TAOW: 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.
TAOW
Largest movements
- Cash -€102,995
down €102,995 (-35.4%), from €290,877 to €187,882
mainly Other debts (-€80,928) and Investment in fixed assets (net) (-€47,339)
- Tangible fixed assets +€28,413
up €28,413 (+62.3%), from €45,641 to €74,054
of which Furniture and vehicles: +€29,472
- Receivables within one year +€25,088
up €25,088 (+66.0%), from €38,031 to €63,119
of which Trade receivables: +€25,103
- Other debts -€80,928
down €80,928 (-95.6%), from €84,687 to €3,759
- Reserves +€35,839
up €35,839 (+41.3%), from €86,674 to €122,512
of which Distributable reserves: +€35,839
- Tax, wage and social debts -€5,237
down €5,237 (-24.7%), from €21,161 to €15,925
- Gross operating margin +€14,844
up €14,844 (+25.9%), from €57,386 to €72,230
- Taxes +€3,080
up €3,080 (+24.4%), from €12,616 to €15,695
- Depreciation +€2,931
up €2,931 (+18.3%), from €15,995 to €18,926
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 | €442,212 | €393,376 | -€48,836 | -11.0% |
| Fixed assets | 21/28 | €113,303 | €141,716 | +€28,413 | +25.1% |
| Tangible fixed assets | 22/27 | €45,641 | €74,054 | +€28,413 | +62.3% |
| Land and buildings | 22 | €2,329 | €2,013 | -€316 | -13.6% |
| Plant, machinery and equipment | 23 | €5,330 | €4,587 | -€743 | -13.9% |
| Furniture and vehicles | 24 | €37,982 | €67,454 | +€29,472 | +77.6% |
| Financial fixed assets | 28 | €67,662 | €67,662 | = | 0.0% |
| Current assets | 29/58 | €328,908 | €251,659 | -€77,249 | -23.5% |
| Amounts receivable within one year | 40/41 | €38,031 | €63,119 | +€25,088 | +66.0% |
| Trade receivables | 40 | €28,016 | €53,119 | +€25,103 | +89.6% |
| Other amounts receivable | 41 | €10,015 | €10,000 | -€15 | -0.1% |
| Cash at bank and in hand | 54/58 | €290,877 | €187,882 | -€102,995 | -35.4% |
| Deferred charges and accrued income | 490/1 | - | €658 | +€658 | |
| Total equity and liabilities | 10/49 | €442,212 | €393,376 | -€48,836 | -11.0% |
| Equity | 10/15 | €333,962 | €369,800 | +€35,839 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €86,674 | €122,512 | +€35,839 | +41.3% |
| 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 | €84,814 | €120,652 | +€35,839 | +42.3% |
| Profit (loss) carried forward | 14 | €228,688 | €228,688 | = | 0.0% |
| Amounts payable | 17/49 | €108,250 | €23,575 | -€84,675 | -78.2% |
| Amounts payable within one year | 42/48 | €108,250 | €23,135 | -€85,115 | -78.6% |
| Trade debts | 44 | €2,402 | €3,452 | +€1,050 | +43.7% |
| Suppliers | 440/4 | €2,402 | €3,452 | +€1,050 | +43.7% |
| Taxes, remuneration and social security | 45 | €21,161 | €15,925 | -€5,237 | -24.7% |
| Taxes | 450/3 | €21,161 | €15,925 | -€5,237 | -24.7% |
| Other amounts payable | 47/48 | €84,687 | €3,759 | -€80,928 | -95.6% |
| Accrued charges and deferred income | 492/3 | - | €440 | +€440 | |
| Non-recurring operating income | 76A | - | €9,000 | +€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,995 | €18,926 | +€2,931 | +18.3% |
| Other operating charges | 640/8 | €1,914 | €1,650 | -€263 | -13.8% |
| Gross operating margin | 9900 | €57,386 | €72,230 | +€14,844 | +25.9% |
| Operating profit (loss) | 9901 | €39,477 | €51,654 | +€12,177 | +30.8% |
| Financial income | 75/76B | €16 | €4 | -€12 | -75.3% |
| Recurring financial income | 75 | €16 | €4 | -€12 | -75.3% |
| Financial charges | 65/66B | €131 | €124 | -€6 | -4.9% |
| Recurring financial charges | 65 | €131 | €124 | -€6 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €39,363 | €51,534 | +€12,171 | +30.9% |
| Income taxes | 67/77 | €12,616 | €15,695 | +€3,080 | +24.4% |
| Profit (loss) for the period | 9904 | €26,747 | €35,839 | +€9,091 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,747 | €35,839 | +€9,091 | +34.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.