TAHOE: 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.
TAHOE
Largest movements
- Tangible fixed assets -€196,321
down €196,321 (-3.4%), from €5.8m to €5.6m
- Cash -€160,463
down €160,463 (-85.4%), from €187,792 to €27,329
mainly Net result for the year (-€199,367) and Other debts (-€116,887)
- Profit (loss) carried forward -€199,367
down €199,367 (-184.6%), from -€108,025 to -€307,391
- Other debts -€116,887
down €116,887 (-43.3%), from €270,237 to €153,351
- Depreciation +€107,304
up €107,304 (+120.5%), from €89,017 to €196,321
- Other operating charges -€21,085
down €21,085 (-88.2%), from €23,910 to €2,825
- Gross operating margin -€3,011
down €3,011, from €2,458 to -€553
- Financial income -€2,144
down €2,144 (-85.0%), from €2,522 to €378
- Financial charges -€31
down €31 (-40.4%), from €78 to €46
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 | €6,546,782 | €6,224,989 | -€321,794 | -4.9% |
| Fixed assets | 21/28 | €5,842,070 | €5,645,749 | -€196,321 | -3.4% |
| Tangible fixed assets | 22/27 | €5,841,740 | €5,645,419 | -€196,321 | -3.4% |
| Land and buildings | 22 | €5,841,740 | €5,645,419 | -€196,321 | -3.4% |
| Financial fixed assets | 28 | €330 | €330 | = | 0.0% |
| Current assets | 29/58 | €704,712 | €579,239 | -€125,473 | -17.8% |
| Amounts receivable within one year | 40/41 | €546 | - | -€546 | |
| Other amounts receivable | 41 | €546 | - | -€546 | |
| Current investments | 50/53 | €512,064 | €512,064 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €187,792 | €27,329 | -€160,463 | -85.4% |
| Deferred charges and accrued income | 490/1 | €4,310 | €39,846 | +€35,536 | +824.5% |
| Total equity and liabilities | 10/49 | €6,546,782 | €6,224,989 | -€321,794 | -4.9% |
| Equity | 10/15 | €4,995,492 | €4,796,126 | -€199,367 | -4.0% |
| Contributions | 10/11 | €5,051,000 | €5,051,000 | = | 0.0% |
| Reserves | 13 | €52,517 | €52,517 | = | 0.0% |
| Distributable reserves | 133 | €52,517 | €52,517 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,025 | -€307,391 | -€199,367 | -184.6% |
| Amounts payable | 17/49 | €1,551,290 | €1,428,863 | -€122,427 | -7.9% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 170/4 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €276,505 | €154,078 | -€122,427 | -44.3% |
| Trade debts | 44 | €6,267 | €727 | -€5,540 | -88.4% |
| Suppliers | 440/4 | €6,267 | €727 | -€5,540 | -88.4% |
| Other amounts payable | 47/48 | €270,237 | €153,351 | -€116,887 | -43.3% |
| Accrued charges and deferred income | 492/3 | €274,785 | €274,785 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,017 | €196,321 | +€107,304 | +120.5% |
| Other operating charges | 640/8 | €23,910 | €2,825 | -€21,085 | -88.2% |
| Gross operating margin | 9900 | €2,458 | -€553 | -€3,011 | |
| Operating profit (loss) | 9901 | -€110,469 | -€199,698 | -€89,230 | -80.8% |
| Financial income | 75/76B | €2,522 | €378 | -€2,144 | -85.0% |
| Recurring financial income | 75 | €2,522 | €378 | -€2,144 | -85.0% |
| Financial charges | 65/66B | €78 | €46 | -€31 | -40.4% |
| Recurring financial charges | 65 | €78 | €46 | -€31 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | -€108,025 | -€199,367 | -€91,342 | -84.6% |
| Profit (loss) for the period | 9904 | -€108,025 | -€199,367 | -€91,342 | -84.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€108,025 | -€199,367 | -€91,342 | -84.6% |
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.