TAMCO: 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.
TAMCO
Largest movements
- Receivables within one year -€235,591
down €235,591 (-30.0%), from €784,389 to €548,798
of which Trade receivables: -€133,763
- Cash +€83,820
up €83,820 (+102%), from €82,240 to €166,060
- Tangible fixed assets +€18,504
up €18,504 (+9.3%), from €198,168 to €216,671
of which Land and buildings: +€15,602
- Debts after one year -€209,800
down €209,800 (-77.9%), from €269,300 to €59,500
- Trade debts +€86,581
up €86,581 (+84.8%), from €102,099 to €188,681
- Tax, wage and social debts -€13,744
down €13,744 (-14.6%), from €94,414 to €80,670
of which Taxes: -€21,728
- Other debts -€11,487
down €11,487 (-61.9%), from €18,548 to €7,061
- Staff costs +€126,337
up €126,337 (+23.7%), from €533,355 to €659,692
- Gross operating margin +€73,017
up €73,017 (+10.8%), from €677,372 to €750,389
- Taxes -€12,278
down €12,278 (-79.1%), from €15,521 to €3,243
- Depreciation -€12,055
down €12,055 (-16.0%), from €75,165 to €63,110
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,112,242 | €979,034 | -€133,208 | -12.0% |
| Fixed assets | 21/28 | €205,047 | €222,127 | +€17,080 | +8.3% |
| Intangible fixed assets | 21 | €6,879 | €5,456 | -€1,424 | -20.7% |
| Tangible fixed assets | 22/27 | €198,168 | €216,671 | +€18,504 | +9.3% |
| Land and buildings | 22 | €123,358 | €138,960 | +€15,602 | +12.6% |
| Plant, machinery and equipment | 23 | €43,302 | €46,457 | +€3,155 | +7.3% |
| Furniture and vehicles | 24 | €31,508 | €31,255 | -€253 | -0.8% |
| Current assets | 29/58 | €907,195 | €756,907 | -€150,287 | -16.6% |
| Stocks and contracts in progress | 3 | €29,920 | €29,920 | = | 0.0% |
| Stocks | 30/36 | €29,920 | €29,920 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €784,389 | €548,798 | -€235,591 | -30.0% |
| Trade receivables | 40 | €631,086 | €497,323 | -€133,763 | -21.2% |
| Other amounts receivable | 41 | €153,303 | €51,475 | -€101,827 | -66.4% |
| Cash at bank and in hand | 54/58 | €82,240 | €166,060 | +€83,820 | +102% |
| Deferred charges and accrued income | 490/1 | €10,646 | €12,129 | +€1,483 | +13.9% |
| Total equity and liabilities | 10/49 | €1,112,242 | €979,034 | -€133,208 | -12.0% |
| Equity | 10/15 | €614,036 | €620,135 | +€6,100 | +1.0% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €490,457 | €497,474 | +€7,017 | +1.4% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €478,457 | €485,474 | +€7,017 | +1.5% |
| Investment grants | 15 | €3,579 | €2,662 | -€917 | -25.6% |
| Amounts payable | 17/49 | €498,206 | €358,899 | -€139,307 | -28.0% |
| Amounts payable after more than one year | 17 | €269,300 | €59,500 | -€209,800 | -77.9% |
| Financial debts | 170/4 | €269,300 | €59,500 | -€209,800 | -77.9% |
| Amounts payable within one year | 42/48 | €215,061 | €276,647 | +€61,586 | +28.6% |
| Financial debts | 43 | €0 | €236 | +€236 | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | - | €236 | +€236 | |
| Trade debts | 44 | €102,099 | €188,681 | +€86,581 | +84.8% |
| Suppliers | 440/4 | €102,099 | €188,681 | +€86,581 | +84.8% |
| Taxes, remuneration and social security | 45 | €94,414 | €80,670 | -€13,744 | -14.6% |
| Taxes | 450/3 | €26,571 | €4,843 | -€21,728 | -81.8% |
| Remuneration and social security | 454/9 | €67,842 | €75,826 | +€7,984 | +11.8% |
| Other amounts payable | 47/48 | €18,548 | €7,061 | -€11,487 | -61.9% |
| Accrued charges and deferred income | 492/3 | €13,845 | €22,752 | +€8,907 | +64.3% |
| Remuneration, social security and pensions | 62 | €533,355 | €659,692 | +€126,337 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,165 | €63,110 | -€12,055 | -16.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,792 | +€3,792 | |
| Other operating charges | 640/8 | €4,341 | €4,613 | +€272 | +6.3% |
| Gross operating margin | 9900 | €677,372 | €750,389 | +€73,017 | +10.8% |
| Operating profit (loss) | 9901 | €64,511 | €19,182 | -€45,329 | -70.3% |
| Financial income | 75/76B | €4,400 | €1,387 | -€3,013 | -68.5% |
| Recurring financial income | 75 | €4,400 | €1,387 | -€3,013 | -68.5% |
| Financial charges | 65/66B | €17,241 | €10,310 | -€6,932 | -40.2% |
| Recurring financial charges | 65 | €17,241 | €10,310 | -€6,932 | -40.2% |
| Profit (loss) for the period before taxes | 9903 | €51,670 | €10,260 | -€41,411 | -80.1% |
| Income taxes | 67/77 | €15,521 | €3,243 | -€12,278 | -79.1% |
| Profit (loss) for the period | 9904 | €36,149 | €7,017 | -€29,133 | -80.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,149 | €7,017 | -€29,133 | -80.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.