TACK: 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.
TACK
Largest movements
- Current investments +€1.6m
up €1.6m, from €0 to €1.6m
- Tangible fixed assets -€1.4m
down €1.4m (-35.3%), from €3.8m to €2.5m
of which Land and buildings: -€1.3m
- Cash -€583,582
down €583,582 (-34.4%), from €1.7m to €1.1m
mainly Current investments (-€1.6m) and Debts after one year (-€1.1m)
- Stocks and contracts -€115,496
down €115,496 (-2.7%), from €4.2m to €4.1m
- Debts after one year -€1.1m
down €1.1m (-51.3%), from €2.2m to €1.1m
of which Financial debts: -€1.1m
- Tax, wage and social debts +€290,398
up €290,398 (+1044.8%), from €27,795 to €318,194
- Reserves +€246,027
up €246,027 (+3.4%), from €7.2m to €7.5m
of which Distributable reserves: +€277,000
- Other debts +€128,681
up €128,681 (+19.2%), from €670,191 to €798,872
- Gross operating margin -€2.2m
down €2.2m (-69.4%), from €3.1m to €954,599
- Depreciation +€316,823
up €316,823 (+143.5%), from €220,842 to €537,664
- Financial income -€130,020
down €130,020 (-59.7%), from €217,623 to €87,603
- Financial charges -€89,347
down €89,347 (-51.7%), from €172,892 to €83,544
- Taxes +€35,250
up €35,250 (+31.3%), from €112,716 to €147,966
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 | €11,211,777 | €10,803,408 | -€408,369 | -3.6% |
| Fixed assets | 21/28 | €4,802,644 | €3,462,924 | -€1.3m | -27.9% |
| Tangible fixed assets | 22/27 | €3,832,427 | €2,478,436 | -€1.4m | -35.3% |
| Land and buildings | 22 | €2,675,221 | €1,379,636 | -€1.3m | -48.4% |
| Plant, machinery and equipment | 23 | €19,250 | €12,685 | -€6,565 | -34.1% |
| Furniture and vehicles | 24 | €72,449 | €43,573 | -€28,875 | -39.9% |
| Assets under construction and advance payments | 27 | €1,065,508 | €1,042,542 | -€22,966 | -2.2% |
| Financial fixed assets | 28 | €970,217 | €984,487 | +€14,271 | +1.5% |
| Current assets | 29/58 | €6,409,133 | €7,340,484 | +€931,351 | +14.5% |
| Stocks and contracts in progress | 3 | €4,226,481 | €4,110,985 | -€115,496 | -2.7% |
| Stocks | 30/36 | €4,226,481 | €4,110,985 | -€115,496 | -2.7% |
| Amounts receivable within one year | 40/41 | €467,201 | €547,355 | +€80,154 | +17.2% |
| Trade receivables | 40 | €89,335 | €133,104 | +€43,769 | +49.0% |
| Other amounts receivable | 41 | €377,866 | €414,251 | +€36,385 | +9.6% |
| Current investments | 50/53 | €0 | €1,553,639 | +€1.6m | |
| Cash at bank and in hand | 54/58 | €1,695,062 | €1,111,480 | -€583,582 | -34.4% |
| Deferred charges and accrued income | 490/1 | €20,389 | €17,024 | -€3,365 | -16.5% |
| Total equity and liabilities | 10/49 | €11,211,777 | €10,803,408 | -€408,369 | -3.6% |
| Equity | 10/15 | €7,276,761 | €7,523,456 | +€246,695 | +3.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €7,212,391 | €7,458,418 | +€246,027 | +3.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €2,378,891 | €2,347,918 | -€30,973 | -1.3% |
| Distributable reserves | 133 | €4,833,500 | €5,110,500 | +€277,000 | +5.7% |
| Profit (loss) carried forward | 14 | €34,371 | €35,038 | +€667 | +1.9% |
| Provisions and deferred taxes | 16 | €802,597 | €788,885 | -€13,712 | -1.7% |
| Deferred taxes | 168 | €802,597 | €788,885 | -€13,712 | -1.7% |
| Amounts payable | 17/49 | €3,132,419 | €2,491,067 | -€641,351 | -20.5% |
| Amounts payable after more than one year | 17 | €2,172,742 | €1,058,870 | -€1.1m | -51.3% |
| Financial debts | 170/4 | €2,168,692 | €1,054,820 | -€1.1m | -51.4% |
| Other amounts payable | 178/9 | €4,050 | €4,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €947,965 | €1,419,746 | +€471,781 | +49.8% |
| Current portion of amounts payable after more than one year | 42 | €105,286 | €194,316 | +€89,030 | +84.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €144,692 | €108,364 | -€36,328 | -25.1% |
| Suppliers | 440/4 | €144,692 | €108,364 | -€36,328 | -25.1% |
| Taxes, remuneration and social security | 45 | €27,795 | €318,194 | +€290,398 | +1044.8% |
| Taxes | 450/3 | €27,795 | €318,194 | +€290,398 | +1044.8% |
| Other amounts payable | 47/48 | €670,191 | €798,872 | +€128,681 | +19.2% |
| Accrued charges and deferred income | 492/3 | €11,711 | €12,451 | +€740 | +6.3% |
| Non-recurring operating income | 76A | €2,724,694 | €451,899 | -€2.3m | -83.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220,842 | €537,664 | +€316,823 | +143.5% |
| Other operating charges | 640/8 | €36,899 | €21,538 | -€15,362 | -41.6% |
| Non-recurring operating charges | 66A | - | €18,507 | +€18,507 | |
| Gross operating margin | 9900 | €3,120,364 | €954,599 | -€2.2m | -69.4% |
| Operating profit (loss) | 9901 | €2,862,623 | €376,890 | -€2.5m | -86.8% |
| Financial income | 75/76B | €217,623 | €87,603 | -€130,020 | -59.7% |
| Recurring financial income | 75 | €217,623 | €87,603 | -€130,020 | -59.7% |
| Financial charges | 65/66B | €172,892 | €83,544 | -€89,347 | -51.7% |
| Recurring financial charges | 65 | €172,892 | €83,544 | -€89,347 | -51.7% |
| Profit (loss) for the period before taxes | 9903 | €2,907,354 | €380,949 | -€2.5m | -86.9% |
| Transfer from deferred taxes | 780 | €13,712 | €13,712 | = | 0.0% |
| Transfer to deferred taxes | 680 | €646,286 | €0 | -€646,286 | -100.0% |
| Income taxes | 67/77 | €112,716 | €147,966 | +€35,250 | +31.3% |
| Profit (loss) for the period | 9904 | €2,162,064 | €246,695 | -€1.9m | -88.6% |
| Transfer from tax-exempt reserves | 789 | €30,973 | €30,973 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €1,938,858 | €0 | -€1.9m | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €254,179 | €277,667 | +€23,489 | +9.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.