TGBAT: 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.
TGBAT
Largest movements
- Cash +€57,837
up €57,837 (+140%), from €41,346 to €99,183
mainly Advances received (+€60,000) and Other debts (+€56,960)
- Tangible fixed assets +€50,262
up €50,262 (+439%), from €11,451 to €61,713
of which Furniture and vehicles: +€50,731
- Receivables within one year -€12,484
down €12,484 (-14.9%), from €83,562 to €71,079
of which Other amounts receivable: -€7,341
- Advances received +€60,000
new in 2025: €60,000
- Other debts +€56,960
up €56,960 (+1,837%), from €3,100 to €60,060
- Short-term financial debts -€50,000
no longer reported in 2025 (was €50,000)
- Trade debts +€11,140
up €11,140 (+301%), from €3,695 to €14,834
- Reserves +€9,463
up €9,463 (+13.7%), from €68,856 to €78,319
- Gross operating margin +€22,250
up €22,250 (+49.2%), from €45,192 to €67,442
- Other operating charges +€21,080
up €21,080 (+1,125%), from €1,874 to €22,954
- Write-downs -€15,751
new in 2025: -€15,751
- Staff costs +€6,641
up €6,641 (+35.7%), from €18,614 to €25,255
- Taxes +€4,986
up €4,986 (+80.0%), from €6,235 to €11,221
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 | €143,975 | €238,333 | +€94,358 | +65.5% |
| Fixed assets | 21/28 | €15,340 | €65,602 | +€50,262 | +328% |
| Tangible fixed assets | 22/27 | €11,451 | €61,713 | +€50,262 | +439% |
| Plant, machinery and equipment | 23 | €1,274 | €805 | -€469 | -36.8% |
| Furniture and vehicles | 24 | €10,178 | €60,908 | +€50,731 | +498% |
| Financial fixed assets | 28 | €3,889 | €3,889 | = | 0.0% |
| Current assets | 29/58 | €128,635 | €172,731 | +€44,096 | +34.3% |
| Amounts receivable within one year | 40/41 | €83,562 | €71,079 | -€12,484 | -14.9% |
| Trade receivables | 40 | €76,221 | €71,079 | -€5,143 | -6.7% |
| Other amounts receivable | 41 | €7,341 | - | -€7,341 | |
| Current investments | 50/53 | €0 | €0 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €41,346 | €99,183 | +€57,837 | +140% |
| Deferred charges and accrued income | 490/1 | €3,726 | €2,469 | -€1,257 | -33.7% |
| Total equity and liabilities | 10/49 | €143,975 | €238,333 | +€94,358 | +65.5% |
| Equity | 10/15 | €77,149 | €86,379 | +€9,230 | +12.0% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €68,856 | €78,319 | +€9,463 | +13.7% |
| Distributable reserves | 133 | €68,856 | €78,319 | +€9,463 | +13.7% |
| Profit (loss) carried forward | 14 | €233 | - | -€233 | |
| Amounts payable | 17/49 | €66,826 | €151,953 | +€85,127 | +127% |
| Amounts payable within one year | 42/48 | €65,579 | €150,091 | +€84,511 | +129% |
| Financial debts | 43 | €50,000 | - | -€50,000 | |
| Credit institutions | 430/8 | €50,000 | - | -€50,000 | |
| Trade debts | 44 | €3,695 | €14,834 | +€11,140 | +301% |
| Suppliers | 440/4 | €3,695 | €14,834 | +€11,140 | +301% |
| Advances received on contracts in progress | 46 | - | €60,000 | +€60,000 | |
| Taxes, remuneration and social security | 45 | €8,784 | €15,196 | +€6,412 | +73.0% |
| Taxes | 450/3 | €5,650 | €10,939 | +€5,289 | +93.6% |
| Remuneration and social security | 454/9 | €3,134 | €4,256 | +€1,122 | +35.8% |
| Other amounts payable | 47/48 | €3,100 | €60,060 | +€56,960 | +1,837% |
| Accrued charges and deferred income | 492/3 | €1,247 | €1,863 | +€616 | +49.4% |
| Remuneration, social security and pensions | 62 | €18,614 | €25,255 | +€6,641 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,244 | €8,500 | +€4,256 | +100% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€15,751 | -€15,751 | |
| Other operating charges | 640/8 | €1,874 | €22,954 | +€21,080 | +1,125% |
| Non-recurring operating charges | 66A | €529 | - | -€529 | |
| Gross operating margin | 9900 | €45,192 | €67,442 | +€22,250 | +49.2% |
| Operating profit (loss) | 9901 | €19,931 | €26,484 | +€6,553 | +32.9% |
| Financial income | 75/76B | €3,787 | €1,142 | -€2,646 | -69.9% |
| Recurring financial income | 75 | €3,787 | €1,142 | -€2,646 | -69.9% |
| Financial charges | 65/66B | €6,600 | €4,135 | -€2,465 | -37.3% |
| Recurring financial charges | 65 | €6,600 | €4,135 | -€2,465 | -37.3% |
| Profit (loss) for the period before taxes | 9903 | €17,118 | €23,491 | +€6,373 | +37.2% |
| Income taxes | 67/77 | €6,235 | €11,221 | +€4,986 | +80.0% |
| Profit (loss) for the period | 9904 | €10,883 | €12,269 | +€1,387 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,883 | €12,269 | +€1,387 | +12.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.