TAND-M: 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-M
Largest movements
- Cash -€18,596
down €18,596 (-12.0%), from €155,418 to €136,822
mainly Contributions, distributions and other (-€51,300) and Deferred charges and accrued income (-€4,435)
- Deferred charges and accrued income +€4,435
up €4,435 (+42.6%), from €10,417 to €14,853
- Receivables within one year -€2,416
down €2,416 (-100%), from €2,416 to €0
- Reserves -€18,427
down €18,427 (-12.0%), from €153,657 to €135,230
- Tax, wage and social debts +€1,762
up €1,762 (+16.2%), from €10,900 to €12,662
of which Taxes: +€1,762
- Gross operating margin +€13,562
up €13,562 (+36.4%), from €37,248 to €50,810
- Taxes +€4,179
up €4,179 (+48.1%), from €8,684 to €12,862
- Depreciation -€2,215
down €2,215 (-36.3%), from €6,109 to €3,893
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 | €173,349 | €156,213 | -€17,136 | -9.9% |
| Fixed assets | 21/28 | €5,097 | €4,539 | -€558 | -11.0% |
| Tangible fixed assets | 22/27 | €5,097 | €4,539 | -€558 | -11.0% |
| Plant, machinery and equipment | 23 | €1,007 | €0 | -€1,007 | -100% |
| Furniture and vehicles | 24 | €4,090 | €4,539 | +€449 | +11.0% |
| Current assets | 29/58 | €168,252 | €151,675 | -€16,578 | -9.9% |
| Amounts receivable within one year | 40/41 | €2,416 | €0 | -€2,416 | -100% |
| Other amounts receivable | 41 | €2,416 | €0 | -€2,416 | -100% |
| Cash at bank and in hand | 54/58 | €155,418 | €136,822 | -€18,596 | -12.0% |
| Deferred charges and accrued income | 490/1 | €10,417 | €14,853 | +€4,435 | +42.6% |
| Total equity and liabilities | 10/49 | €173,349 | €156,213 | -€17,136 | -9.9% |
| Equity | 10/15 | €158,657 | €140,230 | -€18,427 | -11.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €153,657 | €135,230 | -€18,427 | -12.0% |
| Distributable reserves | 133 | €153,657 | €135,230 | -€18,427 | -12.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €14,692 | €15,983 | +€1,291 | +8.8% |
| Amounts payable within one year | 42/48 | €14,466 | €15,754 | +€1,288 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,572 | €1,599 | +€26 | +1.7% |
| Suppliers | 440/4 | €1,572 | €1,599 | +€26 | +1.7% |
| Taxes, remuneration and social security | 45 | €10,900 | €12,662 | +€1,762 | +16.2% |
| Taxes | 450/3 | €7,800 | €9,562 | +€1,762 | +22.6% |
| Remuneration and social security | 454/9 | €3,100 | €3,100 | = | 0.0% |
| Other amounts payable | 47/48 | €1,993 | €1,493 | -€500 | -25.1% |
| Accrued charges and deferred income | 492/3 | €226 | €229 | +€3 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,109 | €3,893 | -€2,215 | -36.3% |
| Other operating charges | 640/8 | €1,121 | €1,137 | +€16 | +1.4% |
| Gross operating margin | 9900 | €37,248 | €50,810 | +€13,562 | +36.4% |
| Operating profit (loss) | 9901 | €30,018 | €45,780 | +€15,762 | +52.5% |
| Financial charges | 65/66B | €87 | €45 | -€42 | -48.5% |
| Recurring financial charges | 65 | €87 | €45 | -€42 | -48.5% |
| Profit (loss) for the period before taxes | 9903 | €29,931 | €45,735 | +€15,804 | +52.8% |
| Income taxes | 67/77 | €8,684 | €12,862 | +€4,179 | +48.1% |
| Profit (loss) for the period | 9904 | €21,247 | €32,873 | +€11,625 | +54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,247 | €32,873 | +€11,625 | +54.7% |
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.