TANDERS: 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.
TANDERS
Largest movements
- Financial fixed assets +€321,408
new in 2025: €321,408
- Cash +€87,698
up €87,698 (+128.4%), from €68,320 to €156,019
mainly Other debts (+€326,421) and Depreciation (+€72,357)
- Tangible fixed assets -€60,932
down €60,932 (-5.5%), from €1.1m to €1.0m
of which Land and buildings: -€62,979
- Other debts +€326,421
up €326,421 (+3716.1%), from €8,784 to €335,205
- Reserves +€44,593
up €44,593 (+21.4%), from €208,268 to €252,860
of which Distributable reserves: +€52,289
- Trade debts -€32,288
down €32,288 (-91.4%), from €35,330 to €3,042
- Debts after one year +€20,824
up €20,824 (+2.6%), from €802,224 to €823,048
- Gross operating margin +€46,468
up €46,468 (+40.2%), from €115,527 to €161,995
- Taxes +€11,152
up €11,152 (+106.3%), from €10,495 to €21,647
- Other operating charges +€5,722
up €5,722 (+597.2%), from €958 to €6,680
- Depreciation +€3,946
up €3,946 (+5.8%), from €68,411 to €72,357
- Financial charges -€1,936
down €1,936 (-9.2%), from €21,134 to €19,198
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 | €1,176,582 | €1,530,982 | +€354,400 | +30.1% |
| Fixed assets | 21/28 | €1,099,631 | €1,360,107 | +€260,476 | +23.7% |
| Tangible fixed assets | 22/27 | €1,099,631 | €1,038,699 | -€60,932 | -5.5% |
| Land and buildings | 22 | €1,099,426 | €1,036,447 | -€62,979 | -5.7% |
| Plant, machinery and equipment | 23 | - | €1,089 | +€1,089 | |
| Furniture and vehicles | 24 | €205 | €1,163 | +€958 | +467.3% |
| Financial fixed assets | 28 | - | €321,408 | +€321,408 | |
| Current assets | 29/58 | €76,951 | €170,874 | +€93,923 | +122.1% |
| Amounts receivable within one year | 40/41 | €7,469 | €14,503 | +€7,034 | +94.2% |
| Trade receivables | 40 | €5,537 | €14,503 | +€8,966 | +161.9% |
| Other amounts receivable | 41 | €1,932 | €0 | -€1,932 | -100.0% |
| Cash at bank and in hand | 54/58 | €68,320 | €156,019 | +€87,698 | +128.4% |
| Deferred charges and accrued income | 490/1 | €1,161 | €352 | -€809 | -69.7% |
| Total equity and liabilities | 10/49 | €1,176,582 | €1,530,982 | +€354,400 | +30.1% |
| Equity | 10/15 | €211,898 | €256,490 | +€44,593 | +21.0% |
| Contributions | 10/11 | €3,630 | €3,630 | = | 0.0% |
| Reserves | 13 | €208,268 | €252,860 | +€44,593 | +21.4% |
| Tax-exempt reserves | 132 | €147,263 | €139,567 | -€7,696 | -5.2% |
| Distributable reserves | 133 | €61,005 | €113,293 | +€52,289 | +85.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €47,678 | €45,112 | -€2,565 | -5.4% |
| Deferred taxes | 168 | €47,678 | €45,112 | -€2,565 | -5.4% |
| Amounts payable | 17/49 | €917,007 | €1,229,379 | +€312,372 | +34.1% |
| Amounts payable after more than one year | 17 | €802,224 | €823,048 | +€20,824 | +2.6% |
| Financial debts | 170/4 | €802,224 | €823,048 | +€20,824 | +2.6% |
| Amounts payable within one year | 42/48 | €113,081 | €406,332 | +€293,251 | +259.3% |
| Current portion of amounts payable after more than one year | 42 | €61,780 | €53,484 | -€8,295 | -13.4% |
| Trade debts | 44 | €35,330 | €3,042 | -€32,288 | -91.4% |
| Suppliers | 440/4 | €35,330 | €3,042 | -€32,288 | -91.4% |
| Taxes, remuneration and social security | 45 | €7,187 | €14,600 | +€7,414 | +103.2% |
| Taxes | 450/3 | €5,187 | €14,440 | +€9,254 | +178.4% |
| Remuneration and social security | 454/9 | €2,000 | €160 | -€1,840 | -92.0% |
| Other amounts payable | 47/48 | €8,784 | €335,205 | +€326,421 | +3716.1% |
| Accrued charges and deferred income | 492/3 | €1,703 | €0 | -€1,703 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,411 | €72,357 | +€3,946 | +5.8% |
| Other operating charges | 640/8 | €958 | €6,680 | +€5,722 | +597.2% |
| Gross operating margin | 9900 | €115,527 | €161,995 | +€46,468 | +40.2% |
| Operating profit (loss) | 9901 | €46,158 | €82,958 | +€36,800 | +79.7% |
| Financial income | 75/76B | €0 | €584 | +€584 | +119085.7% |
| Recurring financial income | 75 | €0 | €584 | +€584 | +119085.7% |
| Financial charges | 65/66B | €21,134 | €19,198 | -€1,936 | -9.2% |
| Recurring financial charges | 65 | €21,134 | €19,198 | -€1,936 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €25,024 | €64,344 | +€39,320 | +157.1% |
| Transfer from deferred taxes | 780 | €2,435 | €2,565 | +€131 | +5.4% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €10,495 | €21,647 | +€11,152 | +106.3% |
| Profit (loss) for the period | 9904 | €16,964 | €45,262 | +€28,298 | +166.8% |
| Transfer from tax-exempt reserves | 789 | €7,304 | €7,696 | +€392 | +5.4% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €24,268 | €52,958 | +€28,691 | +118.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.