TASERAG: 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.
TASERAG
Largest movements
- Receivables within one year -€151,459
down €151,459 (-28.6%), from €529,136 to €377,677
of which Trade receivables: -€159,622
- Cash +€146,841
up €146,841 (+41.9%), from €350,726 to €497,567
mainly Depreciation (+€683,369) and Receivables within one year (+€151,459)
- Current investments +€120,000
up €120,000 (+300%), from €40,000 to €160,000
- Deferred charges and accrued income -€57,409
down €57,409 (-93.9%), from €61,144 to €3,735
- Trade debts -€125,260
down €125,260 (-97.4%), from €128,633 to €3,373
- Other debts +€98,038
up €98,038 (+10.5%), from €934,931 to €1.0m
- Current portion of long-term debt +€89,145
up €89,145 (+21.9%), from €407,835 to €496,980
- Reserves -€47,962
down €47,962 (-3.1%), from €1.6m to €1.5m
- Gross operating margin +€120,825
up €120,825 (+15.5%), from €779,240 to €900,065
- Financial income +€26,019
up €26,019 (+145%), from €17,981 to €44,001
- Taxes +€9,964
up €9,964 (+5,289%), from €188 to €10,153
- Staff costs +€9,767
up €9,767 (+10.8%), from €90,289 to €100,056
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 | €4,179,127 | €4,205,087 | +€25,960 | +0.6% |
| Fixed assets | 21/28 | €3,131,598 | €3,095,524 | -€36,074 | -1.2% |
| Tangible fixed assets | 22/27 | €3,131,487 | €3,095,413 | -€36,074 | -1.2% |
| Land and buildings | 22 | €72,413 | €51,952 | -€20,461 | -28.3% |
| Plant, machinery and equipment | 23 | €2,717,711 | €2,744,846 | +€27,135 | +1.0% |
| Furniture and vehicles | 24 | €341,362 | €298,614 | -€42,748 | -12.5% |
| Financial fixed assets | 28 | €111 | €111 | = | 0.0% |
| Current assets | 29/58 | €1,047,529 | €1,109,563 | +€62,034 | +5.9% |
| Stocks and contracts in progress | 3 | €66,523 | €70,584 | +€4,061 | +6.1% |
| Stocks | 30/36 | €66,523 | €70,584 | +€4,061 | +6.1% |
| Amounts receivable within one year | 40/41 | €529,136 | €377,677 | -€151,459 | -28.6% |
| Trade receivables | 40 | €497,931 | €338,309 | -€159,622 | -32.1% |
| Other amounts receivable | 41 | €31,206 | €39,368 | +€8,162 | +26.2% |
| Current investments | 50/53 | €40,000 | €160,000 | +€120,000 | +300% |
| Cash at bank and in hand | 54/58 | €350,726 | €497,567 | +€146,841 | +41.9% |
| Deferred charges and accrued income | 490/1 | €61,144 | €3,735 | -€57,409 | -93.9% |
| Total equity and liabilities | 10/49 | €4,179,127 | €4,205,087 | +€25,960 | +0.6% |
| Equity | 10/15 | €1,712,741 | €1,689,417 | -€23,324 | -1.4% |
| Contributions | 10/11 | €129,408 | €129,408 | = | 0.0% |
| Reserves | 13 | €1,551,705 | €1,503,743 | -€47,962 | -3.1% |
| Distributable reserves | 133 | €1,551,705 | €1,503,743 | -€47,962 | -3.1% |
| Investment grants | 15 | €31,628 | €56,266 | +€24,637 | +77.9% |
| Amounts payable | 17/49 | €2,466,386 | €2,515,670 | +€49,284 | +2.0% |
| Amounts payable after more than one year | 17 | €977,167 | €963,452 | -€13,715 | -1.4% |
| Financial debts | 170/4 | €970,476 | €963,452 | -€7,024 | -0.7% |
| Other amounts payable | 178/9 | €6,691 | - | -€6,691 | |
| Amounts payable within one year | 42/48 | €1,489,219 | €1,552,218 | +€62,999 | +4.2% |
| Current portion of amounts payable after more than one year | 42 | €407,835 | €496,980 | +€89,145 | +21.9% |
| Trade debts | 44 | €128,633 | €3,373 | -€125,260 | -97.4% |
| Suppliers | 440/4 | €128,633 | €3,373 | -€125,260 | -97.4% |
| Advances received on contracts in progress | 46 | - | €1,000 | +€1,000 | |
| Taxes, remuneration and social security | 45 | €17,821 | €17,897 | +€76 | +0.4% |
| Taxes | 450/3 | €9,430 | €8,497 | -€933 | -9.9% |
| Remuneration and social security | 454/9 | €8,391 | €9,400 | +€1,009 | +12.0% |
| Other amounts payable | 47/48 | €934,931 | €1,032,968 | +€98,038 | +10.5% |
| Remuneration, social security and pensions | 62 | €90,289 | €100,056 | +€9,767 | +10.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €681,565 | €683,369 | +€1,804 | +0.3% |
| Other operating charges | 640/8 | €16,564 | €18,161 | +€1,597 | +9.6% |
| Gross operating margin | 9900 | €779,240 | €900,065 | +€120,825 | +15.5% |
| Operating profit (loss) | 9901 | -€9,178 | €98,479 | +€107,657 | |
| Financial income | 75/76B | €17,981 | €44,001 | +€26,019 | +145% |
| Recurring financial income | 75 | €17,981 | €44,001 | +€26,019 | +145% |
| Financial charges | 65/66B | €46,898 | €50,289 | +€3,390 | +7.2% |
| Recurring financial charges | 65 | €46,898 | €50,289 | +€3,390 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | -€38,095 | €92,191 | +€130,286 | |
| Transfer from deferred taxes | 780 | €1,700 | - | -€1,700 | |
| Income taxes | 67/77 | €188 | €10,153 | +€9,964 | +5,289% |
| Profit (loss) for the period | 9904 | -€36,584 | €82,038 | +€118,622 | |
| Transfer from tax-exempt reserves | 789 | €3,301 | - | -€3,301 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,284 | €82,038 | +€115,322 |
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 19 October 2026 via checked.be.