TAGOMAGO: 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.
TAGOMAGO
Largest movements
- Receivables within one year +€95,272
up €95,272 (+80.0%), from €119,064 to €214,336
of which Other amounts receivable: +€64,644
- Cash +€42,148
up €42,148 (+374.4%), from €11,257 to €53,405
mainly Depreciation (+€44,496) and Trade debts (+€44,302)
- Intangible fixed assets -€19,279
down €19,279 (-100.0%), from €19,279 to €0
- Stocks and contracts -€12,989
down €12,989 (-4.0%), from €323,511 to €310,522
- Tangible fixed assets -€12,194
down €12,194 (-12.4%), from €98,374 to €86,180
of which Other tangible fixed assets: -€13,650
- Trade debts +€44,302
up €44,302 (+650.4%), from €6,812 to €51,114
- Tax, wage and social debts +€30,203
up €30,203 (+176.0%), from €17,163 to €47,366
- Reserves +€26,600
up €26,600 (+73.9%), from €35,985 to €62,585
of which Distributable reserves: +€26,600
- Other debts -€9,028
down €9,028 (-14.3%), from €62,964 to €53,937
- Depreciation -€26,565
down €26,565 (-37.4%), from €71,061 to €44,496
- Taxes +€12,497
up €12,497 (+161.8%), from €7,726 to €20,222
- Financial income +€3,917
up €3,917 (+180.9%), from €2,165 to €6,081
- Gross operating margin -€3,757
down €3,757 (-3.5%), from €108,307 to €104,550
- Financial charges -€2,750
down €2,750 (-13.7%), from €20,035 to €17,285
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 | €583,110 | €673,197 | +€90,086 | +15.4% |
| Fixed assets | 21/28 | €127,483 | €90,969 | -€36,514 | -28.6% |
| Intangible fixed assets | 21 | €19,279 | €0 | -€19,279 | -100.0% |
| Tangible fixed assets | 22/27 | €98,374 | €86,180 | -€12,194 | -12.4% |
| Plant, machinery and equipment | 23 | €8,932 | €3,024 | -€5,907 | -66.1% |
| Furniture and vehicles | 24 | €12,110 | €19,473 | +€7,363 | +60.8% |
| Other tangible fixed assets | 26 | €77,332 | €63,682 | -€13,650 | -17.7% |
| Financial fixed assets | 28 | €9,830 | €4,789 | -€5,041 | -51.3% |
| Current assets | 29/58 | €455,628 | €582,228 | +€126,600 | +27.8% |
| Stocks and contracts in progress | 3 | €323,511 | €310,522 | -€12,989 | -4.0% |
| Stocks | 30/36 | €323,511 | €310,522 | -€12,989 | -4.0% |
| Amounts receivable within one year | 40/41 | €119,064 | €214,336 | +€95,272 | +80.0% |
| Trade receivables | 40 | €28,019 | €58,648 | +€30,628 | +109.3% |
| Other amounts receivable | 41 | €91,045 | €155,689 | +€64,644 | +71.0% |
| Cash at bank and in hand | 54/58 | €11,257 | €53,405 | +€42,148 | +374.4% |
| Deferred charges and accrued income | 490/1 | €1,795 | €3,965 | +€2,169 | +120.8% |
| Total equity and liabilities | 10/49 | €583,110 | €673,197 | +€90,086 | +15.4% |
| Equity | 10/15 | €349,959 | €376,576 | +€26,617 | +7.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €35,985 | €62,585 | +€26,600 | +73.9% |
| Tax-exempt reserves | 132 | €485 | €485 | = | 0.0% |
| Distributable reserves | 133 | €35,500 | €62,100 | +€26,600 | +74.9% |
| Profit (loss) carried forward | 14 | €293,973 | €293,991 | +€17 | 0.0% |
| Amounts payable | 17/49 | €233,152 | €296,621 | +€63,469 | +27.2% |
| Amounts payable after more than one year | 17 | €130,629 | €126,127 | -€4,502 | -3.4% |
| Financial debts | 170/4 | €130,629 | €126,127 | -€4,502 | -3.4% |
| Amounts payable within one year | 42/48 | €102,523 | €170,494 | +€67,971 | +66.3% |
| Current portion of amounts payable after more than one year | 42 | €15,584 | €18,077 | +€2,493 | +16.0% |
| Trade debts | 44 | €6,812 | €51,114 | +€44,302 | +650.4% |
| Suppliers | 440/4 | €6,812 | €51,114 | +€44,302 | +650.4% |
| Taxes, remuneration and social security | 45 | €17,163 | €47,366 | +€30,203 | +176.0% |
| Taxes | 450/3 | €17,163 | €47,366 | +€30,203 | +176.0% |
| Other amounts payable | 47/48 | €62,964 | €53,937 | -€9,028 | -14.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,061 | €44,496 | -€26,565 | -37.4% |
| Other operating charges | 640/8 | €4,078 | €2,011 | -€2,067 | -50.7% |
| Gross operating margin | 9900 | €108,307 | €104,550 | -€3,757 | -3.5% |
| Operating profit (loss) | 9901 | €33,169 | €58,044 | +€24,875 | +75.0% |
| Financial income | 75/76B | €2,165 | €6,081 | +€3,917 | +180.9% |
| Recurring financial income | 75 | €2,165 | €6,081 | +€3,917 | +180.9% |
| Financial charges | 65/66B | €20,035 | €17,285 | -€2,750 | -13.7% |
| Recurring financial charges | 65 | €20,035 | €17,285 | -€2,750 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €15,298 | €46,840 | +€31,542 | +206.2% |
| Income taxes | 67/77 | €7,726 | €20,222 | +€12,497 | +161.8% |
| Profit (loss) for the period | 9904 | €7,573 | €26,617 | +€19,045 | +251.5% |
| Profit (loss) for the period to be appropriated | 9905 | €7,573 | €26,617 | +€19,045 | +251.5% |
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 8 October 2026 via checked.be.