TACK TRANS: 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 TRANS
Largest movements
- Current investments +€475,000
new in 2025: €475,000
- Cash -€277,786
down €277,786 (-80.4%), from €345,607 to €67,821
mainly Current investments (-€475,000) and Current portion of long-term debt (-€23,925)
- Tangible fixed assets -€53,448
down €53,448 (-42.2%), from €126,791 to €73,343
of which Leasing and similar rights: -€29,766
- Receivables within one year -€27,025
down €27,025 (-43.9%), from €61,614 to €34,589
of which Trade receivables: -€21,591
- Reserves +€136,707
up €136,707 (+30.6%), from €446,129 to €582,837
of which Tax-exempt reserves: +€100,280
- Current portion of long-term debt -€23,925
down €23,925 (-80.4%), from €29,766 to €5,841
- Tax, wage and social debts +€8,084
up €8,084 (+114%), from €7,121 to €15,205
of which Remuneration and social security: +€6,106
- Other debts +€7,000
up €7,000 (+63.6%), from €11,000 to €18,000
- Gross operating margin +€55,926
up €55,926 (+23.6%), from €236,498 to €292,424
- Staff costs +€9,035
up €9,035 (+16.2%), from €55,792 to €64,827
- Taxes +€6,248
up €6,248 (+20.3%), from €30,770 to €37,019
- Depreciation -€3,616
down €3,616 (-6.3%), from €57,550 to €53,933
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 | €539,228 | €657,732 | +€118,504 | +22.0% |
| Fixed assets | 21/28 | €128,591 | €75,143 | -€53,448 | -41.6% |
| Tangible fixed assets | 22/27 | €126,791 | €73,343 | -€53,448 | -42.2% |
| Plant, machinery and equipment | 23 | €638 | €302 | -€336 | -52.7% |
| Furniture and vehicles | 24 | €89,729 | €66,383 | -€23,346 | -26.0% |
| Leasing and similar rights | 25 | €36,423 | €6,657 | -€29,766 | -81.7% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €410,637 | €582,589 | +€171,952 | +41.9% |
| Amounts receivable within one year | 40/41 | €61,614 | €34,589 | -€27,025 | -43.9% |
| Trade receivables | 40 | €52,900 | €31,310 | -€21,591 | -40.8% |
| Other amounts receivable | 41 | €8,714 | €3,280 | -€5,434 | -62.4% |
| Current investments | 50/53 | - | €475,000 | +€475,000 | |
| Cash at bank and in hand | 54/58 | €345,607 | €67,821 | -€277,786 | -80.4% |
| Deferred charges and accrued income | 490/1 | €3,416 | €5,179 | +€1,763 | +51.6% |
| Total equity and liabilities | 10/49 | €539,228 | €657,732 | +€118,504 | +22.0% |
| Equity | 10/15 | €471,129 | €607,837 | +€136,707 | +29.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €446,129 | €582,837 | +€136,707 | +30.6% |
| Tax-exempt reserves | 132 | €178,125 | €278,405 | +€100,280 | +56.3% |
| Distributable reserves | 133 | €268,005 | €304,432 | +€36,427 | +13.6% |
| Provisions and deferred taxes | 16 | €4,723 | €3,473 | -€1,250 | -26.5% |
| Deferred taxes | 168 | €4,723 | €3,473 | -€1,250 | -26.5% |
| Amounts payable | 17/49 | €63,377 | €46,423 | -€16,954 | -26.8% |
| Amounts payable after more than one year | 17 | €5,841 | €0 | -€5,841 | -100% |
| Financial debts | 170/4 | €5,841 | €0 | -€5,841 | -100% |
| Amounts payable within one year | 42/48 | €57,536 | €46,423 | -€11,113 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €29,766 | €5,841 | -€23,925 | -80.4% |
| Trade debts | 44 | €9,649 | €7,377 | -€2,272 | -23.5% |
| Suppliers | 440/4 | €9,649 | €7,377 | -€2,272 | -23.5% |
| Taxes, remuneration and social security | 45 | €7,121 | €15,205 | +€8,084 | +114% |
| Taxes | 450/3 | €210 | €2,189 | +€1,979 | +942% |
| Remuneration and social security | 454/9 | €6,910 | €13,016 | +€6,106 | +88.4% |
| Other amounts payable | 47/48 | €11,000 | €18,000 | +€7,000 | +63.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €28,250 | +€28,250 | |
| Remuneration, social security and pensions | 62 | €55,792 | €64,827 | +€9,035 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,550 | €53,933 | -€3,616 | -6.3% |
| Other operating charges | 640/8 | €2,206 | €1,791 | -€414 | -18.8% |
| Gross operating margin | 9900 | €236,498 | €292,424 | +€55,926 | +23.6% |
| Operating profit (loss) | 9901 | €120,951 | €171,873 | +€50,922 | +42.1% |
| Financial income | 75/76B | €249 | €1,993 | +€1,744 | +701% |
| Recurring financial income | 75 | €249 | €1,993 | +€1,744 | +701% |
| Financial charges | 65/66B | €1,172 | €1,389 | +€217 | +18.5% |
| Recurring financial charges | 65 | €1,172 | €1,389 | +€217 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | €120,027 | €172,476 | +€52,449 | +43.7% |
| Transfer from deferred taxes | 780 | €1,250 | €1,250 | = | 0.0% |
| Income taxes | 67/77 | €30,770 | €37,019 | +€6,248 | +20.3% |
| Profit (loss) for the period | 9904 | €90,507 | €136,707 | +€46,201 | +51.0% |
| Transfer from tax-exempt reserves | 789 | €3,750 | €3,750 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €46,310 | €104,030 | +€57,720 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €47,947 | €36,427 | -€11,519 | -24.0% |
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 15 October 2026 via checked.be.