E-Teo-L: 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.
E-Teo-L
Largest movements
- Receivables within one year -€27,496
down €27,496 (-45.5%), from €60,374 to €32,878
of which Trade receivables: -€16,232
- Receivables after one year -€25,000
down €25,000 (-100%), from €25,000 to €0
- Cash -€13,688
down €13,688 (-22.5%), from €60,819 to €47,132
mainly Other debts (-€60,000) and Contributions, distributions and other (-€35,000)
- Tangible fixed assets -€2,877
down €2,877 (-56.1%), from €5,130 to €2,253
of which Furniture and vehicles: -€2,529
- Other debts -€60,000
down €60,000 (-63.2%), from €95,000 to €35,000
- Trade debts -€12,463
down €12,463 (-75.1%), from €16,597 to €4,134
- Profit (loss) carried forward +€5,039
up €5,039 (+21.1%), from €23,887 to €28,926
- Gross operating margin -€13,755
down €13,755 (-20.8%), from €66,271 to €52,517
- Taxes -€2,590
down €2,590 (-19.3%), from €13,424 to €10,834
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 | €152,308 | €82,772 | -€69,536 | -45.7% |
| Fixed assets | 21/28 | €5,130 | €2,253 | -€2,877 | -56.1% |
| Tangible fixed assets | 22/27 | €5,130 | €2,253 | -€2,877 | -56.1% |
| Plant, machinery and equipment | 23 | €629 | €282 | -€348 | -55.2% |
| Furniture and vehicles | 24 | €4,500 | €1,971 | -€2,529 | -56.2% |
| Current assets | 29/58 | €147,179 | €80,519 | -€66,659 | -45.3% |
| Amounts receivable after more than one year | 29 | €25,000 | €0 | -€25,000 | -100% |
| Other amounts receivable | 291 | €25,000 | €0 | -€25,000 | -100% |
| Amounts receivable within one year | 40/41 | €60,374 | €32,878 | -€27,496 | -45.5% |
| Trade receivables | 40 | €20,486 | €4,254 | -€16,232 | -79.2% |
| Other amounts receivable | 41 | €39,888 | €28,624 | -€11,264 | -28.2% |
| Cash at bank and in hand | 54/58 | €60,819 | €47,132 | -€13,688 | -22.5% |
| Deferred charges and accrued income | 490/1 | €985 | €509 | -€476 | -48.3% |
| Total equity and liabilities | 10/49 | €152,308 | €82,772 | -€69,536 | -45.7% |
| Equity | 10/15 | €23,888 | €28,927 | +€5,039 | +21.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,887 | €28,926 | +€5,039 | +21.1% |
| Amounts payable | 17/49 | €128,420 | €53,845 | -€74,576 | -58.1% |
| Amounts payable after more than one year | 17 | €1,287 | €0 | -€1,287 | -100% |
| Financial debts | 170/4 | €1,287 | €0 | -€1,287 | -100% |
| Amounts payable within one year | 42/48 | €127,133 | €53,845 | -€73,289 | -57.6% |
| Current portion of amounts payable after more than one year | 42 | €2,113 | €1,287 | -€826 | -39.1% |
| Trade debts | 44 | €16,597 | €4,134 | -€12,463 | -75.1% |
| Suppliers | 440/4 | €16,597 | €4,134 | -€12,463 | -75.1% |
| Taxes, remuneration and social security | 45 | €13,424 | €13,424 | = | 0.0% |
| Taxes | 450/3 | €13,424 | €13,424 | = | 0.0% |
| Other amounts payable | 47/48 | €95,000 | €35,000 | -€60,000 | -63.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,877 | €2,877 | = | 0.0% |
| Other operating charges | 640/8 | €2 | €95 | +€93 | +3,943% |
| Gross operating margin | 9900 | €66,271 | €52,517 | -€13,755 | -20.8% |
| Operating profit (loss) | 9901 | €63,392 | €49,545 | -€13,847 | -21.8% |
| Financial income | 75/76B | €1,188 | €1,826 | +€638 | +53.7% |
| Recurring financial income | 75 | €1,188 | €1,826 | +€638 | +53.7% |
| Financial charges | 65/66B | €516 | €498 | -€19 | -3.6% |
| Recurring financial charges | 65 | €516 | €498 | -€19 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €64,064 | €50,873 | -€13,191 | -20.6% |
| Income taxes | 67/77 | €13,424 | €10,834 | -€2,590 | -19.3% |
| Profit (loss) for the period | 9904 | €50,640 | €40,039 | -€10,601 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,640 | €40,039 | -€10,601 | -20.9% |
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 16 October 2026 via checked.be.