TAPIGROS: 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.
TAPIGROS
Largest movements
- Cash +€16,308
up €16,308 (+8.7%), from €186,685 to €202,993
mainly Tax, wage and social debts (+€14,493) and Other debts (+€6,189)
- Tax, wage and social debts +€14,493
up €14,493 (+152%), from €9,506 to €23,999
of which Remuneration and social security: +€12,000
- Gross operating margin -€10,186
down €10,186 (-33.5%), from €30,361 to €20,175
- Financial charges -€3,202
down €3,202 (-25.5%), from €12,566 to €9,364
- Financial income -€3,157
down €3,157 (-47.7%), from €6,615 to €3,458
- Taxes -€2,963
no longer reported in 2025 (was €2,963)
- Other operating charges +€473
up €473 (+3.1%), from €15,186 to €15,659
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 | €716,845 | €736,348 | +€19,503 | +2.7% |
| Fixed assets | 21/28 | €94,478 | €94,160 | -€318 | -0.3% |
| Tangible fixed assets | 22/27 | €94,478 | €94,160 | -€318 | -0.3% |
| Land and buildings | 22 | €92,041 | €92,041 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,437 | €2,119 | -€318 | -13.0% |
| Current assets | 29/58 | €622,367 | €642,188 | +€19,821 | +3.2% |
| Amounts receivable within one year | 40/41 | €127,543 | €127,888 | +€345 | +0.3% |
| Trade receivables | 40 | €229 | €197 | -€33 | -14.3% |
| Other amounts receivable | 41 | €127,313 | €127,691 | +€378 | +0.3% |
| Current investments | 50/53 | €306,434 | €309,589 | +€3,155 | +1.0% |
| Cash at bank and in hand | 54/58 | €186,685 | €202,993 | +€16,308 | +8.7% |
| Deferred charges and accrued income | 490/1 | €1,705 | €1,718 | +€13 | +0.8% |
| Total equity and liabilities | 10/49 | €716,845 | €736,348 | +€19,503 | +2.7% |
| Equity | 10/15 | €581,306 | €579,599 | -€1,707 | -0.3% |
| Contributions | 10/11 | €99,157 | €99,157 | = | 0.0% |
| Capital | 10 | €99,157 | €99,157 | = | 0.0% |
| Issued capital | 100 | €99,157 | €99,157 | = | 0.0% |
| Reserves | 13 | €139,067 | €139,067 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,916 | €9,916 | = | 0.0% |
| Legal reserve | 130 | €9,916 | €9,916 | = | 0.0% |
| Distributable reserves | 133 | €129,151 | €129,151 | = | 0.0% |
| Profit (loss) carried forward | 14 | €343,082 | €341,375 | -€1,707 | -0.5% |
| Amounts payable | 17/49 | €135,539 | €156,749 | +€21,210 | +15.6% |
| Amounts payable within one year | 42/48 | €135,539 | €156,749 | +€21,210 | +15.6% |
| Trade debts | 44 | €1,155 | €1,683 | +€528 | +45.7% |
| Suppliers | 440/4 | €1,155 | €1,683 | +€528 | +45.7% |
| Taxes, remuneration and social security | 45 | €9,506 | €23,999 | +€14,493 | +152% |
| Taxes | 450/3 | €5,506 | €7,999 | +€2,493 | +45.3% |
| Remuneration and social security | 454/9 | €4,000 | €16,000 | +€12,000 | +300% |
| Other amounts payable | 47/48 | €124,878 | €131,067 | +€6,189 | +5.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €550 | €318 | -€232 | -42.2% |
| Other operating charges | 640/8 | €15,186 | €15,659 | +€473 | +3.1% |
| Gross operating margin | 9900 | €30,361 | €20,175 | -€10,186 | -33.5% |
| Operating profit (loss) | 9901 | €14,625 | €4,199 | -€10,427 | -71.3% |
| Financial income | 75/76B | €6,615 | €3,458 | -€3,157 | -47.7% |
| Recurring financial income | 75 | €6,615 | €3,458 | -€3,157 | -47.7% |
| Financial charges | 65/66B | €12,566 | €9,364 | -€3,202 | -25.5% |
| Recurring financial charges | 65 | €12,566 | €9,364 | -€3,202 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €8,675 | -€1,707 | -€10,382 | |
| Income taxes | 67/77 | €2,963 | - | -€2,963 | |
| Profit (loss) for the period | 9904 | €5,712 | -€1,707 | -€7,419 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,712 | -€1,707 | -€7,419 |
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 13 October 2026 via checked.be.