TAURO: 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.
TAURO
Largest movements
- Tangible fixed assets -€89,425
down €89,425 (-7.5%), from €1.2m to €1.1m
of which Land and buildings: -€85,459
- Cash +€61,575
up €61,575 (+201.0%), from €30,629 to €92,203
mainly Other debts (+€176,597) and Depreciation (+€110,916)
- Current investments -€21,070
no longer reported in 2025 (was €21,070)
- Reserves -€204,148
down €204,148 (-58.8%), from €347,243 to €143,094
of which Distributable reserves: -€201,395
- Other debts +€176,597
up €176,597 (+953.0%), from €18,531 to €195,127
- Debts after one year -€25,755
down €25,755 (-10.2%), from €252,134 to €226,379
of which Financial debts: -€48,852
- Current portion of long-term debt -€19,478
down €19,478 (-28.5%), from €68,329 to €48,852
- Gross operating margin -€14,522
down €14,522 (-10.2%), from €143,015 to €128,492
- Taxes -€4,258
down €4,258 (-78.8%), from €5,403 to €1,145
- Depreciation -€2,193
down €2,193 (-1.9%), from €113,109 to €110,916
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 | €1,584,724 | €1,532,833 | -€51,891 | -3.3% |
| Fixed assets | 21/28 | €1,185,163 | €1,095,737 | -€89,425 | -7.5% |
| Tangible fixed assets | 22/27 | €1,185,163 | €1,095,737 | -€89,425 | -7.5% |
| Land and buildings | 22 | €1,176,954 | €1,091,495 | -€85,459 | -7.3% |
| Plant, machinery and equipment | 23 | €2,642 | €2,082 | -€561 | -21.2% |
| Furniture and vehicles | 24 | €5,567 | €2,160 | -€3,406 | -61.2% |
| Current assets | 29/58 | €399,561 | €437,095 | +€37,534 | +9.4% |
| Amounts receivable within one year | 40/41 | €343,739 | €340,939 | -€2,800 | -0.8% |
| Trade receivables | 40 | - | €1,995 | +€1,995 | |
| Other amounts receivable | 41 | €343,739 | €338,943 | -€4,796 | -1.4% |
| Current investments | 50/53 | €21,070 | - | -€21,070 | |
| Cash at bank and in hand | 54/58 | €30,629 | €92,203 | +€61,575 | +201.0% |
| Deferred charges and accrued income | 490/1 | €4,124 | €3,954 | -€170 | -4.1% |
| Total equity and liabilities | 10/49 | €1,584,724 | €1,532,833 | -€51,891 | -3.3% |
| Equity | 10/15 | €1,210,243 | €1,006,094 | -€204,148 | -16.9% |
| Contributions | 10/11 | €863,000 | €863,000 | = | 0.0% |
| Capital | 10 | €863,000 | €863,000 | = | 0.0% |
| Issued capital | 100 | €863,000 | €863,000 | = | 0.0% |
| Reserves | 13 | €347,243 | €143,094 | -€204,148 | -58.8% |
| Non-distributable reserves | 130/1 | €29,704 | €29,787 | +€83 | +0.3% |
| Legal reserve | 130 | €29,704 | €29,787 | +€83 | +0.3% |
| Tax-exempt reserves | 132 | €94,694 | €91,859 | -€2,836 | -3.0% |
| Distributable reserves | 133 | €222,844 | €21,449 | -€201,395 | -90.4% |
| Provisions and deferred taxes | 16 | €20,740 | €19,444 | -€1,296 | -6.2% |
| Deferred taxes | 168 | €20,740 | €19,444 | -€1,296 | -6.2% |
| Amounts payable | 17/49 | €353,741 | €507,294 | +€153,553 | +43.4% |
| Amounts payable after more than one year | 17 | €252,134 | €226,379 | -€25,755 | -10.2% |
| Financial debts | 170/4 | €70,060 | €21,208 | -€48,852 | -69.7% |
| Other amounts payable | 178/9 | €182,074 | €205,171 | +€23,096 | +12.7% |
| Amounts payable within one year | 42/48 | €86,860 | €265,548 | +€178,688 | +205.7% |
| Current portion of amounts payable after more than one year | 42 | €68,329 | €48,852 | -€19,478 | -28.5% |
| Trade debts | 44 | - | €8,659 | +€8,659 | |
| Suppliers | 440/4 | - | €8,659 | +€8,659 | |
| Taxes, remuneration and social security | 45 | - | €12,911 | +€12,911 | |
| Taxes | 450/3 | - | €12,911 | +€12,911 | |
| Other amounts payable | 47/48 | €18,531 | €195,127 | +€176,597 | +953.0% |
| Accrued charges and deferred income | 492/3 | €14,747 | €15,367 | +€620 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €113,109 | €110,916 | -€2,193 | -1.9% |
| Other operating charges | 640/8 | €11,698 | €12,611 | +€913 | +7.8% |
| Gross operating margin | 9900 | €143,015 | €128,492 | -€14,522 | -10.2% |
| Operating profit (loss) | 9901 | €18,207 | €4,965 | -€13,242 | -72.7% |
| Financial income | 75/76B | €9,261 | €9,346 | +€85 | +0.9% |
| Recurring financial income | 75 | €9,261 | €9,346 | +€85 | +0.9% |
| Financial charges | 65/66B | €16,613 | €15,644 | -€969 | -5.8% |
| Recurring financial charges | 65 | €16,613 | €15,644 | -€969 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €10,854 | -€1,334 | -€12,188 | |
| Transfer from deferred taxes | 780 | €1,299 | €1,296 | -€3 | -0.2% |
| Income taxes | 67/77 | €5,403 | €1,145 | -€4,258 | -78.8% |
| Profit (loss) for the period | 9904 | €6,750 | -€1,183 | -€7,933 | |
| Transfer from tax-exempt reserves | 789 | €2,842 | €2,836 | -€6 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,592 | €1,653 | -€7,939 | -82.8% |
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 5 October 2026 via checked.be.