TALBEAU: 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.
What changed
TALBEAU
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€560,824
2024 · €220,549+€340,274
Equity
€3.5m
2024 · €2.9m+€560,824
Cash
€298,815
2024 · €110,002+€188,813
Balance sheet total
€6.9m
2024 · €6.7m+€156,133
Largest movements
Assets
- Cash +€188,813
up €188,813 (+172%), from €110,002 to €298,815
mainly Net result for the year (+€560,824) and Accrued charges and deferred income (+€112,264)
- Financial fixed assets -€90,285
down €90,285 (-3.9%), from €2.3m to €2.2m
Equity and liabilities
- Reserves +€560,824
up €560,824 (+26.8%), from €2.1m to €2.7m
of which Distributable reserves: +€560,824
- Debts after one year -€382,237
down €382,237 (-100%), from €382,237 to €0
- Tax, wage and social debts -€116,003
down €116,003 (-99.8%), from €116,274 to €271
- Accrued charges and deferred income +€112,264
up €112,264 (+320%), from €35,035 to €147,299
- Short-term financial debts +€107,109
up €107,109 (+7.8%), from €1.4m to €1.5m
of which Credit institutions: +€113,651
Income statement
- Provisions -€295,000
down €295,000 (-100%), from €295,000 to €0
- Taxes +€113,584
up €113,584 (+972%), from €11,687 to €125,271
- Services and other goods +€48,531
up €48,531 (+7.4%), from €659,717 to €708,247
- Turnover +€46,010
up €46,010 (+3.4%), from €1.3m to €1.4m
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.
Result 2024
€220,549
Turnover
+€46,010
Services and other goods
-€48,531
Depreciation
-€58
Provisions
+€295,000
Other operating charges
-€3,877
Other operating items
+€167,672
Financial income
-€13,325
Financial charges
+€10,968
Taxes
-€113,584
Result 2025
€560,824
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€475,279
Investment
+€90,285
Financing
-€376,751
Cash 2024
€110,002
From operations (derived)
+€475,279
Net result for the year
+€560,824
Depreciation
+€22,948
Receivables within one year
-€50,169
Deferred charges and accrued income
-€30,384
Trade debts
+€4,445
Tax, wage and social debts
-€116,003
Other debts
-€28,646
Accrued charges and deferred income
+€112,264
Investment (derived)
+€90,285
Investment in fixed assets (net)
+€90,285
Financing
-€376,751
Debts after one year
-€382,237
Current portion of long-term debt
-€101,623
Short-term financial debts
+€107,109
Cash 2025
€298,815
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,724,610 | €6,880,743 | +€156,133 | +2.3% |
| Fixed assets | 21/28 | €6,022,699 | €5,909,466 | -€113,233 | -1.9% |
| Tangible fixed assets | 22/27 | €3,700,186 | €3,677,238 | -€22,948 | -0.6% |
| Land and buildings | 22 | €3,700,186 | €3,677,238 | -€22,948 | -0.6% |
| Financial fixed assets | 28 | €2,322,513 | €2,232,229 | -€90,285 | -3.9% |
| Affiliated companies | 280/1 | €2,322,513 | €2,232,229 | -€90,285 | -3.9% |
| Participating interests | 280 | €923,819 | €923,819 | = | 0.0% |
| Amounts receivable | 281 | €1,398,694 | €1,308,409 | -€90,285 | -6.5% |
| Current assets | 29/58 | €701,911 | €971,277 | +€269,366 | +38.4% |
| Amounts receivable after more than one year | 29 | €500,000 | €500,000 | = | 0.0% |
| Other amounts receivable | 291 | €500,000 | €500,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €53,474 | €103,642 | +€50,169 | +93.8% |
| Trade receivables | 40 | €53,474 | €103,642 | +€50,169 | +93.8% |
| Cash at bank and in hand | 54/58 | €110,002 | €298,815 | +€188,813 | +172% |
| Deferred charges and accrued income | 490/1 | €38,435 | €68,820 | +€30,384 | +79.1% |
| Total equity and liabilities | 10/49 | €6,724,610 | €6,880,743 | +€156,133 | +2.3% |
| Equity | 10/15 | €2,901,718 | €3,462,542 | +€560,824 | +19.3% |
| Contributions | 10/11 | €812,000 | €812,000 | = | 0.0% |
