Talpa Projects: 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.
Talpa Projects
Largest movements
- Tangible fixed assets -€11,405
down €11,405 (-43.0%), from €26,555 to €15,149
- Stocks and contracts +€7,044
up €7,044 (+757.5%), from €930 to €7,974
- Receivables within one year -€2,721
down €2,721 (-94.3%), from €2,886 to €165
of which Trade receivables: -€2,713
- Cash -€1,503
down €1,503 (-6.8%), from €22,008 to €20,504
mainly Debts after one year (-€12,046) and Stocks and contracts (-€7,044)
- Debts after one year -€12,046
down €12,046 (-31.6%), from €38,068 to €26,023
- Reserves +€5,979
up €5,979 (+73.2%), from €8,164 to €14,142
- Current portion of long-term debt -€4,661
down €4,661 (-65.5%), from €7,120 to €2,460
- Tax, wage and social debts +€1,840
new in 2025: €1,840
- Depreciation -€8,754
down €8,754 (-51.6%), from €16,950 to €8,196
- Write-downs +€2,052
up €2,052, from -€1,971 to €81
- Taxes +€1,840
new in 2025: €1,840
- Gross operating margin +€431
up €431 (+2.6%), from €16,679 to €17,111
- Financial charges -€300
down €300 (-23.9%), from €1,254 to €954
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 | €54,552 | €45,669 | -€8,883 | -16.3% |
| Fixed assets | 21/28 | €27,644 | €16,238 | -€11,405 | -41.3% |
| Tangible fixed assets | 22/27 | €26,555 | €15,149 | -€11,405 | -43.0% |
| Furniture and vehicles | 24 | €26,555 | €15,149 | -€11,405 | -43.0% |
| Financial fixed assets | 28 | €1,089 | €1,089 | = | 0.0% |
| Current assets | 29/58 | €26,908 | €29,431 | +€2,522 | +9.4% |
| Stocks and contracts in progress | 3 | €930 | €7,974 | +€7,044 | +757.5% |
| Stocks | 30/36 | €930 | €7,974 | +€7,044 | +757.5% |
| Amounts receivable within one year | 40/41 | €2,886 | €165 | -€2,721 | -94.3% |
| Trade receivables | 40 | €2,713 | - | -€2,713 | |
| Other amounts receivable | 41 | €174 | €165 | -€9 | -4.9% |
| Cash at bank and in hand | 54/58 | €22,008 | €20,504 | -€1,503 | -6.8% |
| Deferred charges and accrued income | 490/1 | €1,084 | €787 | -€297 | -27.4% |
| Total equity and liabilities | 10/49 | €54,552 | €45,669 | -€8,883 | -16.3% |
| Equity | 10/15 | €9,364 | €15,342 | +€5,979 | +63.9% |
| Contributions | 10/11 | €1,200 | €1,200 | = | 0.0% |
| Reserves | 13 | €8,164 | €14,142 | +€5,979 | +73.2% |
| Distributable reserves | 133 | €8,164 | €14,142 | +€5,979 | +73.2% |
| Amounts payable | 17/49 | €45,188 | €30,327 | -€14,862 | -32.9% |
| Amounts payable after more than one year | 17 | €38,068 | €26,023 | -€12,046 | -31.6% |
| Financial debts | 170/4 | €38,068 | €26,023 | -€12,046 | -31.6% |
| Amounts payable within one year | 42/48 | €7,120 | €4,304 | -€2,816 | -39.6% |
| Current portion of amounts payable after more than one year | 42 | €7,120 | €2,460 | -€4,661 | -65.5% |
| Trade debts | 44 | - | €5 | +€5 | |
| Suppliers | 440/4 | - | €5 | +€5 | |
| Taxes, remuneration and social security | 45 | - | €1,840 | +€1,840 | |
| Taxes | 450/3 | - | €1,840 | +€1,840 | |
| Non-recurring operating income | 76A | €620 | €8,046 | +€7,427 | +1198.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,950 | €8,196 | -€8,754 | -51.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,971 | €81 | +€2,052 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Non-recurring operating charges | 66A | €901 | - | -€901 | |
| Gross operating margin | 9900 | €16,679 | €17,111 | +€431 | +2.6% |
| Operating profit (loss) | 9901 | €681 | €8,714 | +€8,033 | +1180.3% |
| Financial income | 75/76B | €0 | €59 | +€59 | +293150.0% |
| Recurring financial income | 75 | €0 | €59 | +€59 | +293150.0% |
| Financial charges | 65/66B | €1,254 | €954 | -€300 | -23.9% |
| Recurring financial charges | 65 | €1,254 | €954 | -€300 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | -€574 | €7,818 | +€8,392 | |
| Income taxes | 67/77 | - | €1,840 | +€1,840 | |
| Profit (loss) for the period | 9904 | -€574 | €5,979 | +€6,553 | |
| Profit (loss) for the period to be appropriated | 9905 | -€574 | €5,979 | +€6,553 |
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 12 October 2026 via checked.be.