TANDEM: 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.
TANDEM
Largest movements
- Cash -€48,944
down €48,944 (-25.8%), from €189,891 to €140,946
mainly Contributions, distributions and other (-€293,379) and Investment in fixed assets (net) (-€23,562)
- Deferred charges and accrued income +€23,456
up €23,456 (+1598.6%), from €1,467 to €24,923
- Receivables within one year -€21,150
down €21,150 (-46.6%), from €45,350 to €24,200
of which Trade receivables: -€19,360
- Tangible fixed assets +€19,286
up €19,286 (+7669.6%), from €251 to €19,537
- Profit (loss) carried forward -€190,046
no longer reported in 2025 (was €190,046)
- Other debts +€120,502
up €120,502 (+75313.9%), from €160 to €120,662
- Tax, wage and social debts +€37,851
up €37,851 (+86.2%), from €43,901 to €81,751
of which Taxes: +€37,860
- Trade debts +€4,531
up €4,531 (+2331.1%), from €194 to €4,725
- Gross operating margin +€77,374
up €77,374 (+121.8%), from €63,546 to €140,920
- Taxes +€15,902
up €15,902 (+97.0%), from €16,390 to €32,292
- Depreciation +€3,961
up €3,961 (+1256.6%), from €315 to €4,276
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 | €237,004 | €209,652 | -€27,352 | -11.5% |
| Fixed assets | 21/28 | €296 | €19,582 | +€19,286 | +6510.7% |
| Tangible fixed assets | 22/27 | €251 | €19,537 | +€19,286 | +7669.6% |
| Furniture and vehicles | 24 | €251 | €19,537 | +€19,286 | +7669.6% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €236,708 | €190,070 | -€46,638 | -19.7% |
| Amounts receivable within one year | 40/41 | €45,350 | €24,200 | -€21,150 | -46.6% |
| Trade receivables | 40 | €43,560 | €24,200 | -€19,360 | -44.4% |
| Other amounts receivable | 41 | €1,790 | - | -€1,790 | |
| Cash at bank and in hand | 54/58 | €189,891 | €140,946 | -€48,944 | -25.8% |
| Deferred charges and accrued income | 490/1 | €1,467 | €24,923 | +€23,456 | +1598.6% |
| Total equity and liabilities | 10/49 | €237,004 | €209,652 | -€27,352 | -11.5% |
| Equity | 10/15 | €192,546 | €2,500 | -€190,046 | -98.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €190,046 | - | -€190,046 | |
| Amounts payable | 17/49 | €44,458 | €207,152 | +€162,694 | +366.0% |
| Amounts payable within one year | 42/48 | €44,255 | €207,139 | +€162,884 | +368.1% |
| Trade debts | 44 | €194 | €4,725 | +€4,531 | +2331.1% |
| Suppliers | 440/4 | €194 | €4,725 | +€4,531 | +2331.1% |
| Taxes, remuneration and social security | 45 | €43,901 | €81,751 | +€37,851 | +86.2% |
| Taxes | 450/3 | €41,891 | €79,751 | +€37,860 | +90.4% |
| Remuneration and social security | 454/9 | €2,010 | €2,000 | -€10 | -0.5% |
| Other amounts payable | 47/48 | €160 | €120,662 | +€120,502 | +75313.9% |
| Accrued charges and deferred income | 492/3 | €203 | €13 | -€190 | -93.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €315 | €4,276 | +€3,961 | +1256.6% |
| Other operating charges | 640/8 | €278 | €1,167 | +€889 | +320.1% |
| Gross operating margin | 9900 | €63,546 | €140,920 | +€77,374 | +121.8% |
| Operating profit (loss) | 9901 | €62,953 | €135,477 | +€72,524 | +115.2% |
| Financial income | 75/76B | €191 | €629 | +€438 | +228.8% |
| Recurring financial income | 75 | €191 | €629 | +€438 | +228.8% |
| Financial charges | 65/66B | €240 | €482 | +€242 | +101.0% |
| Recurring financial charges | 65 | €240 | €482 | +€242 | +101.0% |
| Profit (loss) for the period before taxes | 9903 | €62,904 | €135,624 | +€72,720 | +115.6% |
| Income taxes | 67/77 | €16,390 | €32,292 | +€15,902 | +97.0% |
| Profit (loss) for the period | 9904 | €46,514 | €103,332 | +€56,818 | +122.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,514 | €103,332 | +€56,818 | +122.2% |
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 3 October 2026 via checked.be.