Targa's: 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.
Targa's
Largest movements
- Receivables within one year -€1,102
no longer reported in 2025 (was €1,102)
- Cash +€831
up €831 (+32.5%), from €2,558 to €3,389
mainly Trade debts (+€2,226) and Current portion of long-term debt (+€1,405)
- Tangible fixed assets -€631
down €631 (-38.3%), from €1,647 to €1,015
of which Furniture and vehicles: -€400
- Stocks and contracts +€353
up €353 (+8.0%), from €4,443 to €4,796
- Tax, wage and social debts -€2,919
down €2,919 (-88.4%), from €3,301 to €382
- Trade debts +€2,226
up €2,226 (+380.1%), from €586 to €2,811
- Current portion of long-term debt +€1,405
new in 2025: €1,405
- Profit (loss) carried forward -€1,301
down €1,301 (-17.0%), from -€7,652 to -€8,953
- Gross operating margin +€1,270
up €1,270 (+99.2%), from -€1,280 to -€10
- Other operating charges +€444
up €444 (+376.3%), from €118 to €562
- Financial charges +€22
up €22 (+27.2%), from €79 to €101
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 | €9,750 | €9,257 | -€493 | -5.1% |
| Fixed assets | 21/28 | €1,647 | €1,015 | -€631 | -38.3% |
| Tangible fixed assets | 22/27 | €1,647 | €1,015 | -€631 | -38.3% |
| Plant, machinery and equipment | 23 | €626 | €395 | -€231 | -36.9% |
| Furniture and vehicles | 24 | €1,020 | €620 | -€400 | -39.2% |
| Current assets | 29/58 | €8,103 | €8,242 | +€139 | +1.7% |
| Stocks and contracts in progress | 3 | €4,443 | €4,796 | +€353 | +8.0% |
| Stocks | 30/36 | €4,443 | €4,796 | +€353 | +8.0% |
| Amounts receivable within one year | 40/41 | €1,102 | - | -€1,102 | |
| Other amounts receivable | 41 | €1,102 | - | -€1,102 | |
| Cash at bank and in hand | 54/58 | €2,558 | €3,389 | +€831 | +32.5% |
| Deferred charges and accrued income | 490/1 | - | €57 | +€57 | |
| Total equity and liabilities | 10/49 | €9,750 | €9,257 | -€493 | -5.1% |
| Equity | 10/15 | -€4,652 | -€5,953 | -€1,301 | -28.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,652 | -€8,953 | -€1,301 | -17.0% |
| Amounts payable | 17/49 | €14,401 | €15,210 | +€809 | +5.6% |
| Amounts payable within one year | 42/48 | €14,401 | €15,210 | +€809 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | - | €1,405 | +€1,405 | |
| Trade debts | 44 | €586 | €2,811 | +€2,226 | +380.1% |
| Suppliers | 440/4 | €586 | €2,811 | +€2,226 | +380.1% |
| Taxes, remuneration and social security | 45 | €3,301 | €382 | -€2,919 | -88.4% |
| Taxes | 450/3 | €3,301 | €382 | -€2,919 | -88.4% |
| Other amounts payable | 47/48 | €10,514 | €10,611 | +€96 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €631 | €631 | = | 0.0% |
| Other operating charges | 640/8 | €118 | €562 | +€444 | +376.3% |
| Gross operating margin | 9900 | -€1,280 | -€10 | +€1,270 | +99.2% |
| Operating profit (loss) | 9901 | -€2,030 | -€1,203 | +€826 | +40.7% |
| Financial income | 75/76B | €9 | €3 | -€6 | -64.7% |
| Recurring financial income | 75 | €9 | €3 | -€6 | -64.7% |
| Financial charges | 65/66B | €79 | €101 | +€22 | +27.2% |
| Recurring financial charges | 65 | €79 | €101 | +€22 | +27.2% |
| Profit (loss) for the period before taxes | 9903 | -€2,100 | -€1,301 | +€799 | +38.0% |
| Profit (loss) for the period | 9904 | -€2,100 | -€1,301 | +€799 | +38.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,100 | -€1,301 | +€799 | +38.0% |
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 11 October 2026 via checked.be.