TUAKA: 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.
What changed
TUAKA
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€81,030
2024 · €755,924-€674,895
Equity
€14.3m
2024 · €14.4m-€58,970
Cash
€21,795
2024 · €8,955+€12,840
Balance sheet total
€49.9m
2024 · €48.6m+€1.3m
Largest movements
Assets
- Financial fixed assets +€2.0m
up €2.0m (+21.0%), from €9.5m to €11.5m
of which Affiliated companies: +€2.0m
- Receivables within one year -€1.3m
down €1.3m (-6.4%), from €20.2m to €19.0m
of which Other amounts receivable: -€1.3m
- Tangible fixed assets +€934,474
up €934,474 (+7.2%), from €13.0m to €13.9m
of which Land and buildings: +€915,034
Equity and liabilities
- Debts after one year +€792,402
up €792,402 (+6.4%), from €12.4m to €13.2m
Income statement
- Turnover -€952,658
down €952,658 (-63.7%), from €1.5m to €541,990
- Other operating income +€313,244
up €313,244 (+22.2%), from €1.4m to €1.7m
- Goods and materials -€278,202
down €278,202 (-43.7%), from €636,532 to €358,330
of which Purchases: -€2.1m
- Financial income -€257,537
down €257,537 (-25.0%), from €1.0m to €771,542
- Taxes -€234,006
down €234,006 (-80.7%), from €289,907 to €55,901
of which Taxes: -€233,264
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.
Result 2024
€755,924
Turnover
-€952,658
Other operating income
+€313,244
Goods and materials
+€278,202
Services and other goods
-€45,522
Staff costs
+€76,608
Depreciation
-€205,228
Other operating charges
-€74,984
Other operating items
-€133,594
Financial income
-€257,537
Financial charges
+€92,568
Taxes
+€234,006
Result 2025
€81,030
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€2.8m
Investment
-€3.8m
Financing
+€1.0m
Cash 2024
€8,955
From operations (derived)
+€2.8m
Net result for the year
+€81,030
Depreciation
+€863,852
Stocks and contracts
+€377,458
Receivables within one year
+€1.3m
Deferred charges and accrued income
-€17,988
Provisions
-€24,585
Trade debts
-€73,479
Tax, wage and social debts
+€64,117
Advances received
+€4,500
Other debts
+€344,043
Accrued charges and deferred income
-€139,365
Investment (derived)
-€3.8m
Investment in fixed assets (net)
-€3.8m
Financing
+€1.0m
Debts after one year
+€792,402
Current portion of long-term debt
+€193,672
Short-term financial debts
+€188,573
Contributions, distributions and other
-€140,000
Cash 2025
€21,795
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €48,628,752 | €49,919,659 | +€1.3m | +2.7% |
| Fixed assets | 21/28 | €22,453,938 | €25,383,673 | +€2.9m | +13.0% |
| Tangible fixed assets | 22/27 | €12,960,380 | €13,894,854 | +€934,474 | +7.2% |
| Land and buildings | 22 | €12,890,759 | €13,805,793 | +€915,034 | +7.1% |
| Plant, machinery and equipment | 23 | - | €16,177 | +€16,177 | |
| Assets under construction and advance payments | 27 | €69,621 | €72,885 | +€3,264 | +4.7% |
| Financial fixed assets | 28 | €9,493,559 | €11,488,819 | +€2.0m | +21.0% |
| Affiliated companies | 280/1 | €8,088,456 | €10,088,456 | +€2.0m | +24.7% |
| Participating interests | 280 | €8,088,456 | €10,088,456 | +€2.0m | +24.7% |
| Companies linked by participating interests | 282/3 | €1,400,000 | €1,400,000 | = | 0.0% |
| Participating interests | 282 | €1,400,000 | €1,400,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,103 | €363 | -€4,740 | -92.9% |
| Amounts receivable and cash guarantees | 285/8 | €5,103 | €363 | -€4,740 | -92.9% |
| Current assets | 29/58 | €26,174,813 | €24,535,986 | -€1.6m | -6.3% |
| Stocks and contracts in progress | 3 | €4,594,505 | €4,217,047 | -€377,458 | -8.2% |
| Stocks | 30/36 | €4,464,542 | €4,178,692 | -€285,850 | -6.4% |
| Property held for sale | 35 | €4,464,542 | €4,178,692 | -€285,850 | -6.4% |
| Contracts in progress | 37 | €129,963 | €38,355 | -€91,608 | -70.5% |
| Amounts receivable within one year | 40/41 | €20,248,213 | €18,956,017 | -€1.3m | -6.4% |
| Trade receivables | 40 | €7,200 | €48,845 | +€41,645 | +578% |
| Other amounts receivable | 41 | €20,241,013 | €18,907,172 | -€1.3m | -6.6% |
| Cash at bank and in hand | 54/58 | €8,955 | €21,795 | +€12,840 | +143% |
| Deferred charges and accrued income | 490/1 | €1,323,140 | €1,341,128 | +€17,988 | +1.4% |
| Total equity and liabilities | 10/49 | €48,628,752 | €49,919,659 | +€1.3m | +2.7% |
| Equity | 10/15 | €14,375,315 | €14,316,345 | -€58,970 | -0.4% |
| Contributions | 10/11 | €433,117 | €433,117 | = | 0.0% |
