TAELMAN SERVAAS: 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.
TAELMAN SERVAAS
Largest movements
- Receivables within one year +€75,999
up €75,999 (+43.4%), from €174,955 to €250,955
of which Other amounts receivable: +€66,056
- Tangible fixed assets -€11,618
down €11,618 (-47.7%), from €24,378 to €12,760
- Reserves +€55,236
up €55,236 (+26.5%), from €208,335 to €263,571
of which Distributable reserves: +€55,236
- Advances received +€12,636
new in 2025: €12,636
- Debts after one year -€10,642
down €10,642 (-92.1%), from €11,553 to €911
- Tax, wage and social debts +€7,427
up €7,427 (+27.0%), from €27,465 to €34,892
- Gross operating margin +€15,791
up €15,791 (+21.6%), from €73,107 to €88,898
- Taxes +€5,253
up €5,253 (+28.8%), from €18,212 to €23,464
- Financial charges -€1,411
down €1,411 (-56.9%), from €2,481 to €1,070
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 | €299,753 | €364,036 | +€64,283 | +21.4% |
| Fixed assets | 21/28 | €24,378 | €12,760 | -€11,618 | -47.7% |
| Tangible fixed assets | 22/27 | €24,378 | €12,760 | -€11,618 | -47.7% |
| Furniture and vehicles | 24 | €24,378 | €12,760 | -€11,618 | -47.7% |
| Current assets | 29/58 | €275,375 | €351,276 | +€75,901 | +27.6% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €174,955 | €250,955 | +€75,999 | +43.4% |
| Trade receivables | 40 | €500 | €10,443 | +€9,943 | +1,989% |
| Other amounts receivable | 41 | €174,455 | €240,511 | +€66,056 | +37.9% |
| Cash at bank and in hand | 54/58 | €309 | €204 | -€104 | -33.8% |
| Deferred charges and accrued income | 490/1 | €110 | €116 | +€6 | +5.3% |
| Total equity and liabilities | 10/49 | €299,753 | €364,036 | +€64,283 | +21.4% |
| Equity | 10/15 | €202,747 | €257,982 | +€55,236 | +27.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €208,335 | €263,571 | +€55,236 | +26.5% |
| Tax-exempt reserves | 132 | €9,639 | €9,639 | = | 0.0% |
| Distributable reserves | 133 | €198,695 | €253,931 | +€55,236 | +27.8% |
| Profit (loss) carried forward | 14 | -€18,088 | -€18,088 | = | 0.0% |
| Provisions and deferred taxes | 16 | €44,488 | €44,488 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €44,488 | €44,488 | = | 0.0% |
| Pensions and similar obligations | 160 | €44,488 | €44,488 | = | 0.0% |
| Amounts payable | 17/49 | €52,518 | €61,566 | +€9,047 | +17.2% |
| Amounts payable after more than one year | 17 | €11,553 | €911 | -€10,642 | -92.1% |
| Financial debts | 170/4 | €11,553 | €911 | -€10,642 | -92.1% |
| Amounts payable within one year | 42/48 | €40,965 | €60,654 | +€19,689 | +48.1% |
| Current portion of amounts payable after more than one year | 42 | €10,125 | €10,642 | +€517 | +5.1% |
| Financial debts | 43 | €3,101 | €2,452 | -€649 | -20.9% |
| Credit institutions | 430/8 | €3,101 | €2,452 | -€649 | -20.9% |
| Trade debts | 44 | €274 | €32 | -€242 | -88.3% |
| Suppliers | 440/4 | €274 | €32 | -€242 | -88.3% |
| Advances received on contracts in progress | 46 | - | €12,636 | +€12,636 | |
| Taxes, remuneration and social security | 45 | €27,465 | €34,892 | +€7,427 | +27.0% |
| Taxes | 450/3 | €27,465 | €34,892 | +€7,427 | +27.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,758 | €11,618 | -€140 | -1.2% |
| Other operating charges | 640/8 | €563 | €579 | +€16 | +2.8% |
| Gross operating margin | 9900 | €73,107 | €88,898 | +€15,791 | +21.6% |
| Operating profit (loss) | 9901 | €60,786 | €76,701 | +€15,915 | +26.2% |
| Financial income | 75/76B | €3,069 | €3,069 | +€0 | 0.0% |
| Recurring financial income | 75 | €3,069 | €3,069 | +€0 | 0.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €2,481 | €1,070 | -€1,411 | -56.9% |
| Recurring financial charges | 65 | €2,481 | €1,070 | -€1,411 | -56.9% |
| Profit (loss) for the period before taxes | 9903 | €61,374 | €78,700 | +€17,326 | +28.2% |
| Income taxes | 67/77 | €18,212 | €23,464 | +€5,253 | +28.8% |
| Profit (loss) for the period | 9904 | €43,162 | €55,236 | +€12,073 | +28.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,162 | €55,236 | +€12,073 | +28.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.