TAPINEX: 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.
TAPINEX
Largest movements
- Receivables within one year +€44,653
up €44,653 (+86.6%), from €51,572 to €96,225
of which Other amounts receivable: +€26,053
- Receivables after one year -€41,314
down €41,314 (-67.4%), from €61,277 to €19,964
- Cash -€24,438
down €24,438 (-19.7%), from €124,272 to €99,834
mainly Receivables within one year (-€44,653) and Other debts (-€41,513)
- Tangible fixed assets +€7,594
up €7,594 (+3.2%), from €237,197 to €244,791
of which Land and buildings: +€8,431
- Other debts -€41,513
down €41,513 (-90.5%), from €45,893 to €4,380
- Reserves +€38,308
up €38,308 (+26.4%), from €144,949 to €183,257
of which Distributable reserves: +€38,308
- Accrued charges and deferred income +€18,220
up €18,220 (+28.5%), from €63,910 to €82,130
- Debts after one year -€15,474
down €15,474 (-12.7%), from €121,989 to €106,515
- Tax, wage and social debts -€13,265
down €13,265 (-66.8%), from €19,851 to €6,586
- Taxes -€10,585
down €10,585 (-28.7%), from €36,879 to €26,294
- Gross operating margin -€8,087
down €8,087 (-6.1%), from €132,552 to €124,465
- Depreciation +€1,328
up €1,328 (+11.5%), from €11,590 to €12,919
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 | €478,673 | €464,204 | -€14,469 | -3.0% |
| Fixed assets | 21/28 | €237,197 | €244,791 | +€7,594 | +3.2% |
| Tangible fixed assets | 22/27 | €237,197 | €244,791 | +€7,594 | +3.2% |
| Land and buildings | 22 | €227,697 | €236,129 | +€8,431 | +3.7% |
| Plant, machinery and equipment | 23 | €3,942 | €3,993 | +€51 | +1.3% |
| Furniture and vehicles | 24 | €5,557 | €4,669 | -€888 | -16.0% |
| Current assets | 29/58 | €241,476 | €219,413 | -€22,063 | -9.1% |
| Amounts receivable after more than one year | 29 | €61,277 | €19,964 | -€41,314 | -67.4% |
| Other amounts receivable | 291 | €61,277 | €19,964 | -€41,314 | -67.4% |
| Stocks and contracts in progress | 3 | €3,515 | €2,571 | -€944 | -26.9% |
| Stocks | 30/36 | €3,515 | €2,571 | -€944 | -26.9% |
| Amounts receivable within one year | 40/41 | €51,572 | €96,225 | +€44,653 | +86.6% |
| Trade receivables | 40 | €39,957 | €58,557 | +€18,600 | +46.5% |
| Other amounts receivable | 41 | €11,615 | €37,668 | +€26,053 | +224.3% |
| Cash at bank and in hand | 54/58 | €124,272 | €99,834 | -€24,438 | -19.7% |
| Deferred charges and accrued income | 490/1 | €840 | €820 | -€20 | -2.4% |
| Total equity and liabilities | 10/49 | €478,673 | €464,204 | -€14,469 | -3.0% |
| Equity | 10/15 | €207,558 | €245,866 | +€38,308 | +18.5% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €144,949 | €183,257 | +€38,308 | +26.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €144,949 | €183,257 | +€38,308 | +26.4% |
| Profit (loss) carried forward | 14 | €42,778 | €42,778 | = | 0.0% |
| Amounts payable | 17/49 | €271,115 | €218,338 | -€52,777 | -19.5% |
| Amounts payable after more than one year | 17 | €121,989 | €106,515 | -€15,474 | -12.7% |
| Financial debts | 170/4 | €121,989 | €106,515 | -€15,474 | -12.7% |
| Amounts payable within one year | 42/48 | €85,216 | €29,693 | -€55,523 | -65.2% |
| Current portion of amounts payable after more than one year | 42 | €15,072 | €16,745 | +€1,673 | +11.1% |
| Trade debts | 44 | €4,401 | €1,982 | -€2,419 | -55.0% |
| Suppliers | 440/4 | €4,401 | €1,982 | -€2,419 | -55.0% |
| Taxes, remuneration and social security | 45 | €19,851 | €6,586 | -€13,265 | -66.8% |
| Taxes | 450/3 | €19,851 | €6,586 | -€13,265 | -66.8% |
| Other amounts payable | 47/48 | €45,893 | €4,380 | -€41,513 | -90.5% |
| Accrued charges and deferred income | 492/3 | €63,910 | €82,130 | +€18,220 | +28.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,590 | €12,919 | +€1,328 | +11.5% |
| Other operating charges | 640/8 | €2,797 | €3,555 | +€758 | +27.1% |
| Non-recurring operating charges | 66A | - | €1,680 | +€1,680 | |
| Gross operating margin | 9900 | €132,552 | €124,465 | -€8,087 | -6.1% |
| Operating profit (loss) | 9901 | €118,164 | €106,311 | -€11,853 | -10.0% |
| Financial income | 75/76B | €444 | €541 | +€96 | +21.7% |
| Recurring financial income | 75 | €444 | €541 | +€96 | +21.7% |
| Financial charges | 65/66B | €6,068 | €5,220 | -€848 | -14.0% |
| Recurring financial charges | 65 | €6,068 | €5,220 | -€848 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €112,540 | €101,632 | -€10,908 | -9.7% |
| Income taxes | 67/77 | €36,879 | €26,294 | -€10,585 | -28.7% |
| Profit (loss) for the period | 9904 | €75,661 | €75,338 | -€323 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,661 | €75,338 | -€323 | -0.4% |
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 9 October 2026 via checked.be.