TAZO: 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.
TAZO
Largest movements
- Cash -€35,287
down €35,287 (-23.3%), from €151,681 to €116,394
mainly Contributions, distributions and other (-€40,000) and Receivables within one year (-€32,293)
- Receivables within one year +€32,293
up €32,293 (+116.5%), from €27,729 to €60,022
of which Trade receivables: +€22,893
- Tangible fixed assets +€12,004
up €12,004 (+56.6%), from €21,221 to €33,224
of which Furniture and vehicles: +€6,987
- Tax, wage and social debts +€10,222
new in 2025: €10,222
- Trade debts -€2,751
down €2,751 (-97.2%), from €2,831 to €80
- Gross operating margin +€9,446
up €9,446 (+17.9%), from €52,687 to €62,132
- Staff costs -€1,862
down €1,862 (-55.4%), from €3,360 to €1,498
- Taxes +€1,846
up €1,846 (+18.9%), from €9,753 to €11,599
- Financial charges +€1,631
up €1,631 (+447.7%), from €364 to €1,996
- Financial income +€886
up €886 (+38.7%), from €2,287 to €3,173
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 | €211,301 | €220,905 | +€9,604 | +4.5% |
| Fixed assets | 21/28 | €21,221 | €33,224 | +€12,004 | +56.6% |
| Tangible fixed assets | 22/27 | €21,221 | €33,224 | +€12,004 | +56.6% |
| Land and buildings | 22 | - | €3,785 | +€3,785 | |
| Plant, machinery and equipment | 23 | €3,127 | €4,358 | +€1,232 | +39.4% |
| Furniture and vehicles | 24 | €18,094 | €25,081 | +€6,987 | +38.6% |
| Current assets | 29/58 | €190,080 | €187,681 | -€2,399 | -1.3% |
| Amounts receivable within one year | 40/41 | €27,729 | €60,022 | +€32,293 | +116.5% |
| Trade receivables | 40 | - | €22,893 | +€22,893 | |
| Other amounts receivable | 41 | €27,729 | €37,129 | +€9,400 | +33.9% |
| Current investments | 50/53 | €9,903 | €10,383 | +€480 | +4.8% |
| Cash at bank and in hand | 54/58 | €151,681 | €116,394 | -€35,287 | -23.3% |
| Deferred charges and accrued income | 490/1 | €767 | €882 | +€115 | +15.0% |
| Total equity and liabilities | 10/49 | €211,301 | €220,905 | +€9,604 | +4.5% |
| Equity | 10/15 | €208,470 | €210,604 | +€2,134 | +1.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €205,000 | €205,000 | = | 0.0% |
| Distributable reserves | 133 | €205,000 | €205,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €970 | €3,104 | +€2,134 | +220.0% |
| Amounts payable | 17/49 | €2,831 | €10,302 | +€7,471 | +263.9% |
| Amounts payable within one year | 42/48 | €2,831 | €10,302 | +€7,471 | +263.9% |
| Trade debts | 44 | €2,831 | €80 | -€2,751 | -97.2% |
| Suppliers | 440/4 | €2,831 | €80 | -€2,751 | -97.2% |
| Taxes, remuneration and social security | 45 | - | €10,222 | +€10,222 | |
| Taxes | 450/3 | - | €10,222 | +€10,222 | |
| Remuneration, social security and pensions | 62 | €3,360 | €1,498 | -€1,862 | -55.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,582 | €7,445 | +€863 | +13.1% |
| Other operating charges | 640/8 | €640 | €634 | -€6 | -1.0% |
| Gross operating margin | 9900 | €52,687 | €62,132 | +€9,446 | +17.9% |
| Operating profit (loss) | 9901 | €42,104 | €52,555 | +€10,452 | +24.8% |
| Financial income | 75/76B | €2,287 | €3,173 | +€886 | +38.7% |
| Recurring financial income | 75 | €2,287 | €3,173 | +€886 | +38.7% |
| Financial charges | 65/66B | €364 | €1,996 | +€1,631 | +447.7% |
| Recurring financial charges | 65 | €364 | €1,996 | +€1,631 | +447.7% |
| Profit (loss) for the period before taxes | 9903 | €44,026 | €53,733 | +€9,706 | +22.0% |
| Income taxes | 67/77 | €9,753 | €11,599 | +€1,846 | +18.9% |
| Profit (loss) for the period | 9904 | €34,273 | €42,134 | +€7,861 | +22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,273 | €42,134 | +€7,861 | +22.9% |
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 11 October 2026 via checked.be.