TAVAR: 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.
TAVAR
Largest movements
- Cash +€95,874
up €95,874 (+194.2%), from €49,364 to €145,238
mainly Net result for the year (+€42,357) and Depreciation (+€35,552)
- Tangible fixed assets -€60,524
down €60,524 (-18.9%), from €320,539 to €260,015
of which Furniture and vehicles: -€33,332
- Receivables within one year -€22,011
down €22,011 (-19.2%), from €114,524 to €92,513
of which Trade receivables: -€27,794
- Stocks and contracts -€12,069
down €12,069 (-35.4%), from €34,104 to €22,035
- Other debts +€10,503
up €10,503 (+89.3%), from €11,766 to €22,269
- Gross operating margin -€191,546
down €191,546 (-59.6%), from €321,189 to €129,643
- Taxes -€48,593
down €48,593 (-70.1%), from €69,323 to €20,730
- Depreciation -€18,887
down €18,887 (-34.7%), from €54,440 to €35,552
- Staff costs -€18,361
down €18,361 (-41.7%), from €44,063 to €25,702
- Financial charges -€4,053
down €4,053 (-60.0%), from €6,753 to €2,700
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 | €526,730 | €524,106 | -€2,624 | -0.5% |
| Fixed assets | 21/28 | €320,539 | €260,015 | -€60,524 | -18.9% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €320,539 | €260,015 | -€60,524 | -18.9% |
| Land and buildings | 22 | €209,274 | €194,528 | -€14,746 | -7.0% |
| Plant, machinery and equipment | 23 | €53,978 | €41,533 | -€12,445 | -23.1% |
| Furniture and vehicles | 24 | €57,287 | €23,954 | -€33,332 | -58.2% |
| Current assets | 29/58 | €206,191 | €264,091 | +€57,900 | +28.1% |
| Stocks and contracts in progress | 3 | €34,104 | €22,035 | -€12,069 | -35.4% |
| Stocks | 30/36 | €34,104 | €22,035 | -€12,069 | -35.4% |
| Amounts receivable within one year | 40/41 | €114,524 | €92,513 | -€22,011 | -19.2% |
| Trade receivables | 40 | €110,916 | €83,123 | -€27,794 | -25.1% |
| Other amounts receivable | 41 | €3,607 | €9,391 | +€5,783 | +160.3% |
| Cash at bank and in hand | 54/58 | €49,364 | €145,238 | +€95,874 | +194.2% |
| Deferred charges and accrued income | 490/1 | €8,200 | €4,305 | -€3,895 | -47.5% |
| Total equity and liabilities | 10/49 | €526,730 | €524,106 | -€2,624 | -0.5% |
| Equity | 10/15 | €479,403 | €476,708 | -€2,695 | -0.6% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €460,653 | €457,958 | -€2,695 | -0.6% |
| Non-distributable reserves | 130/1 | €1,875 | €1,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €458,778 | €456,083 | -€2,695 | -0.6% |
| Amounts payable | 17/49 | €47,327 | €47,398 | +€71 | +0.2% |
| Amounts payable within one year | 42/48 | €43,492 | €46,263 | +€2,770 | +6.4% |
| Trade debts | 44 | €21,531 | €16,974 | -€4,557 | -21.2% |
| Suppliers | 440/4 | €21,531 | €16,974 | -€4,557 | -21.2% |
| Taxes, remuneration and social security | 45 | €10,194 | €7,019 | -€3,175 | -31.1% |
| Taxes | 450/3 | €6,282 | €3,370 | -€2,912 | -46.4% |
| Remuneration and social security | 454/9 | €3,913 | €3,650 | -€263 | -6.7% |
| Other amounts payable | 47/48 | €11,766 | €22,269 | +€10,503 | +89.3% |
| Accrued charges and deferred income | 492/3 | €3,835 | €1,136 | -€2,699 | -70.4% |
| Remuneration, social security and pensions | 62 | €44,063 | €25,702 | -€18,361 | -41.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,440 | €35,552 | -€18,887 | -34.7% |
| Other operating charges | 640/8 | €3,328 | €2,917 | -€412 | -12.4% |
| Non-recurring operating charges | 66A | €352 | - | -€352 | |
| Gross operating margin | 9900 | €321,189 | €129,643 | -€191,546 | -59.6% |
| Operating profit (loss) | 9901 | €219,005 | €65,472 | -€153,533 | -70.1% |
| Financial income | 75/76B | €1,517 | €316 | -€1,202 | -79.2% |
| Recurring financial income | 75 | €1,517 | €316 | -€1,202 | -79.2% |
| Financial charges | 65/66B | €6,753 | €2,700 | -€4,053 | -60.0% |
| Recurring financial charges | 65 | €6,753 | €2,700 | -€4,053 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | €213,769 | €63,088 | -€150,681 | -70.5% |
| Income taxes | 67/77 | €69,323 | €20,730 | -€48,593 | -70.1% |
| Profit (loss) for the period | 9904 | €144,445 | €42,357 | -€102,088 | -70.7% |
| Profit (loss) for the period to be appropriated | 9905 | €144,445 | €42,357 | -€102,088 | -70.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.