TAT: 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.
TAT
Largest movements
- Intangible fixed assets +€1.2m
up €1.2m (+10264.6%), from €11,667 to €1.2m
- Cash +€66,535
up €66,535 (+47.8%), from €139,253 to €205,788
mainly Debts after one year (+€837,280) and Trade debts (+€192,449)
- Tangible fixed assets -€23,630
down €23,630 (-6.7%), from €350,733 to €327,104
of which Other tangible fixed assets: -€27,373
- Debts after one year +€837,280
up €837,280 (+625.2%), from €133,927 to €971,207
- Trade debts +€192,449
up €192,449 (+73.4%), from €262,359 to €454,808
- Current portion of long-term debt +€135,984
up €135,984 (+310.1%), from €43,849 to €179,833
- Other debts +€103,887
up €103,887 (+71.6%), from €145,000 to €248,887
- Short-term financial debts -€22,808
down €22,808 (-49.9%), from €45,750 to €22,942
- Depreciation +€108,559
up €108,559 (+132.2%), from €82,129 to €190,688
- Gross operating margin +€83,375
up €83,375 (+10.7%), from €778,872 to €862,247
- Staff costs +€47,500
up €47,500 (+9.1%), from €523,181 to €570,681
- Financial income -€13,926
down €13,926 (-48.1%), from €28,944 to €15,018
- Financial charges +€13,184
up €13,184 (+144.2%), from €9,144 to €22,329
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 | €854,660 | €2,091,306 | +€1.2m | +144.7% |
| Fixed assets | 21/28 | €362,890 | €1,536,809 | +€1.2m | +323.5% |
| Intangible fixed assets | 21 | €11,667 | €1,209,215 | +€1.2m | +10264.6% |
| Tangible fixed assets | 22/27 | €350,733 | €327,104 | -€23,630 | -6.7% |
| Plant, machinery and equipment | 23 | €30,932 | €46,980 | +€16,048 | +51.9% |
| Furniture and vehicles | 24 | €122,887 | €110,583 | -€12,304 | -10.0% |
| Other tangible fixed assets | 26 | €196,914 | €169,541 | -€27,373 | -13.9% |
| Financial fixed assets | 28 | €490 | €490 | = | 0.0% |
| Current assets | 29/58 | €491,770 | €554,497 | +€62,728 | +12.8% |
| Amounts receivable within one year | 40/41 | €320,950 | €316,893 | -€4,057 | -1.3% |
| Trade receivables | 40 | €239,255 | €304,476 | +€65,221 | +27.3% |
| Other amounts receivable | 41 | €81,695 | €12,417 | -€69,278 | -84.8% |
| Cash at bank and in hand | 54/58 | €139,253 | €205,788 | +€66,535 | +47.8% |
| Deferred charges and accrued income | 490/1 | €31,567 | €31,817 | +€250 | +0.8% |
| Total equity and liabilities | 10/49 | €854,660 | €2,091,306 | +€1.2m | +144.7% |
| Equity | 10/15 | €155,438 | €153,989 | -€1,449 | -0.9% |
| Contributions | 10/11 | €38,516 | €38,516 | = | 0.0% |
| Reserves | 13 | €48,246 | €48,246 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,698 | €12,698 | = | 0.0% |
| Distributable reserves | 133 | €33,549 | €33,549 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,891 | €60,786 | +€895 | +1.5% |
| Investment grants | 15 | €8,784 | €6,441 | -€2,344 | -26.7% |
| Amounts payable | 17/49 | €699,222 | €1,937,317 | +€1.2m | +177.1% |
| Amounts payable after more than one year | 17 | €133,927 | €971,207 | +€837,280 | +625.2% |
| Financial debts | 170/4 | €133,927 | €971,207 | +€837,280 | +625.2% |
| Amounts payable within one year | 42/48 | €562,486 | €950,215 | +€387,729 | +68.9% |
| Current portion of amounts payable after more than one year | 42 | €43,849 | €179,833 | +€135,984 | +310.1% |
| Financial debts | 43 | €45,750 | €22,942 | -€22,808 | -49.9% |
| Credit institutions | 430/8 | €45,750 | €22,942 | -€22,808 | -49.9% |
| Trade debts | 44 | €262,359 | €454,808 | +€192,449 | +73.4% |
| Suppliers | 440/4 | €262,359 | €454,808 | +€192,449 | +73.4% |
| Taxes, remuneration and social security | 45 | €65,529 | €43,746 | -€21,782 | -33.2% |
| Taxes | 450/3 | €9,388 | €3,707 | -€5,681 | -60.5% |
| Remuneration and social security | 454/9 | €56,141 | €40,039 | -€16,102 | -28.7% |
| Other amounts payable | 47/48 | €145,000 | €248,887 | +€103,887 | +71.6% |
| Accrued charges and deferred income | 492/3 | €2,809 | €15,895 | +€13,086 | +465.8% |
| Remuneration, social security and pensions | 62 | €523,181 | €570,681 | +€47,500 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,129 | €190,688 | +€108,559 | +132.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,576 | €6,281 | -€296 | -4.5% |
| Other operating charges | 640/8 | €17,001 | €12,732 | -€4,269 | -25.1% |
| Gross operating margin | 9900 | €778,872 | €862,247 | +€83,375 | +10.7% |
| Operating profit (loss) | 9901 | €149,983 | €81,865 | -€68,118 | -45.4% |
| Financial income | 75/76B | €28,944 | €15,018 | -€13,926 | -48.1% |
| Recurring financial income | 75 | €28,944 | €15,018 | -€13,926 | -48.1% |
| Financial charges | 65/66B | €9,144 | €22,329 | +€13,184 | +144.2% |
| Recurring financial charges | 65 | €9,144 | €22,329 | +€13,184 | +144.2% |
| Profit (loss) for the period before taxes | 9903 | €169,783 | €74,555 | -€95,228 | -56.1% |
| Income taxes | 67/77 | €22,029 | €24,660 | +€2,631 | +11.9% |
| Profit (loss) for the period | 9904 | €147,754 | €49,895 | -€97,859 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €147,754 | €49,895 | -€97,859 | -66.2% |
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 8 October 2026 via checked.be.