TAWADA: 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.
TAWADA
Largest movements
- Stocks and contracts +€18,500
up €18,500 (+129%), from €14,356 to €32,856
- Cash -€11,024
down €11,024 (-62.8%), from €17,540 to €6,516
mainly Stocks and contracts (-€18,500) and Deferred charges and accrued income (-€716)
- Tangible fixed assets -€1,992
down €1,992 (-15.3%), from €13,039 to €11,047
of which Furniture and vehicles: -€1,275
- Receivables within one year -€835
down €835 (-5.2%), from €16,115 to €15,279
of which Trade receivables: -€15,000
- Deferred charges and accrued income +€716
up €716 (+59.0%), from €1,213 to €1,929
- Trade debts +€3,316
up €3,316 (+11.2%), from €29,689 to €33,005
- Profit (loss) carried forward +€2,832
up €2,832 (+10.7%), from €26,426 to €29,258
- Gross operating margin -€5,858
down €5,858 (-24.4%), from €24,016 to €18,158
- Depreciation -€2,700
down €2,700 (-57.6%), from €4,692 to €1,992
- Staff costs +€2,480
up €2,480 (+23.6%), from €10,504 to €12,984
- Taxes +€2,134
up €2,134 (+162%), from €1,318 to €3,452
- Financial charges -€504
down €504 (-13.6%), from -€3,711 to -€4,216
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 | €62,263 | €67,628 | +€5,365 | +8.6% |
| Fixed assets | 21/28 | €13,039 | €11,047 | -€1,992 | -15.3% |
| Tangible fixed assets | 22/27 | €13,039 | €11,047 | -€1,992 | -15.3% |
| Furniture and vehicles | 24 | €4,675 | €3,400 | -€1,275 | -27.3% |
| Other tangible fixed assets | 26 | €8,364 | €7,647 | -€717 | -8.6% |
| Current assets | 29/58 | €49,224 | €56,581 | +€7,357 | +14.9% |
| Stocks and contracts in progress | 3 | €14,356 | €32,856 | +€18,500 | +129% |
| Stocks | 30/36 | €14,356 | €32,856 | +€18,500 | +129% |
| Amounts receivable within one year | 40/41 | €16,115 | €15,279 | -€835 | -5.2% |
| Trade receivables | 40 | €15,000 | - | -€15,000 | |
| Other amounts receivable | 41 | €1,115 | €15,279 | +€14,165 | +1,271% |
| Cash at bank and in hand | 54/58 | €17,540 | €6,516 | -€11,024 | -62.8% |
| Deferred charges and accrued income | 490/1 | €1,213 | €1,929 | +€716 | +59.0% |
| Total equity and liabilities | 10/49 | €62,263 | €67,628 | +€5,365 | +8.6% |
| Equity | 10/15 | €26,426 | €29,258 | +€2,832 | +10.7% |
| Profit (loss) carried forward | 14 | €26,426 | €29,258 | +€2,832 | +10.7% |
| Amounts payable | 17/49 | €35,837 | €38,370 | +€2,534 | +7.1% |
| Amounts payable after more than one year | 17 | €4,907 | €4,254 | -€653 | -13.3% |
| Financial debts | 170/4 | €4,907 | €4,254 | -€653 | -13.3% |
| Amounts payable within one year | 42/48 | €30,930 | €34,117 | +€3,187 | +10.3% |
| Trade debts | 44 | €29,689 | €33,005 | +€3,316 | +11.2% |
| Suppliers | 440/4 | €29,689 | €33,005 | +€3,316 | +11.2% |
| Taxes, remuneration and social security | 45 | €1,241 | €1,112 | -€129 | -10.4% |
| Taxes | 450/3 | €1,241 | €1,044 | -€196 | -15.8% |
| Remuneration and social security | 454/9 | €0 | €68 | +€68 | +30,691% |
| Remuneration, social security and pensions | 62 | €10,504 | €12,984 | +€2,480 | +23.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,692 | €1,992 | -€2,700 | -57.6% |
| Other operating charges | 640/8 | €978 | €1,115 | +€137 | +14.0% |
| Gross operating margin | 9900 | €24,016 | €18,158 | -€5,858 | -24.4% |
| Operating profit (loss) | 9901 | €7,843 | €2,068 | -€5,774 | -73.6% |
| Financial charges | 65/66B | -€3,711 | -€4,216 | -€504 | -13.6% |
| Recurring financial charges | 65 | -€3,711 | -€4,216 | -€504 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €11,554 | €6,284 | -€5,270 | -45.6% |
| Income taxes | 67/77 | €1,318 | €3,452 | +€2,134 | +162% |
| Profit (loss) for the period | 9904 | €10,236 | €2,832 | -€7,404 | -72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,236 | €2,832 | -€7,404 | -72.3% |
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 13 October 2026 via checked.be.