Tara McMahon: 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.
Tara McMahon
Largest movements
- Receivables within one year +€7,670
up €7,670, from €0 to €7,670
- Cash -€7,569
down €7,569 (-15.1%), from €49,986 to €42,417
mainly Contributions, distributions and other (-€46,391) and Investment in fixed assets (net) (-€11,535)
- Tangible fixed assets -€5,740
down €5,740 (-11.9%), from €48,058 to €42,318
of which Furniture and vehicles: -€6,744
- Deferred charges and accrued income -€3,353
down €3,353 (-35.6%), from €9,420 to €6,067
- Profit (loss) carried forward -€29,331
down €29,331 (-100%), from €29,331 to €0
- Other debts +€28,114
up €28,114 (+154%), from €18,277 to €46,391
- Debts after one year -€6,639
down €6,639 (-26.0%), from €25,493 to €18,854
- Tax, wage and social debts -€1,578
down €1,578 (-33.9%), from €4,652 to €3,074
of which Taxes: -€3,015
- Depreciation +€6,354
up €6,354 (+58.2%), from €10,921 to €17,275
- Gross operating margin -€3,634
down €3,634 (-7.4%), from €49,143 to €45,509
- Other operating charges -€2,202
down €2,202 (-58.8%), from €3,745 to €1,543
- Taxes -€1,137
down €1,137 (-11.6%), from €9,842 to €8,705
- Financial charges +€518
up €518 (+71.5%), from €725 to €1,243
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 | €107,463 | €98,472 | -€8,992 | -8.4% |
| Fixed assets | 21/28 | €48,058 | €42,318 | -€5,740 | -11.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €48,058 | €42,318 | -€5,740 | -11.9% |
| Plant, machinery and equipment | 23 | €1,869 | €2,874 | +€1,005 | +53.7% |
| Furniture and vehicles | 24 | €37,679 | €30,934 | -€6,744 | -17.9% |
| Other tangible fixed assets | 26 | €8,510 | €8,510 | = | 0.0% |
| Current assets | 29/58 | €59,405 | €56,154 | -€3,252 | -5.5% |
| Amounts receivable within one year | 40/41 | €0 | €7,670 | +€7,670 | |
| Other amounts receivable | 41 | €0 | €7,670 | +€7,670 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €49,986 | €42,417 | -€7,569 | -15.1% |
| Deferred charges and accrued income | 490/1 | €9,420 | €6,067 | -€3,353 | -35.6% |
| Total equity and liabilities | 10/49 | €107,463 | €98,472 | -€8,992 | -8.4% |
| Equity | 10/15 | €49,791 | €20,460 | -€29,331 | -58.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,331 | €0 | -€29,331 | -100% |
| Amounts payable | 17/49 | €57,673 | €78,012 | +€20,339 | +35.3% |
| Amounts payable after more than one year | 17 | €25,493 | €18,854 | -€6,639 | -26.0% |
| Financial debts | 170/4 | €25,493 | €18,854 | -€6,639 | -26.0% |
| Amounts payable within one year | 42/48 | €32,179 | €59,157 | +€26,978 | +83.8% |
| Current portion of amounts payable after more than one year | 42 | €6,416 | €6,639 | +€223 | +3.5% |
| Financial debts | 43 | €1,198 | €1,326 | +€128 | +10.7% |
| Credit institutions | 430/8 | €1,198 | €10 | -€1,188 | -99.2% |
| Other loans | 439 | - | €1,316 | +€1,316 | |
| Trade debts | 44 | €1,636 | €1,727 | +€91 | +5.6% |
| Suppliers | 440/4 | €1,636 | €1,727 | +€91 | +5.6% |
| Taxes, remuneration and social security | 45 | €4,652 | €3,074 | -€1,578 | -33.9% |
| Taxes | 450/3 | €4,652 | €1,637 | -€3,015 | -64.8% |
| Remuneration and social security | 454/9 | €0 | €1,437 | +€1,437 | |
| Other amounts payable | 47/48 | €18,277 | €46,391 | +€28,114 | +154% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,446 | €0 | -€2,446 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,921 | €17,275 | +€6,354 | +58.2% |
| Other operating charges | 640/8 | €3,745 | €1,543 | -€2,202 | -58.8% |
| Gross operating margin | 9900 | €49,143 | €45,509 | -€3,634 | -7.4% |
| Operating profit (loss) | 9901 | €34,476 | €26,691 | -€7,785 | -22.6% |
| Financial income | 75/76B | €23 | €318 | +€295 | +1,282% |
| Recurring financial income | 75 | €23 | €318 | +€295 | +1,282% |
| Financial charges | 65/66B | €725 | €1,243 | +€518 | +71.5% |
| Recurring financial charges | 65 | €725 | €1,243 | +€518 | +71.5% |
| Profit (loss) for the period before taxes | 9903 | €33,775 | €25,766 | -€8,009 | -23.7% |
| Income taxes | 67/77 | €9,842 | €8,705 | -€1,137 | -11.6% |
| Profit (loss) for the period | 9904 | €23,933 | €17,061 | -€6,872 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,933 | €17,061 | -€6,872 | -28.7% |
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 26 October 2026 via checked.be.