TACTICON: 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.
TACTICON
Largest movements
- Current investments -€597,452
down €597,452 (-68.0%), from €879,107 to €281,654
- Cash +€60,313
up €60,313 (+30.2%), from €199,389 to €259,702
mainly Current investments (+€597,452) and Net result for the year (+€377,283)
- Reserves -€288,094
down €288,094 (-12.7%), from €2.3m to €2.0m
- Other debts -€217,748
down €217,748 (-39.8%), from €547,654 to €329,905
- Financial income -€65,361
down €65,361 (-20.1%), from €324,422 to €259,061
- Financial charges -€26,631
down €26,631 (-74.0%), from €35,996 to €9,365
- Gross operating margin +€22,606
up €22,606 (+9.3%), from €242,323 to €264,929
- Taxes -€3,458
down €3,458 (-4.2%), from €82,701 to €79,243
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 | €3,063,750 | €2,509,734 | -€554,016 | -18.1% |
| Fixed assets | 21/28 | €1,980,238 | €1,962,893 | -€17,345 | -0.9% |
| Tangible fixed assets | 22/27 | €967,489 | €950,144 | -€17,345 | -1.8% |
| Land and buildings | 22 | €910,856 | €873,424 | -€37,433 | -4.1% |
| Plant, machinery and equipment | 23 | €8,059 | €6,959 | -€1,100 | -13.6% |
| Furniture and vehicles | 24 | €48,574 | €69,762 | +€21,188 | +43.6% |
| Financial fixed assets | 28 | €1,012,749 | €1,012,749 | = | 0.0% |
| Current assets | 29/58 | €1,083,512 | €546,841 | -€536,671 | -49.5% |
| Current investments | 50/53 | €879,107 | €281,654 | -€597,452 | -68.0% |
| Cash at bank and in hand | 54/58 | €199,389 | €259,702 | +€60,313 | +30.2% |
| Deferred charges and accrued income | 490/1 | €5,016 | €5,485 | +€469 | +9.3% |
| Total equity and liabilities | 10/49 | €3,063,750 | €2,509,734 | -€554,016 | -18.1% |
| Equity | 10/15 | €2,414,313 | €2,126,219 | -€288,094 | -11.9% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €2,264,313 | €1,976,219 | -€288,094 | -12.7% |
| Distributable reserves | 133 | €2,264,313 | €1,976,219 | -€288,094 | -12.7% |
| Amounts payable | 17/49 | €649,437 | €383,516 | -€265,921 | -40.9% |
| Amounts payable within one year | 42/48 | €612,196 | €372,439 | -€239,756 | -39.2% |
| Trade debts | 44 | €172 | €21 | -€151 | -87.6% |
| Suppliers | 440/4 | €172 | €21 | -€151 | -87.6% |
| Taxes, remuneration and social security | 45 | €64,370 | €42,513 | -€21,857 | -34.0% |
| Taxes | 450/3 | €64,370 | €42,513 | -€21,857 | -34.0% |
| Other amounts payable | 47/48 | €547,654 | €329,905 | -€217,748 | -39.8% |
| Accrued charges and deferred income | 492/3 | €37,241 | €11,076 | -€26,165 | -70.3% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,062 | €54,020 | +€1,958 | +3.8% |
| Other operating charges | 640/8 | €2,324 | €2,675 | +€351 | +15.1% |
| Non-recurring operating charges | 66A | - | €1,403 | +€1,403 | |
| Gross operating margin | 9900 | €242,323 | €264,929 | +€22,606 | +9.3% |
| Operating profit (loss) | 9901 | €187,937 | €206,831 | +€18,894 | +10.1% |
| Financial income | 75/76B | €324,422 | €259,061 | -€65,361 | -20.1% |
| Recurring financial income | 75 | €324,422 | €259,061 | -€65,361 | -20.1% |
| Financial charges | 65/66B | €35,996 | €9,365 | -€26,631 | -74.0% |
| Recurring financial charges | 65 | €35,996 | €9,365 | -€26,631 | -74.0% |
| Profit (loss) for the period before taxes | 9903 | €476,363 | €456,527 | -€19,836 | -4.2% |
| Income taxes | 67/77 | €82,701 | €79,243 | -€3,458 | -4.2% |
| Profit (loss) for the period | 9904 | €393,662 | €377,283 | -€16,379 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €393,662 | €377,283 | -€16,379 | -4.2% |
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 21 October 2026 via checked.be.