TAGADA: 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.
TAGADA
Largest movements
- Receivables within one year +€37,150
up €37,150 (+28.6%), from €129,886 to €167,035
of which Other amounts receivable: +€38,516
- Tangible fixed assets -€10,850
down €10,850 (-10.0%), from €108,500 to €97,650
- Accrued charges and deferred income +€29,900
new in 2025: €29,900
- Short-term financial debts +€16,363
up €16,363 (+65.2%), from €25,090 to €41,453
of which Other loans: +€17,580
- Debts after one year -€12,234
down €12,234 (-10.1%), from €120,655 to €108,421
- Other debts -€8,400
down €8,400 (-42.9%), from €19,563 to €11,163
- Financial income -€2,683
down €2,683 (-47.2%), from €5,683 to €3,000
- Financial charges -€1,781
down €1,781 (-29.7%), from €5,993 to €4,213
- Gross operating margin -€1,652
down €1,652 (-9.6%), from €17,177 to €15,525
- Taxes -€1,448
no longer reported in 2025 (was €1,448)
- Other operating charges -€551
down €551 (-31.6%), from €1,747 to €1,195
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 | €240,352 | €265,842 | +€25,489 | +10.6% |
| Fixed assets | 21/28 | €108,550 | €97,700 | -€10,850 | -10.0% |
| Tangible fixed assets | 22/27 | €108,500 | €97,650 | -€10,850 | -10.0% |
| Land and buildings | 22 | €108,500 | €97,650 | -€10,850 | -10.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €131,803 | €168,142 | +€36,339 | +27.6% |
| Stocks and contracts in progress | 3 | €1,107 | €1,107 | = | 0.0% |
| Stocks | 30/36 | €1,107 | €1,107 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €129,886 | €167,035 | +€37,150 | +28.6% |
| Trade receivables | 40 | €32,354 | €30,987 | -€1,367 | -4.2% |
| Other amounts receivable | 41 | €97,532 | €136,048 | +€38,516 | +39.5% |
| Cash at bank and in hand | 54/58 | €181 | - | -€181 | |
| Deferred charges and accrued income | 490/1 | €629 | - | -€629 | |
| Total equity and liabilities | 10/49 | €240,352 | €265,842 | +€25,489 | +10.6% |
| Equity | 10/15 | €41,312 | €43,579 | +€2,267 | +5.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €13,150 | €13,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,650 | €11,650 | = | 0.0% |
| Distributable reserves | 133 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,570 | €11,837 | +€2,267 | +23.7% |
| Amounts payable | 17/49 | €199,040 | €222,262 | +€23,222 | +11.7% |
| Amounts payable after more than one year | 17 | €120,655 | €108,421 | -€12,234 | -10.1% |
| Financial debts | 170/4 | €120,655 | €108,421 | -€12,234 | -10.1% |
| Amounts payable within one year | 42/48 | €78,385 | €83,941 | +€5,556 | +7.1% |
| Current portion of amounts payable after more than one year | 42 | €12,234 | €10,145 | -€2,090 | -17.1% |
| Financial debts | 43 | €25,090 | €41,453 | +€16,363 | +65.2% |
| Credit institutions | 430/8 | €23,932 | €22,715 | -€1,217 | -5.1% |
| Other loans | 439 | €1,158 | €18,738 | +€17,580 | +1518.2% |
| Trade debts | 44 | €15,195 | €14,922 | -€273 | -1.8% |
| Suppliers | 440/4 | €15,195 | €14,922 | -€273 | -1.8% |
| Taxes, remuneration and social security | 45 | €6,302 | €6,258 | -€44 | -0.7% |
| Taxes | 450/3 | €6,302 | €6,258 | -€44 | -0.7% |
| Other amounts payable | 47/48 | €19,563 | €11,163 | -€8,400 | -42.9% |
| Accrued charges and deferred income | 492/3 | - | €29,900 | +€29,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,850 | €10,850 | = | 0.0% |
| Other operating charges | 640/8 | €1,747 | €1,195 | -€551 | -31.6% |
| Gross operating margin | 9900 | €17,177 | €15,525 | -€1,652 | -9.6% |
| Operating profit (loss) | 9901 | €4,581 | €3,480 | -€1,101 | -24.0% |
| Financial income | 75/76B | €5,683 | €3,000 | -€2,683 | -47.2% |
| Recurring financial income | 75 | €5,683 | €3,000 | -€2,683 | -47.2% |
| Financial charges | 65/66B | €5,993 | €4,213 | -€1,781 | -29.7% |
| Recurring financial charges | 65 | €5,993 | €4,213 | -€1,781 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €4,271 | €2,267 | -€2,003 | -46.9% |
| Income taxes | 67/77 | €1,448 | - | -€1,448 | |
| Profit (loss) for the period | 9904 | €2,823 | €2,267 | -€555 | -19.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,823 | €2,267 | -€555 | -19.7% |
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 4 October 2026 via checked.be.