TA2: 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.
TA2
Largest movements
- Tangible fixed assets +€596,148
up €596,148 (+326.1%), from €182,814 to €778,962
of which Leasing and similar rights: +€584,410
- Cash +€78,651
up €78,651 (+61.5%), from €127,965 to €206,616
mainly Debts after one year (+€504,493) and Depreciation (+€90,320)
- Debts after one year +€504,493
up €504,493 (+1842.0%), from €27,389 to €531,882
- Profit (loss) carried forward +€83,260
up €83,260 (+23.0%), from €362,513 to €445,773
- Current portion of long-term debt +€66,459
up €66,459 (+242.5%), from €27,407 to €93,866
- Trade debts +€23,141
up €23,141 (+14.4%), from €160,211 to €183,352
- Gross operating margin +€36,803
up €36,803 (+12.6%), from €291,813 to €328,616
- Staff costs -€30,704
down €30,704 (-20.0%), from €153,737 to €123,033
- Depreciation +€19,955
up €19,955 (+28.4%), from €70,365 to €90,320
- Financial charges +€12,927
up €12,927 (+478.1%), from €2,704 to €15,631
- Taxes -€8,435
down €8,435 (-45.4%), from €18,585 to €10,150
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 | €670,244 | €1,339,791 | +€669,547 | +99.9% |
| Fixed assets | 21/28 | €453,910 | €1,044,657 | +€590,747 | +130.1% |
| Tangible fixed assets | 22/27 | €182,814 | €778,962 | +€596,148 | +326.1% |
| Furniture and vehicles | 24 | €160,539 | €172,277 | +€11,738 | +7.3% |
| Leasing and similar rights | 25 | €22,275 | €606,685 | +€584,410 | +2623.6% |
| Financial fixed assets | 28 | €271,096 | €265,695 | -€5,401 | -2.0% |
| Current assets | 29/58 | €216,334 | €295,134 | +€78,800 | +36.4% |
| Amounts receivable within one year | 40/41 | €88,369 | €88,518 | +€149 | +0.2% |
| Trade receivables | 40 | €65,946 | €61,992 | -€3,954 | -6.0% |
| Other amounts receivable | 41 | €22,423 | €26,526 | +€4,103 | +18.3% |
| Cash at bank and in hand | 54/58 | €127,965 | €206,616 | +€78,651 | +61.5% |
| Total equity and liabilities | 10/49 | €670,244 | €1,339,791 | +€669,547 | +99.9% |
| Equity | 10/15 | €415,801 | €499,061 | +€83,260 | +20.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34,688 | €34,688 | = | 0.0% |
| Tax-exempt reserves | 132 | €32,828 | €32,828 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €362,513 | €445,773 | +€83,260 | +23.0% |
| Amounts payable | 17/49 | €254,443 | €840,730 | +€586,287 | +230.4% |
| Amounts payable after more than one year | 17 | €27,389 | €531,882 | +€504,493 | +1842.0% |
| Financial debts | 170/4 | €27,389 | €531,882 | +€504,493 | +1842.0% |
| Amounts payable within one year | 42/48 | €227,054 | €308,848 | +€81,794 | +36.0% |
| Current portion of amounts payable after more than one year | 42 | €27,407 | €93,866 | +€66,459 | +242.5% |
| Trade debts | 44 | €160,211 | €183,352 | +€23,141 | +14.4% |
| Suppliers | 440/4 | €160,211 | €183,352 | +€23,141 | +14.4% |
| Taxes, remuneration and social security | 45 | €39,436 | €31,630 | -€7,806 | -19.8% |
| Taxes | 450/3 | €25,289 | €18,864 | -€6,425 | -25.4% |
| Remuneration and social security | 454/9 | €14,147 | €12,766 | -€1,381 | -9.8% |
| Remuneration, social security and pensions | 62 | €153,737 | €123,033 | -€30,704 | -20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,365 | €90,320 | +€19,955 | +28.4% |
| Other operating charges | 640/8 | €1,213 | €6,724 | +€5,511 | +454.3% |
| Gross operating margin | 9900 | €291,813 | €328,616 | +€36,803 | +12.6% |
| Operating profit (loss) | 9901 | €66,498 | €108,539 | +€42,041 | +63.2% |
| Financial income | 75/76B | €305 | €502 | +€197 | +64.6% |
| Recurring financial income | 75 | €305 | €502 | +€197 | +64.6% |
| Financial charges | 65/66B | €2,704 | €15,631 | +€12,927 | +478.1% |
| Recurring financial charges | 65 | €2,704 | €15,631 | +€12,927 | +478.1% |
| Profit (loss) for the period before taxes | 9903 | €64,099 | €93,410 | +€29,311 | +45.7% |
| Income taxes | 67/77 | €18,585 | €10,150 | -€8,435 | -45.4% |
| Profit (loss) for the period | 9904 | €45,514 | €83,260 | +€37,746 | +82.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,514 | €83,260 | +€37,746 | +82.9% |
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 28 September 2026 via checked.be.