TARGIT: 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.
TARGIT
Largest movements
- Receivables within one year +€470,117
up €470,117 (+238.8%), from €196,827 to €666,945
- Cash +€79,656
up €79,656 (+303.2%), from €26,271 to €105,927
mainly Other debts (+€217,297) and Trade debts (+€184,583)
- Deferred charges and accrued income -€34,378
down €34,378 (-30.6%), from €112,228 to €77,849
- Tangible fixed assets -€19,579
down €19,579 (-22.8%), from €85,757 to €66,178
- Other debts +€217,297
up €217,297 (+246.7%), from €88,098 to €305,395
- Trade debts +€184,583
up €184,583 (+46.8%), from €394,164 to €578,748
- Profit (loss) carried forward +€76,517
up €76,517, from -€12,853 to €63,664
- Tax, wage and social debts +€46,879
up €46,879 (+63.6%), from €73,746 to €120,625
of which Remuneration and social security: +€34,570
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Gross operating margin +€417,922
up €417,922 (+59.3%), from €704,427 to €1.1m
- Staff costs +€217,718
up €217,718 (+30.1%), from €723,199 to €940,916
- Depreciation +€28,565
up €28,565 (+44.1%), from €64,816 to €93,381
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 | €711,372 | €1,197,873 | +€486,501 | +68.4% |
| Fixed assets | 21/28 | €362,926 | €334,032 | -€28,894 | -8.0% |
| Intangible fixed assets | 21 | €277,169 | €267,854 | -€9,315 | -3.4% |
| Tangible fixed assets | 22/27 | €85,757 | €66,178 | -€19,579 | -22.8% |
| Plant, machinery and equipment | 23 | €11,113 | €6,228 | -€4,885 | -44.0% |
| Furniture and vehicles | 24 | €28,422 | €19,488 | -€8,934 | -31.4% |
| Other tangible fixed assets | 26 | €46,222 | €40,462 | -€5,760 | -12.5% |
| Current assets | 29/58 | €348,446 | €863,841 | +€515,395 | +147.9% |
| Stocks and contracts in progress | 3 | €13,120 | €13,120 | = | 0.0% |
| Stocks | 30/36 | €13,120 | €13,120 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €196,827 | €666,945 | +€470,117 | +238.8% |
| Trade receivables | 40 | €196,827 | €666,945 | +€470,117 | +238.8% |
| Cash at bank and in hand | 54/58 | €26,271 | €105,927 | +€79,656 | +303.2% |
| Deferred charges and accrued income | 490/1 | €112,228 | €77,849 | -€34,378 | -30.6% |
| Total equity and liabilities | 10/49 | €711,372 | €1,197,873 | +€486,501 | +68.4% |
| Equity | 10/15 | €69,647 | €146,164 | +€76,517 | +109.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,853 | €63,664 | +€76,517 | |
| Amounts payable | 17/49 | €641,725 | €1,051,709 | +€409,985 | +63.9% |
| Amounts payable after more than one year | 17 | €21,271 | €21,271 | = | 0.0% |
| Financial debts | 170/4 | €21,271 | €21,271 | = | 0.0% |
| Amounts payable within one year | 42/48 | €620,454 | €1,029,959 | +€409,505 | +66.0% |
| Current portion of amounts payable after more than one year | 42 | €39,446 | €25,192 | -€14,254 | -36.1% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Other loans | 439 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €394,164 | €578,748 | +€184,583 | +46.8% |
| Suppliers | 440/4 | €394,164 | €578,748 | +€184,583 | +46.8% |
| Taxes, remuneration and social security | 45 | €73,746 | €120,625 | +€46,879 | +63.6% |
| Taxes | 450/3 | €27,021 | €39,330 | +€12,309 | +45.6% |
| Remuneration and social security | 454/9 | €46,724 | €81,295 | +€34,570 | +74.0% |
| Other amounts payable | 47/48 | €88,098 | €305,395 | +€217,297 | +246.7% |
| Accrued charges and deferred income | 492/3 | - | €480 | +€480 | |
| Non-recurring operating income | 76A | €9,000 | €20,814 | +€11,814 | +131.3% |
| Remuneration, social security and pensions | 62 | €723,199 | €940,916 | +€217,718 | +30.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,816 | €93,381 | +€28,565 | +44.1% |
| Other operating charges | 640/8 | €852 | €1,954 | +€1,102 | +129.3% |
| Gross operating margin | 9900 | €704,427 | €1,122,348 | +€417,922 | +59.3% |
| Operating profit (loss) | 9901 | -€84,440 | €86,097 | +€170,537 | |
| Financial income | 75/76B | €81 | €115 | +€34 | +41.2% |
| Recurring financial income | 75 | €81 | €115 | +€34 | +41.2% |
| Financial charges | 65/66B | €7,275 | €5,709 | -€1,565 | -21.5% |
| Recurring financial charges | 65 | €7,275 | €5,709 | -€1,565 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | -€91,633 | €80,502 | +€172,136 | |
| Income taxes | 67/77 | €637 | €3,986 | +€3,349 | +525.6% |
| Profit (loss) for the period | 9904 | -€92,271 | €76,517 | +€168,787 | |
| Profit (loss) for the period to be appropriated | 9905 | -€92,271 | €76,517 | +€168,787 |
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 6 October 2026 via checked.be.