TANDEL: what changed
Two fiscal 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.
TANDEL
Largest movements
- Current investments -€250,000
no longer reported in 2025 (was €250,000)
- Cash +€91,667
up €91,667 (+124.8%), from €73,452 to €165,119
mainly Current investments (+€250,000) and Net result for the year (+€100,984)
- Debts after one year -€125,000
no longer reported in 2025 (was €125,000)
- Reserves -€122,941
down €122,941 (-24.0%), from €512,292 to €389,351
of which Distributable reserves: -€121,100
- Profit (loss) carried forward +€102,825
up €102,825 (+38.1%), from €269,902 to €372,727
- Other debts -€16,201
down €16,201 (-15.9%), from €101,724 to €85,523
- Gross operating margin +€40,332
up €40,332 (+37.6%), from €107,171 to €147,503
- Financial charges -€17,341
down €17,341 (-89.6%), from €19,353 to €2,012
- Taxes +€16,283
up €16,283 (+90.5%), from €17,992 to €34,275
- Financial income +€7,617
new in 2025: €7,617
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.
Cash bridge derived
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 | €1,367,825 | €1,199,306 | -€168,519 | -12.3% |
| Fixed assets | 21/28 | €1,032,305 | €1,022,119 | -€10,186 | -1.0% |
| Tangible fixed assets | 22/27 | €210,650 | €200,464 | -€10,186 | -4.8% |
| Land and buildings | 22 | €210,650 | €197,610 | -€13,040 | -6.2% |
| Plant, machinery and equipment | 23 | - | €2,854 | +€2,854 | |
| Financial fixed assets | 28 | €821,655 | €821,655 | = | 0.0% |
| Current assets | 29/58 | €335,520 | €177,187 | -€158,333 | -47.2% |
| Amounts receivable within one year | 40/41 | €12,068 | €12,068 | = | 0.0% |
| Other amounts receivable | 41 | €12,068 | €12,068 | = | 0.0% |
| Current investments | 50/53 | €250,000 | - | -€250,000 | |
| Cash at bank and in hand | 54/58 | €73,452 | €165,119 | +€91,667 | +124.8% |
| Total equity and liabilities | 10/49 | €1,367,825 | €1,199,306 | -€168,519 | -12.3% |
| Equity | 10/15 | €1,082,194 | €1,062,078 | -€20,116 | -1.9% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €512,292 | €389,351 | -€122,941 | -24.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €27,612 | €25,771 | -€1,841 | -6.7% |
| Distributable reserves | 133 | €454,680 | €333,580 | -€121,100 | -26.6% |
| Profit (loss) carried forward | 14 | €269,902 | €372,727 | +€102,825 | +38.1% |
| Provisions and deferred taxes | 16 | €14,218 | €13,270 | -€948 | -6.7% |
| Deferred taxes | 168 | €14,218 | €13,270 | -€948 | -6.7% |
| Amounts payable | 17/49 | €271,413 | €123,958 | -€147,455 | -54.3% |
| Amounts payable after more than one year | 17 | €125,000 | - | -€125,000 | |
| Advances received on contracts in progress | 176 | €125,000 | - | -€125,000 | |
| Amounts payable within one year | 42/48 | €146,413 | €123,958 | -€22,455 | -15.3% |
| Trade debts | 44 | €1,093 | €116 | -€977 | -89.4% |
| Suppliers | 440/4 | €1,093 | €116 | -€977 | -89.4% |
| Taxes, remuneration and social security | 45 | €43,596 | €38,320 | -€5,276 | -12.1% |
| Taxes | 450/3 | €43,596 | €38,320 | -€5,276 | -12.1% |
| Other amounts payable | 47/48 | €101,724 | €85,523 | -€16,201 | -15.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,829 | €8,497 | -€332 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,450 | €13,388 | -€62 | -0.5% |
| Other operating charges | 640/8 | €5,190 | €5,409 | +€219 | +4.2% |
| Gross operating margin | 9900 | €107,171 | €147,503 | +€40,332 | +37.6% |
| Operating profit (loss) | 9901 | €88,532 | €128,706 | +€40,174 | +45.4% |
| Financial income | 75/76B | - | €7,617 | +€7,617 | |
| Recurring financial income | 75 | - | €7,617 | +€7,617 | |
| Financial charges | 65/66B | €19,353 | €2,012 | -€17,341 | -89.6% |
| Recurring financial charges | 65 | €19,353 | €2,012 | -€17,341 | -89.6% |
| Profit (loss) for the period before taxes | 9903 | €69,178 | €134,311 | +€65,132 | +94.2% |
| Transfer from deferred taxes | 780 | €948 | €948 | = | 0.0% |
| Income taxes | 67/77 | €17,992 | €34,275 | +€16,283 | +90.5% |
| Profit (loss) for the period | 9904 | €52,134 | €100,984 | +€48,849 | +93.7% |
| Transfer from tax-exempt reserves | 789 | €1,841 | €1,841 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €53,975 | €102,825 | +€48,849 | +90.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.