TAPART: 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.
TAPART
Largest movements
- Tangible fixed assets +€840,481
up €840,481 (+122.5%), from €686,107 to €1.5m
of which Assets under construction and advance payments: +€810,020
- Receivables within one year +€26,523
up €26,523 (+165.8%), from €15,995 to €42,518
of which Other amounts receivable: +€37,518
- Cash -€17,553
down €17,553 (-69.1%), from €25,396 to €7,843
mainly Investment in fixed assets (net) (-€864,690) and Net result for the year (-€53,362)
- Debts after one year +€541,556
up €541,556 (+70.9%), from €763,995 to €1.3m
- Contributions +€300,000
up €300,000 (+1500.0%), from €20,000 to €320,000
- Profit (loss) carried forward -€53,362
down €53,362 (-52.5%), from -€101,705 to -€155,067
- Current portion of long-term debt +€37,147
up €37,147 (+571.3%), from €6,502 to €43,649
- Trade debts +€27,189
up €27,189 (+912.7%), from €2,979 to €30,168
- Other operating charges -€74,150
down €74,150 (-95.0%), from €78,090 to €3,940
- Gross operating margin -€64,946
down €64,946 (-79.4%), from €81,797 to €16,851
- Financial charges +€8,132
up €8,132 (+857.8%), from €948 to €9,080
- Taxes -€5,000
new in 2025: -€5,000
- Staff costs +€1,290
up €1,290 (+3.5%), from €36,750 to €38,040
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 | €727,498 | €1,576,949 | +€849,451 | +116.8% |
| Fixed assets | 21/28 | €686,107 | €1,526,588 | +€840,481 | +122.5% |
| Tangible fixed assets | 22/27 | €686,107 | €1,526,588 | +€840,481 | +122.5% |
| Plant, machinery and equipment | 23 | €70,161 | €107,776 | +€37,615 | +53.6% |
| Furniture and vehicles | 24 | €15,946 | €8,792 | -€7,154 | -44.9% |
| Assets under construction and advance payments | 27 | €600,000 | €1,410,020 | +€810,020 | +135.0% |
| Current assets | 29/58 | €41,391 | €50,361 | +€8,970 | +21.7% |
| Amounts receivable within one year | 40/41 | €15,995 | €42,518 | +€26,523 | +165.8% |
| Trade receivables | 40 | €14,688 | €3,693 | -€10,995 | -74.9% |
| Other amounts receivable | 41 | €1,307 | €38,825 | +€37,518 | +2870.5% |
| Cash at bank and in hand | 54/58 | €25,396 | €7,843 | -€17,553 | -69.1% |
| Total equity and liabilities | 10/49 | €727,498 | €1,576,949 | +€849,451 | +116.8% |
| Equity | 10/15 | -€81,705 | €164,933 | +€246,638 | |
| Contributions | 10/11 | €20,000 | €320,000 | +€300,000 | +1500.0% |
| Profit (loss) carried forward | 14 | -€101,705 | -€155,067 | -€53,362 | -52.5% |
| Amounts payable | 17/49 | €809,203 | €1,412,016 | +€602,813 | +74.5% |
| Amounts payable after more than one year | 17 | €763,995 | €1,305,551 | +€541,556 | +70.9% |
| Financial debts | 170/4 | €763,995 | €1,305,551 | +€541,556 | +70.9% |
| Amounts payable within one year | 42/48 | €45,208 | €106,465 | +€61,257 | +135.5% |
| Current portion of amounts payable after more than one year | 42 | €6,502 | €43,649 | +€37,147 | +571.3% |
| Financial debts | 43 | €30,000 | €30,000 | = | 0.0% |
| Other loans | 439 | €30,000 | €30,000 | = | 0.0% |
| Trade debts | 44 | €2,979 | €30,168 | +€27,189 | +912.7% |
| Suppliers | 440/4 | €2,979 | €30,168 | +€27,189 | +912.7% |
| Taxes, remuneration and social security | 45 | €2,631 | €2,648 | +€17 | +0.6% |
| Remuneration and social security | 454/9 | €2,631 | €2,648 | +€17 | +0.6% |
| Other amounts payable | 47/48 | €3,096 | - | -€3,096 | |
| Remuneration, social security and pensions | 62 | €36,750 | €38,040 | +€1,290 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,636 | €24,209 | +€573 | +2.4% |
| Other operating charges | 640/8 | €78,090 | €3,940 | -€74,150 | -95.0% |
| Non-recurring operating charges | 66A | €4,406 | - | -€4,406 | |
| Gross operating margin | 9900 | €81,797 | €16,851 | -€64,946 | -79.4% |
| Operating profit (loss) | 9901 | -€61,085 | -€49,338 | +€11,747 | +19.2% |
| Financial income | 75/76B | €61 | €56 | -€5 | -8.2% |
| Recurring financial income | 75 | €61 | €56 | -€5 | -8.2% |
| Financial charges | 65/66B | €948 | €9,080 | +€8,132 | +857.8% |
| Recurring financial charges | 65 | €948 | €9,080 | +€8,132 | +857.8% |
| Profit (loss) for the period before taxes | 9903 | -€61,972 | -€58,362 | +€3,610 | +5.8% |
| Income taxes | 67/77 | - | -€5,000 | -€5,000 | |
| Profit (loss) for the period | 9904 | -€61,972 | -€53,362 | +€8,610 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,972 | -€53,362 | +€8,610 | +13.9% |
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 11 October 2026 via checked.be.