Tar-Palantír: 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.
Tar-Palantír
Largest movements
- Current investments +€189,214
new in 2025: €189,214
- Cash -€158,122
down €158,122 (-82.6%), from €191,391 to €33,269
mainly Current investments (-€189,214) and Tax, wage and social debts (-€15,467)
- Receivables within one year +€12,718
up €12,718 (+538%), from €2,366 to €15,084
of which Trade receivables: +€10,000
- Deferred charges and accrued income -€3,808
down €3,808 (-70.8%), from €5,379 to €1,571
- Reserves +€57,961
up €57,961 (+22.7%), from €254,799 to €312,760
- Tax, wage and social debts -€15,467
down €15,467 (-89.1%), from €17,351 to €1,884
- Gross operating margin -€11,942
down €11,942 (-14.6%), from €81,592 to €69,650
- Taxes -€2,137
down €2,137 (-12.0%), from €17,831 to €15,693
- Financial income +€1,948
up €1,948 (+32.9%), from €5,923 to €7,871
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 | €306,725 | €345,724 | +€38,999 | +12.7% |
| Fixed assets | 21/28 | €2,590 | €1,586 | -€1,003 | -38.8% |
| Intangible fixed assets | 21 | €806 | €217 | -€589 | -73.1% |
| Tangible fixed assets | 22/27 | €1,783 | €1,369 | -€414 | -23.2% |
| Furniture and vehicles | 24 | €111 | €0 | -€111 | -100% |
| Other tangible fixed assets | 26 | €1,673 | €1,369 | -€304 | -18.2% |
| Current assets | 29/58 | €304,136 | €344,138 | +€40,002 | +13.2% |
| Amounts receivable after more than one year | 29 | €105,000 | €105,000 | = | 0.0% |
| Other amounts receivable | 291 | €105,000 | €105,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,366 | €15,084 | +€12,718 | +538% |
| Trade receivables | 40 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | €2,366 | €5,084 | +€2,718 | +115% |
| Current investments | 50/53 | - | €189,214 | +€189,214 | |
| Cash at bank and in hand | 54/58 | €191,391 | €33,269 | -€158,122 | -82.6% |
| Deferred charges and accrued income | 490/1 | €5,379 | €1,571 | -€3,808 | -70.8% |
| Total equity and liabilities | 10/49 | €306,725 | €345,724 | +€38,999 | +12.7% |
| Equity | 10/15 | €273,349 | €331,310 | +€57,961 | +21.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €254,799 | €312,760 | +€57,961 | +22.7% |
| Distributable reserves | 133 | €254,799 | €312,760 | +€57,961 | +22.7% |
| Amounts payable | 17/49 | €33,376 | €14,414 | -€18,963 | -56.8% |
| Amounts payable within one year | 42/48 | €33,226 | €14,414 | -€18,813 | -56.6% |
| Current portion of amounts payable after more than one year | 42 | €10,992 | €8,426 | -€2,566 | -23.3% |
| Trade debts | 44 | €4,237 | €1,060 | -€3,177 | -75.0% |
| Suppliers | 440/4 | €4,237 | €1,060 | -€3,177 | -75.0% |
| Taxes, remuneration and social security | 45 | €17,351 | €1,884 | -€15,467 | -89.1% |
| Taxes | 450/3 | €17,351 | €1,884 | -€15,467 | -89.1% |
| Other amounts payable | 47/48 | €647 | €3,044 | +€2,397 | +371% |
| Accrued charges and deferred income | 492/3 | €150 | €0 | -€150 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,193 | €1,003 | -€189 | -15.9% |
| Other operating charges | 640/8 | €1,682 | €1,544 | -€138 | -8.2% |
| Gross operating margin | 9900 | €81,592 | €69,650 | -€11,942 | -14.6% |
| Operating profit (loss) | 9901 | €78,717 | €67,102 | -€11,615 | -14.8% |
| Financial income | 75/76B | €5,923 | €7,871 | +€1,948 | +32.9% |
| Recurring financial income | 75 | €5,923 | €7,871 | +€1,948 | +32.9% |
| Financial charges | 65/66B | €695 | €1,318 | +€624 | +89.7% |
| Recurring financial charges | 65 | €695 | €1,318 | +€624 | +89.7% |
| Profit (loss) for the period before taxes | 9903 | €83,945 | €73,655 | -€10,291 | -12.3% |
| Income taxes | 67/77 | €17,831 | €15,693 | -€2,137 | -12.0% |
| Profit (loss) for the period | 9904 | €66,115 | €57,961 | -€8,153 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €66,115 | €57,961 | -€8,153 | -12.3% |
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 1 November 2026 via checked.be.