TARBO: 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.
TARBO
Largest movements
- Cash +€32,905
up €32,905 (+71.3%), from €46,175 to €79,079
mainly Net result for the year (+€29,879) and Depreciation (+€22,238)
- Tangible fixed assets -€15,552
down €15,552 (-15.4%), from €100,890 to €85,338
- Receivables within one year -€6,059
down €6,059 (-92.3%), from €6,567 to €508
- Intangible fixed assets -€5,440
down €5,440 (-25.1%), from €21,706 to €16,266
- Deferred charges and accrued income +€3,738
new in 2025: €3,738
- Profit (loss) carried forward +€29,879
up €29,879 (+44.3%), from -€67,408 to -€37,529
- Other debts -€26,003
down €26,003 (-31.2%), from €83,385 to €57,382
- Tax, wage and social debts +€18,147
up €18,147 (+108.8%), from €16,674 to €34,821
of which Remuneration and social security: +€16,759
- Debts after one year -€11,749
down €11,749 (-18.6%), from €63,219 to €51,471
- Trade debts +€3,539
up €3,539 (+119.6%), from €2,960 to €6,499
- Gross operating margin +€213,885
up €213,885 (+7393.0%), from €2,893 to €216,778
- Staff costs +€112,813
up €112,813 (+225.1%), from €50,127 to €162,939
- Depreciation +€5,152
up €5,152 (+30.2%), from €17,086 to €22,238
- Financial income +€4,032
up €4,032 (+1345.4%), from €300 to €4,331
- Financial charges +€2,409
up €2,409 (+121.1%), from €1,989 to €4,399
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 | €184,570 | €194,854 | +€10,284 | +5.6% |
| Fixed assets | 21/28 | €128,897 | €107,904 | -€20,992 | -16.3% |
| Intangible fixed assets | 21 | €21,706 | €16,266 | -€5,440 | -25.1% |
| Tangible fixed assets | 22/27 | €100,890 | €85,338 | -€15,552 | -15.4% |
| Plant, machinery and equipment | 23 | €24,415 | €18,466 | -€5,948 | -24.4% |
| Furniture and vehicles | 24 | €7,401 | €4,775 | -€2,626 | -35.5% |
| Other tangible fixed assets | 26 | €69,075 | €62,097 | -€6,978 | -10.1% |
| Financial fixed assets | 28 | €6,300 | €6,300 | = | 0.0% |
| Current assets | 29/58 | €55,673 | €86,949 | +€31,276 | +56.2% |
| Stocks and contracts in progress | 3 | €2,931 | €3,624 | +€693 | +23.6% |
| Stocks | 30/36 | €2,931 | €3,624 | +€693 | +23.6% |
| Amounts receivable within one year | 40/41 | €6,567 | €508 | -€6,059 | -92.3% |
| Trade receivables | 40 | €6,567 | €508 | -€6,059 | -92.3% |
| Cash at bank and in hand | 54/58 | €46,175 | €79,079 | +€32,905 | +71.3% |
| Deferred charges and accrued income | 490/1 | - | €3,738 | +€3,738 | |
| Total equity and liabilities | 10/49 | €184,570 | €194,854 | +€10,284 | +5.6% |
| Equity | 10/15 | €4,696 | €32,099 | +€27,403 | +583.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Contributions outside capital | 11 | €60,000 | €60,000 | = | 0.0% |
| Share premium | 1100/10 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,408 | -€37,529 | +€29,879 | +44.3% |
| Investment grants | 15 | €12,104 | €9,628 | -€2,476 | -20.5% |
| Amounts payable | 17/49 | €179,873 | €162,754 | -€17,119 | -9.5% |
| Amounts payable after more than one year | 17 | €63,219 | €51,471 | -€11,749 | -18.6% |
| Financial debts | 170/4 | €63,219 | €51,471 | -€11,749 | -18.6% |
| Amounts payable within one year | 42/48 | €114,315 | €110,450 | -€3,864 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €11,296 | €11,749 | +€453 | +4.0% |
| Trade debts | 44 | €2,960 | €6,499 | +€3,539 | +119.6% |
| Suppliers | 440/4 | €2,960 | €6,499 | +€3,539 | +119.6% |
| Taxes, remuneration and social security | 45 | €16,674 | €34,821 | +€18,147 | +108.8% |
| Taxes | 450/3 | €12,743 | €14,131 | +€1,388 | +10.9% |
| Remuneration and social security | 454/9 | €3,930 | €20,689 | +€16,759 | +426.4% |
| Other amounts payable | 47/48 | €83,385 | €57,382 | -€26,003 | -31.2% |
| Accrued charges and deferred income | 492/3 | €2,339 | €833 | -€1,506 | -64.4% |
| Remuneration, social security and pensions | 62 | €50,127 | €162,939 | +€112,813 | +225.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,086 | €22,238 | +€5,152 | +30.2% |
| Other operating charges | 640/8 | €1,398 | €1,653 | +€255 | +18.2% |
| Gross operating margin | 9900 | €2,893 | €216,778 | +€213,885 | +7393.0% |
| Operating profit (loss) | 9901 | -€65,718 | €29,947 | +€95,665 | |
| Financial income | 75/76B | €300 | €4,331 | +€4,032 | +1345.4% |
| Recurring financial income | 75 | €300 | €4,331 | +€4,032 | +1345.4% |
| Financial charges | 65/66B | €1,989 | €4,399 | +€2,409 | +121.1% |
| Recurring financial charges | 65 | €1,989 | €4,399 | +€2,409 | +121.1% |
| Profit (loss) for the period before taxes | 9903 | -€67,408 | €29,879 | +€97,287 | |
| Profit (loss) for the period | 9904 | -€67,408 | €29,879 | +€97,287 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,408 | €29,879 | +€97,287 |
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 9 October 2026 via checked.be.