TAPIO: what changed
Two fiscal 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.
TAPIO
Largest movements
- Current investments +€400,000
new in 2025: €400,000
- Intangible fixed assets +€226,658
up €226,658 (+33.1%), from €685,094 to €911,752
- Cash +€208,426
up €208,426 (+195.1%), from €106,847 to €315,274
mainly Contributions, distributions and other (+€2.1m) and Depreciation (+€165,212)
- Receivables within one year +€67,829
up €67,829 (+32.8%), from €206,652 to €274,481
of which Trade receivables: +€56,734
- Contributions +€2.1m
up €2.1m (+820.5%), from €252,000 to €2.3m
- Debts after one year -€731,285
no longer reported in 2025 (was €731,285)
- Profit (loss) carried forward -€614,614
down €614,614 (-305.1%), from -€201,437 to -€816,051
- Tax, wage and social debts +€56,820
up €56,820 (+64.1%), from €88,652 to €145,471
of which Remuneration and social security: +€52,085
- Provisions +€53,825
new in 2025: €53,825
- Staff costs +€782,080
up €782,080 (+122.3%), from €639,668 to €1.4m
- Gross operating margin +€449,733
up €449,733 (+73.2%), from €614,518 to €1.1m
- Depreciation +€71,587
up €71,587 (+76.5%), from €93,624 to €165,212
- Provisions +€53,825
new in 2025: €53,825
- Financial charges +€24,424
up €24,424 (+168.8%), from €14,473 to €38,897
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 | €1,108,290 | €2,023,528 | +€915,238 | +82.6% |
| Fixed assets | 21/28 | €690,406 | €920,798 | +€230,391 | +33.4% |
| Intangible fixed assets | 21 | €685,094 | €911,752 | +€226,658 | +33.1% |
| Tangible fixed assets | 22/27 | €4,158 | €7,891 | +€3,733 | +89.8% |
| Plant, machinery and equipment | 23 | €3,378 | €1,734 | -€1,643 | -48.7% |
| Furniture and vehicles | 24 | €780 | €6,157 | +€5,377 | +689.3% |
| Financial fixed assets | 28 | €1,155 | €1,155 | = | 0.0% |
| Current assets | 29/58 | €417,883 | €1,102,730 | +€684,847 | +163.9% |
| Amounts receivable within one year | 40/41 | €206,652 | €274,481 | +€67,829 | +32.8% |
| Trade receivables | 40 | €198,440 | €255,174 | +€56,734 | +28.6% |
| Other amounts receivable | 41 | €8,213 | €19,307 | +€11,095 | +135.1% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €106,847 | €315,274 | +€208,426 | +195.1% |
| Deferred charges and accrued income | 490/1 | €104,383 | €112,976 | +€8,592 | +8.2% |
| Total equity and liabilities | 10/49 | €1,108,290 | €2,023,528 | +€915,238 | +82.6% |
| Equity | 10/15 | €50,563 | €1,503,556 | +€1.5m | +2873.6% |
| Contributions | 10/11 | €252,000 | €2,319,607 | +€2.1m | +820.5% |
| Profit (loss) carried forward | 14 | -€201,437 | -€816,051 | -€614,614 | -305.1% |
| Provisions and deferred taxes | 16 | - | €53,825 | +€53,825 | |
| Provisions for liabilities and charges | 160/5 | - | €53,825 | +€53,825 | |
| Taxes | 161 | - | €53,825 | +€53,825 | |
| Amounts payable | 17/49 | €1,057,726 | €466,147 | -€591,580 | -55.9% |
| Amounts payable after more than one year | 17 | €731,285 | - | -€731,285 | |
| Financial debts | 170/4 | €731,285 | - | -€731,285 | |
| Amounts payable within one year | 42/48 | €181,493 | €281,303 | +€99,810 | +55.0% |
| Trade debts | 44 | €71,660 | €114,931 | +€43,271 | +60.4% |
| Suppliers | 440/4 | €71,660 | €114,931 | +€43,271 | +60.4% |
| Taxes, remuneration and social security | 45 | €88,652 | €145,471 | +€56,820 | +64.1% |
| Taxes | 450/3 | €16,920 | €21,655 | +€4,735 | +28.0% |
| Remuneration and social security | 454/9 | €71,732 | €123,817 | +€52,085 | +72.6% |
| Other amounts payable | 47/48 | €21,181 | €20,901 | -€280 | -1.3% |
| Accrued charges and deferred income | 492/3 | €144,949 | €184,844 | +€39,895 | +27.5% |
| Remuneration, social security and pensions | 62 | €639,668 | €1,421,748 | +€782,080 | +122.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,624 | €165,212 | +€71,587 | +76.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €53,825 | +€53,825 | |
| Other operating charges | 640/8 | €387 | €4,707 | +€4,320 | +1115.3% |
| Gross operating margin | 9900 | €614,518 | €1,064,251 | +€449,733 | +73.2% |
| Operating profit (loss) | 9901 | -€119,162 | -€581,241 | -€462,079 | -387.8% |
| Financial income | 75/76B | €303 | €7,775 | +€7,472 | +2467.4% |
| Recurring financial income | 75 | €303 | €7,775 | +€7,472 | +2467.4% |
| Financial charges | 65/66B | €14,473 | €38,897 | +€24,424 | +168.8% |
| Recurring financial charges | 65 | €14,473 | €38,897 | +€24,424 | +168.8% |
| Profit (loss) for the period before taxes | 9903 | -€133,332 | -€612,364 | -€479,031 | -359.3% |
| Income taxes | 67/77 | €0 | €2,250 | +€2,250 | |
| Profit (loss) for the period | 9904 | -€133,332 | -€614,614 | -€481,281 | -361.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€133,332 | -€614,614 | -€481,281 | -361.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.