TADEBA: 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.
TADEBA
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+2,890%), from €44,535 to €1.3m
of which Land and buildings: +€1.3m
- Current investments -€600,000
down €600,000 (-59.3%), from €1.0m to €411,876
- Receivables within one year +€52,339
up €52,339 (+35.7%), from €146,734 to €199,073
of which Other amounts receivable: +€52,386
- Cash +€37,818
up €37,818 (+15.0%), from €252,322 to €290,141
mainly Current investments (+€600,000) and Debts after one year (+€520,912)
- Debts after one year +€520,912
new in 2025: €520,912
- Reserves +€204,768
up €204,768 (+15.4%), from €1.3m to €1.5m
of which Distributable reserves: +€204,768
- Current portion of long-term debt +€31,277
new in 2025: €31,277
- Gross operating margin +€63,971
up €63,971 (+28.6%), from €223,404 to €287,375
- Financial income +€26,702
up €26,702 (+110%), from €24,300 to €51,002
- Taxes +€20,020
up €20,020 (+28.7%), from €69,676 to €89,695
- Financial charges +€9,400
up €9,400 (+418%), from €2,246 to €11,646
- Depreciation +€8,208
up €8,208 (+68.0%), from €12,073 to €20,280
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 | €1,460,556 | €2,240,925 | +€780,369 | +53.4% |
| Fixed assets | 21/28 | €44,535 | €1,331,561 | +€1.3m | +2,890% |
| Tangible fixed assets | 22/27 | €44,535 | €1,331,561 | +€1.3m | +2,890% |
| Land and buildings | 22 | - | €1,262,131 | +€1.3m | |
| Plant, machinery and equipment | 23 | €3,830 | €2,945 | -€886 | -23.1% |
| Furniture and vehicles | 24 | €38,891 | €60,842 | +€21,952 | +56.4% |
| Other tangible fixed assets | 26 | €1,814 | €1,193 | -€621 | -34.2% |
| Assets under construction and advance payments | 27 | - | €4,450 | +€4,450 | |
| Current assets | 29/58 | €1,416,022 | €909,365 | -€506,657 | -35.8% |
| Amounts receivable within one year | 40/41 | €146,734 | €199,073 | +€52,339 | +35.7% |
| Trade receivables | 40 | €120 | €73 | -€47 | -38.9% |
| Other amounts receivable | 41 | €146,614 | €199,000 | +€52,386 | +35.7% |
| Current investments | 50/53 | €1,011,876 | €411,876 | -€600,000 | -59.3% |
| Cash at bank and in hand | 54/58 | €252,322 | €290,141 | +€37,818 | +15.0% |
| Deferred charges and accrued income | 490/1 | €5,088 | €8,274 | +€3,186 | +62.6% |
| Total equity and liabilities | 10/49 | €1,460,556 | €2,240,925 | +€780,369 | +53.4% |
| Equity | 10/15 | €1,430,234 | €1,635,001 | +€204,768 | +14.3% |
| Contributions | 10/11 | €98,200 | €98,200 | = | 0.0% |
| Reserves | 13 | €1,332,034 | €1,536,801 | +€204,768 | +15.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,332,034 | €1,536,801 | +€204,768 | +15.4% |
| Amounts payable | 17/49 | €30,322 | €605,924 | +€575,601 | +1,898% |
| Amounts payable after more than one year | 17 | - | €520,912 | +€520,912 | |
| Financial debts | 170/4 | - | €520,912 | +€520,912 | |
| Amounts payable within one year | 42/48 | €28,836 | €82,560 | +€53,724 | +186% |
| Current portion of amounts payable after more than one year | 42 | - | €31,277 | +€31,277 | |
| Trade debts | 44 | €563 | €3,399 | +€2,836 | +504% |
| Suppliers | 440/4 | €563 | €3,399 | +€2,836 | +504% |
| Taxes, remuneration and social security | 45 | €1,327 | €6,439 | +€5,113 | +385% |
| Taxes | 450/3 | €1,327 | €6,439 | +€5,113 | +385% |
| Other amounts payable | 47/48 | €26,946 | €41,444 | +€14,498 | +53.8% |
| Accrued charges and deferred income | 492/3 | €1,486 | €2,452 | +€966 | +65.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,073 | €20,280 | +€8,208 | +68.0% |
| Other operating charges | 640/8 | €1,608 | €4,528 | +€2,920 | +182% |
| Non-recurring operating charges | 66A | - | €7,460 | +€7,460 | |
| Gross operating margin | 9900 | €223,404 | €287,375 | +€63,971 | +28.6% |
| Operating profit (loss) | 9901 | €209,724 | €255,107 | +€45,383 | +21.6% |
| Financial income | 75/76B | €24,300 | €51,002 | +€26,702 | +110% |
| Recurring financial income | 75 | €24,300 | €51,002 | +€26,702 | +110% |
| Financial charges | 65/66B | €2,246 | €11,646 | +€9,400 | +418% |
| Recurring financial charges | 65 | €2,246 | €11,646 | +€9,400 | +418% |
| Profit (loss) for the period before taxes | 9903 | €231,778 | €294,463 | +€62,685 | +27.0% |
| Income taxes | 67/77 | €69,676 | €89,695 | +€20,020 | +28.7% |
| Profit (loss) for the period | 9904 | €162,102 | €204,768 | +€42,665 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €162,102 | €204,768 | +€42,665 | +26.3% |
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 20 October 2026 via checked.be.