Tack-Moeyaert: what changed
Tack-Moeyaert
Largest movements
- Receivables within one year +€512,434
up €512,434 (+116%), from €443,025 to €955,459
of which Other amounts receivable: +€263,449
- Current investments -€100,000
down €100,000 (-21.5%), from €465,000 to €365,000
- Tangible fixed assets -€76,967
down €76,967 (-11.0%), from €702,339 to €625,373
of which Plant, machinery and equipment: -€40,813
- Cash +€41,165
up €41,165 (+18.2%), from €226,549 to €267,715
mainly Other debts (+€710,555) and Net result for the year (+€270,120)
- Intangible fixed assets -€35,438
down €35,438 (-24.7%), from €143,589 to €108,151
- Other debts +€710,555
up €710,555 (+6,271%), from €11,331 to €721,886
- Reserves -€451,766
down €451,766 (-34.9%), from €1.3m to €842,517
of which Distributable reserves: -€449,911
- Accrued charges and deferred income +€186,867
up €186,867 (+8,446%), from €2,212 to €189,079
- Debts after one year -€78,900
down €78,900 (-13.6%), from €580,080 to €501,181
- Gross operating margin -€93,575
down €93,575 (-12.2%), from €768,723 to €675,147
- Taxes -€61,049
down €61,049 (-37.5%), from €162,819 to €101,771
- Staff costs +€35,308
up €35,308 (+24.9%), from €142,035 to €177,342
- Financial income +€8,488
up €8,488 (+102%), from €8,357 to €16,845
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,051,277 | €2,394,252 | +€342,974 | +16.7% |
| Fixed assets | 21/28 | €846,178 | €733,774 | -€112,405 | -13.3% |
| Intangible fixed assets | 21 | €143,589 | €108,151 | -€35,438 | -24.7% |
| Tangible fixed assets | 22/27 | €702,339 | €625,373 | -€76,967 | -11.0% |
| Land and buildings | 22 | €404,859 | €394,035 | -€10,824 | -2.7% |
| Plant, machinery and equipment | 23 | €234,053 | €193,240 | -€40,813 | -17.4% |
| Furniture and vehicles | 24 | €63,428 | €38,097 | -€25,330 | -39.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,205,099 | €1,660,478 | +€455,379 | +37.8% |
| Amounts receivable within one year | 40/41 | €443,025 | €955,459 | +€512,434 | +116% |
| Trade receivables | 40 | €3,025 | €252,010 | +€248,985 | +8,231% |
| Other amounts receivable | 41 | €440,000 | €703,449 | +€263,449 | +59.9% |
| Current investments | 50/53 | €465,000 | €365,000 | -€100,000 | -21.5% |
| Cash at bank and in hand | 54/58 | €226,549 | €267,715 | +€41,165 | +18.2% |
| Deferred charges and accrued income | 490/1 | €70,525 | €72,305 | +€1,780 | +2.5% |
| Total equity and liabilities | 10/49 | €2,051,277 | €2,394,252 | +€342,974 | +16.7% |
| Equity | 10/15 | €1,312,832 | €861,067 | -€451,766 | -34.4% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,294,282 | €842,517 | -€451,766 | -34.9% |
| Non-distributable reserves | 130/1 | €1,855 | - | -€1,855 | |
| Reserves not available under the articles | 1311 | €1,855 | - | -€1,855 | |
| Distributable reserves | 133 | €1,292,427 | €842,517 | -€449,911 | -34.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €738,445 | €1,533,185 | +€794,740 | +108% |
| Amounts payable after more than one year | 17 | €580,080 | €501,181 | -€78,900 | -13.6% |
| Financial debts | 170/4 | €580,080 | €501,181 | -€78,900 | -13.6% |
| Amounts payable within one year | 42/48 | €156,152 | €842,925 | +€686,773 | +440% |
| Current portion of amounts payable after more than one year | 42 | €83,067 | €78,900 | -€4,167 | -5.0% |
| Trade debts | 44 | €6,401 | €9,337 | +€2,936 | +45.9% |
| Suppliers | 440/4 | €6,401 | €9,337 | +€2,936 | +45.9% |
| Taxes, remuneration and social security | 45 | €55,354 | €32,803 | -€22,551 | -40.7% |
| Taxes | 450/3 | €27,019 | €400 | -€26,619 | -98.5% |
| Remuneration and social security | 454/9 | €28,335 | €32,403 | +€4,068 | +14.4% |
| Other amounts payable | 47/48 | €11,331 | €721,886 | +€710,555 | +6,271% |
| Accrued charges and deferred income | 492/3 | €2,212 | €189,079 | +€186,867 | +8,446% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €142,035 | €177,342 | +€35,308 | +24.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,156 | €126,521 | -€3,635 | -2.8% |
| Other operating charges | 640/8 | €5,915 | €4,971 | -€944 | -16.0% |
| Gross operating margin | 9900 | €768,723 | €675,147 | -€93,575 | -12.2% |
| Operating profit (loss) | 9901 | €490,617 | €366,312 | -€124,305 | -25.3% |
| Financial income | 75/76B | €8,357 | €16,845 | +€8,488 | +102% |
| Recurring financial income | 75 | €8,357 | €16,845 | +€8,488 | +102% |
| Financial charges | 65/66B | €8,627 | €11,267 | +€2,639 | +30.6% |
| Recurring financial charges | 65 | €8,627 | €8,242 | -€386 | -4.5% |
| Non-recurring financial charges | 66B | - | €3,025 | +€3,025 | |
| Profit (loss) for the period before taxes | 9903 | €490,347 | €371,891 | -€118,456 | -24.2% |
| Income taxes | 67/77 | €162,819 | €101,771 | -€61,049 | -37.5% |
| Profit (loss) for the period | 9904 | €327,528 | €270,120 | -€57,408 | -17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €327,528 | €270,120 | -€57,408 | -17.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.