TAMORCO: 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.
What changed
TAMORCO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1,674
2024 · €120,955-€122,629
Equity
€28.7m
2024 · €28.7m-€1,674
Cash
-
not filed
Balance sheet total
€28.8m
2024 · €28.8m-€10,731
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€142,378
down €142,378 (-57.3%), from €248,691 to €106,312
- Taxes -€52,960
down €52,960 (-67.0%), from €79,063 to €26,102
of which Taxes: -€52,960
- Services and other goods +€40,623
up €40,623 (+22.9%), from €177,597 to €218,221
- Other operating charges -€7,290
down €7,290 (-58.0%), from €12,559 to €5,269
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.
Result 2024
€120,955
Other operating income
+€29
Services and other goods
-€40,623
Other operating charges
+€7,290
Financial income
-€142,378
Financial charges
+€94
Taxes
+€52,960
Result 2025
-€1,674
raises the resultlowers the result
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €28,842,707 | €28,831,977 | -€10,731 | 0.0% |
| Fixed assets | 21/28 | €20,627,748 | €20,707,748 | +€80,000 | +0.4% |
| Financial fixed assets | 28 | €20,627,748 | €20,707,748 | +€80,000 | +0.4% |
| Affiliated companies | 280/1 | €20,627,748 | €20,707,748 | +€80,000 | +0.4% |
| Participating interests | 280 | €15,910,248 | €15,910,248 | = | 0.0% |
| Amounts receivable | 281 | €4,717,500 | €4,797,500 | +€80,000 | +1.7% |
| Current assets | 29/58 | €8,214,960 | €8,124,229 | -€90,731 | -1.1% |
| Stocks and contracts in progress | 3 | €886,524 | €886,524 | = | 0.0% |
| Stocks | 30/36 | €886,524 | €886,524 | = | 0.0% |
| Property held for sale | 35 | €886,524 | €886,524 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,705,780 | €5,619,900 | -€85,880 | -1.5% |
| Trade receivables | 40 | €63,525 | €32,670 | -€30,855 | -48.6% |
| Other amounts receivable | 41 | €5,642,255 | €5,587,230 | -€55,025 | -1.0% |
| Current investments | 50/53 | €52,080 | €52,080 | = | 0.0% |
| Other investments | 51/53 | €52,080 | €52,080 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €1,570,576 | €1,565,725 | -€4,851 | -0.3% |
| Total equity and liabilities | 10/49 | €28,842,707 | €28,831,977 | -€10,731 | 0.0% |
| Equity | 10/15 | €28,735,838 | €28,734,164 | -€1,674 | 0.0% |
| Contributions | 10/11 | €3,500,000 | €3,500,000 | = | 0.0% |
| Capital | 10 | €3,500,000 | €3,500,000 | = | 0.0% |
| Issued capital | 100 | €3,500,000 | €3,500,000 | = | 0.0% |
| Reserves | 13 | €25,235,838 | €25,234,164 | -€1,674 | 0.0% |
| Non-distributable reserves | 130/1 | €350,000 | €350,000 | = | 0.0% |
| Legal reserve | 130 | €350,000 | €350,000 | = | 0.0% |
| Distributable reserves | 133 | €24,885,838 | €24,884,164 | -€1,674 | 0.0% |
| Amounts payable | 17/49 | €106,870 | €97,813 | -€9,057 | -8.5% |
| Amounts payable within one year | 42/48 | €97,747 | €88,686 | -€9,062 | -9.3% |
| Trade debts | 44 | €57,126 | €82,166 | +€25,040 | +43.8% |
| Suppliers | 440/4 | €57,126 | €82,166 | +€25,040 | +43.8% |
| Taxes, remuneration and social security | 45 | €40,621 | €6,519 | -€34,102 | -84.0% |
| Taxes | 450/3 | €40,621 | €6,519 | -€34,102 | -84.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €9,122 | €9,128 | +€5 | +0.1% |
| Operating income | 70/76A | €141,806 | €141,835 | +€29 | 0.0% |
| Turnover | 70 | €126,000 | €126,000 | = | 0.0% |
| Other operating income | 74 | €15,806 | €15,835 | +€29 | +0.2% |
| Operating charges | 60/66A | €190,156 | €223,490 | +€33,334 | +17.5% |
| Services and other goods | 61 | €177,597 | €218,221 | +€40,623 | +22.9% |
| Other operating charges | 640/8 | €12,559 | €5,269 | -€7,290 | -58.0% |
| Operating profit (loss) | 9901 | -€48,351 | -€81,655 | -€33,305 | -68.9% |
| Financial income | 75/76B | €248,691 | €106,312 | -€142,378 | -57.3% |
| Recurring financial income | 75 | €248,691 | €106,312 | -€142,378 | -57.3% |
| Income from financial fixed assets | 750 | €186,563 | €106,312 | -€80,250 | -43.0% |
| Income from current assets | 751 | €62,128 | €0 | -€62,128 | -100% |
| Financial charges | 65/66B | €322 | €229 | -€94 | -29.0% |
| Recurring financial charges | 65 | €322 | €229 | -€94 | -29.0% |
| Debt charges | 650 | €0 | - | = | |
| Other financial charges | 652/9 | €322 | €229 | -€94 | -29.0% |
| Profit (loss) for the period before taxes | 9903 | €200,018 | €24,428 | -€175,589 | -87.8% |
| Income taxes | 67/77 | €79,063 | €26,102 | -€52,960 | -67.0% |
| Taxes | 670/3 | €79,063 | €26,102 | -€52,960 | -67.0% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €120,955 | -€1,674 | -€122,629 | |
| Profit (loss) for the period to be appropriated | 9905 | €120,955 | -€1,674 | -€122,629 |
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 19 October 2026 via checked.be.