TAR GROUP: 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.
TAR GROUP
Largest movements
- Receivables within one year +€11,743
up €11,743 (+17.4%), from €67,666 to €79,408
of which Trade receivables: +€11,249
- Deferred charges and accrued income -€3,404
down €3,404 (-100.0%), from €3,404 to €0
- Cash -€1,403
down €1,403 (-100.0%), from €1,403 to €0
mainly Receivables within one year (-€11,743) and Trade debts (-€8,564)
- Profit (loss) carried forward +€16,988
up €16,988 (+71.3%), from €23,812 to €40,800
- Trade debts -€8,564
down €8,564 (-36.5%), from €23,435 to €14,871
- Other debts -€6,501
down €6,501 (-47.8%), from €13,610 to €7,110
- Short-term financial debts +€5,970
new in 2025: €5,970
- Tax, wage and social debts -€887
down €887 (-7.3%), from €12,225 to €11,338
of which Remuneration and social security: -€5,800
- Taxes -€2,068
down €2,068 (-29.9%), from €6,914 to €4,846
- Staff costs +€860
new in 2025: €860
- Financial income -€844
down €844 (-96.4%), from €875 to €31
- Gross operating margin +€805
up €805 (+2.7%), from €29,383 to €30,187
- Depreciation -€639
down €639 (-26.5%), from €2,407 to €1,768
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 | €74,083 | €81,105 | +€7,022 | +9.5% |
| Fixed assets | 21/28 | €1,611 | €1,697 | +€86 | +5.3% |
| Tangible fixed assets | 22/27 | €1,611 | €1,697 | +€86 | +5.3% |
| Plant, machinery and equipment | 23 | €1,018 | €1,117 | +€100 | +9.8% |
| Furniture and vehicles | 24 | €593 | €579 | -€14 | -2.3% |
| Current assets | 29/58 | €72,472 | €79,408 | +€6,936 | +9.6% |
| Amounts receivable within one year | 40/41 | €67,666 | €79,408 | +€11,743 | +17.4% |
| Trade receivables | 40 | €67,666 | €78,914 | +€11,249 | +16.6% |
| Other amounts receivable | 41 | - | €494 | +€494 | |
| Cash at bank and in hand | 54/58 | €1,403 | €0 | -€1,403 | -100.0% |
| Deferred charges and accrued income | 490/1 | €3,404 | €0 | -€3,404 | -100.0% |
| Total equity and liabilities | 10/49 | €74,083 | €81,105 | +€7,022 | +9.5% |
| Equity | 10/15 | €24,812 | €41,800 | +€16,988 | +68.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,812 | €40,800 | +€16,988 | +71.3% |
| Amounts payable | 17/49 | €49,271 | €39,305 | -€9,966 | -20.2% |
| Amounts payable within one year | 42/48 | €49,271 | €39,289 | -€9,981 | -20.3% |
| Financial debts | 43 | - | €5,970 | +€5,970 | |
| Credit institutions | 430/8 | - | €5,970 | +€5,970 | |
| Trade debts | 44 | €23,435 | €14,871 | -€8,564 | -36.5% |
| Suppliers | 440/4 | €23,435 | €14,871 | -€8,564 | -36.5% |
| Taxes, remuneration and social security | 45 | €12,225 | €11,338 | -€887 | -7.3% |
| Taxes | 450/3 | €4,925 | €9,838 | +€4,913 | +99.8% |
| Remuneration and social security | 454/9 | €7,300 | €1,500 | -€5,800 | -79.5% |
| Other amounts payable | 47/48 | €13,610 | €7,110 | -€6,501 | -47.8% |
| Accrued charges and deferred income | 492/3 | - | €15 | +€15 | |
| Remuneration, social security and pensions | 62 | - | €860 | +€860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,407 | €1,768 | -€639 | -26.5% |
| Other operating charges | 640/8 | €2,127 | €2,599 | +€472 | +22.2% |
| Gross operating margin | 9900 | €29,383 | €30,187 | +€805 | +2.7% |
| Operating profit (loss) | 9901 | €24,849 | €24,960 | +€111 | +0.4% |
| Financial income | 75/76B | €875 | €31 | -€844 | -96.4% |
| Recurring financial income | 75 | €875 | €31 | -€844 | -96.4% |
| Financial charges | 65/66B | €3,784 | €3,157 | -€627 | -16.6% |
| Recurring financial charges | 65 | €3,784 | €3,157 | -€627 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €21,940 | €21,834 | -€105 | -0.5% |
| Income taxes | 67/77 | €6,914 | €4,846 | -€2,068 | -29.9% |
| Profit (loss) for the period | 9904 | €15,025 | €16,988 | +€1,963 | +13.1% |
| Profit (loss) for the period to be appropriated | 9905 | €15,025 | €16,988 | +€1,963 | +13.1% |
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 7 October 2026 via checked.be.