TAMAREC: 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.
TAMAREC
Largest movements
- Tangible fixed assets -€139,207
down €139,207 (-15.1%), from €919,857 to €780,650
of which Plant, machinery and equipment: -€169,864
- Receivables within one year +€68,493
up €68,493 (+21.8%), from €314,118 to €382,611
of which Trade receivables: +€74,742
- Tax, wage and social debts -€60,280
down €60,280 (-49.1%), from €122,831 to €62,551
of which Taxes: -€63,889
- Trade debts -€21,346
down €21,346 (-37.2%), from €57,415 to €36,069
- Debts after one year +€14,707
up €14,707 (+3.0%), from €493,641 to €508,348
- Gross operating margin -€111,904
down €111,904 (-24.3%), from €461,005 to €349,101
- Taxes -€47,681
down €47,681 (-98.9%), from €48,229 to €548
- Depreciation +€31,742
up €31,742 (+12.5%), from €253,381 to €285,123
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,362,455 | €1,305,099 | -€57,356 | -4.2% |
| Fixed assets | 21/28 | €919,857 | €780,650 | -€139,207 | -15.1% |
| Tangible fixed assets | 22/27 | €919,857 | €780,650 | -€139,207 | -15.1% |
| Plant, machinery and equipment | 23 | €587,818 | €417,954 | -€169,864 | -28.9% |
| Furniture and vehicles | 24 | €106,364 | €113,436 | +€7,072 | +6.6% |
| Leasing and similar rights | 25 | €62,666 | €30,986 | -€31,680 | -50.6% |
| Other tangible fixed assets | 26 | €163,009 | €218,274 | +€55,265 | +33.9% |
| Current assets | 29/58 | €442,598 | €524,449 | +€81,851 | +18.5% |
| Amounts receivable within one year | 40/41 | €314,118 | €382,611 | +€68,493 | +21.8% |
| Trade receivables | 40 | €106,759 | €181,501 | +€74,742 | +70.0% |
| Other amounts receivable | 41 | €207,359 | €201,110 | -€6,249 | -3.0% |
| Cash at bank and in hand | 54/58 | €128,480 | €141,838 | +€13,358 | +10.4% |
| Total equity and liabilities | 10/49 | €1,362,455 | €1,305,099 | -€57,356 | -4.2% |
| Equity | 10/15 | €560,185 | €563,072 | +€2,887 | +0.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €540,185 | €543,072 | +€2,887 | +0.5% |
| Distributable reserves | 133 | €540,185 | €543,072 | +€2,887 | +0.5% |
| Amounts payable | 17/49 | €802,270 | €742,027 | -€60,243 | -7.5% |
| Amounts payable after more than one year | 17 | €493,641 | €508,348 | +€14,707 | +3.0% |
| Financial debts | 170/4 | €493,641 | €508,348 | +€14,707 | +3.0% |
| Amounts payable within one year | 42/48 | €308,629 | €233,679 | -€74,950 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €101,884 | €111,927 | +€10,043 | +9.9% |
| Trade debts | 44 | €57,415 | €36,069 | -€21,346 | -37.2% |
| Suppliers | 440/4 | €57,415 | €36,069 | -€21,346 | -37.2% |
| Taxes, remuneration and social security | 45 | €122,831 | €62,551 | -€60,280 | -49.1% |
| Taxes | 450/3 | €122,289 | €58,400 | -€63,889 | -52.2% |
| Remuneration and social security | 454/9 | €542 | €4,151 | +€3,609 | +666% |
| Other amounts payable | 47/48 | €26,499 | €23,132 | -€3,367 | -12.7% |
| Remuneration, social security and pensions | 62 | €42,632 | €38,287 | -€4,345 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253,381 | €285,123 | +€31,742 | +12.5% |
| Other operating charges | 640/8 | €307 | €2,643 | +€2,336 | +761% |
| Gross operating margin | 9900 | €461,005 | €349,101 | -€111,904 | -24.3% |
| Operating profit (loss) | 9901 | €164,685 | €23,048 | -€141,637 | -86.0% |
| Financial income | 75/76B | €4,851 | €2,792 | -€2,059 | -42.4% |
| Recurring financial income | 75 | €4,851 | €2,792 | -€2,059 | -42.4% |
| Financial charges | 65/66B | €23,065 | €22,405 | -€660 | -2.9% |
| Recurring financial charges | 65 | €23,065 | €22,405 | -€660 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €146,471 | €3,435 | -€143,036 | -97.7% |
| Income taxes | 67/77 | €48,229 | €548 | -€47,681 | -98.9% |
| Profit (loss) for the period | 9904 | €98,242 | €2,887 | -€95,355 | -97.1% |
| Profit (loss) for the period to be appropriated | 9905 | €98,242 | €2,887 | -€95,355 | -97.1% |
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 24 October 2026 via checked.be.