TAGO: what changed
Two financial 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.
TAGO
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Profit (loss) carried forward +€11,373
up €11,373 (+5.7%), from €201,152 to €212,524
- Tax, wage and social debts -€7,092
down €7,092 (-90.3%), from €7,854 to €761
of which Taxes: -€6,092
- Debts after one year -€6,648
down €6,648 (-44.5%), from €14,954 to €8,306
- Gross operating margin -€8,126
down €8,126 (-29.4%), from €27,647 to €19,521
- Taxes -€4,158
down €4,158 (-78.0%), from €5,330 to €1,173
- Staff costs +€614
new in 2025: €614
- Financial charges -€431
down €431 (-29.2%), from €1,475 to €1,044
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 | €419,212 | €419,757 | +€545 | +0.1% |
| Fixed assets | 21/28 | €366,164 | €365,512 | -€652 | -0.2% |
| Tangible fixed assets | 22/27 | €366,139 | €365,487 | -€652 | -0.2% |
| Land and buildings | 22 | €365,895 | €365,487 | -€407 | -0.1% |
| Plant, machinery and equipment | 23 | €245 | €0 | -€245 | -100.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €53,048 | €54,244 | +€1,197 | +2.3% |
| Amounts receivable within one year | 40/41 | €49,375 | €51,702 | +€2,327 | +4.7% |
| Trade receivables | 40 | €45,375 | €48,875 | +€3,500 | +7.7% |
| Other amounts receivable | 41 | €4,000 | €2,827 | -€1,173 | -29.3% |
| Cash at bank and in hand | 54/58 | €3,673 | €2,542 | -€1,130 | -30.8% |
| Total equity and liabilities | 10/49 | €419,212 | €419,757 | +€545 | +0.1% |
| Equity | 10/15 | €279,252 | €290,624 | +€11,373 | +4.1% |
| Contributions | 10/11 | €71,000 | €71,000 | = | 0.0% |
| Capital | 10 | €71,000 | €71,000 | = | 0.0% |
| Issued capital | 100 | €71,000 | €71,000 | = | 0.0% |
| Reserves | 13 | €7,100 | €7,100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,100 | €7,100 | = | 0.0% |
| Legal reserve | 130 | €7,100 | €7,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €201,152 | €212,524 | +€11,373 | +5.7% |
| Amounts payable | 17/49 | €139,960 | €129,133 | -€10,827 | -7.7% |
| Amounts payable after more than one year | 17 | €14,954 | €8,306 | -€6,648 | -44.5% |
| Financial debts | 170/4 | €14,954 | €8,306 | -€6,648 | -44.5% |
| Amounts payable within one year | 42/48 | €125,006 | €120,827 | -€4,179 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €9,957 | €6,785 | -€3,172 | -31.9% |
| Trade debts | 44 | €1,012 | €4,769 | +€3,757 | +371.2% |
| Suppliers | 440/4 | €1,012 | €4,769 | +€3,757 | +371.2% |
| Taxes, remuneration and social security | 45 | €7,854 | €761 | -€7,092 | -90.3% |
| Taxes | 450/3 | €6,854 | €761 | -€6,092 | -88.9% |
| Remuneration and social security | 454/9 | €1,000 | €0 | -€1,000 | -100.0% |
| Other amounts payable | 47/48 | €106,183 | €108,511 | +€2,327 | +2.2% |
| Remuneration, social security and pensions | 62 | - | €614 | +€614 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €652 | €652 | -€1 | -0.1% |
| Other operating charges | 640/8 | €4,696 | €4,666 | -€30 | -0.6% |
| Gross operating margin | 9900 | €27,647 | €19,521 | -€8,126 | -29.4% |
| Operating profit (loss) | 9901 | €22,299 | €13,590 | -€8,710 | -39.1% |
| Financial charges | 65/66B | €1,475 | €1,044 | -€431 | -29.2% |
| Recurring financial charges | 65 | €1,475 | €1,044 | -€431 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €20,824 | €12,545 | -€8,279 | -39.8% |
| Income taxes | 67/77 | €5,330 | €1,173 | -€4,158 | -78.0% |
| Profit (loss) for the period | 9904 | €15,494 | €11,373 | -€4,121 | -26.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,494 | €11,373 | -€4,121 | -26.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.