| Capital | 10 | €433,117 | €433,117 | = | 0.0% |
| Issued capital | 100 | €433,117 | €433,117 | = | 0.0% |
| Reserves | 13 | €13,564,063 | €13,883,228 | +€319,165 | +2.4% |
| Non-distributable reserves | 130/1 | €343,162 | €343,162 | = | 0.0% |
| Legal reserve | 130 | €343,162 | €343,162 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,736,954 | €1,663,198 | -€73,756 | -4.2% |
| Distributable reserves | 133 | €11,483,947 | €11,876,868 | +€392,922 | +3.4% |
| Profit (loss) carried forward | 14 | €378,136 | - | -€378,136 | |
| Provisions and deferred taxes | 16 | €578,985 | €554,399 | -€24,585 | -4.2% |
| Deferred taxes | 168 | €578,985 | €554,399 | -€24,585 | -4.2% |
| Amounts payable | 17/49 | €33,674,452 | €35,048,915 | +€1.4m | +4.1% |
| Amounts payable after more than one year | 17 | €12,363,182 | €13,155,584 | +€792,402 | +6.4% |
| Financial debts | 170/4 | €12,363,182 | €13,155,584 | +€792,402 | +6.4% |
| Subordinated loans | 170 | €1,000,000 | €1,000,000 | = | 0.0% |
| Credit institutions | 173 | €11,363,182 | €12,155,584 | +€792,402 | +7.0% |
| Amounts payable within one year | 42/48 | €20,417,832 | €21,139,258 | +€721,426 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €568,124 | €761,796 | +€193,672 | +34.1% |
| Financial debts | 43 | - | €188,573 | +€188,573 | |
| Credit institutions | 430/8 | - | €188,573 | +€188,573 | |
| Trade debts | 44 | €127,427 | €53,948 | -€73,479 | -57.7% |
| Suppliers | 440/4 | €127,427 | €53,948 | -€73,479 | -57.7% |
| Advances received on contracts in progress | 46 | - | €4,500 | +€4,500 | |
| Taxes, remuneration and social security | 45 | €58,686 | €122,802 | +€64,117 | +109% |
| Taxes | 450/3 | €21,947 | €103,341 | +€81,394 | +371% |
| Remuneration and social security | 454/9 | €36,739 | €19,461 | -€17,277 | -47.0% |
| Other amounts payable | 47/48 | €19,663,595 | €20,007,638 | +€344,043 | +1.7% |
| Accrued charges and deferred income | 492/3 | €893,438 | €754,074 | -€139,365 | -15.6% |
| Operating income | 70/76A | €2,952,838 | €2,176,575 | -€776,263 | -26.3% |
| Turnover | 70 | €1,494,647 | €541,990 | -€952,658 | -63.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €45,228 | -€91,621 | -€136,849 | |
| Other operating income | 74 | €1,412,963 | €1,726,206 | +€313,244 | +22.2% |
| Operating charges | 60/66A | €1,839,041 | €1,806,710 | -€32,331 | -1.8% |
| Goods for resale, raw materials and consumables | 60 | €636,532 | €358,330 | -€278,202 | -43.7% |
| Purchases | 600/8 | €2,107,090 | €30,969 | -€2.1m | -98.5% |
| Change in stocks: decrease (increase) | 609 | -€1,470,558 | €327,361 | +€1.8m | |
| Services and other goods | 61 | €85,970 | €131,492 | +€45,522 | +53.0% |
| Remuneration, social security and pensions | 62 | €328,377 | €251,769 | -€76,608 | -23.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €658,625 | €863,852 | +€205,228 | +31.2% |
| Other operating charges | 640/8 | €126,283 | €201,267 | +€74,984 | +59.4% |
| Non-recurring operating charges | 66A | €3,255 | - | -€3,255 | |
| Operating profit (loss) | 9901 | €1,113,796 | €369,865 | -€743,931 | -66.8% |
| Financial income | 75/76B | €1,029,079 | €771,542 | -€257,537 | -25.0% |
| Recurring financial income | 75 | €1,029,079 | €771,542 | -€257,537 | -25.0% |
| Income from financial fixed assets | 750 | €286 | - | -€286 | |
| Income from current assets | 751 | €1,028,793 | €771,542 | -€257,251 | -25.0% |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,121,630 | €1,029,062 | -€92,568 | -8.3% |
| Recurring financial charges | 65 | €1,121,630 | €1,029,062 | -€92,568 | -8.3% |
| Debt charges | 650 | €1,117,755 | €1,021,232 | -€96,523 | -8.6% |
| Other financial charges | 652/9 | €3,874 | €7,830 | +€3,956 | +102% |
| Profit (loss) for the period before taxes | 9903 | €1,021,245 | €112,345 | -€908,901 | -89.0% |
| Transfer from deferred taxes | 780 | €24,585 | €24,585 | = | 0.0% |
| Income taxes | 67/77 | €289,907 | €55,901 | -€234,006 | -80.7% |
| Taxes | 670/3 | €289,907 | €56,642 | -€233,264 | -80.5% |
| Tax adjustments and reversals of tax provisions | 77 | - | €742 | +€742 | |
| Profit (loss) for the period | 9904 | €755,924 | €81,030 | -€674,895 | -89.3% |
| Transfer from tax-exempt reserves | 789 | €73,756 | €73,756 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €829,681 | €154,786 | -€674,895 | -81.3% |
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 23 October 2026 via checked.be.