TAMAY: 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.
TAMAY
Largest movements
- Receivables within one year +€46,961
up €46,961 (+45.1%), from €104,223 to €151,184
of which Other amounts receivable: +€47,276
- Tangible fixed assets -€38,484
down €38,484 (-9.7%), from €395,208 to €356,725
of which Other tangible fixed assets: -€36,991
- Cash -€23,772
down €23,772 (-10.7%), from €221,970 to €198,198
mainly Contributions, distributions and other (-€134,129) and Debts after one year (-€62,199)
- Other debts +€90,131
up €90,131 (+242%), from €37,292 to €127,423
- Debts after one year -€62,199
down €62,199 (-42.0%), from €147,968 to €85,769
- Trade debts -€30,474
down €30,474 (-10.7%), from €285,796 to €255,322
- Reserves -€15,427
down €15,427 (-4.5%), from €340,388 to €324,961
of which Distributable reserves: -€11,707
- Gross operating margin +€70,567
up €70,567 (+11.3%), from €624,476 to €695,043
- Taxes +€15,777
up €15,777 (+48.7%), from €32,377 to €48,154
- Depreciation +€12,776
up €12,776 (+18.8%), from €67,856 to €80,633
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 | €993,358 | €976,639 | -€16,719 | -1.7% |
| Fixed assets | 21/28 | €404,606 | €366,122 | -€38,484 | -9.5% |
| Tangible fixed assets | 22/27 | €395,208 | €356,725 | -€38,484 | -9.7% |
| Plant, machinery and equipment | 23 | €12,929 | €39,828 | +€26,899 | +208% |
| Furniture and vehicles | 24 | €12,955 | €4,289 | -€8,666 | -66.9% |
| Leasing and similar rights | 25 | €67,656 | €47,930 | -€19,726 | -29.2% |
| Other tangible fixed assets | 26 | €301,668 | €264,678 | -€36,991 | -12.3% |
| Financial fixed assets | 28 | €9,398 | €9,398 | = | 0.0% |
| Current assets | 29/58 | €588,751 | €610,517 | +€21,765 | +3.7% |
| Stocks and contracts in progress | 3 | €248,964 | €254,544 | +€5,580 | +2.2% |
| Stocks | 30/36 | €248,964 | €254,544 | +€5,580 | +2.2% |
| Amounts receivable within one year | 40/41 | €104,223 | €151,184 | +€46,961 | +45.1% |
| Trade receivables | 40 | €3,010 | €2,695 | -€315 | -10.5% |
| Other amounts receivable | 41 | €101,213 | €148,489 | +€47,276 | +46.7% |
| Cash at bank and in hand | 54/58 | €221,970 | €198,198 | -€23,772 | -10.7% |
| Deferred charges and accrued income | 490/1 | €13,595 | €6,591 | -€7,004 | -51.5% |
| Total equity and liabilities | 10/49 | €993,358 | €976,639 | -€16,719 | -1.7% |
| Equity | 10/15 | €358,988 | €343,561 | -€15,427 | -4.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €340,388 | €324,961 | -€15,427 | -4.5% |
| Non-distributable reserves | 130/1 | €3,720 | - | -€3,720 | |
| Reserves not available under the articles | 1311 | €3,720 | - | -€3,720 | |
| Distributable reserves | 133 | €336,668 | €324,961 | -€11,707 | -3.5% |
| Amounts payable | 17/49 | €634,370 | €633,078 | -€1,291 | -0.2% |
| Amounts payable after more than one year | 17 | €147,968 | €85,769 | -€62,199 | -42.0% |
| Financial debts | 170/4 | €147,968 | €85,769 | -€62,199 | -42.0% |
| Amounts payable within one year | 42/48 | €480,079 | €539,321 | +€59,242 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €51,169 | €54,556 | +€3,387 | +6.6% |
| Trade debts | 44 | €285,796 | €255,322 | -€30,474 | -10.7% |
| Suppliers | 440/4 | €285,796 | €255,322 | -€30,474 | -10.7% |
| Advances received on contracts in progress | 46 | €1,412 | €1,412 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €104,411 | €100,609 | -€3,802 | -3.6% |
| Taxes | 450/3 | €19,522 | €34,246 | +€14,725 | +75.4% |
| Remuneration and social security | 454/9 | €84,890 | €66,363 | -€18,527 | -21.8% |
| Other amounts payable | 47/48 | €37,292 | €127,423 | +€90,131 | +242% |
| Accrued charges and deferred income | 492/3 | €6,322 | €7,988 | +€1,666 | +26.3% |
| Non-recurring operating income | 76A | €5,826 | - | -€5,826 | |
| Remuneration, social security and pensions | 62 | €420,612 | €425,516 | +€4,904 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,856 | €80,633 | +€12,776 | +18.8% |
| Other operating charges | 640/8 | €13,295 | €14,648 | +€1,352 | +10.2% |
| Gross operating margin | 9900 | €624,476 | €695,043 | +€70,567 | +11.3% |
| Operating profit (loss) | 9901 | €122,712 | €174,247 | +€51,535 | +42.0% |
| Financial income | 75/76B | €6,671 | €6,791 | +€120 | +1.8% |
| Recurring financial income | 75 | €6,671 | €6,791 | +€120 | +1.8% |
| Financial charges | 65/66B | €14,345 | €14,181 | -€164 | -1.1% |
| Recurring financial charges | 65 | €14,345 | €14,181 | -€164 | -1.1% |
| Profit (loss) for the period before taxes | 9903 | €115,038 | €166,856 | +€51,819 | +45.0% |
| Income taxes | 67/77 | €32,377 | €48,154 | +€15,777 | +48.7% |
| Profit (loss) for the period | 9904 | €82,661 | €118,702 | +€36,041 | +43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €82,661 | €118,702 | +€36,041 | +43.6% |
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 13 October 2026 via checked.be.