TADEX: 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.
TADEX
Largest movements
- Deferred charges and accrued income -€7,190
down €7,190 (-95.9%), from €7,497 to €307
- Tangible fixed assets -€2,936
down €2,936 (-57.1%), from €5,138 to €2,202
of which Furniture and vehicles: -€2,067
- Receivables within one year +€2,673
up €2,673 (+11.2%), from €23,859 to €26,532
of which Trade receivables: +€4,244
- Cash +€1,636
up €1,636 (+60.4%), from €2,707 to €4,343
mainly Trade debts (+€16,353) and Deferred charges and accrued income (+€7,190)
- Profit (loss) carried forward -€36,659
down €36,659 (-265%), from -€13,848 to -€50,507
- Trade debts +€16,353
up €16,353 (+357%), from €4,578 to €20,931
- Tax, wage and social debts +€6,617
up €6,617 (+131%), from €5,035 to €11,652
- Other debts +€6,372
up €6,372 (+400%), from €1,592 to €7,964
- Current portion of long-term debt +€1,500
new in 2025: €1,500
- Turnover -€252,189
down €252,189 (-44.8%), from €562,404 to €310,215
- Purchases and services -€161,631
down €161,631 (-36.9%), from €437,845 to €276,214
- Gross operating margin -€90,558
down €90,558 (-72.7%), from €124,559 to €34,001
- Depreciation -€8,088
down €8,088 (-73.4%), from €11,024 to €2,936
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 | €39,417 | €33,600 | -€5,817 | -14.8% |
| Fixed assets | 21/28 | €5,354 | €2,418 | -€2,936 | -54.8% |
| Tangible fixed assets | 22/27 | €5,138 | €2,202 | -€2,936 | -57.1% |
| Plant, machinery and equipment | 23 | €1,739 | €870 | -€869 | -50.0% |
| Furniture and vehicles | 24 | €3,399 | €1,332 | -€2,067 | -60.8% |
| Financial fixed assets | 28 | €216 | €216 | = | 0.0% |
| Current assets | 29/58 | €34,063 | €31,182 | -€2,881 | -8.5% |
| Amounts receivable within one year | 40/41 | €23,859 | €26,532 | +€2,673 | +11.2% |
| Trade receivables | 40 | €22,288 | €26,532 | +€4,244 | +19.0% |
| Other amounts receivable | 41 | €1,571 | - | -€1,571 | |
| Cash at bank and in hand | 54/58 | €2,707 | €4,343 | +€1,636 | +60.4% |
| Deferred charges and accrued income | 490/1 | €7,497 | €307 | -€7,190 | -95.9% |
| Total equity and liabilities | 10/49 | €39,417 | €33,600 | -€5,817 | -14.8% |
| Equity | 10/15 | €28,212 | -€8,447 | -€36,659 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €35,860 | €35,860 | = | 0.0% |
| Distributable reserves | 133 | €35,860 | €35,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,848 | -€50,507 | -€36,659 | -265% |
| Amounts payable | 17/49 | €11,205 | €42,047 | +€30,842 | +275% |
| Amounts payable within one year | 42/48 | €11,205 | €42,047 | +€30,842 | +275% |
| Current portion of amounts payable after more than one year | 42 | - | €1,500 | +€1,500 | |
| Trade debts | 44 | €4,578 | €20,931 | +€16,353 | +357% |
| Suppliers | 440/4 | €4,578 | €20,931 | +€16,353 | +357% |
| Taxes, remuneration and social security | 45 | €5,035 | €11,652 | +€6,617 | +131% |
| Remuneration and social security | 454/9 | €5,035 | €11,652 | +€6,617 | +131% |
| Other amounts payable | 47/48 | €1,592 | €7,964 | +€6,372 | +400% |
| Turnover | 70 | €562,404 | €310,215 | -€252,189 | -44.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €437,845 | €276,214 | -€161,631 | -36.9% |
| Remuneration, social security and pensions | 62 | €60,023 | €62,545 | +€2,522 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,024 | €2,936 | -€8,088 | -73.4% |
| Other operating charges | 640/8 | €3,411 | €4,730 | +€1,319 | +38.7% |
| Non-recurring operating charges | 66A | €4,024 | €398 | -€3,626 | -90.1% |
| Gross operating margin | 9900 | €124,559 | €34,001 | -€90,558 | -72.7% |
| Operating profit (loss) | 9901 | €46,077 | -€36,608 | -€82,685 | |
| Financial income | 75/76B | €8 | - | -€8 | |
| Recurring financial income | 75 | €8 | - | -€8 | |
| Financial charges | 65/66B | €2,324 | €51 | -€2,273 | -97.8% |
| Recurring financial charges | 65 | €2,324 | €51 | -€2,273 | -97.8% |
| Profit (loss) for the period before taxes | 9903 | €43,761 | -€36,659 | -€80,420 | |
| Profit (loss) for the period | 9904 | €43,761 | -€36,659 | -€80,420 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,761 | -€36,659 | -€80,420 |
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 25 October 2026 via checked.be.