TAELMAN: what changed
Two fiscal 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.
TAELMAN
Largest movements
- Current investments +€295,176
new in 2025: €295,176
- Cash -€173,022
down €173,022 (-36.5%), from €473,853 to €300,831
mainly Current investments (-€295,176) and Investment in fixed assets (net) (-€81,475)
- Stocks and contracts -€46,410
down €46,410 (-15.7%), from €296,062 to €249,652
- Tangible fixed assets +€46,061
up €46,061 (+23.0%), from €200,521 to €246,582
of which Furniture and vehicles: +€55,694
- Reserves +€74,194
up €74,194 (+27.8%), from €266,907 to €341,101
of which Distributable reserves: +€49,000
- Debts after one year +€28,852
up €28,852 (+19.0%), from €151,900 to €180,752
of which Financial debts: +€38,452
- Current portion of long-term debt +€14,528
up €14,528 (+220.0%), from €6,603 to €21,131
- Tax, wage and social debts -€12,351
down €12,351 (-54.4%), from €22,708 to €10,357
of which Taxes: -€12,467
- Financial income -€85,540
down €85,540 (-91.8%), from €93,158 to €7,618
of which Non-recurring financial income: -€93,123
- Gross operating margin +€58,745
up €58,745 (+56.0%), from €104,825 to €163,570
- Write-downs -€11,728
no longer reported in 2025 (was €11,728)
- Taxes -€10,857
down €10,857 (-36.3%), from €29,927 to €19,070
- Financial charges +€2,554
up €2,554 (+59.9%), from €4,265 to €6,819
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 | €1,123,110 | €1,234,986 | +€111,876 | +10.0% |
| Fixed assets | 21/28 | €206,259 | €251,197 | +€44,938 | +21.8% |
| Intangible fixed assets | 21 | €5,613 | €4,490 | -€1,123 | -20.0% |
| Tangible fixed assets | 22/27 | €200,521 | €246,582 | +€46,061 | +23.0% |
| Land and buildings | 22 | €136,533 | €131,445 | -€5,088 | -3.7% |
| Plant, machinery and equipment | 23 | €61,307 | €56,762 | -€4,545 | -7.4% |
| Furniture and vehicles | 24 | €2,681 | €58,375 | +€55,694 | +2077.4% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €916,851 | €983,789 | +€66,938 | +7.3% |
| Stocks and contracts in progress | 3 | €296,062 | €249,652 | -€46,410 | -15.7% |
| Stocks | 30/36 | €296,062 | €249,652 | -€46,410 | -15.7% |
| Amounts receivable within one year | 40/41 | €140,332 | €132,548 | -€7,784 | -5.5% |
| Trade receivables | 40 | €140,332 | €128,368 | -€11,964 | -8.5% |
| Other amounts receivable | 41 | - | €4,180 | +€4,180 | |
| Current investments | 50/53 | - | €295,176 | +€295,176 | |
| Cash at bank and in hand | 54/58 | €473,853 | €300,831 | -€173,022 | -36.5% |
| Deferred charges and accrued income | 490/1 | €6,604 | €5,582 | -€1,022 | -15.5% |
| Total equity and liabilities | 10/49 | €1,123,110 | €1,234,986 | +€111,876 | +10.0% |
| Equity | 10/15 | €834,974 | €909,223 | +€74,249 | +8.9% |
| Contributions | 10/11 | €243,500 | €243,500 | = | 0.0% |
| Reserves | 13 | €266,907 | €341,101 | +€74,194 | +27.8% |
| Tax-exempt reserves | 132 | €63,807 | €89,001 | +€25,194 | +39.5% |
| Distributable reserves | 133 | €203,100 | €252,100 | +€49,000 | +24.1% |
| Profit (loss) carried forward | 14 | €324,567 | €324,622 | +€55 | 0.0% |
| Provisions and deferred taxes | 16 | €13,690 | €22,089 | +€8,399 | +61.4% |
| Deferred taxes | 168 | €13,690 | €22,089 | +€8,399 | +61.4% |
| Amounts payable | 17/49 | €274,446 | €303,674 | +€29,228 | +10.6% |
| Amounts payable after more than one year | 17 | €151,900 | €180,752 | +€28,852 | +19.0% |
| Financial debts | 170/4 | €19,970 | €58,422 | +€38,452 | +192.5% |
| Other amounts payable | 178/9 | €131,930 | €122,330 | -€9,600 | -7.3% |
| Amounts payable within one year | 42/48 | €121,930 | €122,922 | +€992 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €6,603 | €21,131 | +€14,528 | +220.0% |
| Trade debts | 44 | €22,408 | €27,272 | +€4,864 | +21.7% |
| Suppliers | 440/4 | €22,408 | €27,272 | +€4,864 | +21.7% |
| Taxes, remuneration and social security | 45 | €22,708 | €10,357 | -€12,351 | -54.4% |
| Taxes | 450/3 | €18,470 | €6,003 | -€12,467 | -67.5% |
| Remuneration and social security | 454/9 | €4,238 | €4,354 | +€116 | +2.7% |
| Other amounts payable | 47/48 | €70,211 | €64,162 | -€6,049 | -8.6% |
| Accrued charges and deferred income | 492/3 | €616 | - | -€616 | |
| Non-recurring operating income | 76A | - | €48,348 | +€48,348 | |
| Remuneration, social security and pensions | 62 | €20,422 | €20,948 | +€526 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,392 | €36,537 | +€2,145 | +6.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,728 | - | -€11,728 | |
| Other operating charges | 640/8 | €2,571 | €3,485 | +€914 | +35.6% |
| Non-recurring operating charges | 66A | - | €1,681 | +€1,681 | |
| Gross operating margin | 9900 | €104,825 | €163,570 | +€58,745 | +56.0% |
| Operating profit (loss) | 9901 | €35,712 | €100,919 | +€65,207 | +182.6% |
| Financial income | 75/76B | €93,158 | €7,618 | -€85,540 | -91.8% |
| Recurring financial income | 75 | €35 | €7,618 | +€7,583 | +21665.7% |
| Non-recurring financial income | 76B | €93,123 | - | -€93,123 | |
| Financial charges | 65/66B | €4,265 | €6,819 | +€2,554 | +59.9% |
| Recurring financial charges | 65 | €4,265 | €6,819 | +€2,554 | +59.9% |
| Profit (loss) for the period before taxes | 9903 | €124,605 | €101,718 | -€22,887 | -18.4% |
| Transfer from deferred taxes | 780 | €2,440 | €3,602 | +€1,162 | +47.6% |
| Transfer to deferred taxes | 680 | - | €12,000 | +€12,000 | |
| Income taxes | 67/77 | €29,927 | €19,070 | -€10,857 | -36.3% |
| Profit (loss) for the period | 9904 | €97,118 | €74,250 | -€22,868 | -23.5% |
| Transfer from tax-exempt reserves | 789 | €7,321 | €10,805 | +€3,484 | +47.6% |
| Transfer to tax-exempt reserves | 689 | - | €36,000 | +€36,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,439 | €49,055 | -€55,384 | -53.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.