TEN
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 04-12-2025 PDF all 4 filings
Every figure per financial year
The operating result for 2025 is a loss of €17,292, after a profit of €16,391 in 2024. It is the lowest result since 2022.
Turnover and EBIT margin are not published. The micro format does not require them.
Investments
| Item | 30-06-2022 | 30-06-2023 | 30-06-2024 | 30-06-2025 |
|---|---|---|---|---|
| Financial fixed assets | €500 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Other operating charges640/8 | €448 | €448 | €616 | €2,272 | ▲ 269% |
| Gross operating margin9900 | €4,993 | €7,249 | €17,007 | -€15,020 | - |
| Operating profit (loss)9901 | €4,546 | €6,801 | €16,391 | -€17,292 | - |
| Financial income75/76B | €6 | - | €3 | €0 | ▼ 99.7% |
| Recurring financial income75 | €6 | - | €3 | €0 | ▼ 99.7% |
| Financial charges65/66B | €143 | €209 | €311 | €273 | ▼ 12.4% |
| Recurring financial charges65 | €143 | €209 | €311 | €273 | ▼ 12.4% |
| Profit (loss) for the period before taxes9903 | €4,408 | €6,592 | €16,083 | -€17,565 | - |
| Income taxes67/77 | €1,202 | €1,797 | €4,386 | - | - |
| Profit (loss) for the period9904 | €3,206 | €4,795 | €11,696 | -€17,565 | - |
| Profit (loss) for the period to be appropriated9905 | €3,206 | €4,795 | €11,696 | -€17,565 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €264,672 | €519,655 | €756,674 | €761,202 | ▲ 0.6% |
| Fixed assets21/28 | €500 | €500 | €500 | €500 | = |
| Financial fixed assets28 | €500 | €500 | €500 | €500 | = |
| Current assets29/58 | €264,172 | €519,155 | €756,174 | €760,702 | ▲ 0.6% |
| Stocks and contracts in progress3 | €252,539 | €483,850 | €704,982 | €754,768 | ▲ 7.1% |
| Stocks30/36 | €252,539 | €483,850 | €704,982 | €754,768 | ▲ 7.1% |
| Amounts receivable within one year40/41 | €5,974 | €2,606 | €42,052 | €4,557 | ▼ 89.2% |
| Trade receivables40 | €5,974 | €1,715 | €40,026 | €4,557 | ▼ 88.6% |
| Other amounts receivable41 | - | €891 | €2,025 | - | - |
| Cash at bank and in hand54/58 | €5,658 | €32,699 | €9,140 | €1,377 | ▼ 84.9% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €264,672 | €519,655 | €756,674 | €761,202 | ▲ 0.6% |
| Equity10/15 | €23,206 | €28,001 | €39,697 | €22,132 | ▼ 44.2% |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €3,206 | €8,001 | €19,697 | €19,697 | = |
| Distributable reserves133 | €3,206 | €8,001 | €19,697 | €19,697 | = |
| Profit (loss) carried forward14 | - | €0 | - | -€17,565 | - |
| Amounts payable17/49 | €241,466 | €491,654 | €716,976 | €739,070 | ▲ 3.1% |
| Amounts payable after more than one year17 | €170,000 | €170,000 | €270,000 | €270,000 | = |
| Financial debts170/4 | €170,000 | €170,000 | €270,000 | €270,000 | = |
| Amounts payable within one year42/48 | €71,466 | €321,654 | €446,976 | €469,070 | ▲ 4.9% |
| Trade debts44 | - | €37,091 | €57,685 | €2,997 | ▼ 94.8% |
| Suppliers440/4 | - | €37,091 | €57,685 | €2,997 | ▼ 94.8% |
| Taxes, remuneration and social security45 | €228 | €5,535 | €16,852 | €4,111 | ▼ 75.6% |
| Taxes450/3 | €228 | €5,535 | €16,852 | €4,111 | ▼ 75.6% |
| Other amounts payable47/48 | €71,238 | €279,029 | €372,440 | €461,962 | ▲ 24.0% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,206 | €4,795 | €11,696 | -€17,565 | - |
| Operating cash flow (approximation) | €3,206 | €4,795 | €11,696 | -€17,565 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | - |
| Change in cash | - | €27,040 | -€23,559 | -€7,763 | ▲ 67.0% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 819 companies had the same profile as TEN has now. Two years later, 94.7% were still going and 1.8% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency under 10%
- a small loss
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of TEN itself: 1.3% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 819 companies, not a prediction for TEN. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.