TANDVOS: 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.
TANDVOS
Largest movements
- Current investments +€384,158
new in 2025: €384,158
- Cash -€117,359
down €117,359 (-22.5%), from €521,325 to €403,965
mainly Current investments (-€384,158) and Deferred charges and accrued income (-€97,248)
- Deferred charges and accrued income +€97,248
up €97,248 (+1400.9%), from €6,942 to €104,190
- Tangible fixed assets -€45,161
down €45,161 (-16.6%), from €271,736 to €226,575
of which Land and buildings: -€34,967
- Intangible fixed assets -€40,000
down €40,000 (-14.3%), from €280,548 to €240,548
- Reserves +€326,788
up €326,788 (+52.2%), from €625,934 to €952,722
- Debts after one year -€76,435
down €76,435 (-21.5%), from €355,881 to €279,446
- Gross operating margin +€72,270
up €72,270 (+13.9%), from €519,383 to €591,653
- Taxes +€16,307
up €16,307 (+18.3%), from €88,906 to €105,213
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 | €1,200,241 | €1,453,568 | +€253,326 | +21.1% |
| Fixed assets | 21/28 | €552,284 | €467,123 | -€85,161 | -15.4% |
| Intangible fixed assets | 21 | €280,548 | €240,548 | -€40,000 | -14.3% |
| Tangible fixed assets | 22/27 | €271,736 | €226,575 | -€45,161 | -16.6% |
| Land and buildings | 22 | €245,278 | €210,311 | -€34,967 | -14.3% |
| Plant, machinery and equipment | 23 | €25,848 | €16,264 | -€9,584 | -37.1% |
| Furniture and vehicles | 24 | €610 | - | -€610 | |
| Current assets | 29/58 | €647,957 | €986,444 | +€338,487 | +52.2% |
| Stocks and contracts in progress | 3 | €24,130 | €24,130 | = | 0.0% |
| Stocks | 30/36 | €24,130 | €24,130 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €95,561 | €70,001 | -€25,560 | -26.7% |
| Trade receivables | 40 | €28,393 | €28,146 | -€247 | -0.9% |
| Other amounts receivable | 41 | €67,169 | €41,855 | -€25,314 | -37.7% |
| Current investments | 50/53 | - | €384,158 | +€384,158 | |
| Cash at bank and in hand | 54/58 | €521,325 | €403,965 | -€117,359 | -22.5% |
| Deferred charges and accrued income | 490/1 | €6,942 | €104,190 | +€97,248 | +1400.9% |
| Total equity and liabilities | 10/49 | €1,200,241 | €1,453,568 | +€253,326 | +21.1% |
| Equity | 10/15 | €635,934 | €962,722 | +€326,788 | +51.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €625,934 | €952,722 | +€326,788 | +52.2% |
| Distributable reserves | 133 | €625,934 | €952,722 | +€326,788 | +52.2% |
| Amounts payable | 17/49 | €564,308 | €490,846 | -€73,462 | -13.0% |
| Amounts payable after more than one year | 17 | €355,881 | €279,446 | -€76,435 | -21.5% |
| Financial debts | 170/4 | €355,881 | €279,446 | -€76,435 | -21.5% |
| Amounts payable within one year | 42/48 | €197,275 | €210,764 | +€13,489 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | €75,349 | €76,435 | +€1,086 | +1.4% |
| Trade debts | 44 | €10,553 | €13,711 | +€3,157 | +29.9% |
| Suppliers | 440/4 | €10,553 | €13,711 | +€3,157 | +29.9% |
| Taxes, remuneration and social security | 45 | €11,610 | €14,575 | +€2,965 | +25.5% |
| Taxes | 450/3 | €2,618 | €2,557 | -€61 | -2.3% |
| Remuneration and social security | 454/9 | €8,992 | €12,018 | +€3,026 | +33.7% |
| Other amounts payable | 47/48 | €99,762 | €106,043 | +€6,281 | +6.3% |
| Accrued charges and deferred income | 492/3 | €11,152 | €636 | -€10,515 | -94.3% |
| Remuneration, social security and pensions | 62 | €55,618 | €59,068 | +€3,450 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,281 | €85,161 | -€120 | -0.1% |
| Other operating charges | 640/8 | €376 | €1,143 | +€766 | +203.8% |
| Gross operating margin | 9900 | €519,383 | €591,653 | +€72,270 | +13.9% |
| Operating profit (loss) | 9901 | €378,108 | €446,282 | +€68,174 | +18.0% |
| Financial income | 75/76B | €164 | €482 | +€318 | +194.3% |
| Recurring financial income | 75 | €164 | €482 | +€318 | +194.3% |
| Financial charges | 65/66B | €10,606 | €14,763 | +€4,157 | +39.2% |
| Recurring financial charges | 65 | €10,606 | €14,763 | +€4,157 | +39.2% |
| Profit (loss) for the period before taxes | 9903 | €367,666 | €432,001 | +€64,336 | +17.5% |
| Income taxes | 67/77 | €88,906 | €105,213 | +€16,307 | +18.3% |
| Profit (loss) for the period | 9904 | €278,760 | €326,788 | +€48,028 | +17.2% |
| Profit (loss) for the period to be appropriated | 9905 | €278,760 | €326,788 | +€48,028 | +17.2% |
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 8 October 2026 via checked.be.