TAS Development: 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.
TAS Development
Largest movements
- Stocks and contracts -€668,461
down €668,461 (-42.0%), from €1.6m to €923,876
- Tangible fixed assets -€260,071
down €260,071 (-67.1%), from €387,321 to €127,249
of which Land and buildings: -€249,719
- Cash -€192,930
down €192,930 (-72.8%), from €265,105 to €72,175
mainly Short-term financial debts (-€566,305) and Debts after one year (-€252,552)
- Receivables within one year +€57,423
up €57,423 (+93.7%), from €61,257 to €118,680
of which Trade receivables: +€64,170
- Short-term financial debts -€566,305
down €566,305 (-76.1%), from €744,000 to €177,695
- Debts after one year -€252,552
down €252,552 (-28.3%), from €892,852 to €640,300
- Profit (loss) carried forward -€177,566
down €177,566 (-55.6%), from €319,438 to €141,872
- Trade debts -€67,090
down €67,090 (-66.5%), from €100,945 to €33,855
- Accrued charges and deferred income +€26,250
up €26,250, from €0 to €26,250
- Gross operating margin -€231,200
down €231,200, from €151,649 to -€79,551
- Financial charges -€44,952
down €44,952 (-35.0%), from €128,595 to €83,643
- Depreciation -€7,152
down €7,152 (-38.8%), from €18,432 to €11,280
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.
Derived cash bridge
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 | €2,306,098 | €1,242,444 | -€1.1m | -46.1% |
| Fixed assets | 21/28 | €387,321 | €127,249 | -€260,071 | -67.1% |
| Tangible fixed assets | 22/27 | €387,321 | €127,249 | -€260,071 | -67.1% |
| Land and buildings | 22 | €268,976 | €19,257 | -€249,719 | -92.8% |
| Furniture and vehicles | 24 | €41,529 | €33,868 | -€7,661 | -18.4% |
| Other tangible fixed assets | 26 | €76,816 | €74,125 | -€2,691 | -3.5% |
| Current assets | 29/58 | €1,918,778 | €1,115,195 | -€803,583 | -41.9% |
| Stocks and contracts in progress | 3 | €1,592,337 | €923,876 | -€668,461 | -42.0% |
| Stocks | 30/36 | €1,592,337 | €923,876 | -€668,461 | -42.0% |
| Amounts receivable within one year | 40/41 | €61,257 | €118,680 | +€57,423 | +93.7% |
| Trade receivables | 40 | €9,510 | €73,680 | +€64,170 | +675% |
| Other amounts receivable | 41 | €51,748 | €45,000 | -€6,748 | -13.0% |
| Cash at bank and in hand | 54/58 | €265,105 | €72,175 | -€192,930 | -72.8% |
| Deferred charges and accrued income | 490/1 | €79 | €464 | +€385 | +487% |
| Total equity and liabilities | 10/49 | €2,306,098 | €1,242,444 | -€1.1m | -46.1% |
| Equity | 10/15 | €341,938 | €164,372 | -€177,566 | -51.9% |
| Contributions | 10/11 | €22,500 | €22,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €319,438 | €141,872 | -€177,566 | -55.6% |
| Amounts payable | 17/49 | €1,964,160 | €1,078,072 | -€886,088 | -45.1% |
| Amounts payable after more than one year | 17 | €892,852 | €640,300 | -€252,552 | -28.3% |
| Financial debts | 170/4 | €892,852 | €640,300 | -€252,552 | -28.3% |
| Amounts payable within one year | 42/48 | €1,071,309 | €411,523 | -€659,786 | -61.6% |
| Current portion of amounts payable after more than one year | 42 | €18,374 | €11,900 | -€6,474 | -35.2% |
| Financial debts | 43 | €744,000 | €177,695 | -€566,305 | -76.1% |
| Credit institutions | 430/8 | €744,000 | €177,695 | -€566,305 | -76.1% |
| Trade debts | 44 | €100,945 | €33,855 | -€67,090 | -66.5% |
| Suppliers | 440/4 | €100,945 | €33,855 | -€67,090 | -66.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €207,990 | €188,073 | -€19,917 | -9.6% |
| Accrued charges and deferred income | 492/3 | €0 | €26,250 | +€26,250 | |
| Non-recurring operating income | 76A | - | €16,622 | +€16,622 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,432 | €11,280 | -€7,152 | -38.8% |
| Other operating charges | 640/8 | €3,583 | €3,704 | +€122 | +3.4% |
| Gross operating margin | 9900 | €151,649 | -€79,551 | -€231,200 | |
| Operating profit (loss) | 9901 | €129,634 | -€94,534 | -€224,169 | |
| Financial income | 75/76B | €100 | €611 | +€511 | +511% |
| Recurring financial income | 75 | €100 | €611 | +€511 | +511% |
| Financial charges | 65/66B | €128,595 | €83,643 | -€44,952 | -35.0% |
| Recurring financial charges | 65 | €128,595 | €83,643 | -€44,952 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €1,140 | -€177,566 | -€178,706 | |
| Profit (loss) for the period | 9904 | €1,140 | -€177,566 | -€178,706 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,140 | -€177,566 | -€178,706 |
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 28 October 2026 via checked.be.