TAVERNIER: 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.
TAVERNIER
Largest movements
- Current investments -€1.5m
down €1.5m (-22.5%), from €6.5m to €5.0m
- Cash +€1.0m
up €1.0m (+58.7%), from €1.8m to €2.8m
mainly Current investments (+€1.5m) and Depreciation (+€196,748)
- Tangible fixed assets -€196,748
down €196,748 (-6.9%), from €2.9m to €2.7m
of which Land and buildings: -€151,013
- Other debts -€514,166
down €514,166 (-99.7%), from €515,956 to €1,790
- Reserves +€127,686
up €127,686 (+1.5%), from €8.6m to €8.7m
of which Distributable reserves: +€137,095
- Provisions -€119,973
down €119,973 (-46.5%), from €258,135 to €138,162
- Gross operating margin -€5.1m
down €5.1m (-88.0%), from €5.8m to €694,660
- Taxes -€1.3m
down €1.3m (-89.8%), from €1.4m to €144,745
- Other operating charges +€212,344
up €212,344 (+123%), from €172,286 to €384,630
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 | €11,116,022 | €10,523,171 | -€592,851 | -5.3% |
| Fixed assets | 21/28 | €2,862,394 | €2,665,646 | -€196,748 | -6.9% |
| Tangible fixed assets | 22/27 | €2,862,394 | €2,665,646 | -€196,748 | -6.9% |
| Land and buildings | 22 | €2,641,900 | €2,490,887 | -€151,013 | -5.7% |
| Plant, machinery and equipment | 23 | €214,124 | €171,529 | -€42,595 | -19.9% |
| Furniture and vehicles | 24 | €6,370 | €3,230 | -€3,140 | -49.3% |
| Current assets | 29/58 | €8,253,629 | €7,857,526 | -€396,103 | -4.8% |
| Amounts receivable within one year | 40/41 | €559 | €40,684 | +€40,125 | +7,184% |
| Trade receivables | 40 | €369 | €1,402 | +€1,034 | +280% |
| Other amounts receivable | 41 | €190 | €39,281 | +€39,091 | +20,580% |
| Current investments | 50/53 | €6,450,000 | €5,000,000 | -€1.5m | -22.5% |
| Cash at bank and in hand | 54/58 | €1,774,043 | €2,814,724 | +€1.0m | +58.7% |
| Deferred charges and accrued income | 490/1 | €29,027 | €2,118 | -€26,909 | -92.7% |
| Total equity and liabilities | 10/49 | €11,116,022 | €10,523,171 | -€592,851 | -5.3% |
| Equity | 10/15 | €10,231,517 | €10,359,203 | +€127,686 | +1.2% |
| Contributions | 10/11 | €1,655,540 | €1,655,540 | = | 0.0% |
| Capital | 10 | €1,655,540 | €1,655,540 | = | 0.0% |
| Issued capital | 100 | €1,655,540 | €1,655,540 | = | 0.0% |
| Reserves | 13 | €8,575,977 | €8,703,663 | +€127,686 | +1.5% |
| Non-distributable reserves | 130/1 | €361,118 | €361,118 | = | 0.0% |
| Legal reserve | 130 | €165,554 | €165,554 | = | 0.0% |
| Other | 1319 | €195,564 | €195,564 | = | 0.0% |
| Tax-exempt reserves | 132 | €423,896 | €414,486 | -€9,409 | -2.2% |
| Distributable reserves | 133 | €7,790,964 | €7,928,059 | +€137,095 | +1.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €258,135 | €138,162 | -€119,973 | -46.5% |
| Deferred taxes | 168 | €258,135 | €138,162 | -€119,973 | -46.5% |
| Amounts payable | 17/49 | €626,370 | €25,807 | -€600,564 | -95.9% |
| Amounts payable within one year | 42/48 | €626,370 | €25,807 | -€600,564 | -95.9% |
| Trade debts | 44 | €46,824 | €12,649 | -€34,175 | -73.0% |
| Suppliers | 440/4 | €46,824 | €12,649 | -€34,175 | -73.0% |
| Advances received on contracts in progress | 46 | €2,275 | €2,130 | -€145 | -6.4% |
| Taxes, remuneration and social security | 45 | €61,316 | €9,238 | -€52,078 | -84.9% |
| Taxes | 450/3 | €61,316 | €9,238 | -€52,078 | -84.9% |
| Other amounts payable | 47/48 | €515,956 | €1,790 | -€514,166 | -99.7% |
| Non-recurring operating income | 76A | €5,244,204 | €50,000 | -€5.2m | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €219,248 | €196,748 | -€22,500 | -10.3% |
| Other operating charges | 640/8 | €172,286 | €384,630 | +€212,344 | +123% |
| Gross operating margin | 9900 | €5,780,630 | €694,660 | -€5.1m | -88.0% |
| Operating profit (loss) | 9901 | €5,389,096 | €113,283 | -€5.3m | -97.9% |
| Financial income | 75/76B | €16,718 | €39,599 | +€22,881 | +137% |
| Recurring financial income | 75 | €16,718 | €39,599 | +€22,881 | +137% |
| Financial charges | 65/66B | €358 | €424 | +€65 | +18.2% |
| Recurring financial charges | 65 | €358 | €424 | +€65 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | €5,405,455 | €152,458 | -€5.3m | -97.2% |
| Transfer from deferred taxes | 780 | €35,420 | €32,346 | -€3,074 | -8.7% |
| Income taxes | 67/77 | €1,425,585 | €144,745 | -€1.3m | -89.8% |
| Profit (loss) for the period | 9904 | €4,015,290 | €40,058 | -€4.0m | -99.0% |
| Transfer from tax-exempt reserves | 789 | €106,259 | €97,037 | -€9,223 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,121,550 | €137,095 | -€4.0m | -96.7% |
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.