| Capital | 10 | €812,000 | €812,000 | = | 0.0% |
| Issued capital | 100 | €812,000 | €812,000 | = | 0.0% |
| Reserves | 13 | €2,089,718 | €2,650,542 | +€560,824 | +26.8% |
| Non-distributable reserves | 130/1 | €81,200 | €81,200 | = | 0.0% |
| Legal reserve | 130 | €81,200 | €81,200 | = | 0.0% |
| Distributable reserves | 133 | €2,008,518 | €2,569,342 | +€560,824 | +27.9% |
| Provisions and deferred taxes | 16 | €460,000 | €460,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €460,000 | €460,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €460,000 | €460,000 | = | 0.0% |
| Amounts payable | 17/49 | €3,362,891 | €2,958,201 | -€404,691 | -12.0% |
| Amounts payable after more than one year | 17 | €382,237 | €0 | -€382,237 | -100% |
| Financial debts | 170/4 | €382,237 | €0 | -€382,237 | -100% |
| Credit institutions | 173 | €382,237 | €0 | -€382,237 | -100% |
| Amounts payable within one year | 42/48 | €2,945,620 | €2,810,902 | -€134,718 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €960,729 | €859,106 | -€101,623 | -10.6% |
| Financial debts | 43 | €1,367,891 | €1,475,000 | +€107,109 | +7.8% |
| Credit institutions | 430/8 | €11,349 | €125,000 | +€113,651 | +1,001% |
| Other loans | 439 | €1,356,542 | €1,350,000 | -€6,542 | -0.5% |
| Trade debts | 44 | €13,751 | €18,196 | +€4,445 | +32.3% |
| Suppliers | 440/4 | €13,751 | €18,196 | +€4,445 | +32.3% |
| Taxes, remuneration and social security | 45 | €116,274 | €271 | -€116,003 | -99.8% |
| Taxes | 450/3 | €116,274 | €271 | -€116,003 | -99.8% |
| Other amounts payable | 47/48 | €486,975 | €458,329 | -€28,646 | -5.9% |
| Accrued charges and deferred income | 492/3 | €35,035 | €147,299 | +€112,264 | +320% |
| Operating income | 70/76A | €1,344,455 | €1,423,137 | +€78,682 | +5.9% |
| Turnover | 70 | €1,344,455 | €1,390,465 | +€46,010 | +3.4% |
| Non-recurring operating income | 76A | - | €32,672 | +€32,672 | |
| Operating charges | 60/66A | €1,247,604 | €870,070 | -€377,534 | -30.3% |
| Services and other goods | 61 | €659,717 | €708,247 | +€48,531 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,890 | €22,948 | +€58 | +0.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €295,000 | €0 | -€295,000 | -100% |
| Other operating charges | 640/8 | €134,997 | €138,875 | +€3,877 | +2.9% |
| Non-recurring operating charges | 66A | €135,000 | €0 | -€135,000 | -100% |
| Operating profit (loss) | 9901 | €96,851 | €553,067 | +€456,216 | +471% |
| Financial income | 75/76B | €276,424 | €263,098 | -€13,325 | -4.8% |
| Recurring financial income | 75 | €272,075 | €263,098 | -€8,976 | -3.3% |
| Income from financial fixed assets | 750 | €185,000 | €195,623 | +€10,623 | +5.7% |
| Income from current assets | 751 | €87,061 | €67,475 | -€19,586 | -22.5% |
| Other financial income | 752/9 | €14 | €0 | -€14 | -100% |
| Non-recurring financial income | 76B | €4,349 | €0 | -€4,349 | -100% |
| Financial charges | 65/66B | €141,038 | €130,071 | -€10,968 | -7.8% |
| Recurring financial charges | 65 | €141,038 | €130,071 | -€10,968 | -7.8% |
| Debt charges | 650 | €137,727 | €114,775 | -€22,953 | -16.7% |
| Other financial charges | 652/9 | €3,311 | €15,296 | +€11,985 | +362% |
| Profit (loss) for the period before taxes | 9903 | €232,236 | €686,095 | +€453,858 | +195% |
| Income taxes | 67/77 | €11,687 | €125,271 | +€113,584 | +972% |
| Taxes | 670/3 | €11,687 | €125,271 | +€113,584 | +972% |
| Profit (loss) for the period | 9904 | €220,549 | €560,824 | +€340,274 | +154% |
| Profit (loss) for the period to be appropriated | 9905 | €220,549 | €560,824 | +€340,274 | +154% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.