TAVENEDE: 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.
TAVENEDE
Largest movements
- Receivables within one year +€141,767
up €141,767 (+3,732%), from €3,799 to €145,566
of which Other amounts receivable: +€145,566
- Tangible fixed assets +€23,277
up €23,277 (+12.1%), from €192,700 to €215,977
of which Other tangible fixed assets: +€23,044
- Deferred charges and accrued income -€9,848
down €9,848 (-61.5%), from €16,022 to €6,174
- Cash -€5,633
down €5,633 (-4.2%), from €134,681 to €129,048
mainly Receivables within one year (-€141,767) and Investment in fixed assets (net) (-€58,751)
- Profit (loss) carried forward +€174,767
up €174,767 (+149%), from €117,021 to €291,787
- Debts after one year -€14,655
down €14,655 (-10.3%), from €142,880 to €128,226
- Other debts -€11,231
no longer reported in 2025 (was €11,231)
- Gross operating margin +€74,165
up €74,165 (+37.6%), from €197,225 to €271,391
- Taxes +€18,208
up €18,208 (+54.4%), from €33,457 to €51,665
- Financial income +€3,389
up €3,389 (+321%), from €1,055 to €4,445
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 | €347,522 | €496,778 | +€149,256 | +42.9% |
| Fixed assets | 21/28 | €192,700 | €215,977 | +€23,277 | +12.1% |
| Tangible fixed assets | 22/27 | €192,700 | €215,977 | +€23,277 | +12.1% |
| Land and buildings | 22 | €423 | €115 | -€308 | -72.9% |
| Plant, machinery and equipment | 23 | €19,307 | €18,082 | -€1,225 | -6.3% |
| Furniture and vehicles | 24 | €3,055 | €4,821 | +€1,766 | +57.8% |
| Other tangible fixed assets | 26 | €169,915 | €192,959 | +€23,044 | +13.6% |
| Current assets | 29/58 | €154,821 | €280,800 | +€125,979 | +81.4% |
| Amounts receivable within one year | 40/41 | €3,799 | €145,566 | +€141,767 | +3,732% |
| Trade receivables | 40 | €3,799 | - | -€3,799 | |
| Other amounts receivable | 41 | - | €145,566 | +€145,566 | |
| Current investments | 50/53 | €319 | €12 | -€307 | -96.1% |
| Cash at bank and in hand | 54/58 | €134,681 | €129,048 | -€5,633 | -4.2% |
| Deferred charges and accrued income | 490/1 | €16,022 | €6,174 | -€9,848 | -61.5% |
| Total equity and liabilities | 10/49 | €347,522 | €496,778 | +€149,256 | +42.9% |
| Equity | 10/15 | €163,381 | €338,147 | +€174,767 | +107% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €45,360 | €45,360 | = | 0.0% |
| Distributable reserves | 133 | €45,360 | €45,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €117,021 | €291,787 | +€174,767 | +149% |
| Amounts payable | 17/49 | €184,141 | €158,630 | -€25,511 | -13.9% |
| Amounts payable after more than one year | 17 | €142,880 | €128,226 | -€14,655 | -10.3% |
| Financial debts | 170/4 | €142,880 | €128,226 | -€14,655 | -10.3% |
| Amounts payable within one year | 42/48 | €39,193 | €27,545 | -€11,648 | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €15,822 | €16,107 | +€285 | +1.8% |
| Trade debts | 44 | €5,796 | €5,533 | -€263 | -4.5% |
| Suppliers | 440/4 | €5,796 | €5,533 | -€263 | -4.5% |
| Taxes, remuneration and social security | 45 | €6,343 | €5,905 | -€439 | -6.9% |
| Taxes | 450/3 | €5,666 | €5,905 | +€238 | +4.2% |
| Remuneration and social security | 454/9 | €677 | - | -€677 | |
| Other amounts payable | 47/48 | €11,231 | - | -€11,231 | |
| Accrued charges and deferred income | 492/3 | €2,068 | €2,860 | +€791 | +38.2% |
| Remuneration, social security and pensions | 62 | €10,878 | €8,186 | -€2,692 | -24.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,329 | €35,475 | +€2,145 | +6.4% |
| Other operating charges | 640/8 | €1,333 | €748 | -€584 | -43.8% |
| Gross operating margin | 9900 | €197,225 | €271,391 | +€74,165 | +37.6% |
| Operating profit (loss) | 9901 | €151,686 | €226,982 | +€75,297 | +49.6% |
| Financial income | 75/76B | €1,055 | €4,445 | +€3,389 | +321% |
| Recurring financial income | 75 | €1,055 | €4,445 | +€3,389 | +321% |
| Financial charges | 65/66B | €4,723 | €4,995 | +€271 | +5.7% |
| Recurring financial charges | 65 | €4,723 | €4,995 | +€271 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €148,017 | €226,432 | +€78,415 | +53.0% |
| Income taxes | 67/77 | €33,457 | €51,665 | +€18,208 | +54.4% |
| Profit (loss) for the period | 9904 | €114,560 | €174,767 | +€60,206 | +52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,560 | €174,767 | +€60,206 | +52.6% |
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.