TAFELROND: what changed
What changed
TAFELROND
NACE 55.100, Hotels and similar accommodation
filed annual accounts (NBB)
Net result for the year
-€2.1m
2024 · -€1.3m-€832,509
Equity
-€20.4m
2024 · -€18.2m-€2.2m
Cash
€21,498
2024 · €46,004-€24,506
Balance sheet total
€7.2m
2024 · €8.4m-€1.2m
Largest movements
Assets
- Tangible fixed assets -€1.1m
down €1.1m (-13.0%), from €8.2m to €7.1m
of which Land and buildings: -€701,890
- Receivables within one year -€147,086
down €147,086 (-96.9%), from €151,726 to €4,639
of which Other amounts receivable: -€150,414
Equity and liabilities
- Profit (loss) carried forward -€2.1m
down €2.1m (-11.5%), from -€18.7m to -€20.8m
- Short-term financial debts +€970,903
up €970,903 (+259%), from €374,955 to €1.3m
- Debts after one year -€933,556
down €933,556 (-13.4%), from €7.0m to €6.0m
- Other debts +€672,032
up €672,032 (+3.7%), from €18.0m to €18.7m
- Provisions +€300,000
new in 2025: €300,000
Income statement
- Financial income -€869,211
down €869,211 (-97.7%), from €889,959 to €20,748
- Gross operating margin -€538,795
down €538,795, from €125,789 to -€413,006
- Financial charges -€356,643
down €356,643 (-56.6%), from €629,886 to €273,243
of which Financial charges: -€355,717
- Provisions +€300,000
new in 2025: €300,000
- Depreciation -€262,251
down €262,251 (-20.9%), from €1.3m to €990,599
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€1.3m
Gross operating margin
-€538,795
Staff costs
+€182,994
Depreciation
+€262,251
Provisions
-€300,000
Other operating charges
+€73,611
Financial income
-€869,211
Financial charges
+€356,643
Result 2025
-€2.1m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€296,126
Investment
+€80,385
Financing
+€191,235
Cash 2024
€46,004
From operations (derived)
-€296,126
Net result for the year
-€2.1m
Depreciation
+€990,599
Receivables within one year
+€147,086
Deferred charges and accrued income
+€1,008
Provisions
+€300,000
Trade debts
-€141,115
Tax, wage and social debts
-€134,509
Other debts
+€672,032
Accrued charges and deferred income
+€13,361
Investment (derived)
+€80,385
Investment in fixed assets (net)
+€80,385
Financing
+€191,235
Debts after one year
-€933,556
Current portion of long-term debt
+€174,636
Short-term financial debts
+€970,903
Contributions, distributions and other
-€20,748
Cash 2025
€21,498
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,410,348 | €7,166,764 | -€1.2m | -14.8% |
| Fixed assets | 21/28 | €8,211,610 | €7,140,626 | -€1.1m | -13.0% |
| Tangible fixed assets | 22/27 | €8,211,610 | €7,140,626 | -€1.1m | -13.0% |
| Land and buildings | 22 | €6,519,363 | €5,817,474 | -€701,890 | -10.8% |
| Plant, machinery and equipment | 23 | €1,627,224 | €1,273,041 | -€354,183 | -21.8% |
| Furniture and vehicles | 24 | €5,982 | - | -€5,982 | |
| Other tangible fixed assets | 26 | €59,041 | €50,111 | -€8,930 | -15.1% |
| Current assets | 29/58 | €198,738 | €26,138 | -€172,601 | -86.8% |
| Amounts receivable within one year | 40/41 | €151,726 | €4,639 | -€147,086 | -96.9% |
| Trade receivables | 40 | - | €3,328 | +€3,328 | |
| Other amounts receivable | 41 | €151,726 | €1,312 | -€150,414 | -99.1% |
| Cash at bank and in hand | 54/58 | €46,004 | €21,498 | -€24,506 | -53.3% |
| Deferred charges and accrued income | 490/1 | €1,008 | - | -€1,008 | |
| Total equity and liabilities | 10/49 | €8,410,348 | €7,166,764 | -€1.2m | -14.8% |
| Equity | 10/15 | -€18,200,525 | -€20,365,861 | -€2.2m | -11.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,675,594 | -€20,820,183 | -€2.1m | -11.5% |
| Investment grants | 15 | €375,069 | €354,321 | -€20,748 | -5.5% |
| Provisions and deferred taxes | 16 | - | €300,000 | +€300,000 | |
| Provisions for liabilities and charges | 160/5 | - | €300,000 | +€300,000 | |
| Other liabilities and charges | 164/5 | - | €300,000 | +€300,000 | |
| Amounts payable | 17/49 | €26,610,873 | €27,232,625 | +€621,752 | +2.3% |
| Amounts payable after more than one year | 17 | €6,956,443 | €6,022,887 | -€933,556 | -13.4% |
| Financial debts | 170/4 | €6,956,443 | €6,022,887 | -€933,556 | -13.4% |
| Amounts payable within one year | 42/48 | €19,654,429 | €21,196,377 | +€1.5m | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €835,678 | €1,010,314 | +€174,636 | +20.9% |
| Financial debts | 43 | €374,955 | €1,345,858 | +€970,903 | +259% |
| Credit institutions | 430/8 | €374,955 | €1,345,858 | +€970,903 | +259% |
| Trade debts | 44 | €284,445 | €143,330 | -€141,115 | -49.6% |
| Suppliers | 440/4 | €284,445 | €143,330 | -€141,115 | -49.6% |
| Taxes, remuneration and social security | 45 | €159,782 | €25,273 | -€134,509 | -84.2% |
| Taxes | 450/3 | €82,925 | €312 | -€82,613 | -99.6% |
| Remuneration and social security | 454/9 | €76,856 | €24,961 | -€51,896 | -67.5% |
| Other amounts payable | 47/48 | €17,999,570 | €18,671,602 | +€672,032 | +3.7% |
| Accrued charges and deferred income | 492/3 | - | €13,361 | +€13,361 | |
| Remuneration, social security and pensions | 62 | €324,591 | €141,598 | -€182,994 | -56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,252,850 | €990,599 | -€262,251 | -20.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €300,000 | +€300,000 | |
| Other operating charges | 640/8 | €120,501 | €46,890 | -€73,611 | -61.1% |
| Gross operating margin | 9900 | €125,789 | -€413,006 | -€538,795 | |
| Operating profit (loss) | 9901 | -€1,572,153 | -€1,892,093 | -€319,941 | -20.4% |
| Financial income | 75/76B | €889,959 | €20,748 | -€869,211 | -97.7% |
| Recurring financial income | 75 | €889,959 | €20,748 | -€869,211 | -97.7% |
| Financial charges | 65/66B | €629,886 | €273,243 | -€356,643 | -56.6% |
| Recurring financial charges | 65 | €628,961 | €273,243 | -€355,717 | -56.6% |
| Non-recurring financial charges | 66B | €925 | - | -€925 | |
| Profit (loss) for the period before taxes | 9903 | -€1,312,079 | -€2,144,589 | -€832,509 | -63.4% |
| Profit (loss) for the period | 9904 | -€1,312,079 | -€2,144,589 | -€832,509 | -63.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,312,079 | -€2,144,589 | -€832,509 | -63.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.