TARGERA: 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.
TARGERA
Largest movements
- Cash +€106,507
up €106,507 (+191.5%), from €55,628 to €162,134
mainly Net result for the year (+€126,248) and Tax, wage and social debts (+€5,556)
- Receivables within one year +€29,863
up €29,863 (+7709.7%), from €387 to €30,250
of which Trade receivables: +€29,863
- Profit (loss) carried forward +€126,248
up €126,248 (+38.0%), from -€332,368 to -€206,120
- Tax, wage and social debts +€5,556
up €5,556 (+24.7%), from €22,475 to €28,031
of which Taxes: +€5,502
- Other debts +€4,548
up €4,548 (+1.6%), from €282,908 to €287,456
- Gross operating margin +€94,654
up €94,654 (+295.5%), from €32,027 to €126,681
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 | €56,015 | €192,384 | +€136,369 | +243.5% |
| Current assets | 29/58 | €56,015 | €192,384 | +€136,369 | +243.5% |
| Amounts receivable within one year | 40/41 | €387 | €30,250 | +€29,863 | +7709.7% |
| Trade receivables | 40 | €387 | €30,250 | +€29,863 | +7709.7% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €55,628 | €162,134 | +€106,507 | +191.5% |
| Total equity and liabilities | 10/49 | €56,015 | €192,384 | +€136,369 | +243.5% |
| Equity | 10/15 | -€249,368 | -€123,120 | +€126,248 | +50.6% |
| Contributions | 10/11 | €83,000 | €83,000 | = | 0.0% |
| Capital | 10 | €83,000 | €83,000 | = | 0.0% |
| Issued capital | 100 | €83,000 | €83,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€332,368 | -€206,120 | +€126,248 | +38.0% |
| Amounts payable | 17/49 | €305,383 | €315,504 | +€10,121 | +3.3% |
| Amounts payable within one year | 42/48 | €305,383 | €315,504 | +€10,121 | +3.3% |
| Trade debts | 44 | €0 | €17 | +€17 | |
| Suppliers | 440/4 | €0 | €17 | +€17 | |
| Taxes, remuneration and social security | 45 | €22,475 | €28,031 | +€5,556 | +24.7% |
| Taxes | 450/3 | €15,721 | €21,223 | +€5,502 | +35.0% |
| Remuneration and social security | 454/9 | €6,755 | €6,808 | +€54 | +0.8% |
| Other amounts payable | 47/48 | €282,908 | €287,456 | +€4,548 | +1.6% |
| Other operating charges | 640/8 | €431 | €400 | -€32 | -7.3% |
| Gross operating margin | 9900 | €32,027 | €126,681 | +€94,654 | +295.5% |
| Operating profit (loss) | 9901 | €31,596 | €126,281 | +€94,685 | +299.7% |
| Financial charges | 65/66B | €53 | €33 | -€20 | -37.3% |
| Recurring financial charges | 65 | €53 | €33 | -€20 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €31,543 | €126,248 | +€94,705 | +300.2% |
| Profit (loss) for the period | 9904 | €31,543 | €126,248 | +€94,705 | +300.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,543 | €126,248 | +€94,705 | +300.2% |
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 1 October 2026 via checked.be.