TARRAZU: 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.
TARRAZU
Largest movements
- Receivables after one year -€55,000
down €55,000 (-21.6%), from €255,000 to €200,000
of which Trade receivables: -€255,000
- Receivables within one year +€51,577
up €51,577 (+123.4%), from €41,792 to €93,369
of which Trade receivables: +€68,717
- Tax, wage and social debts -€88,416
down €88,416 (-87.5%), from €101,038 to €12,622
- Other debts +€72,850
up €72,850 (+172.7%), from €42,184 to €115,034
- Gross operating margin +€37,680
up €37,680 (+22.2%), from €169,433 to €207,113
- Financial income -€8,405
down €8,405 (-73.6%), from €11,423 to €3,018
- Taxes +€6,446
up €6,446 (+16.9%), from €38,214 to €44,659
- Financial charges +€3,621
up €3,621 (+24.8%), from €14,613 to €18,235
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 | €3,059,237 | €3,046,242 | -€12,996 | -0.4% |
| Fixed assets | 21/28 | €2,694,421 | €2,679,599 | -€14,822 | -0.6% |
| Tangible fixed assets | 22/27 | €35,280 | €20,458 | -€14,822 | -42.0% |
| Plant, machinery and equipment | 23 | €111 | €0 | -€111 | -100.0% |
| Furniture and vehicles | 24 | €35,169 | €20,458 | -€14,711 | -41.8% |
| Financial fixed assets | 28 | €2,659,141 | €2,659,141 | = | 0.0% |
| Current assets | 29/58 | €364,816 | €366,643 | +€1,826 | +0.5% |
| Amounts receivable after more than one year | 29 | €255,000 | €200,000 | -€55,000 | -21.6% |
| Trade receivables | 290 | €255,000 | €0 | -€255,000 | -100.0% |
| Other amounts receivable | 291 | €0 | €200,000 | +€200,000 | |
| Amounts receivable within one year | 40/41 | €41,792 | €93,369 | +€51,577 | +123.4% |
| Trade receivables | 40 | €20,000 | €88,717 | +€68,717 | +343.6% |
| Other amounts receivable | 41 | €21,792 | €4,652 | -€17,139 | -78.7% |
| Cash at bank and in hand | 54/58 | €58,275 | €69,567 | +€11,292 | +19.4% |
| Deferred charges and accrued income | 490/1 | €9,749 | €3,706 | -€6,043 | -62.0% |
| Total equity and liabilities | 10/49 | €3,059,237 | €3,046,242 | -€12,996 | -0.4% |
| Equity | 10/15 | €48,981 | €60,033 | +€11,052 | +22.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €43,981 | €52,867 | +€8,885 | +20.2% |
| Distributable reserves | 133 | €43,981 | €52,867 | +€8,885 | +20.2% |
| Profit (loss) carried forward | 14 | €0 | €2,167 | +€2,167 | |
| Amounts payable | 17/49 | €3,010,256 | €2,986,208 | -€24,047 | -0.8% |
| Amounts payable after more than one year | 17 | €2,841,650 | €2,841,650 | = | 0.0% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €2,841,650 | €2,841,650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €155,784 | €131,737 | -€24,047 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €9,387 | €0 | -€9,387 | -100.0% |
| Trade debts | 44 | €3,176 | €4,081 | +€905 | +28.5% |
| Suppliers | 440/4 | €3,176 | €4,081 | +€905 | +28.5% |
| Taxes, remuneration and social security | 45 | €101,038 | €12,622 | -€88,416 | -87.5% |
| Taxes | 450/3 | €101,038 | €12,622 | -€88,416 | -87.5% |
| Other amounts payable | 47/48 | €42,184 | €115,034 | +€72,850 | +172.7% |
| Accrued charges and deferred income | 492/3 | €12,822 | €12,822 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,935 | €14,822 | -€113 | -0.8% |
| Other operating charges | 640/8 | €1,545 | €1,378 | -€167 | -10.8% |
| Gross operating margin | 9900 | €169,433 | €207,113 | +€37,680 | +22.2% |
| Operating profit (loss) | 9901 | €152,953 | €190,913 | +€37,960 | +24.8% |
| Financial income | 75/76B | €11,423 | €3,018 | -€8,405 | -73.6% |
| Recurring financial income | 75 | €11,423 | €3,018 | -€8,405 | -73.6% |
| Financial charges | 65/66B | €14,613 | €18,235 | +€3,621 | +24.8% |
| Recurring financial charges | 65 | €14,613 | €18,235 | +€3,621 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €149,762 | €175,697 | +€25,934 | +17.3% |
| Income taxes | 67/77 | €38,214 | €44,659 | +€6,446 | +16.9% |
| Profit (loss) for the period | 9904 | €111,549 | €131,037 | +€19,489 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €111,549 | €131,037 | +€19,489 | +17.5% |
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 3 October 2026 via checked.be.