TAP NORBERT SCHMITZ: 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.
TAP NORBERT SCHMITZ
Largest movements
- Cash +€143,446
up €143,446 (+33.7%), from €426,165 to €569,611
mainly Net result for the year (+€204,375) and Depreciation (+€18,354)
- Current investments +€94,960
new in 2025: €94,960
- Stocks and contracts -€14,037
down €14,037 (-29.1%), from €48,194 to €34,157
- Tangible fixed assets -€13,964
down €13,964 (-24.1%), from €57,888 to €43,924
of which Furniture and vehicles: -€16,175
- Deferred charges and accrued income -€9,064
down €9,064 (-79.8%), from €11,355 to €2,291
- Reserves +€204,375
up €204,375 (+35.6%), from €574,000 to €778,375
- Gross operating margin +€49,296
up €49,296 (+17.8%), from €277,276 to €326,572
- Taxes +€16,610
up €16,610 (+20.8%), from €79,891 to €96,500
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.
Derived cash bridge
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 | €660,476 | €863,803 | +€203,327 | +30.8% |
| Fixed assets | 21/28 | €66,258 | €52,054 | -€14,204 | -21.4% |
| Tangible fixed assets | 22/27 | €57,888 | €43,924 | -€13,964 | -24.1% |
| Plant, machinery and equipment | 23 | €6,219 | €8,430 | +€2,211 | +35.6% |
| Furniture and vehicles | 24 | €51,670 | €35,494 | -€16,175 | -31.3% |
| Financial fixed assets | 28 | €8,370 | €8,130 | -€240 | -2.9% |
| Current assets | 29/58 | €594,218 | €811,749 | +€217,531 | +36.6% |
| Stocks and contracts in progress | 3 | €48,194 | €34,157 | -€14,037 | -29.1% |
| Stocks | 30/36 | €48,194 | €34,157 | -€14,037 | -29.1% |
| Amounts receivable within one year | 40/41 | €108,504 | €110,731 | +€2,227 | +2.1% |
| Trade receivables | 40 | €100,770 | €88,842 | -€11,928 | -11.8% |
| Other amounts receivable | 41 | €7,734 | €21,889 | +€14,155 | +183% |
| Current investments | 50/53 | - | €94,960 | +€94,960 | |
| Cash at bank and in hand | 54/58 | €426,165 | €569,611 | +€143,446 | +33.7% |
| Deferred charges and accrued income | 490/1 | €11,355 | €2,291 | -€9,064 | -79.8% |
| Total equity and liabilities | 10/49 | €660,476 | €863,803 | +€203,327 | +30.8% |
| Equity | 10/15 | €626,941 | €831,317 | +€204,375 | +32.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €574,000 | €778,375 | +€204,375 | +35.6% |
| Distributable reserves | 133 | €574,000 | €778,375 | +€204,375 | +35.6% |
| Profit (loss) carried forward | 14 | €2,941 | €2,942 | +€0 | 0.0% |
| Amounts payable | 17/49 | €33,535 | €32,486 | -€1,049 | -3.1% |
| Amounts payable within one year | 42/48 | €33,535 | €32,486 | -€1,049 | -3.1% |
| Trade debts | 44 | €10,503 | €10,596 | +€93 | +0.9% |
| Suppliers | 440/4 | €10,503 | €10,596 | +€93 | +0.9% |
| Taxes, remuneration and social security | 45 | €23,032 | €21,891 | -€1,141 | -5.0% |
| Taxes | 450/3 | €19,891 | €19,891 | = | 0.0% |
| Remuneration and social security | 454/9 | €3,141 | €2,000 | -€1,141 | -36.3% |
| Remuneration, social security and pensions | 62 | €5,780 | €3,913 | -€1,866 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,737 | €18,354 | +€1,617 | +9.7% |
| Other operating charges | 640/8 | €2,843 | €3,156 | +€312 | +11.0% |
| Gross operating margin | 9900 | €277,276 | €326,572 | +€49,296 | +17.8% |
| Operating profit (loss) | 9901 | €251,916 | €301,149 | +€49,233 | +19.5% |
| Financial income | 75/76B | €1,504 | €5 | -€1,499 | -99.7% |
| Recurring financial income | 75 | €1,504 | €5 | -€1,499 | -99.7% |
| Financial charges | 65/66B | €205 | €257 | +€51 | +25.0% |
| Recurring financial charges | 65 | €205 | €257 | +€51 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €253,215 | €300,897 | +€47,682 | +18.8% |
| Transfer to deferred taxes | 680 | - | €21 | +€21 | |
| Income taxes | 67/77 | €79,891 | €96,500 | +€16,610 | +20.8% |
| Profit (loss) for the period | 9904 | €173,324 | €204,375 | +€31,051 | +17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €173,324 | €204,375 | +€31,051 | +17.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.