TAGNON-DEMOITIE: what changed
TAGNON-DEMOITIE
Largest movements
- Tangible fixed assets -€57,877
down €57,877 (-21.5%), from €268,886 to €211,009
of which Plant, machinery and equipment: -€53,802
- Cash -€54,597
down €54,597 (-24.9%), from €219,126 to €164,528
mainly Contributions, distributions and other (-€100,000) and Debts after one year (-€75,000)
- Deferred charges and accrued income -€22,680
no longer reported in 2025 (was €22,680)
- Receivables within one year +€17,251
up €17,251 (+74.0%), from €23,315 to €40,566
of which Trade receivables: +€17,475
- Profit (loss) carried forward -€115,375
down €115,375 (-72.9%), from €158,254 to €42,879
- Other debts +€88,343
up €88,343 (+538%), from €16,407 to €104,751
- Debts after one year -€75,000
down €75,000 (-22.4%), from €334,894 to €259,894
- Advances received -€20,284
no longer reported in 2025 (was €20,284)
- Current portion of long-term debt -€14,000
no longer reported in 2025 (was €14,000)
- Gross operating margin -€72,436
down €72,436 (-57.5%), from €125,894 to €53,458
- Depreciation -€20,984
down €20,984 (-24.2%), from €86,867 to €65,883
- Taxes -€12,378
down €12,378 (-97.6%), from €12,685 to €307
- Other operating charges +€1,627
up €1,627 (+213%), from €765 to €2,392
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €595,693 | €468,712 | -€126,981 | -21.3% |
| Fixed assets | 21/28 | €278,020 | €214,809 | -€63,211 | -22.7% |
| Intangible fixed assets | 21 | €556 | - | -€556 | |
| Tangible fixed assets | 22/27 | €268,886 | €211,009 | -€57,877 | -21.5% |
| Plant, machinery and equipment | 23 | €240,256 | €186,454 | -€53,802 | -22.4% |
| Furniture and vehicles | 24 | €28,630 | €24,555 | -€4,074 | -14.2% |
| Financial fixed assets | 28 | €8,577 | €3,799 | -€4,778 | -55.7% |
| Current assets | 29/58 | €317,673 | €253,903 | -€63,770 | -20.1% |
| Stocks and contracts in progress | 3 | €52,552 | €48,809 | -€3,744 | -7.1% |
| Stocks | 30/36 | €52,552 | €48,809 | -€3,744 | -7.1% |
| Amounts receivable within one year | 40/41 | €23,315 | €40,566 | +€17,251 | +74.0% |
| Trade receivables | 40 | €23,091 | €40,566 | +€17,475 | +75.7% |
| Other amounts receivable | 41 | €224 | - | -€224 | |
| Cash at bank and in hand | 54/58 | €219,126 | €164,528 | -€54,597 | -24.9% |
| Deferred charges and accrued income | 490/1 | €22,680 | - | -€22,680 | |
| Total equity and liabilities | 10/49 | €595,693 | €468,712 | -€126,981 | -21.3% |
| Equity | 10/15 | €193,454 | €78,079 | -€115,375 | -59.6% |
| Contributions | 10/11 | €32,000 | €32,000 | = | 0.0% |
| Reserves | 13 | €3,200 | €3,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,200 | €3,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,200 | €3,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,254 | €42,879 | -€115,375 | -72.9% |
| Amounts payable | 17/49 | €402,238 | €390,632 | -€11,606 | -2.9% |
| Amounts payable after more than one year | 17 | €334,894 | €259,894 | -€75,000 | -22.4% |
| Other amounts payable | 178/9 | €334,894 | €259,894 | -€75,000 | -22.4% |
| Amounts payable within one year | 42/48 | €67,344 | €130,738 | +€63,394 | +94.1% |
| Current portion of amounts payable after more than one year | 42 | €14,000 | - | -€14,000 | |
| Trade debts | 44 | €3,967 | €12,804 | +€8,837 | +223% |
| Suppliers | 440/4 | €3,967 | €12,804 | +€8,837 | +223% |
| Advances received on contracts in progress | 46 | €20,284 | - | -€20,284 | |
| Taxes, remuneration and social security | 45 | €12,685 | €13,184 | +€498 | +3.9% |
| Taxes | 450/3 | €12,685 | €13,184 | +€498 | +3.9% |
| Other amounts payable | 47/48 | €16,407 | €104,751 | +€88,343 | +538% |
| Non-recurring operating income | 76A | - | €900 | +€900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,867 | €65,883 | -€20,984 | -24.2% |
| Other operating charges | 640/8 | €765 | €2,392 | +€1,627 | +213% |
| Gross operating margin | 9900 | €125,894 | €53,458 | -€72,436 | -57.5% |
| Operating profit (loss) | 9901 | €38,262 | -€14,817 | -€53,079 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €412 | €251 | -€161 | -39.0% |
| Recurring financial charges | 65 | €412 | €251 | -€161 | -39.0% |
| Profit (loss) for the period before taxes | 9903 | €37,851 | -€15,068 | -€52,918 | |
| Income taxes | 67/77 | €12,685 | €307 | -€12,378 | -97.6% |
| Profit (loss) for the period | 9904 | €25,165 | -€15,375 | -€40,541 | |
| Profit (loss) for the period to be appropriated | 9905 | €25,165 | -€15,375 | -€40,541 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.