TAVAC: 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.
TAVAC
Largest movements
- Tangible fixed assets +€138,089
up €138,089 (+60.6%), from €228,003 to €366,092
of which Land and buildings: +€117,232
- Receivables within one year +€107,540
up €107,540 (+3258.8%), from €3,300 to €110,840
of which Other amounts receivable: +€110,840
- Cash -€67,780
down €67,780 (-15.4%), from €441,468 to €373,688
mainly Investment in fixed assets (net) (-€174,367) and Receivables within one year (-€107,540)
- Reserves +€197,729
up €197,729 (+34.1%), from €580,181 to €777,910
of which Distributable reserves: +€197,729
- Other debts -€13,758
down €13,758 (-26.0%), from €52,954 to €39,196
- Trade debts -€13,248
down €13,248 (-94.6%), from €13,998 to €750
- Gross operating margin +€19,840
up €19,840 (+6.0%), from €332,996 to €352,836
- Staff costs +€8,461
up €8,461 (+51.1%), from €16,564 to €25,025
- Taxes +€7,517
up €7,517 (+8.6%), from €87,360 to €94,877
- Financial income +€4,054
up €4,054 (+822.3%), from €493 to €4,547
- Depreciation -€3,727
down €3,727 (-9.3%), from €40,005 to €36,278
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €684,599 | €863,396 | +€178,797 | +26.1% |
| Fixed assets | 21/28 | €230,028 | €368,117 | +€138,089 | +60.0% |
| Tangible fixed assets | 22/27 | €228,003 | €366,092 | +€138,089 | +60.6% |
| Land and buildings | 22 | €164,353 | €281,585 | +€117,232 | +71.3% |
| Plant, machinery and equipment | 23 | €568 | €0 | -€568 | -100.0% |
| Furniture and vehicles | 24 | €6,517 | €3,678 | -€2,839 | -43.6% |
| Other tangible fixed assets | 26 | €56,565 | €80,830 | +€24,265 | +42.9% |
| Financial fixed assets | 28 | €2,025 | €2,025 | = | 0.0% |
| Current assets | 29/58 | €454,571 | €495,279 | +€40,708 | +9.0% |
| Amounts receivable within one year | 40/41 | €3,300 | €110,840 | +€107,540 | +3258.8% |
| Trade receivables | 40 | €3,300 | - | -€3,300 | |
| Other amounts receivable | 41 | - | €110,840 | +€110,840 | |
| Current investments | 50/53 | €8,995 | €8,995 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €441,468 | €373,688 | -€67,780 | -15.4% |
| Deferred charges and accrued income | 490/1 | €808 | €1,755 | +€947 | +117.2% |
| Total equity and liabilities | 10/49 | €684,599 | €863,396 | +€178,797 | +26.1% |
| Equity | 10/15 | €592,381 | €790,110 | +€197,729 | +33.4% |
| Contributions | 10/11 | €12,200 | €12,200 | = | 0.0% |
| Capital | 10 | €12,200 | €12,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €580,181 | €777,910 | +€197,729 | +34.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €540,821 | €738,550 | +€197,729 | +36.6% |
| Amounts payable | 17/49 | €92,218 | €73,286 | -€18,932 | -20.5% |
| Amounts payable within one year | 42/48 | €92,218 | €73,286 | -€18,932 | -20.5% |
| Trade debts | 44 | €13,998 | €750 | -€13,248 | -94.6% |
| Suppliers | 440/4 | €13,998 | €750 | -€13,248 | -94.6% |
| Taxes, remuneration and social security | 45 | €25,266 | €33,341 | +€8,075 | +32.0% |
| Taxes | 450/3 | €22,416 | €29,454 | +€7,038 | +31.4% |
| Remuneration and social security | 454/9 | €2,850 | €3,887 | +€1,037 | +36.4% |
| Other amounts payable | 47/48 | €52,954 | €39,196 | -€13,758 | -26.0% |
| Remuneration, social security and pensions | 62 | €16,564 | €25,025 | +€8,461 | +51.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,005 | €36,278 | -€3,727 | -9.3% |
| Other operating charges | 640/8 | €3,143 | €2,965 | -€178 | -5.7% |
| Gross operating margin | 9900 | €332,996 | €352,836 | +€19,840 | +6.0% |
| Operating profit (loss) | 9901 | €273,284 | €288,568 | +€15,284 | +5.6% |
| Financial income | 75/76B | €493 | €4,547 | +€4,054 | +822.3% |
| Recurring financial income | 75 | €493 | €4,547 | +€4,054 | +822.3% |
| Financial charges | 65/66B | €497 | €509 | +€12 | +2.5% |
| Recurring financial charges | 65 | €497 | €509 | +€12 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €273,280 | €292,606 | +€19,326 | +7.1% |
| Income taxes | 67/77 | €87,360 | €94,877 | +€7,517 | +8.6% |
| Profit (loss) for the period | 9904 | €185,920 | €197,728 | +€11,808 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €185,920 | €197,728 | +€11,808 | +6.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.