TANDEMCO: 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.
TANDEMCO
Largest movements
- Cash -€268,437
down €268,437 (-70.9%), from €378,647 to €110,210
mainly Current investments (-€240,000) and Investment in fixed assets (net) (-€103,254)
- Current investments +€240,000
up €240,000 (+80.0%), from €300,000 to €540,000
- Tangible fixed assets +€91,519
up €91,519 (+247%), from €37,018 to €128,538
of which Other tangible fixed assets: +€94,281
- Receivables within one year -€44,961
down €44,961 (-60.9%), from €73,842 to €28,881
- Reserves +€31,695
up €31,695 (+4.7%), from €673,017 to €704,712
- Tax, wage and social debts -€13,654
down €13,654 (-75.5%), from €18,083 to €4,429
of which Taxes: -€12,679
- Gross operating margin -€48,538
down €48,538 (-24.6%), from €197,071 to €148,533
- Financial charges +€15,135
up €15,135 (+29.1%), from €52,067 to €67,201
- Taxes -€12,420
down €12,420 (-38.3%), from €32,447 to €20,027
- Staff costs -€11,700
down €11,700 (-41.8%), from €27,964 to €16,264
- Depreciation +€3,122
up €3,122 (+36.2%), from €8,613 to €11,735
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 | €792,908 | €809,764 | +€16,856 | +2.1% |
| Fixed assets | 21/28 | €37,018 | €128,538 | +€91,519 | +247% |
| Tangible fixed assets | 22/27 | €37,018 | €128,538 | +€91,519 | +247% |
| Plant, machinery and equipment | 23 | €1,904 | €993 | -€911 | -47.8% |
| Furniture and vehicles | 24 | €1,851 | - | -€1,851 | |
| Other tangible fixed assets | 26 | €33,264 | €127,545 | +€94,281 | +283% |
| Current assets | 29/58 | €755,890 | €681,227 | -€74,663 | -9.9% |
| Amounts receivable within one year | 40/41 | €73,842 | €28,881 | -€44,961 | -60.9% |
| Trade receivables | 40 | €73,842 | €28,881 | -€44,961 | -60.9% |
| Current investments | 50/53 | €300,000 | €540,000 | +€240,000 | +80.0% |
| Cash at bank and in hand | 54/58 | €378,647 | €110,210 | -€268,437 | -70.9% |
| Deferred charges and accrued income | 490/1 | €3,400 | €2,135 | -€1,265 | -37.2% |
| Total equity and liabilities | 10/49 | €792,908 | €809,764 | +€16,856 | +2.1% |
| Equity | 10/15 | €679,217 | €710,912 | +€31,695 | +4.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €673,017 | €704,712 | +€31,695 | +4.7% |
| Distributable reserves | 133 | €673,017 | €704,712 | +€31,695 | +4.7% |
| Amounts payable | 17/49 | €113,691 | €98,852 | -€14,839 | -13.1% |
| Amounts payable within one year | 42/48 | €113,691 | €98,852 | -€14,839 | -13.1% |
| Trade debts | 44 | €2,413 | €3,066 | +€653 | +27.1% |
| Suppliers | 440/4 | €2,413 | €3,066 | +€653 | +27.1% |
| Taxes, remuneration and social security | 45 | €18,083 | €4,429 | -€13,654 | -75.5% |
| Taxes | 450/3 | €17,107 | €4,429 | -€12,679 | -74.1% |
| Remuneration and social security | 454/9 | €975 | - | -€975 | |
| Other amounts payable | 47/48 | €93,195 | €91,357 | -€1,838 | -2.0% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Remuneration, social security and pensions | 62 | €27,964 | €16,264 | -€11,700 | -41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,613 | €11,735 | +€3,122 | +36.2% |
| Other operating charges | 640/8 | €1,307 | €2,863 | +€1,557 | +119% |
| Gross operating margin | 9900 | €197,071 | €148,533 | -€48,538 | -24.6% |
| Operating profit (loss) | 9901 | €159,188 | €117,671 | -€41,517 | -26.1% |
| Financial income | 75/76B | €4,341 | €1,253 | -€3,088 | -71.1% |
| Recurring financial income | 75 | €4,341 | €1,253 | -€3,088 | -71.1% |
| Financial charges | 65/66B | €52,067 | €67,201 | +€15,135 | +29.1% |
| Recurring financial charges | 65 | €52,067 | €67,201 | +€15,135 | +29.1% |
| Profit (loss) for the period before taxes | 9903 | €111,462 | €51,722 | -€59,739 | -53.6% |
| Income taxes | 67/77 | €32,447 | €20,027 | -€12,420 | -38.3% |
| Profit (loss) for the period | 9904 | €79,015 | €31,695 | -€47,319 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €79,015 | €31,695 | -€47,319 | -59.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.