Tand 41: 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.
Tand 41
Largest movements
- Cash -€64,582
down €64,582 (-18.0%), from €359,660 to €295,079
mainly Contributions, distributions and other (-€251,744) and Investment in fixed assets (net) (-€62,093)
- Receivables after one year -€39,930
no longer reported in 2025 (was €39,930)
- Reserves -€105,529
down €105,529 (-20.7%), from €509,387 to €403,858
- Debts after one year -€55,509
down €55,509 (-13.7%), from €406,508 to €351,000
- Other debts +€48,916
up €48,916 (+86.7%), from €56,397 to €105,313
- Tax, wage and social debts +€12,747
up €12,747 (+162%), from €7,888 to €20,635
of which Taxes: +€6,889
- Gross operating margin +€41,245
up €41,245 (+13.6%), from €303,916 to €345,161
- Staff costs +€16,330
up €16,330 (+49.1%), from €33,229 to €49,560
- Taxes +€6,202
up €6,202 (+11.0%), from €56,323 to €62,526
- Depreciation +€3,611
up €3,611 (+5.4%), from €66,653 to €70,264
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 | €1,102,819 | €991,937 | -€110,882 | -10.1% |
| Fixed assets | 21/28 | €698,113 | €689,942 | -€8,171 | -1.2% |
| Tangible fixed assets | 22/27 | €698,113 | €689,942 | -€8,171 | -1.2% |
| Land and buildings | 22 | €624,854 | €647,734 | +€22,881 | +3.7% |
| Plant, machinery and equipment | 23 | €34,616 | €20,939 | -€13,678 | -39.5% |
| Furniture and vehicles | 24 | €38,643 | €21,269 | -€17,374 | -45.0% |
| Current assets | 29/58 | €404,707 | €301,995 | -€102,711 | -25.4% |
| Amounts receivable after more than one year | 29 | €39,930 | - | -€39,930 | |
| Other amounts receivable | 291 | €39,930 | - | -€39,930 | |
| Cash at bank and in hand | 54/58 | €359,660 | €295,079 | -€64,582 | -18.0% |
| Deferred charges and accrued income | 490/1 | €5,116 | €6,917 | +€1,800 | +35.2% |
| Total equity and liabilities | 10/49 | €1,102,819 | €991,937 | -€110,882 | -10.1% |
| Equity | 10/15 | €511,387 | €405,858 | -€105,529 | -20.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €509,387 | €403,858 | -€105,529 | -20.7% |
| Distributable reserves | 133 | €509,387 | €403,858 | -€105,529 | -20.7% |
| Amounts payable | 17/49 | €591,432 | €586,079 | -€5,353 | -0.9% |
| Amounts payable after more than one year | 17 | €406,508 | €351,000 | -€55,509 | -13.7% |
| Financial debts | 170/4 | €406,508 | €351,000 | -€55,509 | -13.7% |
| Amounts payable within one year | 42/48 | €184,924 | €235,079 | +€50,156 | +27.1% |
| Current portion of amounts payable after more than one year | 42 | €95,503 | €90,055 | -€5,448 | -5.7% |
| Trade debts | 44 | €25,136 | €19,077 | -€6,059 | -24.1% |
| Suppliers | 440/4 | €25,136 | €19,077 | -€6,059 | -24.1% |
| Taxes, remuneration and social security | 45 | €7,888 | €20,635 | +€12,747 | +162% |
| Taxes | 450/3 | €7,888 | €14,777 | +€6,889 | +87.3% |
| Remuneration and social security | 454/9 | - | €5,858 | +€5,858 | |
| Other amounts payable | 47/48 | €56,397 | €105,313 | +€48,916 | +86.7% |
| Remuneration, social security and pensions | 62 | €33,229 | €49,560 | +€16,330 | +49.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,653 | €70,264 | +€3,611 | +5.4% |
| Other operating charges | 640/8 | €2,465 | €2,554 | +€89 | +3.6% |
| Gross operating margin | 9900 | €303,916 | €345,161 | +€41,245 | +13.6% |
| Operating profit (loss) | 9901 | €201,568 | €222,783 | +€21,215 | +10.5% |
| Financial income | 75/76B | €3,026 | €3,006 | -€20 | -0.6% |
| Recurring financial income | 75 | €3,026 | €3,006 | -€20 | -0.6% |
| Financial charges | 65/66B | €16,771 | €17,049 | +€279 | +1.7% |
| Recurring financial charges | 65 | €16,771 | €17,049 | +€279 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €187,823 | €208,740 | +€20,917 | +11.1% |
| Income taxes | 67/77 | €56,323 | €62,526 | +€6,202 | +11.0% |
| Profit (loss) for the period | 9904 | €131,499 | €146,214 | +€14,715 | +11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €131,499 | €146,214 | +€14,715 | +11.2% |
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 21 October 2026 via checked.be.