TAG: 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.
TAG
Largest movements
- Cash +€95,679
up €95,679 (+20.9%), from €457,540 to €553,219
mainly Net result for the year (+€129,244) and Deferred charges and accrued income (+€1,674)
- Receivables within one year +€26,807
up €26,807 (+59.5%), from €45,046 to €71,853
of which Trade receivables: +€26,817
- Reserves +€129,200
up €129,200 (+31.3%), from €413,035 to €542,235
of which Distributable reserves: +€129,200
- Gross operating margin +€122,369
up €122,369 (+175.9%), from €69,584 to €191,953
- Taxes +€38,099
up €38,099 (+164.0%), from €23,229 to €61,327
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 | €504,652 | €625,464 | +€120,812 | +23.9% |
| Current assets | 29/58 | €504,652 | €625,464 | +€120,812 | +23.9% |
| Amounts receivable within one year | 40/41 | €45,046 | €71,853 | +€26,807 | +59.5% |
| Trade receivables | 40 | €45,036 | €71,853 | +€26,817 | +59.5% |
| Other amounts receivable | 41 | €10 | €0 | -€10 | -100.0% |
| Cash at bank and in hand | 54/58 | €457,540 | €553,219 | +€95,679 | +20.9% |
| Deferred charges and accrued income | 490/1 | €2,066 | €392 | -€1,674 | -81.0% |
| Total equity and liabilities | 10/49 | €504,652 | €625,464 | +€120,812 | +23.9% |
| Equity | 10/15 | €437,092 | €566,335 | +€129,244 | +29.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €413,035 | €542,235 | +€129,200 | +31.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €413,035 | €542,235 | +€129,200 | +31.3% |
| Profit (loss) carried forward | 14 | €5,457 | €5,500 | +€44 | +0.8% |
| Amounts payable | 17/49 | €67,560 | €59,128 | -€8,432 | -12.5% |
| Amounts payable within one year | 42/48 | €67,560 | €59,128 | -€8,432 | -12.5% |
| Trade debts | 44 | €3,083 | €1,087 | -€1,996 | -64.7% |
| Suppliers | 440/4 | €3,083 | €1,087 | -€1,996 | -64.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €32,332 | €29,296 | -€3,036 | -9.4% |
| Taxes | 450/3 | €32,332 | €25,846 | -€6,486 | -20.1% |
| Remuneration and social security | 454/9 | - | €3,450 | +€3,450 | |
| Other amounts payable | 47/48 | €32,145 | €28,745 | -€3,399 | -10.6% |
| Other operating charges | 640/8 | €1,562 | €1,204 | -€358 | -22.9% |
| Gross operating margin | 9900 | €69,584 | €191,953 | +€122,369 | +175.9% |
| Operating profit (loss) | 9901 | €68,022 | €190,749 | +€122,727 | +180.4% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €67 | €178 | +€112 | +167.6% |
| Recurring financial charges | 65 | €67 | €178 | +€112 | +167.6% |
| Profit (loss) for the period before taxes | 9903 | €67,956 | €190,571 | +€122,615 | +180.4% |
| Income taxes | 67/77 | €23,229 | €61,327 | +€38,099 | +164.0% |
| Profit (loss) for the period | 9904 | €44,727 | €129,244 | +€84,517 | +189.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,727 | €129,244 | +€84,517 | +189.0% |
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 29 September 2026 via checked.be.