TARBAZ: 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.
TARBAZ
Largest movements
- Receivables within one year -€128,895
down €128,895 (-52.9%), from €243,598 to €114,703
of which Trade receivables: -€104,629
- Deferred charges and accrued income +€111,981
up €111,981 (+931%), from €12,025 to €124,006
- Stocks and contracts -€52,614
down €52,614 (-7.1%), from €738,321 to €685,707
- Tangible fixed assets -€16,151
down €16,151 (-33.9%), from €47,624 to €31,473
of which Plant, machinery and equipment: -€10,943
- Short-term financial debts +€125,000
new in 2025: €125,000
- Debts after one year -€102,994
down €102,994 (-25.2%), from €408,998 to €306,004
- Tax, wage and social debts -€40,199
down €40,199 (-62.6%), from €64,171 to €23,972
of which Taxes: -€34,345
- Current portion of long-term debt -€39,819
down €39,819 (-26.7%), from €148,900 to €109,081
- Trade debts -€19,387
down €19,387 (-5.2%), from €369,294 to €349,907
- Gross operating margin -€95,696
down €95,696 (-30.7%), from €311,243 to €215,547
- Taxes -€20,715
down €20,715 (-75.1%), from €27,572 to €6,857
- Financial charges -€13,623
down €13,623 (-38.3%), from €35,610 to €21,987
- Other operating charges -€13,198
down €13,198 (-37.4%), from €35,314 to €22,116
- Staff costs +€4,908
up €4,908 (+3.4%), from €142,345 to €147,253
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 | €1,410,149 | €1,333,756 | -€76,393 | -5.4% |
| Fixed assets | 21/28 | €385,267 | €369,115 | -€16,152 | -4.2% |
| Tangible fixed assets | 22/27 | €47,624 | €31,473 | -€16,151 | -33.9% |
| Plant, machinery and equipment | 23 | €34,885 | €23,942 | -€10,943 | -31.4% |
| Furniture and vehicles | 24 | €12,739 | €7,531 | -€5,208 | -40.9% |
| Financial fixed assets | 28 | €337,642 | €337,642 | -€0 | 0.0% |
| Current assets | 29/58 | €1,024,882 | €964,641 | -€60,241 | -5.9% |
| Stocks and contracts in progress | 3 | €738,321 | €685,707 | -€52,614 | -7.1% |
| Stocks | 30/36 | €738,321 | €685,707 | -€52,614 | -7.1% |
| Amounts receivable within one year | 40/41 | €243,598 | €114,703 | -€128,895 | -52.9% |
| Trade receivables | 40 | €176,363 | €71,734 | -€104,629 | -59.3% |
| Other amounts receivable | 41 | €67,235 | €42,969 | -€24,266 | -36.1% |
| Cash at bank and in hand | 54/58 | €30,939 | €40,225 | +€9,286 | +30.0% |
| Deferred charges and accrued income | 490/1 | €12,025 | €124,006 | +€111,981 | +931% |
| Total equity and liabilities | 10/49 | €1,410,149 | €1,333,756 | -€76,393 | -5.4% |
| Equity | 10/15 | €418,332 | €419,526 | +€1,195 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €399,732 | €400,926 | +€1,195 | +0.3% |
| Amounts payable | 17/49 | €991,817 | €914,230 | -€77,587 | -7.8% |
| Amounts payable after more than one year | 17 | €408,998 | €306,004 | -€102,994 | -25.2% |
| Financial debts | 170/4 | €408,998 | €306,004 | -€102,994 | -25.2% |
| Amounts payable within one year | 42/48 | €582,475 | €608,071 | +€25,596 | +4.4% |
| Current portion of amounts payable after more than one year | 42 | €148,900 | €109,081 | -€39,819 | -26.7% |
| Financial debts | 43 | - | €125,000 | +€125,000 | |
| Credit institutions | 430/8 | - | €125,000 | +€125,000 | |
| Trade debts | 44 | €369,294 | €349,907 | -€19,387 | -5.2% |
| Suppliers | 440/4 | €369,294 | €349,907 | -€19,387 | -5.2% |
| Taxes, remuneration and social security | 45 | €64,171 | €23,972 | -€40,199 | -62.6% |
| Taxes | 450/3 | €57,129 | €22,784 | -€34,345 | -60.1% |
| Remuneration and social security | 454/9 | €7,041 | €1,188 | -€5,853 | -83.1% |
| Other amounts payable | 47/48 | €111 | €111 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €344 | €155 | -€189 | -54.9% |
| Non-recurring operating income | 76A | €8,760 | - | -€8,760 | |
| Remuneration, social security and pensions | 62 | €142,345 | €147,253 | +€4,908 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,268 | €16,151 | +€2,883 | +21.7% |
| Other operating charges | 640/8 | €35,314 | €22,116 | -€13,198 | -37.4% |
| Gross operating margin | 9900 | €311,243 | €215,547 | -€95,696 | -30.7% |
| Operating profit (loss) | 9901 | €120,317 | €30,027 | -€90,290 | -75.0% |
| Financial income | 75/76B | €187 | €11 | -€176 | -94.1% |
| Recurring financial income | 75 | €187 | €11 | -€176 | -94.1% |
| Financial charges | 65/66B | €35,610 | €21,987 | -€13,623 | -38.3% |
| Recurring financial charges | 65 | €35,610 | €21,987 | -€13,623 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | €84,893 | €8,051 | -€76,842 | -90.5% |
| Income taxes | 67/77 | €27,572 | €6,857 | -€20,715 | -75.1% |
| Profit (loss) for the period | 9904 | €57,321 | €1,194 | -€56,127 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,321 | €1,194 | -€56,127 | -97.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.