TAVICO: 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.
TAVICO
Largest movements
- Cash +€58,293
up €58,293 (+81.0%), from €72,007 to €130,299
mainly Net result for the year (+€51,769) and Deferred charges and accrued income (+€4,430)
- Deferred charges and accrued income -€4,430
down €4,430 (-15.7%), from €28,163 to €23,733
- Tangible fixed assets -€3,383
down €3,383 (-40.5%), from €8,356 to €4,973
of which Furniture and vehicles: -€3,184
- Receivables within one year +€2,100
new in 2025: €2,100
of which Other amounts receivable: +€1,346
- Reserves +€51,769
up €51,769 (+50.5%), from €102,448 to €154,218
- Other debts +€2,197
up €2,197 (+23.0%), from €9,555 to €11,752
- Gross operating margin +€7,013
up €7,013 (+11.3%), from €62,283 to €69,296
- Taxes +€1,419
up €1,419 (+11.6%), from €12,241 to €13,660
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 | €119,526 | €172,106 | +€52,580 | +44.0% |
| Fixed assets | 21/28 | €8,356 | €4,973 | -€3,383 | -40.5% |
| Tangible fixed assets | 22/27 | €8,356 | €4,973 | -€3,383 | -40.5% |
| Plant, machinery and equipment | 23 | €762 | €563 | -€199 | -26.1% |
| Furniture and vehicles | 24 | €7,594 | €4,410 | -€3,184 | -41.9% |
| Current assets | 29/58 | €111,170 | €167,133 | +€55,962 | +50.3% |
| Amounts receivable within one year | 40/41 | - | €2,100 | +€2,100 | |
| Trade receivables | 40 | - | €754 | +€754 | |
| Other amounts receivable | 41 | - | €1,346 | +€1,346 | |
| Current investments | 50/53 | €11,000 | €11,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €72,007 | €130,299 | +€58,293 | +81.0% |
| Deferred charges and accrued income | 490/1 | €28,163 | €23,733 | -€4,430 | -15.7% |
| Total equity and liabilities | 10/49 | €119,526 | €172,106 | +€52,580 | +44.0% |
| Equity | 10/15 | €107,448 | €159,218 | +€51,769 | +48.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €102,448 | €154,218 | +€51,769 | +50.5% |
| Distributable reserves | 133 | €102,448 | €154,218 | +€51,769 | +50.5% |
| Amounts payable | 17/49 | €12,078 | €12,888 | +€810 | +6.7% |
| Amounts payable within one year | 42/48 | €12,078 | €12,888 | +€810 | +6.7% |
| Trade debts | 44 | €692 | €215 | -€477 | -68.9% |
| Suppliers | 440/4 | €692 | €215 | -€477 | -68.9% |
| Taxes, remuneration and social security | 45 | €1,830 | €921 | -€909 | -49.7% |
| Taxes | 450/3 | €1,830 | €921 | -€909 | -49.7% |
| Other amounts payable | 47/48 | €9,555 | €11,752 | +€2,197 | +23.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,383 | €3,383 | -€0 | 0.0% |
| Other operating charges | 640/8 | €412 | €503 | +€91 | +22.1% |
| Gross operating margin | 9900 | €62,283 | €69,296 | +€7,013 | +11.3% |
| Operating profit (loss) | 9901 | €58,488 | €65,410 | +€6,922 | +11.8% |
| Financial income | 75/76B | - | €202 | +€202 | |
| Recurring financial income | 75 | - | €202 | +€202 | |
| Financial charges | 65/66B | €149 | €184 | +€34 | +22.9% |
| Recurring financial charges | 65 | €149 | €184 | +€34 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €58,339 | €65,429 | +€7,090 | +12.2% |
| Income taxes | 67/77 | €12,241 | €13,660 | +€1,419 | +11.6% |
| Profit (loss) for the period | 9904 | €46,098 | €51,769 | +€5,671 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €46,098 | €51,769 | +€5,671 | +12.3% |
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 6 October 2026 via checked.be.