Tangthai: 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.
Tangthai
Largest movements
- Receivables within one year +€148,289
up €148,289 (+2823.7%), from €5,252 to €153,540
of which Trade receivables: +€124,891
- Cash -€55,137
down €55,137 (-57.2%), from €96,334 to €41,197
mainly Receivables within one year (-€148,289) and Investment in fixed assets (net) (-€32,366)
- Tangible fixed assets -€7,159
down €7,159 (-2.3%), from €312,017 to €304,857
of which Furniture and vehicles: -€10,810
- Financial fixed assets +€6,000
new in 2025: €6,000
- Stocks and contracts +€5,414
up €5,414 (+40.7%), from €13,298 to €18,712
- Trade debts +€58,785
up €58,785 (+932.4%), from €6,305 to €65,090
- Tax, wage and social debts +€28,361
up €28,361 (+273.6%), from €10,366 to €38,727
of which Remuneration and social security: +€20,563
- Reserves +€11,047
up €11,047 (+6.7%), from €165,209 to €176,256
- Debts after one year -€10,596
down €10,596 (-5.5%), from €192,850 to €182,254
- Current portion of long-term debt +€8,576
up €8,576 (+82.2%), from €10,435 to €19,011
- Gross operating margin +€55,398
up €55,398 (+18.3%), from €302,766 to €358,163
- Staff costs +€55,054
up €55,054 (+30.1%), from €182,877 to €237,931
- Other operating charges +€54,886
up €54,886 (+6166.9%), from €890 to €55,776
- Taxes -€15,206
down €15,206 (-76.8%), from €19,808 to €4,602
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 | €430,245 | €527,762 | +€97,517 | +22.7% |
| Fixed assets | 21/28 | €313,373 | €311,387 | -€1,986 | -0.6% |
| Intangible fixed assets | 21 | €1,356 | €530 | -€826 | -60.9% |
| Tangible fixed assets | 22/27 | €312,017 | €304,857 | -€7,159 | -2.3% |
| Land and buildings | 22 | €267,234 | €268,609 | +€1,374 | +0.5% |
| Plant, machinery and equipment | 23 | €13,702 | €15,978 | +€2,276 | +16.6% |
| Furniture and vehicles | 24 | €31,080 | €20,271 | -€10,810 | -34.8% |
| Financial fixed assets | 28 | - | €6,000 | +€6,000 | |
| Current assets | 29/58 | €116,872 | €216,375 | +€99,503 | +85.1% |
| Stocks and contracts in progress | 3 | €13,298 | €18,712 | +€5,414 | +40.7% |
| Stocks | 30/36 | €13,298 | €18,712 | +€5,414 | +40.7% |
| Amounts receivable within one year | 40/41 | €5,252 | €153,540 | +€148,289 | +2823.7% |
| Trade receivables | 40 | €60 | €124,951 | +€124,891 | +208152.1% |
| Other amounts receivable | 41 | €5,192 | €28,589 | +€23,398 | +450.7% |
| Cash at bank and in hand | 54/58 | €96,334 | €41,197 | -€55,137 | -57.2% |
| Deferred charges and accrued income | 490/1 | €1,989 | €2,925 | +€937 | +47.1% |
| Total equity and liabilities | 10/49 | €430,245 | €527,762 | +€97,517 | +22.7% |
| Equity | 10/15 | €190,209 | €201,256 | +€11,047 | +5.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €165,209 | €176,256 | +€11,047 | +6.7% |
| Distributable reserves | 133 | €165,209 | €176,256 | +€11,047 | +6.7% |
| Amounts payable | 17/49 | €240,036 | €326,506 | +€86,470 | +36.0% |
| Amounts payable after more than one year | 17 | €192,850 | €182,254 | -€10,596 | -5.5% |
| Financial debts | 170/4 | €192,850 | €182,254 | -€10,596 | -5.5% |
| Amounts payable within one year | 42/48 | €44,895 | €142,912 | +€98,017 | +218.3% |
| Current portion of amounts payable after more than one year | 42 | €10,435 | €19,011 | +€8,576 | +82.2% |
| Trade debts | 44 | €6,305 | €65,090 | +€58,785 | +932.4% |
| Suppliers | 440/4 | €6,305 | €65,090 | +€58,785 | +932.4% |
| Taxes, remuneration and social security | 45 | €10,366 | €38,727 | +€28,361 | +273.6% |
| Taxes | 450/3 | €2,951 | €10,749 | +€7,798 | +264.2% |
| Remuneration and social security | 454/9 | €7,415 | €27,978 | +€20,563 | +277.3% |
| Other amounts payable | 47/48 | €17,789 | €20,083 | +€2,295 | +12.9% |
| Accrued charges and deferred income | 492/3 | €2,291 | €1,341 | -€951 | -41.5% |
| Remuneration, social security and pensions | 62 | €182,877 | €237,931 | +€55,054 | +30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,814 | €34,352 | -€462 | -1.3% |
| Other operating charges | 640/8 | €890 | €55,776 | +€54,886 | +6166.9% |
| Gross operating margin | 9900 | €302,766 | €358,163 | +€55,398 | +18.3% |
| Operating profit (loss) | 9901 | €84,185 | €30,104 | -€54,081 | -64.2% |
| Financial income | 75/76B | €0 | €6 | +€6 | +60100.0% |
| Recurring financial income | 75 | €0 | €6 | +€6 | +60100.0% |
| Financial charges | 65/66B | €13,136 | €14,461 | +€1,325 | +10.1% |
| Recurring financial charges | 65 | €13,136 | €14,461 | +€1,325 | +10.1% |
| Profit (loss) for the period before taxes | 9903 | €71,049 | €15,649 | -€55,400 | -78.0% |
| Income taxes | 67/77 | €19,808 | €4,602 | -€15,206 | -76.8% |
| Profit (loss) for the period | 9904 | €51,240 | €11,047 | -€40,193 | -78.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,240 | €11,047 | -€40,193 | -78.4% |
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 2 October 2026 via checked.be.