | €21,726 | €42,274 | +€20,547 | +94.6% |
| Taxes | 450/3 | €5,005 | €5,392 | +€386 | +7.7% |
| Remuneration and social security | 454/9 | €16,721 | €36,882 | +€20,161 | +120.6% |
| Other amounts payable | 47/48 | €108,361 | €143,503 | +€35,142 | +32.4% |
| Non-recurring operating income | 76A | €0 | €3,510 | +€3,510 | |
| Remuneration, social security and pensions | 62 | €198,649 | €239,886 | +€41,237 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,378 | €18,746 | -€10,632 | -36.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,175 | €0 | +€3,175 | |
| Other operating charges | 640/8 | €7,103 | €6,185 | -€918 | -12.9% |
| Gross operating margin | 9900 | €258,956 | €381,535 | +€122,579 | +47.3% |
| Operating profit (loss) | 9901 | €27,001 | €116,718 | +€89,718 | +332.3% |
| Financial income | 75/76B | €9,373 | €12,362 | +€2,989 | +31.9% |
| Recurring financial income | 75 | €9,373 | €12,362 | +€2,989 | +31.9% |
| Financial charges | 65/66B | €17,018 | €16,205 | -€813 | -4.8% |
| Recurring financial charges | 65 | €17,018 | €16,205 | -€813 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €19,356 | €112,875 | +€93,520 | +483.2% |
| Transfer from deferred taxes | 780 | €134 | €0 | -€134 | -100.0% |
| Income taxes | 67/77 | €6,199 | €20,644 | +€14,445 | +233.0% |
| Profit (loss) for the period | 9904 | €13,291 | €92,232 | +€78,941 | +593.9% |
| Profit (loss) for the period to be appropriated | 9905 | €13,291 | €92,232 | +€78,941 | +593.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.