TADBLU: 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.
TADBLU
Largest movements
- Tangible fixed assets +€216,941
up €216,941 (+602.5%), from €36,009 to €252,950
of which Land and buildings: +€222,498
- Cash +€64,756
up €64,756 (+79.4%), from €81,517 to €146,273
mainly Net result for the year (+€124,542) and Debts after one year (+€59,526)
- Current investments -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Stocks and contracts -€48,039
down €48,039 (-19.7%), from €244,384 to €196,345
- Receivables within one year -€17,678
down €17,678 (-27.5%), from €64,336 to €46,658
of which Other amounts receivable: -€27,202
- Reserves +€96,224
up €96,224 (+44.3%), from €217,428 to €313,652
- Debts after one year +€59,526
up €59,526 (+35.7%), from €166,517 to €226,044
- Current portion of long-term debt -€15,160
down €15,160 (-35.5%), from €42,725 to €27,564
- Trade debts +€10,697
up €10,697 (+328.1%), from €3,260 to €13,957
- Gross operating margin +€139,486
up €139,486 (+91.8%), from €151,883 to €291,368
- Staff costs +€23,614
up €23,614 (+67.4%), from €35,055 to €58,669
- Taxes +€15,288
up €15,288 (+37.1%), from €41,224 to €56,512
- Financial charges +€9,791
up €9,791 (+286.1%), from €3,422 to €13,213
of which Financial charges: +€10,522
- Other operating charges +€8,265
up €8,265 (+894.3%), from €924 to €9,190
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 | €491,239 | €643,645 | +€152,406 | +31.0% |
| Fixed assets | 21/28 | €48,475 | €252,950 | +€204,475 | +421.8% |
| Intangible fixed assets | 21 | €12,466 | €0 | -€12,466 | -100.0% |
| Tangible fixed assets | 22/27 | €36,009 | €252,950 | +€216,941 | +602.5% |
| Land and buildings | 22 | €4,677 | €227,174 | +€222,498 | +4757.5% |
| Plant, machinery and equipment | 23 | €2,104 | €1,313 | -€791 | -37.6% |
| Furniture and vehicles | 24 | €29,229 | €24,463 | -€4,766 | -16.3% |
| Current assets | 29/58 | €442,764 | €390,695 | -€52,069 | -11.8% |
| Stocks and contracts in progress | 3 | €244,384 | €196,345 | -€48,039 | -19.7% |
| Stocks | 30/36 | €244,384 | €196,345 | -€48,039 | -19.7% |
| Amounts receivable within one year | 40/41 | €64,336 | €46,658 | -€17,678 | -27.5% |
| Trade receivables | 40 | €29,500 | €39,025 | +€9,524 | +32.3% |
| Other amounts receivable | 41 | €34,835 | €7,633 | -€27,202 | -78.1% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €81,517 | €146,273 | +€64,756 | +79.4% |
| Deferred charges and accrued income | 490/1 | €2,527 | €1,419 | -€1,107 | -43.8% |
| Total equity and liabilities | 10/49 | €491,239 | €643,645 | +€152,406 | +31.0% |
| Equity | 10/15 | €229,908 | €324,451 | +€94,542 | +41.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | - | -€1,000 | |
| Issued capital | 100 | €1,000 | - | -€1,000 | |
| Reserves | 13 | €217,428 | €313,652 | +€96,224 | +44.3% |
| Distributable reserves | 133 | €217,428 | €313,652 | +€96,224 | +44.3% |
| Profit (loss) carried forward | 14 | €11,480 | €9,798 | -€1,682 | -14.7% |
| Amounts payable | 17/49 | €261,330 | €319,194 | +€57,864 | +22.1% |
| Amounts payable after more than one year | 17 | €166,517 | €226,044 | +€59,526 | +35.7% |
| Financial debts | 170/4 | €166,517 | €226,044 | +€59,526 | +35.7% |
| Amounts payable within one year | 42/48 | €94,813 | €93,151 | -€1,662 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €42,725 | €27,564 | -€15,160 | -35.5% |
| Financial debts | 43 | €2,544 | €6,036 | +€3,493 | +137.3% |
| Credit institutions | 430/8 | €2,544 | €2,480 | -€64 | -2.5% |
| Other loans | 439 | - | €3,556 | +€3,556 | |
| Trade debts | 44 | €3,260 | €13,957 | +€10,697 | +328.1% |
| Suppliers | 440/4 | €3,260 | €13,957 | +€10,697 | +328.1% |
| Taxes, remuneration and social security | 45 | €14,654 | €10,127 | -€4,527 | -30.9% |
| Taxes | 450/3 | €3,315 | €342 | -€2,972 | -89.7% |
| Remuneration and social security | 454/9 | €11,339 | €9,785 | -€1,554 | -13.7% |
| Other amounts payable | 47/48 | €31,630 | €35,465 | +€3,835 | +12.1% |
| Remuneration, social security and pensions | 62 | €35,055 | €58,669 | +€23,614 | +67.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,236 | €30,366 | +€3,129 | +11.5% |
| Other operating charges | 640/8 | €924 | €9,190 | +€8,265 | +894.3% |
| Non-recurring operating charges | 66A | - | €70 | +€70 | |
| Gross operating margin | 9900 | €151,883 | €291,368 | +€139,486 | +91.8% |
| Operating profit (loss) | 9901 | €88,667 | €193,074 | +€104,407 | +117.8% |
| Financial income | 75/76B | €2,407 | €1,194 | -€1,213 | -50.4% |
| Recurring financial income | 75 | €2,407 | €1,194 | -€1,213 | -50.4% |
| Financial charges | 65/66B | €3,422 | €13,213 | +€9,791 | +286.1% |
| Recurring financial charges | 65 | €2,691 | €13,213 | +€10,522 | +391.0% |
| Non-recurring financial charges | 66B | €731 | - | -€731 | |
| Profit (loss) for the period before taxes | 9903 | €87,652 | €181,054 | +€93,402 | +106.6% |
| Income taxes | 67/77 | €41,224 | €56,512 | +€15,288 | +37.1% |
| Profit (loss) for the period | 9904 | €46,428 | €124,542 | +€78,114 | +168.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,428 | €124,542 | +€78,114 | +168.2% |
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 10 October 2026 via checked.be.