TAXFOR: 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.
TAXFOR
Largest movements
- Receivables within one year +€382,645
up €382,645 (+105%), from €363,000 to €745,645
of which Trade receivables: +€354,658
- Cash +€83,977
up €83,977 (+233%), from €35,970 to €119,947
mainly Net result for the year (+€200,530) and Trade debts (+€197,742)
- Tangible fixed assets -€20,101
down €20,101 (-7.1%), from €283,991 to €263,890
of which Land and buildings: -€19,921
- Reserves +€200,530
up €200,530 (+64.6%), from €310,207 to €510,737
of which Distributable reserves: +€200,530
- Trade debts +€197,742
up €197,742, from €0 to €197,742
- Tax, wage and social debts +€93,364
up €93,364 (+836%), from €11,172 to €104,536
- Debts after one year -€26,250
down €26,250 (-14.1%), from €186,490 to €160,240
- Current portion of long-term debt -€18,864
down €18,864 (-41.8%), from €45,115 to €26,250
- Gross operating margin +€255,083
up €255,083 (+353%), from €72,361 to €327,444
- Taxes +€87,226
up €87,226 (+526%), from €16,588 to €103,815
- Financial income +€4,867
up €4,867 (+68.0%), from €7,161 to €12,028
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 | €690,121 | €1,136,643 | +€446,521 | +64.7% |
| Fixed assets | 21/28 | €283,991 | €263,890 | -€20,101 | -7.1% |
| Tangible fixed assets | 22/27 | €283,991 | €263,890 | -€20,101 | -7.1% |
| Land and buildings | 22 | €267,854 | €247,933 | -€19,921 | -7.4% |
| Plant, machinery and equipment | 23 | €0 | €0 | -€0 | -100% |
| Furniture and vehicles | 24 | €16,137 | €15,957 | -€180 | -1.1% |
| Current assets | 29/58 | €406,131 | €872,753 | +€466,622 | +115% |
| Amounts receivable after more than one year | 29 | €7,161 | €7,161 | = | 0.0% |
| Trade receivables | 290 | €7,161 | €7,161 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €363,000 | €745,645 | +€382,645 | +105% |
| Trade receivables | 40 | €151,231 | €505,889 | +€354,658 | +235% |
| Other amounts receivable | 41 | €211,768 | €239,755 | +€27,987 | +13.2% |
| Cash at bank and in hand | 54/58 | €35,970 | €119,947 | +€83,977 | +233% |
| Total equity and liabilities | 10/49 | €690,121 | €1,136,643 | +€446,521 | +64.7% |
| Equity | 10/15 | €447,344 | €647,874 | +€200,530 | +44.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €310,207 | €510,737 | +€200,530 | +64.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €308,347 | €508,877 | +€200,530 | +65.0% |
| Profit (loss) carried forward | 14 | €124,737 | €124,737 | = | 0.0% |
| Amounts payable | 17/49 | €242,777 | €488,768 | +€245,991 | +101% |
| Amounts payable after more than one year | 17 | €186,490 | €160,240 | -€26,250 | -14.1% |
| Financial debts | 170/4 | €186,490 | €160,240 | -€26,250 | -14.1% |
| Amounts payable within one year | 42/48 | €56,287 | €328,529 | +€272,241 | +484% |
| Current portion of amounts payable after more than one year | 42 | €45,115 | €26,250 | -€18,864 | -41.8% |
| Trade debts | 44 | €0 | €197,742 | +€197,742 | |
| Suppliers | 440/4 | €0 | €197,742 | +€197,742 | |
| Taxes, remuneration and social security | 45 | €11,172 | €104,536 | +€93,364 | +836% |
| Taxes | 450/3 | €11,172 | €104,536 | +€93,364 | +836% |
| Remuneration, social security and pensions | 62 | €310 | €0 | -€310 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,599 | €23,016 | +€417 | +1.8% |
| Other operating charges | 640/8 | €2,481 | €1,865 | -€615 | -24.8% |
| Gross operating margin | 9900 | €72,361 | €327,444 | +€255,083 | +353% |
| Operating profit (loss) | 9901 | €46,971 | €302,563 | +€255,591 | +544% |
| Financial income | 75/76B | €7,161 | €12,028 | +€4,867 | +68.0% |
| Recurring financial income | 75 | €7,161 | €12,028 | +€4,867 | +68.0% |
| Financial charges | 65/66B | €10,571 | €10,245 | -€326 | -3.1% |
| Recurring financial charges | 65 | €10,571 | €10,245 | -€326 | -3.1% |
| Profit (loss) for the period before taxes | 9903 | €43,561 | €304,345 | +€260,784 | +599% |
| Income taxes | 67/77 | €16,588 | €103,815 | +€87,226 | +526% |
| Profit (loss) for the period | 9904 | €26,973 | €200,530 | +€173,557 | +643% |
| Profit (loss) for the period to be appropriated | 9905 | €26,973 | €200,530 | +€173,557 | +643% |
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 14 October 2026 via checked.be.