T & G: 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 & G
Largest movements
- Cash -€234,582
down €234,582 (-45.7%), from €513,020 to €278,438
mainly Investment in fixed assets (net) (-€411,204) and Current portion of long-term debt (-€171,308)
- Tangible fixed assets +€171,490
up €171,490 (+65.8%), from €260,441 to €431,931
of which Furniture and vehicles: +€171,084
- Financial fixed assets +€133,946
up €133,946 (+6.6%), from €2.0m to €2.2m
- Stocks and contracts +€113,200
up €113,200 (+28.9%), from €391,202 to €504,402
- Deferred charges and accrued income -€83,641
down €83,641 (-77.0%), from €108,674 to €25,034
- Trade debts +€243,683
up €243,683 (+363.4%), from €67,050 to €310,733
- Reserves +€224,345
up €224,345 (+38.4%), from €583,955 to €808,301
- Current portion of long-term debt -€171,308
down €171,308 (-48.7%), from €352,066 to €180,757
- Other debts -€162,679
down €162,679 (-31.1%), from €522,995 to €360,316
- Accrued charges and deferred income -€44,194
no longer reported in 2025 (was €44,194)
- Gross operating margin +€200,350
up €200,350 (+15.1%), from €1.3m to €1.5m
- Staff costs +€122,482
up €122,482 (+13.2%), from €929,735 to €1.1m
- Financial income -€25,743
down €25,743 (-36.1%), from €71,337 to €45,593
- Depreciation +€16,727
up €16,727 (+18.7%), from €89,261 to €105,988
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 | €3,972,823 | €4,078,883 | +€106,060 | +2.7% |
| Fixed assets | 21/28 | €2,281,402 | €2,586,618 | +€305,215 | +13.4% |
| Intangible fixed assets | 21 | €958 | €737 | -€221 | -23.1% |
| Tangible fixed assets | 22/27 | €260,441 | €431,931 | +€171,490 | +65.8% |
| Land and buildings | 22 | €28,733 | €30,478 | +€1,746 | +6.1% |
| Plant, machinery and equipment | 23 | €2,316 | €977 | -€1,339 | -57.8% |
| Furniture and vehicles | 24 | €229,392 | €400,476 | +€171,084 | +74.6% |
| Financial fixed assets | 28 | €2,020,004 | €2,153,950 | +€133,946 | +6.6% |
| Current assets | 29/58 | €1,691,421 | €1,492,265 | -€199,155 | -11.8% |
| Stocks and contracts in progress | 3 | €391,202 | €504,402 | +€113,200 | +28.9% |
| Stocks | 30/36 | €391,202 | €504,402 | +€113,200 | +28.9% |
| Amounts receivable within one year | 40/41 | €678,524 | €684,391 | +€5,867 | +0.9% |
| Trade receivables | 40 | €530,334 | €524,261 | -€6,073 | -1.1% |
| Other amounts receivable | 41 | €148,190 | €160,130 | +€11,940 | +8.1% |
| Cash at bank and in hand | 54/58 | €513,020 | €278,438 | -€234,582 | -45.7% |
| Deferred charges and accrued income | 490/1 | €108,674 | €25,034 | -€83,641 | -77.0% |
| Total equity and liabilities | 10/49 | €3,972,823 | €4,078,883 | +€106,060 | +2.7% |
| Equity | 10/15 | €2,383,955 | €2,608,301 | +€224,345 | +9.4% |
| Contributions | 10/11 | €1,800,000 | €1,800,000 | = | 0.0% |
| Reserves | 13 | €583,955 | €808,301 | +€224,345 | +38.4% |
| Distributable reserves | 133 | €583,955 | €808,301 | +€224,345 | +38.4% |
| Amounts payable | 17/49 | €1,588,868 | €1,470,582 | -€118,285 | -7.4% |
| Amounts payable after more than one year | 17 | €395,565 | €368,038 | -€27,528 | -7.0% |
| Financial debts | 170/4 | €395,565 | €368,038 | -€27,528 | -7.0% |
| Amounts payable within one year | 42/48 | €1,149,108 | €1,102,545 | -€46,564 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €352,066 | €180,757 | -€171,308 | -48.7% |
| Trade debts | 44 | €67,050 | €310,733 | +€243,683 | +363.4% |
| Suppliers | 440/4 | €67,050 | €310,733 | +€243,683 | +363.4% |
| Taxes, remuneration and social security | 45 | €206,998 | €250,739 | +€43,741 | +21.1% |
| Taxes | 450/3 | €45,902 | €104,400 | +€58,498 | +127.4% |
| Remuneration and social security | 454/9 | €161,095 | €146,339 | -€14,757 | -9.2% |
| Other amounts payable | 47/48 | €522,995 | €360,316 | -€162,679 | -31.1% |
| Accrued charges and deferred income | 492/3 | €44,194 | - | -€44,194 | |
| Non-recurring operating income | 76A | - | €610 | +€610 | |
| Remuneration, social security and pensions | 62 | €929,735 | €1,052,217 | +€122,482 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,261 | €105,988 | +€16,727 | +18.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,974 | €1,750 | -€3,224 | -64.8% |
| Other operating charges | 640/8 | €20,454 | €10,624 | -€9,830 | -48.1% |
| Gross operating margin | 9900 | €1,324,652 | €1,525,002 | +€200,350 | +15.1% |
| Operating profit (loss) | 9901 | €280,228 | €354,424 | +€74,195 | +26.5% |
| Financial income | 75/76B | €71,337 | €45,593 | -€25,743 | -36.1% |
| Recurring financial income | 75 | €71,337 | €45,593 | -€25,743 | -36.1% |
| Financial charges | 65/66B | €91,531 | €80,242 | -€11,289 | -12.3% |
| Recurring financial charges | 65 | €91,531 | €80,242 | -€11,289 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €260,033 | €319,775 | +€59,741 | +23.0% |
| Income taxes | 67/77 | €84,543 | €95,429 | +€10,886 | +12.9% |
| Profit (loss) for the period | 9904 | €175,490 | €224,345 | +€48,855 | +27.8% |
| Profit (loss) for the period to be appropriated | 9905 | €175,490 | €224,345 | +€48,855 | +27.8% |
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 10 October 2026 via checked.be.