T-LEN: 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-LEN
Largest movements
- Tangible fixed assets -€60,365
down €60,365 (-4.8%), from €1.3m to €1.2m
of which Land and buildings: -€40,919
- Reserves +€188,066
up €188,066 (+86.5%), from €217,339 to €405,405
- Profit (loss) carried forward -€176,471
down €176,471 (-47.5%), from €371,880 to €195,410
- Debts after one year -€58,654
down €58,654 (-10.2%), from €574,911 to €516,257
- Other debts -€33,635
down €33,635 (-76.5%), from €43,973 to €10,338
- Tax, wage and social debts +€21,346
up €21,346 (+64.7%), from €32,971 to €54,317
- Financial income -€22,855
down €22,855 (-32.8%), from €69,766 to €46,911
- Gross operating margin -€19,434
down €19,434 (-6.1%), from €320,269 to €300,835
- Depreciation -€5,909
down €5,909 (-7.7%), from €76,573 to €70,664
- Other operating charges -€4,834
down €4,834 (-38.6%), from €12,508 to €7,674
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 | €1,342,740 | €1,272,313 | -€70,428 | -5.2% |
| Formation expenses | 20 | €87 | - | -€87 | |
| Fixed assets | 21/28 | €1,261,922 | €1,201,557 | -€60,365 | -4.8% |
| Tangible fixed assets | 22/27 | €1,256,922 | €1,196,557 | -€60,365 | -4.8% |
| Land and buildings | 22 | €1,135,730 | €1,094,811 | -€40,919 | -3.6% |
| Plant, machinery and equipment | 23 | - | €959 | +€959 | |
| Furniture and vehicles | 24 | €121,192 | €100,787 | -€20,405 | -16.8% |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €80,731 | €70,755 | -€9,976 | -12.4% |
| Amounts receivable within one year | 40/41 | €30,650 | €31,645 | +€995 | +3.2% |
| Trade receivables | 40 | €30,650 | €31,645 | +€995 | +3.2% |
| Cash at bank and in hand | 54/58 | €18,482 | €15,354 | -€3,127 | -16.9% |
| Deferred charges and accrued income | 490/1 | €31,600 | €23,756 | -€7,843 | -24.8% |
| Total equity and liabilities | 10/49 | €1,342,740 | €1,272,313 | -€70,428 | -5.2% |
| Equity | 10/15 | €590,719 | €602,315 | +€11,595 | +2.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €217,339 | €405,405 | +€188,066 | +86.5% |
| Distributable reserves | 133 | €217,339 | €405,405 | +€188,066 | +86.5% |
| Profit (loss) carried forward | 14 | €371,880 | €195,410 | -€176,471 | -47.5% |
| Amounts payable | 17/49 | €752,021 | €669,998 | -€82,023 | -10.9% |
| Amounts payable after more than one year | 17 | €574,911 | €516,257 | -€58,654 | -10.2% |
| Financial debts | 170/4 | €574,911 | €516,257 | -€58,654 | -10.2% |
| Amounts payable within one year | 42/48 | €176,060 | €152,981 | -€23,079 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €64,998 | €58,654 | -€6,345 | -9.8% |
| Financial debts | 43 | €33,193 | €28,000 | -€5,193 | -15.6% |
| Credit institutions | 430/8 | €33,193 | €28,000 | -€5,193 | -15.6% |
| Trade debts | 44 | €924 | €1,672 | +€748 | +81.0% |
| Suppliers | 440/4 | €924 | €1,672 | +€748 | +81.0% |
| Taxes, remuneration and social security | 45 | €32,971 | €54,317 | +€21,346 | +64.7% |
| Taxes | 450/3 | €32,971 | €54,317 | +€21,346 | +64.7% |
| Other amounts payable | 47/48 | €43,973 | €10,338 | -€33,635 | -76.5% |
| Accrued charges and deferred income | 492/3 | €1,050 | €760 | -€290 | -27.6% |
| Non-recurring operating income | 76A | €44,138 | - | -€44,138 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,573 | €70,664 | -€5,909 | -7.7% |
| Other operating charges | 640/8 | €12,508 | €7,674 | -€4,834 | -38.6% |
| Non-recurring operating charges | 66A | €527 | - | -€527 | |
| Gross operating margin | 9900 | €320,269 | €300,835 | -€19,434 | -6.1% |
| Operating profit (loss) | 9901 | €230,662 | €222,497 | -€8,165 | -3.5% |
| Financial income | 75/76B | €69,766 | €46,911 | -€22,855 | -32.8% |
| Recurring financial income | 75 | €69,766 | €46,911 | -€22,855 | -32.8% |
| Financial charges | 65/66B | €14,000 | €11,975 | -€2,025 | -14.5% |
| Recurring financial charges | 65 | €14,000 | €11,975 | -€2,025 | -14.5% |
| Profit (loss) for the period before taxes | 9903 | €286,428 | €257,433 | -€28,995 | -10.1% |
| Income taxes | 67/77 | €69,089 | €69,367 | +€278 | +0.4% |
| Profit (loss) for the period | 9904 | €217,339 | €188,066 | -€29,273 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €217,339 | €188,066 | -€29,273 | -13.5% |
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 28 October 2026 via checked.be.