TANDEM: 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.
TANDEM
Largest movements
- Tangible fixed assets -€28,562
down €28,562 (-8.1%), from €352,528 to €323,966
of which Other tangible fixed assets: -€20,661
- Cash -€22,448
down €22,448 (-81.8%), from €27,456 to €5,007
mainly Trade debts (-€26,195) and Net result for the year (-€15,631)
- Receivables within one year +€9,335
up €9,335 (+62.8%), from €14,865 to €24,200
of which Trade receivables: +€24,200
- Trade debts -€26,195
down €26,195 (-99.7%), from €26,284 to €89
- Profit (loss) carried forward -€15,631
down €15,631 (-118.0%), from -€13,252 to -€28,883
- Debts after one year -€12,773
down €12,773 (-4.5%), from €286,206 to €273,433
- Contributions +€12,400
up €12,400 (+153.8%), from €8,060 to €20,460
- Tax, wage and social debts +€4,115
up €4,115 (+83.6%), from €4,922 to €9,036
- Gross operating margin +€18,677
up €18,677 (+124.8%), from €14,962 to €33,639
- Depreciation +€6,409
up €6,409 (+18.8%), from €34,078 to €40,486
- Other operating charges +€620
up €620 (+48.7%), from €1,274 to €1,895
- Financial charges -€596
down €596 (-8.2%), from €7,310 to €6,714
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 | €398,806 | €354,946 | -€43,860 | -11.0% |
| Fixed assets | 21/28 | €353,703 | €324,341 | -€29,362 | -8.3% |
| Tangible fixed assets | 22/27 | €352,528 | €323,966 | -€28,562 | -8.1% |
| Land and buildings | 22 | €249,259 | €242,601 | -€6,659 | -2.7% |
| Furniture and vehicles | 24 | €6,141 | €4,900 | -€1,242 | -20.2% |
| Other tangible fixed assets | 26 | €97,127 | €76,466 | -€20,661 | -21.3% |
| Financial fixed assets | 28 | €1,175 | €375 | -€800 | -68.1% |
| Current assets | 29/58 | €45,103 | €30,605 | -€14,498 | -32.1% |
| Amounts receivable within one year | 40/41 | €14,865 | €24,200 | +€9,335 | +62.8% |
| Trade receivables | 40 | - | €24,200 | +€24,200 | |
| Other amounts receivable | 41 | €14,865 | - | -€14,865 | |
| Cash at bank and in hand | 54/58 | €27,456 | €5,007 | -€22,448 | -81.8% |
| Deferred charges and accrued income | 490/1 | €2,783 | €1,397 | -€1,386 | -49.8% |
| Total equity and liabilities | 10/49 | €398,806 | €354,946 | -€43,860 | -11.0% |
| Equity | 10/15 | -€5,192 | -€8,423 | -€3,231 | -62.2% |
| Contributions | 10/11 | €8,060 | €20,460 | +€12,400 | +153.8% |
| Profit (loss) carried forward | 14 | -€13,252 | -€28,883 | -€15,631 | -118.0% |
| Amounts payable | 17/49 | €403,998 | €363,369 | -€40,629 | -10.1% |
| Amounts payable after more than one year | 17 | €286,206 | €273,433 | -€12,773 | -4.5% |
| Financial debts | 170/4 | €286,206 | €273,433 | -€12,773 | -4.5% |
| Amounts payable within one year | 42/48 | €117,792 | €89,936 | -€27,856 | -23.6% |
| Current portion of amounts payable after more than one year | 42 | €16,423 | €12,773 | -€3,649 | -22.2% |
| Trade debts | 44 | €26,284 | €89 | -€26,195 | -99.7% |
| Suppliers | 440/4 | €26,284 | €89 | -€26,195 | -99.7% |
| Taxes, remuneration and social security | 45 | €4,922 | €9,036 | +€4,115 | +83.6% |
| Taxes | 450/3 | €4,922 | €9,036 | +€4,115 | +83.6% |
| Other amounts payable | 47/48 | €70,163 | €68,038 | -€2,126 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,078 | €40,486 | +€6,409 | +18.8% |
| Other operating charges | 640/8 | €1,274 | €1,895 | +€620 | +48.7% |
| Gross operating margin | 9900 | €14,962 | €33,639 | +€18,677 | +124.8% |
| Operating profit (loss) | 9901 | -€20,390 | -€8,742 | +€11,648 | +57.1% |
| Financial charges | 65/66B | €7,310 | €6,714 | -€596 | -8.2% |
| Recurring financial charges | 65 | €7,310 | €6,714 | -€596 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | -€27,700 | -€15,456 | +€12,244 | +44.2% |
| Income taxes | 67/77 | €132 | €175 | +€43 | +32.4% |
| Profit (loss) for the period | 9904 | -€27,832 | -€15,631 | +€12,201 | +43.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,832 | -€15,631 | +€12,201 | +43.8% |
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 9 October 2026 via checked.be.