T.E.V.: 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.
T.E.V.
Largest movements
- Current investments +€8,215
up €8,215 (+4.7%), from €173,773 to €181,988
- Cash +€5,997
up €5,997 (+34.5%), from €17,398 to €23,394
mainly Other debts (+€36,290) and Net result for the year (+€4,692)
- Receivables within one year +€4,007
up €4,007 (+4.3%), from €93,545 to €97,552
of which Other amounts receivable: +€14,507
- Other debts +€36,290
up €36,290 (+157.8%), from €23,000 to €59,290
- Trade debts -€22,998
down €22,998 (-47.0%), from €48,913 to €25,915
- Reserves +€4,692
up €4,692 (+3.3%), from €142,413 to €147,105
of which Distributable reserves: +€4,692
- Gross operating margin -€16,594
down €16,594 (-68.3%), from €24,301 to €7,707
- Financial income -€1,017
down €1,017 (-21.5%), from €4,732 to €3,714
- Taxes +€1,003
up €1,003, from €0 to €1,003
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.
Cash bridge derived
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 | €364,327 | €382,347 | +€18,020 | +4.9% |
| Fixed assets | 21/28 | €79,226 | €78,821 | -€406 | -0.5% |
| Tangible fixed assets | 22/27 | €79,226 | €78,821 | -€406 | -0.5% |
| Land and buildings | 22 | €79,226 | €78,821 | -€406 | -0.5% |
| Current assets | 29/58 | €285,100 | €303,526 | +€18,426 | +6.5% |
| Amounts receivable within one year | 40/41 | €93,545 | €97,552 | +€4,007 | +4.3% |
| Trade receivables | 40 | €22,500 | €12,000 | -€10,500 | -46.7% |
| Other amounts receivable | 41 | €71,045 | €85,552 | +€14,507 | +20.4% |
| Current investments | 50/53 | €173,773 | €181,988 | +€8,215 | +4.7% |
| Cash at bank and in hand | 54/58 | €17,398 | €23,394 | +€5,997 | +34.5% |
| Deferred charges and accrued income | 490/1 | €385 | €592 | +€207 | +53.8% |
| Total equity and liabilities | 10/49 | €364,327 | €382,347 | +€18,020 | +4.9% |
| Equity | 10/15 | €292,413 | €297,105 | +€4,692 | +1.6% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €142,413 | €147,105 | +€4,692 | +3.3% |
| Non-distributable reserves | 130/1 | €15,000 | €15,000 | = | 0.0% |
| Legal reserve | 130 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €127,413 | €132,105 | +€4,692 | +3.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €71,913 | €85,242 | +€13,329 | +18.5% |
| Amounts payable within one year | 42/48 | €71,913 | €85,205 | +€13,292 | +18.5% |
| Trade debts | 44 | €48,913 | €25,915 | -€22,998 | -47.0% |
| Suppliers | 440/4 | €48,913 | €25,915 | -€22,998 | -47.0% |
| Other amounts payable | 47/48 | €23,000 | €59,290 | +€36,290 | +157.8% |
| Accrued charges and deferred income | 492/3 | - | €37 | +€37 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €406 | €406 | -€0 | 0.0% |
| Other operating charges | 640/8 | €5,085 | €5,115 | +€30 | +0.6% |
| Gross operating margin | 9900 | €24,301 | €7,707 | -€16,594 | -68.3% |
| Operating profit (loss) | 9901 | €18,810 | €2,186 | -€16,624 | -88.4% |
| Financial income | 75/76B | €4,732 | €3,714 | -€1,017 | -21.5% |
| Recurring financial income | 75 | €4,732 | €3,714 | -€1,017 | -21.5% |
| Financial charges | 65/66B | €135 | €206 | +€71 | +52.5% |
| Recurring financial charges | 65 | €135 | €206 | +€71 | +52.5% |
| Profit (loss) for the period before taxes | 9903 | €23,406 | €5,694 | -€17,712 | -75.7% |
| Income taxes | 67/77 | €0 | €1,003 | +€1,003 | |
| Profit (loss) for the period | 9904 | €23,406 | €4,692 | -€18,715 | -80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,406 | €4,692 | -€18,715 | -80.0% |
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 12 October 2026 via checked.be.