TANGRAM 2: 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.
What changed
TANGRAM 2
NACE 47.716, Retail sale of clothing and accessories for women, men, children and babies (general range)
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€8,082
2024 · €28,801-€20,719
Equity
€149,465
2024 · €141,383+€8,082
Cash
€68,267
2024 · €61,440+€6,828
Balance sheet total
€851,203
2024 · €882,441-€31,237
Largest movements
Assets
- Tangible fixed assets -€27,422
down €27,422 (-4.7%), from €579,274 to €551,853
of which Land and buildings: -€26,499
- Stocks and contracts -€11,602
down €11,602 (-5.1%), from €228,613 to €217,012
Equity and liabilities
- Debts after one year -€25,317
down €25,317 (-4.0%), from €636,204 to €610,887
- Other debts -€12,691
down €12,691 (-64.6%), from €19,656 to €6,964
- Trade debts +€8,903
up €8,903 (+44.4%), from €20,032 to €28,934
Income statement
- Gross operating margin -€28,909
down €28,909 (-33.2%), from €87,050 to €58,141
- Taxes -€9,264
down €9,264 (-78.0%), from €11,876 to €2,612
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.
Result 2024
€28,801
Gross operating margin
-€28,909
Staff costs
-€362
Depreciation
-€64
Other operating charges
+€442
Financial income
-€236
Financial charges
-€853
Taxes
+€9,264
Result 2025
€8,082
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.
From operations
+€37,706
Investment
€0
Financing
-€30,878
Cash 2024
€61,440
From operations (derived)
+€37,706
Net result for the year
+€8,082
Depreciation
+€27,422
Stocks and contracts
+€11,602
Receivables within one year
-€3,352
Deferred charges and accrued income
+€2,393
Trade debts
+€8,903
Tax, wage and social debts
-€4,653
Other debts
-€12,691
Financing
-€30,878
Debts after one year
-€25,317
Current portion of long-term debt
-€5,561
Cash 2025
€68,267
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €882,441 | €851,203 | -€31,237 | -3.5% |
| Fixed assets | 21/28 | €579,274 | €551,853 | -€27,422 | -4.7% |
| Tangible fixed assets | 22/27 | €579,274 | €551,853 | -€27,422 | -4.7% |
| Land and buildings | 22 | €575,996 | €549,497 | -€26,499 | -4.6% |
| Furniture and vehicles | 24 | €3,278 | €2,356 | -€923 | -28.1% |
| Current assets | 29/58 | €303,166 | €299,351 | -€3,816 | -1.3% |
| Stocks and contracts in progress | 3 | €228,613 | €217,012 | -€11,602 | -5.1% |
| Stocks | 30/36 | €228,613 | €217,012 | -€11,602 | -5.1% |
| Amounts receivable within one year | 40/41 | €10,720 | €14,072 | +€3,352 | +31.3% |
| Trade receivables | 40 | €10,003 | €6,684 | -€3,319 | -33.2% |
| Other amounts receivable | 41 | €716 | €7,388 | +€6,671 | +931.4% |
| Cash at bank and in hand | 54/58 | €61,440 | €68,267 | +€6,828 | +11.1% |
| Deferred charges and accrued income | 490/1 | €2,393 | - | -€2,393 | |
| Total equity and liabilities | 10/49 | €882,441 | €851,203 | -€31,237 | -3.5% |
| Equity | 10/15 | €141,383 | €149,465 | +€8,082 | +5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €122,783 | €130,865 | +€8,082 | +6.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €120,923 | €129,005 | +€8,082 | +6.7% |
| Amounts payable | 17/49 | €741,057 | €701,738 | -€39,319 | -5.3% |
| Amounts payable after more than one year | 17 | €636,204 | €610,887 | -€25,317 | -4.0% |
| Financial debts | 170/4 | €636,204 | €610,887 | -€25,317 | -4.0% |
| Amounts payable within one year | 42/48 | €104,853 | €90,851 | -€14,002 | -13.4% |
| Current portion of amounts payable after more than one year | 42 | €34,987 | €29,427 | -€5,561 | -15.9% |
| Trade debts | 44 | €20,032 | €28,934 | +€8,903 | +44.4% |
| Suppliers | 440/4 | €20,032 | €28,934 | +€8,903 | +44.4% |
| Taxes, remuneration and social security | 45 | €30,179 | €25,526 | -€4,653 | -15.4% |
| Taxes | 450/3 | €25,399 | €17,883 | -€7,516 | -29.6% |
| Remuneration and social security | 454/9 | €4,780 | €7,643 | +€2,863 | +59.9% |
| Other amounts payable | 47/48 | €19,656 | €6,964 | -€12,691 | -64.6% |
| Remuneration, social security and pensions | 62 | €2,624 | €2,986 | +€362 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,358 | €27,422 | +€64 | +0.2% |
| Other operating charges | 640/8 | €4,246 | €3,805 | -€442 | -10.4% |
| Gross operating margin | 9900 | €87,050 | €58,141 | -€28,909 | -33.2% |
| Operating profit (loss) | 9901 | €52,822 | €23,929 | -€28,893 | -54.7% |
| Financial income | 75/76B | €1,671 | €1,434 | -€236 | -14.2% |
| Recurring financial income | 75 | €1,671 | €1,434 | -€236 | -14.2% |
| Financial charges | 65/66B | €13,816 | €14,669 | +€853 | +6.2% |
| Recurring financial charges | 65 | €13,816 | €14,669 | +€853 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €40,677 | €10,695 | -€29,983 | -73.7% |
| Income taxes | 67/77 | €11,876 | €2,612 | -€9,264 | -78.0% |
| Profit (loss) for the period | 9904 | €28,801 | €8,082 | -€20,719 | -71.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,801 | €8,082 | -€20,719 | -71.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.