TAILFERHYDRO: 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.
TAILFERHYDRO
Largest movements
- Cash -€782,316
down €782,316 (-100.0%), from €782,465 to €149
mainly Debts after one year (-€3.9m) and Current portion of long-term debt (-€598,318)
- Tangible fixed assets -€636,056
down €636,056 (-6.3%), from €10.1m to €9.5m
- Current investments -€403,645
no longer reported in 2025 (was €403,645)
- Receivables within one year +€270,829
up €270,829 (+26.4%), from €1.0m to €1.3m
of which Trade receivables: +€270,879
- Debts after one year -€3.9m
down €3.9m (-85.9%), from €4.6m to €642,604
of which Other amounts payable: -€2.4m
- Other debts +€2.4m
up €2.4m (+1256340.4%), from €191 to €2.4m
- Profit (loss) carried forward +€814,252
up €814,252 (+19.4%), from €4.2m to €5.0m
- Current portion of long-term debt -€598,318
down €598,318 (-83.6%), from €716,091 to €117,773
- Gross operating margin +€435,398
up €435,398 (+35.6%), from €1.2m to €1.7m
- Taxes +€123,527
up €123,527 (+111.3%), from €110,977 to €234,504
- Financial charges -€104,995
down €104,995 (-48.6%), from €215,983 to €110,988
- Financial income -€73,252
down €73,252 (-33.5%), from €218,754 to €145,501
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 | €12,324,678 | €10,782,721 | -€1.5m | -12.5% |
| Fixed assets | 21/28 | €10,089,178 | €9,453,122 | -€636,056 | -6.3% |
| Tangible fixed assets | 22/27 | €10,089,178 | €9,453,122 | -€636,056 | -6.3% |
| Plant, machinery and equipment | 23 | €10,089,178 | €9,453,122 | -€636,056 | -6.3% |
| Current assets | 29/58 | €2,235,500 | €1,329,600 | -€905,901 | -40.5% |
| Amounts receivable within one year | 40/41 | €1,025,707 | €1,296,536 | +€270,829 | +26.4% |
| Trade receivables | 40 | €821,458 | €1,092,337 | +€270,879 | +33.0% |
| Other amounts receivable | 41 | €204,249 | €204,199 | -€50 | 0.0% |
| Current investments | 50/53 | €403,645 | - | -€403,645 | |
| Cash at bank and in hand | 54/58 | €782,465 | €149 | -€782,316 | -100.0% |
| Deferred charges and accrued income | 490/1 | €23,683 | €32,914 | +€9,231 | +39.0% |
| Total equity and liabilities | 10/49 | €12,324,678 | €10,782,721 | -€1.5m | -12.5% |
| Equity | 10/15 | €6,574,321 | €7,277,832 | +€703,512 | +10.7% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €60,000 | €60,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,000 | €60,000 | = | 0.0% |
| Legal reserve | 130 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,190,432 | €5,004,684 | +€814,252 | +19.4% |
| Investment grants | 15 | €1,723,888 | €1,613,148 | -€110,740 | -6.4% |
| Amounts payable | 17/49 | €5,750,357 | €3,504,889 | -€2.2m | -39.0% |
| Amounts payable after more than one year | 17 | €4,554,559 | €642,604 | -€3.9m | -85.9% |
| Financial debts | 170/4 | €2,160,393 | €642,604 | -€1.5m | -70.3% |
| Other amounts payable | 178/9 | €2,394,167 | - | -€2.4m | |
| Amounts payable within one year | 42/48 | €1,193,526 | €2,850,962 | +€1.7m | +138.9% |
| Current portion of amounts payable after more than one year | 42 | €716,091 | €117,773 | -€598,318 | -83.6% |
| Trade debts | 44 | €391,543 | €282,344 | -€109,198 | -27.9% |
| Suppliers | 440/4 | €391,543 | €282,344 | -€109,198 | -27.9% |
| Taxes, remuneration and social security | 45 | €85,701 | €48,782 | -€36,919 | -43.1% |
| Taxes | 450/3 | €85,701 | €48,782 | -€36,919 | -43.1% |
| Other amounts payable | 47/48 | €191 | €2,402,063 | +€2.4m | +1256340.4% |
| Accrued charges and deferred income | 492/3 | €2,272 | €11,324 | +€9,052 | +398.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €636,056 | €636,056 | = | 0.0% |
| Other operating charges | 640/8 | €9,147 | €9,198 | +€51 | +0.6% |
| Gross operating margin | 9900 | €1,224,099 | €1,659,496 | +€435,398 | +35.6% |
| Operating profit (loss) | 9901 | €578,896 | €1,014,242 | +€435,346 | +75.2% |
| Financial income | 75/76B | €218,754 | €145,501 | -€73,252 | -33.5% |
| Recurring financial income | 75 | €218,754 | €145,501 | -€73,252 | -33.5% |
| Financial charges | 65/66B | €215,983 | €110,988 | -€104,995 | -48.6% |
| Recurring financial charges | 65 | €215,983 | €110,988 | -€104,995 | -48.6% |
| Profit (loss) for the period before taxes | 9903 | €581,666 | €1,048,755 | +€467,089 | +80.3% |
| Income taxes | 67/77 | €110,977 | €234,504 | +€123,527 | +111.3% |
| Profit (loss) for the period | 9904 | €470,689 | €814,252 | +€343,563 | +73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €470,689 | €814,252 | +€343,563 | +73.0% |
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.