TandART: 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.
TandART
Largest movements
- Intangible fixed assets -€124,689
down €124,689 (-100%), from €124,689 to €0
- Cash -€48,384
down €48,384 (-17.6%), from €275,636 to €227,251
mainly Contributions, distributions and other (-€449,619) and Debts after one year (-€304,441)
- Tangible fixed assets -€45,673
down €45,673 (-1.8%), from €2.5m to €2.5m
of which Plant, machinery and equipment: -€460,611
- Other debts +€376,004
up €376,004 (+126%), from €297,618 to €673,622
- Reserves -€357,788
down €357,788 (-79.7%), from €448,723 to €90,935
- Debts after one year -€304,441
down €304,441 (-17.6%), from €1.7m to €1.4m
of which Financial debts: -€535,442
- Trade debts +€204,714
up €204,714 (+132%), from €155,286 to €360,000
- Current portion of long-term debt -€102,935
down €102,935 (-49.8%), from €206,693 to €103,759
- Gross operating margin -€718,523
down €718,523 (-74.9%), from €959,607 to €241,084
- Staff costs -€265,286
down €265,286 (-100%), from €265,286 to €0
- Depreciation -€131,254
down €131,254 (-54.0%), from €242,906 to €111,652
- Financial charges -€18,462
down €18,462 (-38.7%), from €47,723 to €29,261
- Taxes -€11,667
down €11,667 (-58.0%), from €20,128 to €8,461
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 | €2,969,725 | €2,726,461 | -€243,264 | -8.2% |
| Fixed assets | 21/28 | €2,664,873 | €2,498,560 | -€166,312 | -6.2% |
| Intangible fixed assets | 21 | €124,689 | €0 | -€124,689 | -100% |
| Tangible fixed assets | 22/27 | €2,540,184 | €2,494,510 | -€45,673 | -1.8% |
| Land and buildings | 22 | €2,029,593 | €2,494,510 | +€464,917 | +22.9% |
| Plant, machinery and equipment | 23 | €460,611 | €0 | -€460,611 | -100% |
| Furniture and vehicles | 24 | €49,979 | €0 | -€49,979 | -100% |
| Financial fixed assets | 28 | €0 | €4,050 | +€4,050 | |
| Current assets | 29/58 | €304,852 | €227,900 | -€76,952 | -25.2% |
| Stocks and contracts in progress | 3 | €25,000 | €0 | -€25,000 | -100% |
| Stocks | 30/36 | €25,000 | €0 | -€25,000 | -100% |
| Amounts receivable within one year | 40/41 | €3,443 | €0 | -€3,443 | -100% |
| Other amounts receivable | 41 | €3,443 | €0 | -€3,443 | -100% |
| Cash at bank and in hand | 54/58 | €275,636 | €227,251 | -€48,384 | -17.6% |
| Deferred charges and accrued income | 490/1 | €773 | €649 | -€124 | -16.1% |
| Total equity and liabilities | 10/49 | €2,969,725 | €2,726,461 | -€243,264 | -8.2% |
| Equity | 10/15 | €518,723 | €160,814 | -€357,909 | -69.0% |
| Contributions | 10/11 | €70,000 | €69,879 | -€121 | -0.2% |
| Reserves | 13 | €448,723 | €90,935 | -€357,788 | -79.7% |
| Distributable reserves | 133 | €448,723 | €90,935 | -€357,788 | -79.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,451,002 | €2,565,647 | +€114,645 | +4.7% |
| Amounts payable after more than one year | 17 | €1,729,245 | €1,424,804 | -€304,441 | -17.6% |
| Financial debts | 170/4 | €1,728,803 | €1,193,361 | -€535,442 | -31.0% |
| Other amounts payable | 178/9 | €443 | €231,444 | +€231,001 | +52,192% |
| Amounts payable within one year | 42/48 | €720,555 | €1,140,842 | +€420,287 | +58.3% |
| Current portion of amounts payable after more than one year | 42 | €206,693 | €103,759 | -€102,935 | -49.8% |
| Trade debts | 44 | €155,286 | €360,000 | +€204,714 | +132% |
| Suppliers | 440/4 | €155,286 | €360,000 | +€204,714 | +132% |
| Taxes, remuneration and social security | 45 | €60,958 | €3,461 | -€57,496 | -94.3% |
| Taxes | 450/3 | €22,090 | €3,461 | -€18,629 | -84.3% |
| Remuneration and social security | 454/9 | €38,868 | €0 | -€38,868 | -100% |
| Other amounts payable | 47/48 | €297,618 | €673,622 | +€376,004 | +126% |
| Accrued charges and deferred income | 492/3 | €1,201 | €0 | -€1,201 | -100% |
| Remuneration, social security and pensions | 62 | €265,286 | €0 | -€265,286 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242,906 | €111,652 | -€131,254 | -54.0% |
| Other operating charges | 640/8 | €2,227 | €0 | -€2,227 | -100% |
| Non-recurring operating charges | 66A | €1,861 | €0 | -€1,861 | -100% |
| Gross operating margin | 9900 | €959,607 | €241,084 | -€718,523 | -74.9% |
| Operating profit (loss) | 9901 | €447,327 | €129,432 | -€317,895 | -71.1% |
| Financial income | 75/76B | €30 | €0 | -€30 | -100% |
| Recurring financial income | 75 | €30 | €0 | -€30 | -100% |
| Financial charges | 65/66B | €47,723 | €29,261 | -€18,462 | -38.7% |
| Recurring financial charges | 65 | €47,723 | €29,261 | -€18,462 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €399,634 | €100,171 | -€299,463 | -74.9% |
| Income taxes | 67/77 | €20,128 | €8,461 | -€11,667 | -58.0% |
| Profit (loss) for the period | 9904 | €379,506 | €91,710 | -€287,796 | -75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €379,506 | €91,710 | -€287,796 | -75.8% |
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 24 October 2026 via checked.be.