Tarcon: 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.
Tarcon
Largest movements
- Receivables within one year -€42,640
down €42,640 (-76.4%), from €55,779 to €13,139
of which Trade receivables: -€39,809
- Tangible fixed assets +€40,490
up €40,490 (+3.4%), from €1.2m to €1.2m
of which Land and buildings: +€63,874
- Cash -€29,280
down €29,280 (-58.3%), from €50,189 to €20,909
mainly Investment in fixed assets (net) (-€115,620) and Debts after one year (-€52,724)
- Trade debts +€65,488
up €65,488 (+398.9%), from €16,419 to €81,907
- Debts after one year -€52,724
down €52,724 (-9.6%), from €547,694 to €494,970
- Tax, wage and social debts -€22,336
down €22,336 (-59.0%), from €37,859 to €15,522
of which Taxes: -€20,388
- Profit (loss) carried forward -€21,785
down €21,785 (-5.3%), from €408,879 to €387,093
- Gross operating margin -€150,408
down €150,408 (-49.4%), from €304,173 to €153,765
- Staff costs -€31,268
down €31,268 (-27.5%), from €113,636 to €82,368
- Taxes -€24,014
down €24,014 (-99.3%), from €24,192 to €178
- Financial charges -€14,962
down €14,962 (-49.9%), from €30,002 to €15,040
of which Financial charges: -€11,962
- Depreciation +€6,429
up €6,429 (+9.4%), from €68,701 to €75,130
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 | €1,296,101 | €1,264,061 | -€32,040 | -2.5% |
| Fixed assets | 21/28 | €1,184,126 | €1,224,616 | +€40,490 | +3.4% |
| Tangible fixed assets | 22/27 | €1,183,374 | €1,223,864 | +€40,490 | +3.4% |
| Land and buildings | 22 | €1,126,399 | €1,190,273 | +€63,874 | +5.7% |
| Plant, machinery and equipment | 23 | €28,210 | €16,060 | -€12,150 | -43.1% |
| Furniture and vehicles | 24 | €3,883 | €2,200 | -€1,684 | -43.4% |
| Leasing and similar rights | 25 | €24,881 | €15,332 | -€9,550 | -38.4% |
| Financial fixed assets | 28 | €752 | €752 | = | 0.0% |
| Current assets | 29/58 | €111,975 | €39,445 | -€72,531 | -64.8% |
| Stocks and contracts in progress | 3 | €3,769 | €2,713 | -€1,056 | -28.0% |
| Stocks | 30/36 | €3,769 | €2,713 | -€1,056 | -28.0% |
| Amounts receivable within one year | 40/41 | €55,779 | €13,139 | -€42,640 | -76.4% |
| Trade receivables | 40 | €51,682 | €11,872 | -€39,809 | -77.0% |
| Other amounts receivable | 41 | €4,097 | €1,266 | -€2,831 | -69.1% |
| Cash at bank and in hand | 54/58 | €50,189 | €20,909 | -€29,280 | -58.3% |
| Deferred charges and accrued income | 490/1 | €2,239 | €2,684 | +€445 | +19.9% |
| Total equity and liabilities | 10/49 | €1,296,101 | €1,264,061 | -€32,040 | -2.5% |
| Equity | 10/15 | €469,934 | €448,148 | -€21,785 | -4.6% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €39,055 | €39,055 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,055 | €39,055 | = | 0.0% |
| Profit (loss) carried forward | 14 | €408,879 | €387,093 | -€21,785 | -5.3% |
| Amounts payable | 17/49 | €826,167 | €815,913 | -€10,255 | -1.2% |
| Amounts payable after more than one year | 17 | €547,694 | €494,970 | -€52,724 | -9.6% |
| Financial debts | 170/4 | €547,694 | €494,970 | -€52,724 | -9.6% |
| Amounts payable within one year | 42/48 | €278,473 | €320,942 | +€42,469 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €51,584 | €52,724 | +€1,140 | +2.2% |
| Trade debts | 44 | €16,419 | €81,907 | +€65,488 | +398.9% |
| Suppliers | 440/4 | €16,419 | €81,907 | +€65,488 | +398.9% |
| Taxes, remuneration and social security | 45 | €37,859 | €15,522 | -€22,336 | -59.0% |
| Taxes | 450/3 | €24,271 | €3,882 | -€20,388 | -84.0% |
| Remuneration and social security | 454/9 | €13,588 | €11,640 | -€1,948 | -14.3% |
| Other amounts payable | 47/48 | €172,611 | €170,789 | -€1,822 | -1.1% |
| Remuneration, social security and pensions | 62 | €113,636 | €82,368 | -€31,268 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,701 | €75,130 | +€6,429 | +9.4% |
| Other operating charges | 640/8 | €4,468 | €4,297 | -€171 | -3.8% |
| Gross operating margin | 9900 | €304,173 | €153,765 | -€150,408 | -49.4% |
| Operating profit (loss) | 9901 | €117,368 | -€8,030 | -€125,398 | |
| Financial income | 75/76B | €258 | €1,462 | +€1,204 | +466.2% |
| Recurring financial income | 75 | €258 | €1,462 | +€1,204 | +466.2% |
| Financial charges | 65/66B | €30,002 | €15,040 | -€14,962 | -49.9% |
| Recurring financial charges | 65 | €27,002 | €15,040 | -€11,962 | -44.3% |
| Non-recurring financial charges | 66B | €3,000 | - | -€3,000 | |
| Profit (loss) for the period before taxes | 9903 | €87,625 | -€21,607 | -€109,232 | |
| Income taxes | 67/77 | €24,192 | €178 | -€24,014 | -99.3% |
| Profit (loss) for the period | 9904 | €63,433 | -€21,785 | -€85,218 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,433 | -€21,785 | -€85,218 |
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 5 October 2026 via checked.be.