T.A. Management: 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.
T.A. Management
Largest movements
- Current investments -€63,992
down €63,992 (-83.2%), from €76,901 to €12,909
- Cash +€32,222
up €32,222 (+133%), from €24,239 to €56,461
mainly Current investments (+€63,992) and Depreciation (+€29,069)
- Tangible fixed assets -€27,310
down €27,310 (-2.7%), from €998,188 to €970,878
of which Land and buildings: -€28,528
- Current portion of long-term debt -€22,191
down €22,191 (-51.6%), from €42,997 to €20,806
- Debts after one year -€20,377
down €20,377 (-39.7%), from €51,324 to €30,948
- Gross operating margin -€107,207
down €107,207 (-64.8%), from €165,550 to €58,343
- Taxes -€21,692
down €21,692 (-98.7%), from €21,978 to €285
- Financial income +€8,195
up €8,195 (+2,879%), from €285 to €8,480
- Financial charges -€3,264
down €3,264 (-7.5%), from €43,743 to €40,479
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 | €1,115,075 | €1,047,749 | -€67,326 | -6.0% |
| Fixed assets | 21/28 | €998,188 | €970,878 | -€27,310 | -2.7% |
| Tangible fixed assets | 22/27 | €998,188 | €970,878 | -€27,310 | -2.7% |
| Land and buildings | 22 | €998,188 | €969,660 | -€28,528 | -2.9% |
| Furniture and vehicles | 24 | - | €1,218 | +€1,218 | |
| Current assets | 29/58 | €116,887 | €76,871 | -€40,016 | -34.2% |
| Amounts receivable within one year | 40/41 | €12,009 | €6,276 | -€5,733 | -47.7% |
| Trade receivables | 40 | €6,094 | €1,272 | -€4,822 | -79.1% |
| Other amounts receivable | 41 | €5,915 | €5,004 | -€911 | -15.4% |
| Current investments | 50/53 | €76,901 | €12,909 | -€63,992 | -83.2% |
| Cash at bank and in hand | 54/58 | €24,239 | €56,461 | +€32,222 | +133% |
| Deferred charges and accrued income | 490/1 | €3,737 | €1,224 | -€2,513 | -67.2% |
| Total equity and liabilities | 10/49 | €1,115,075 | €1,047,749 | -€67,326 | -6.0% |
| Equity | 10/15 | €522,183 | €511,762 | -€10,421 | -2.0% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €122,183 | €117,055 | -€5,128 | -4.2% |
| Distributable reserves | 133 | €122,183 | €117,055 | -€5,128 | -4.2% |
| Profit (loss) carried forward | 14 | - | -€5,293 | -€5,293 | |
| Amounts payable | 17/49 | €592,892 | €535,987 | -€56,905 | -9.6% |
| Amounts payable after more than one year | 17 | €51,324 | €30,948 | -€20,377 | -39.7% |
| Financial debts | 170/4 | €51,324 | €30,948 | -€20,377 | -39.7% |
| Amounts payable within one year | 42/48 | €539,276 | €504,852 | -€34,423 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €42,997 | €20,806 | -€22,191 | -51.6% |
| Trade debts | 44 | €5,961 | €1,017 | -€4,944 | -82.9% |
| Suppliers | 440/4 | €5,961 | €1,017 | -€4,944 | -82.9% |
| Taxes, remuneration and social security | 45 | €12,822 | €16,288 | +€3,466 | +27.0% |
| Taxes | 450/3 | €12,822 | €16,288 | +€3,466 | +27.0% |
| Other amounts payable | 47/48 | €477,495 | €466,742 | -€10,753 | -2.3% |
| Accrued charges and deferred income | 492/3 | €2,292 | €187 | -€2,105 | -91.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,308 | €29,069 | -€1,238 | -4.1% |
| Other operating charges | 640/8 | €8,894 | €7,410 | -€1,484 | -16.7% |
| Gross operating margin | 9900 | €165,550 | €58,343 | -€107,207 | -64.8% |
| Operating profit (loss) | 9901 | €126,348 | €21,864 | -€104,485 | -82.7% |
| Financial income | 75/76B | €285 | €8,480 | +€8,195 | +2,879% |
| Recurring financial income | 75 | €285 | €8,480 | +€8,195 | +2,879% |
| Financial charges | 65/66B | €43,743 | €40,479 | -€3,264 | -7.5% |
| Recurring financial charges | 65 | €43,743 | €40,479 | -€3,264 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €82,890 | -€10,136 | -€93,026 | |
| Income taxes | 67/77 | €21,978 | €285 | -€21,692 | -98.7% |
| Profit (loss) for the period | 9904 | €60,913 | -€10,421 | -€71,334 | |
| Profit (loss) for the period to be appropriated | 9905 | €60,913 | -€10,421 | -€71,334 |
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 31 October 2026 via checked.be.