TARAFA: 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.
TARAFA
Largest movements
- Cash -€37,259
down €37,259 (-18.0%), from €206,855 to €169,596
mainly Contributions, distributions and other (-€269,590) and Debts after one year (-€128,768)
- Tangible fixed assets -€22,303
down €22,303 (-3.0%), from €754,632 to €732,328
of which Plant, machinery and equipment: -€30,277
- Receivables within one year -€12,413
down €12,413 (-35.0%), from €35,467 to €23,054
of which Other amounts receivable: -€8,269
- Debts after one year -€128,768
down €128,768 (-26.0%), from €495,306 to €366,538
- Reserves +€83,438
up €83,438 (+42.2%), from €197,802 to €281,240
- Current portion of long-term debt -€41,115
down €41,115 (-44.8%), from €91,709 to €50,594
- Other debts +€10,000
up €10,000 (+33.3%), from €30,000 to €40,000
- Gross operating margin +€168,365
up €168,365 (+37.4%), from €450,610 to €618,975
- Taxes +€38,883
up €38,883 (+63.3%), from €61,384 to €100,267
- Staff costs +€7,244
up €7,244 (+9.6%), from €75,159 to €82,403
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 | €998,996 | €925,220 | -€73,776 | -7.4% |
| Fixed assets | 21/28 | €754,632 | €732,328 | -€22,303 | -3.0% |
| Tangible fixed assets | 22/27 | €754,632 | €732,328 | -€22,303 | -3.0% |
| Land and buildings | 22 | €558,379 | €568,136 | +€9,757 | +1.7% |
| Plant, machinery and equipment | 23 | €194,469 | €164,192 | -€30,277 | -15.6% |
| Furniture and vehicles | 24 | €1,784 | €0 | -€1,784 | -100.0% |
| Current assets | 29/58 | €244,364 | €192,891 | -€51,473 | -21.1% |
| Amounts receivable within one year | 40/41 | €35,467 | €23,054 | -€12,413 | -35.0% |
| Trade receivables | 40 | €14,851 | €10,708 | -€4,143 | -27.9% |
| Other amounts receivable | 41 | €20,616 | €12,346 | -€8,269 | -40.1% |
| Cash at bank and in hand | 54/58 | €206,855 | €169,596 | -€37,259 | -18.0% |
| Deferred charges and accrued income | 490/1 | €2,042 | €241 | -€1,801 | -88.2% |
| Total equity and liabilities | 10/49 | €998,996 | €925,220 | -€73,776 | -7.4% |
| Equity | 10/15 | €298,339 | €381,777 | +€83,438 | +28.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €197,802 | €281,240 | +€83,438 | +42.2% |
| Distributable reserves | 133 | €197,802 | €281,240 | +€83,438 | +42.2% |
| Profit (loss) carried forward | 14 | €81,937 | €81,937 | = | 0.0% |
| Amounts payable | 17/49 | €700,657 | €543,443 | -€157,214 | -22.4% |
| Amounts payable after more than one year | 17 | €495,306 | €366,538 | -€128,768 | -26.0% |
| Financial debts | 170/4 | €495,306 | €366,538 | -€128,768 | -26.0% |
| Amounts payable within one year | 42/48 | €204,466 | €176,905 | -€27,562 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €91,709 | €50,594 | -€41,115 | -44.8% |
| Trade debts | 44 | €48,549 | €53,281 | +€4,732 | +9.7% |
| Suppliers | 440/4 | €48,549 | €53,281 | +€4,732 | +9.7% |
| Taxes, remuneration and social security | 45 | €34,208 | €33,030 | -€1,178 | -3.4% |
| Taxes | 450/3 | €18,000 | €23,599 | +€5,599 | +31.1% |
| Remuneration and social security | 454/9 | €16,208 | €9,431 | -€6,777 | -41.8% |
| Other amounts payable | 47/48 | €30,000 | €40,000 | +€10,000 | +33.3% |
| Accrued charges and deferred income | 492/3 | €884 | - | -€884 | |
| Remuneration, social security and pensions | 62 | €75,159 | €82,403 | +€7,244 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,725 | €71,463 | -€263 | -0.4% |
| Other operating charges | 640/8 | €2,270 | €2,050 | -€220 | -9.7% |
| Gross operating margin | 9900 | €450,610 | €618,975 | +€168,365 | +37.4% |
| Operating profit (loss) | 9901 | €301,457 | €463,060 | +€161,603 | +53.6% |
| Financial income | 75/76B | €793 | €335 | -€458 | -57.7% |
| Recurring financial income | 75 | €793 | €335 | -€458 | -57.7% |
| Financial charges | 65/66B | €8,929 | €10,100 | +€1,172 | +13.1% |
| Recurring financial charges | 65 | €8,929 | €10,100 | +€1,172 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €293,321 | €453,295 | +€159,974 | +54.5% |
| Income taxes | 67/77 | €61,384 | €100,267 | +€38,883 | +63.3% |
| Profit (loss) for the period | 9904 | €231,937 | €353,028 | +€121,091 | +52.2% |
| Profit (loss) for the period to be appropriated | 9905 | €231,937 | €353,028 | +€121,091 | +52.2% |
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.