TANDEM LAW: 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 LAW
Largest movements
- Receivables within one year +€15,245
up €15,245 (+37.1%), from €41,087 to €56,332
of which Trade receivables: +€15,842
- Cash -€11,246
down €11,246 (-63.9%), from €17,608 to €6,363
mainly Receivables within one year (-€15,245) and Trade debts (-€5,062)
- Tangible fixed assets -€893
down €893 (-97.5%), from €916 to €23
- Tax, wage and social debts +€7,036
up €7,036 (+168%), from €4,200 to €11,237
of which Remuneration and social security: +€3,900
- Trade debts -€5,062
down €5,062 (-83.8%), from €6,044 to €981
- Profit (loss) carried forward +€1,793
up €1,793 (+4.7%), from €38,108 to €39,901
- Other operating charges -€2,325
down €2,325 (-82.0%), from €2,837 to €512
- Taxes +€2,161
up €2,161, from -€459 to €1,701
- Gross operating margin +€803
up €803 (+18.3%), from €4,398 to €5,202
- Depreciation -€203
down €203 (-18.5%), from €1,095 to €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 | €59,611 | €62,718 | +€3,106 | +5.2% |
| Fixed assets | 21/28 | €916 | €23 | -€893 | -97.5% |
| Tangible fixed assets | 22/27 | €916 | €23 | -€893 | -97.5% |
| Furniture and vehicles | 24 | €916 | €23 | -€893 | -97.5% |
| Current assets | 29/58 | €58,695 | €62,695 | +€3,999 | +6.8% |
| Amounts receivable within one year | 40/41 | €41,087 | €56,332 | +€15,245 | +37.1% |
| Trade receivables | 40 | €40,490 | €56,332 | +€15,842 | +39.1% |
| Other amounts receivable | 41 | €597 | - | -€597 | |
| Cash at bank and in hand | 54/58 | €17,608 | €6,363 | -€11,246 | -63.9% |
| Total equity and liabilities | 10/49 | €59,611 | €62,718 | +€3,106 | +5.2% |
| Equity | 10/15 | €48,108 | €49,901 | +€1,793 | +3.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,108 | €39,901 | +€1,793 | +4.7% |
| Amounts payable | 17/49 | €11,504 | €12,817 | +€1,313 | +11.4% |
| Amounts payable after more than one year | 17 | €161 | - | -€161 | |
| Other amounts payable | 178/9 | €161 | - | -€161 | |
| Amounts payable within one year | 42/48 | €10,843 | €12,817 | +€1,974 | +18.2% |
| Trade debts | 44 | €6,044 | €981 | -€5,062 | -83.8% |
| Suppliers | 440/4 | €6,044 | €981 | -€5,062 | -83.8% |
| Advances received on contracts in progress | 46 | €599 | €599 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,200 | €11,237 | +€7,036 | +168% |
| Taxes | 450/3 | €2,800 | €5,937 | +€3,136 | +112% |
| Remuneration and social security | 454/9 | €1,400 | €5,300 | +€3,900 | +279% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,095 | €893 | -€203 | -18.5% |
| Other operating charges | 640/8 | €2,837 | €512 | -€2,325 | -82.0% |
| Gross operating margin | 9900 | €4,398 | €5,202 | +€803 | +18.3% |
| Operating profit (loss) | 9901 | €467 | €3,797 | +€3,331 | +714% |
| Financial charges | 65/66B | €291 | €303 | +€12 | +4.1% |
| Recurring financial charges | 65 | €291 | €303 | +€12 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €176 | €3,494 | +€3,319 | +1,889% |
| Income taxes | 67/77 | -€459 | €1,701 | +€2,161 | |
| Profit (loss) for the period | 9904 | €635 | €1,793 | +€1,158 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €635 | €1,793 | +€1,158 | +182% |
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 29 October 2026 via checked.be.