TARTAN: 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.
TARTAN
Largest movements
- Receivables within one year -€243,098
down €243,098 (-86.9%), from €279,711 to €36,613
of which Trade receivables: -€243,281
- Cash +€18,787
up €18,787 (+142.8%), from €13,159 to €31,946
mainly Receivables within one year (+€243,098) and Other debts (+€118,897)
- Trade debts -€199,688
down €199,688 (-76.3%), from €261,554 to €61,866
- Other debts +€118,897
up €118,897 (+80.0%), from €148,661 to €267,558
- Debts after one year -€91,288
down €91,288 (-8.3%), from €1.1m to €1.0m
- Reserves -€70,652
down €70,652 (-100.0%), from €70,652 to €0
- Staff costs +€14,256
up €14,256 (+17.8%), from €79,937 to €94,194
- Financial charges +€7,919
up €7,919 (+51.5%), from €15,380 to €23,299
- Depreciation -€6,201
down €6,201 (-8.3%), from €75,000 to €68,800
- Gross operating margin +€5,204
up €5,204 (+2.0%), from €262,377 to €267,581
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 | €1,712,079 | €1,472,205 | -€239,874 | -14.0% |
| Fixed assets | 21/28 | €1,406,294 | €1,388,432 | -€17,862 | -1.3% |
| Intangible fixed assets | 21 | €3,081 | €1,881 | -€1,200 | -38.9% |
| Tangible fixed assets | 22/27 | €1,402,538 | €1,386,551 | -€15,987 | -1.1% |
| Land and buildings | 22 | €1,227,393 | €1,234,473 | +€7,080 | +0.6% |
| Plant, machinery and equipment | 23 | €175,145 | €151,260 | -€23,886 | -13.6% |
| Furniture and vehicles | 24 | - | €818 | +€818 | |
| Financial fixed assets | 28 | €675 | €0 | -€675 | -100.0% |
| Current assets | 29/58 | €305,785 | €83,773 | -€222,012 | -72.6% |
| Stocks and contracts in progress | 3 | €11,524 | €12,727 | +€1,203 | +10.4% |
| Stocks | 30/36 | €11,524 | €12,727 | +€1,203 | +10.4% |
| Amounts receivable within one year | 40/41 | €279,711 | €36,613 | -€243,098 | -86.9% |
| Trade receivables | 40 | €275,111 | €31,830 | -€243,281 | -88.4% |
| Other amounts receivable | 41 | €4,600 | €4,783 | +€183 | +4.0% |
| Cash at bank and in hand | 54/58 | €13,159 | €31,946 | +€18,787 | +142.8% |
| Deferred charges and accrued income | 490/1 | €1,391 | €2,487 | +€1,096 | +78.8% |
| Total equity and liabilities | 10/49 | €1,712,079 | €1,472,205 | -€239,874 | -14.0% |
| Equity | 10/15 | €90,652 | €22,746 | -€67,906 | -74.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,746 | +€2,746 | |
| Reserves | 13 | €70,652 | €0 | -€70,652 | -100.0% |
| Distributable reserves | 133 | €70,652 | €0 | -€70,652 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,621,427 | €1,449,460 | -€171,968 | -10.6% |
| Amounts payable after more than one year | 17 | €1,098,620 | €1,007,332 | -€91,288 | -8.3% |
| Financial debts | 170/4 | €1,098,620 | €1,007,332 | -€91,288 | -8.3% |
| Amounts payable within one year | 42/48 | €517,594 | €436,322 | -€81,272 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €89,807 | €91,288 | +€1,482 | +1.6% |
| Financial debts | 43 | €5,833 | €5,000 | -€833 | -14.3% |
| Credit institutions | 430/8 | €5,833 | €5,000 | -€833 | -14.3% |
| Trade debts | 44 | €261,554 | €61,866 | -€199,688 | -76.3% |
| Suppliers | 440/4 | €261,554 | €61,866 | -€199,688 | -76.3% |
| Taxes, remuneration and social security | 45 | €11,739 | €10,609 | -€1,129 | -9.6% |
| Taxes | 450/3 | €8,383 | €2,868 | -€5,515 | -65.8% |
| Remuneration and social security | 454/9 | €3,355 | €7,741 | +€4,386 | +130.7% |
| Other amounts payable | 47/48 | €148,661 | €267,558 | +€118,897 | +80.0% |
| Accrued charges and deferred income | 492/3 | €5,213 | €5,806 | +€593 | +11.4% |
| Remuneration, social security and pensions | 62 | €79,937 | €94,194 | +€14,256 | +17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,000 | €68,800 | -€6,201 | -8.3% |
| Other operating charges | 640/8 | €6,177 | €7,452 | +€1,275 | +20.6% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €262,377 | €267,581 | +€5,204 | +2.0% |
| Operating profit (loss) | 9901 | €101,262 | €97,136 | -€4,126 | -4.1% |
| Financial income | 75/76B | €285 | €203 | -€82 | -28.8% |
| Recurring financial income | 75 | €285 | €203 | -€82 | -28.8% |
| Financial charges | 65/66B | €15,380 | €23,299 | +€7,919 | +51.5% |
| Recurring financial charges | 65 | €15,380 | €23,299 | +€7,919 | +51.5% |
| Profit (loss) for the period before taxes | 9903 | €86,167 | €74,040 | -€12,127 | -14.1% |
| Income taxes | 67/77 | €15,515 | €13,921 | -€1,595 | -10.3% |
| Profit (loss) for the period | 9904 | €70,652 | €60,119 | -€10,533 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,652 | €60,119 | -€10,533 | -14.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.