TALCO: 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.
TALCO
Largest movements
- Cash +€84,617
up €84,617 (+15.1%), from €560,295 to €644,912
mainly Net result for the year (+€85,070) and Depreciation (+€19,743)
- Reserves +€85,070
up €85,070 (+10.9%), from €781,602 to €866,672
of which Distributable reserves: +€87,658
- Gross operating margin +€10,765
up €10,765 (+8.6%), from €125,741 to €136,506
- Depreciation -€3,264
down €3,264 (-14.2%), from €23,007 to €19,743
- Taxes +€3,129
up €3,129 (+9.1%), from €34,369 to €37,499
- Financial income -€2,988
down €2,988 (-25.2%), from €11,875 to €8,888
- Financial charges +€1,992
up €1,992 (+1099.5%), from €181 to €2,173
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 | €845,403 | €931,900 | +€86,497 | +10.2% |
| Fixed assets | 21/28 | €266,273 | €269,926 | +€3,653 | +1.4% |
| Tangible fixed assets | 22/27 | €266,273 | €269,926 | +€3,653 | +1.4% |
| Land and buildings | 22 | €258,898 | €267,841 | +€8,943 | +3.5% |
| Plant, machinery and equipment | 23 | €1,710 | €1,148 | -€561 | -32.8% |
| Furniture and vehicles | 24 | €5,666 | €936 | -€4,729 | -83.5% |
| Current assets | 29/58 | €579,130 | €661,974 | +€82,844 | +14.3% |
| Amounts receivable within one year | 40/41 | €18,427 | €16,491 | -€1,936 | -10.5% |
| Trade receivables | 40 | €17,347 | €16,262 | -€1,084 | -6.3% |
| Other amounts receivable | 41 | €1,081 | €229 | -€852 | -78.8% |
| Cash at bank and in hand | 54/58 | €560,295 | €644,912 | +€84,617 | +15.1% |
| Deferred charges and accrued income | 490/1 | €408 | €571 | +€163 | +40.0% |
| Total equity and liabilities | 10/49 | €845,403 | €931,900 | +€86,497 | +10.2% |
| Equity | 10/15 | €802,319 | €887,389 | +€85,070 | +10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €781,602 | €866,672 | +€85,070 | +10.9% |
| Tax-exempt reserves | 132 | €41,434 | €38,846 | -€2,588 | -6.2% |
| Distributable reserves | 133 | €740,168 | €827,825 | +€87,658 | +11.8% |
| Profit (loss) carried forward | 14 | €2,118 | €2,118 | = | 0.0% |
| Provisions and deferred taxes | 16 | €12,953 | €12,090 | -€863 | -6.7% |
| Deferred taxes | 168 | €12,953 | €12,090 | -€863 | -6.7% |
| Amounts payable | 17/49 | €30,131 | €32,421 | +€2,290 | +7.6% |
| Amounts payable within one year | 42/48 | €29,213 | €31,503 | +€2,290 | +7.8% |
| Trade debts | 44 | €1,293 | €442 | -€851 | -65.8% |
| Suppliers | 440/4 | €1,293 | €442 | -€851 | -65.8% |
| Taxes, remuneration and social security | 45 | €25,531 | €22,138 | -€3,394 | -13.3% |
| Taxes | 450/3 | €25,531 | €22,138 | -€3,394 | -13.3% |
| Other amounts payable | 47/48 | €2,388 | €8,923 | +€6,534 | +273.6% |
| Accrued charges and deferred income | 492/3 | €919 | €919 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,007 | €19,743 | -€3,264 | -14.2% |
| Other operating charges | 640/8 | €917 | €1,771 | +€854 | +93.1% |
| Gross operating margin | 9900 | €125,741 | €136,506 | +€10,765 | +8.6% |
| Operating profit (loss) | 9901 | €101,817 | €114,991 | +€13,175 | +12.9% |
| Financial income | 75/76B | €11,875 | €8,888 | -€2,988 | -25.2% |
| Recurring financial income | 75 | €11,875 | €8,888 | -€2,988 | -25.2% |
| Financial charges | 65/66B | €181 | €2,173 | +€1,992 | +1099.5% |
| Recurring financial charges | 65 | €181 | €2,173 | +€1,992 | +1099.5% |
| Profit (loss) for the period before taxes | 9903 | €113,511 | €121,706 | +€8,195 | +7.2% |
| Transfer from deferred taxes | 780 | €924 | €863 | -€62 | -6.7% |
| Income taxes | 67/77 | €34,369 | €37,499 | +€3,129 | +9.1% |
| Profit (loss) for the period | 9904 | €80,066 | €85,070 | +€5,004 | +6.2% |
| Transfer from tax-exempt reserves | 789 | €2,773 | €2,588 | -€185 | -6.7% |
| Profit (loss) for the period to be appropriated | 9905 | €82,839 | €87,658 | +€4,819 | +5.8% |
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 11 October 2026 via checked.be.