Taels: 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.
Taels
Largest movements
- Tangible fixed assets +€47,702
new in 2025: €47,702
- Current investments +€45,245
new in 2025: €45,245
- Cash -€14,699
down €14,699 (-33.1%), from €44,381 to €29,682
mainly Investment in fixed assets (net) (-€52,998) and Current investments (-€45,245)
- Receivables within one year -€1,434
down €1,434 (-7.5%), from €19,169 to €17,735
of which Trade receivables: -€1,418
- Reserves +€35,922
up €35,922 (+87.2%), from €41,195 to €77,117
- Debts after one year +€28,444
new in 2025: €28,444
- Current portion of long-term debt +€7,559
new in 2025: €7,559
- Tax, wage and social debts +€5,702
up €5,702 (+29.3%), from €19,494 to €25,196
- Depreciation +€5,297
new in 2025: €5,297
- Financial charges +€1,355
up €1,355 (+4079.0%), from €33 to €1,388
- Taxes -€1,129
down €1,129 (-10.6%), from €10,634 to €9,505
- Financial income +€719
up €719 (+1578.7%), from €46 to €765
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 | €63,550 | €141,543 | +€77,993 | +122.7% |
| Fixed assets | 21/28 | - | €47,702 | +€47,702 | |
| Tangible fixed assets | 22/27 | - | €47,702 | +€47,702 | |
| Furniture and vehicles | 24 | - | €47,702 | +€47,702 | |
| Current assets | 29/58 | €63,550 | €93,841 | +€30,292 | +47.7% |
| Amounts receivable within one year | 40/41 | €19,169 | €17,735 | -€1,434 | -7.5% |
| Trade receivables | 40 | €19,077 | €17,659 | -€1,418 | -7.4% |
| Other amounts receivable | 41 | €92 | €76 | -€16 | -17.7% |
| Current investments | 50/53 | - | €45,245 | +€45,245 | |
| Cash at bank and in hand | 54/58 | €44,381 | €29,682 | -€14,699 | -33.1% |
| Deferred charges and accrued income | 490/1 | - | €1,179 | +€1,179 | |
| Total equity and liabilities | 10/49 | €63,550 | €141,543 | +€77,993 | +122.7% |
| Equity | 10/15 | €42,195 | €78,117 | +€35,922 | +85.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €41,195 | €77,117 | +€35,922 | +87.2% |
| Distributable reserves | 133 | €41,195 | €77,117 | +€35,922 | +87.2% |
| Amounts payable | 17/49 | €21,355 | €63,426 | +€42,071 | +197.0% |
| Amounts payable after more than one year | 17 | - | €28,444 | +€28,444 | |
| Financial debts | 170/4 | - | €28,444 | +€28,444 | |
| Amounts payable within one year | 42/48 | €21,355 | €34,982 | +€13,627 | +63.8% |
| Current portion of amounts payable after more than one year | 42 | - | €7,559 | +€7,559 | |
| Trade debts | 44 | €171 | €215 | +€43 | +25.1% |
| Suppliers | 440/4 | €171 | €215 | +€43 | +25.1% |
| Taxes, remuneration and social security | 45 | €19,494 | €25,196 | +€5,702 | +29.3% |
| Taxes | 450/3 | €19,494 | €25,196 | +€5,702 | +29.3% |
| Other amounts payable | 47/48 | €1,690 | €2,013 | +€323 | +19.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,297 | +€5,297 | |
| Other operating charges | 640/8 | €156 | €120 | -€36 | -22.8% |
| Gross operating margin | 9900 | €51,972 | €51,467 | -€505 | -1.0% |
| Operating profit (loss) | 9901 | €51,816 | €46,050 | -€5,766 | -11.1% |
| Financial income | 75/76B | €46 | €765 | +€719 | +1578.7% |
| Recurring financial income | 75 | €46 | €765 | +€719 | +1578.7% |
| Financial charges | 65/66B | €33 | €1,388 | +€1,355 | +4079.0% |
| Recurring financial charges | 65 | €33 | €1,388 | +€1,355 | +4079.0% |
| Profit (loss) for the period before taxes | 9903 | €51,829 | €45,427 | -€6,402 | -12.4% |
| Income taxes | 67/77 | €10,634 | €9,505 | -€1,129 | -10.6% |
| Profit (loss) for the period | 9904 | €41,195 | €35,922 | -€5,273 | -12.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,195 | €35,922 | -€5,273 | -12.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.