TAMDEN: 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.
TAMDEN
Largest movements
- Tangible fixed assets -€66,881
down €66,881 (-4.6%), from €1.5m to €1.4m
of which Land and buildings: -€61,882
- Short-term financial debts +€331,725
up €331,725 (+6,542%), from €5,071 to €336,796
of which Other loans: +€336,796
- Debts after one year -€312,582
down €312,582 (-77.7%), from €402,267 to €89,686
of which Financial debts: -€312,582
- Reserves -€138,382
down €138,382 (-19.4%), from €713,035 to €574,653
- Financial income -€129,022
down €129,022 (-100.0%), from €129,023 to €0
- Gross operating margin +€28,294
up €28,294 (+22.6%), from €125,458 to €153,752
- Financial charges +€6,320
up €6,320 (+15.3%), from €41,429 to €47,749
- Taxes -€6,030
down €6,030 (-33.0%), from €18,260 to €12,230
- Depreciation -€2,018
down €2,018 (-2.9%), from €68,900 to €66,881
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 | €3,859,318 | €3,756,789 | -€102,529 | -2.7% |
| Fixed assets | 21/28 | €3,757,240 | €3,690,359 | -€66,881 | -1.8% |
| Tangible fixed assets | 22/27 | €1,455,755 | €1,388,874 | -€66,881 | -4.6% |
| Land and buildings | 22 | €1,432,985 | €1,371,103 | -€61,882 | -4.3% |
| Plant, machinery and equipment | 23 | €941 | €333 | -€608 | -64.6% |
| Furniture and vehicles | 24 | €21,829 | €17,437 | -€4,391 | -20.1% |
| Financial fixed assets | 28 | €2,301,485 | €2,301,485 | = | 0.0% |
| Current assets | 29/58 | €102,078 | €66,430 | -€35,648 | -34.9% |
| Amounts receivable within one year | 40/41 | €7,500 | €8,770 | +€1,270 | +16.9% |
| Trade receivables | 40 | €7,500 | €6,000 | -€1,500 | -20.0% |
| Other amounts receivable | 41 | - | €2,770 | +€2,770 | |
| Cash at bank and in hand | 54/58 | €89,017 | €50,613 | -€38,403 | -43.1% |
| Deferred charges and accrued income | 490/1 | €5,561 | €7,047 | +€1,485 | +26.7% |
| Total equity and liabilities | 10/49 | €3,859,318 | €3,756,789 | -€102,529 | -2.7% |
| Equity | 10/15 | €2,647,012 | €2,508,630 | -€138,382 | -5.2% |
| Contributions | 10/11 | €1,933,977 | €1,933,977 | = | 0.0% |
| Reserves | 13 | €713,035 | €574,653 | -€138,382 | -19.4% |
| Distributable reserves | 133 | €713,035 | €574,653 | -€138,382 | -19.4% |
| Amounts payable | 17/49 | €1,212,306 | €1,248,159 | +€35,853 | +3.0% |
| Amounts payable after more than one year | 17 | €402,267 | €89,686 | -€312,582 | -77.7% |
| Financial debts | 170/4 | €402,167 | €89,586 | -€312,582 | -77.7% |
| Other amounts payable | 178/9 | €100 | €100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €764,530 | €1,107,064 | +€342,534 | +44.8% |
| Current portion of amounts payable after more than one year | 42 | €45,643 | €49,038 | +€3,396 | +7.4% |
| Financial debts | 43 | €5,071 | €336,796 | +€331,725 | +6,542% |
| Credit institutions | 430/8 | €5,071 | - | -€5,071 | |
| Other loans | 439 | - | €336,796 | +€336,796 | |
| Trade debts | 44 | €12,378 | €15,684 | +€3,306 | +26.7% |
| Suppliers | 440/4 | €12,378 | €15,684 | +€3,306 | +26.7% |
| Advances received on contracts in progress | 46 | €32,500 | €31,000 | -€1,500 | -4.6% |
| Taxes, remuneration and social security | 45 | €7,959 | €4,000 | -€3,959 | -49.7% |
| Taxes | 450/3 | €6,234 | €2,275 | -€3,959 | -63.5% |
| Remuneration and social security | 454/9 | €1,725 | €1,725 | = | 0.0% |
| Other amounts payable | 47/48 | €660,979 | €670,545 | +€9,566 | +1.4% |
| Accrued charges and deferred income | 492/3 | €45,509 | €51,410 | +€5,900 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,900 | €66,881 | -€2,018 | -2.9% |
| Other operating charges | 640/8 | €5,046 | €5,274 | +€229 | +4.5% |
| Gross operating margin | 9900 | €125,458 | €153,752 | +€28,294 | +22.6% |
| Operating profit (loss) | 9901 | €51,513 | €81,597 | +€30,084 | +58.4% |
| Financial income | 75/76B | €129,023 | €0 | -€129,022 | -100.0% |
| Recurring financial income | 75 | €129,023 | €0 | -€129,022 | -100.0% |
| Financial charges | 65/66B | €41,429 | €47,749 | +€6,320 | +15.3% |
| Recurring financial charges | 65 | €41,429 | €47,749 | +€6,320 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €139,106 | €33,848 | -€105,259 | -75.7% |
| Income taxes | 67/77 | €18,260 | €12,230 | -€6,030 | -33.0% |
| Profit (loss) for the period | 9904 | €120,846 | €21,618 | -€99,228 | -82.1% |
| Profit (loss) for the period to be appropriated | 9905 | €120,846 | €21,618 | -€99,228 | -82.1% |
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 18 October 2026 via checked.be.