TE CUM: what changed
Two fiscal 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.
TE CUM
Largest movements
- Cash +€86,693
up €86,693 (+146.3%), from €59,241 to €145,934
mainly Debts after one year (+€184,058) and Depreciation (+€144,236)
- Tangible fixed assets -€33,591
down €33,591 (-1.6%), from €2.1m to €2.0m
of which Assets under construction and advance payments: -€83,154
- Trade debts -€215,837
down €215,837 (-88.3%), from €244,356 to €28,518
- Debts after one year +€184,058
up €184,058 (+26.8%), from €686,265 to €870,323
of which Trade debts: +€200,000
- Profit (loss) carried forward +€46,243
up €46,243 (+276.2%), from €16,743 to €62,986
- Gross operating margin +€67,808
up €67,808 (+33.1%), from €204,635 to €272,442
- Purchases and services -€46,330
down €46,330 (-32.3%), from €143,420 to €97,089
- Turnover +€21,477
up €21,477 (+6.2%), from €348,054 to €369,531
- Taxes +€13,977
up €13,977 (+972.8%), from €1,437 to €15,414
- Depreciation +€9,765
up €9,765 (+7.3%), from €134,471 to €144,236
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 | €2,143,913 | €2,181,448 | +€37,536 | +1.8% |
| Fixed assets | 21/28 | €2,069,105 | €2,035,514 | -€33,591 | -1.6% |
| Tangible fixed assets | 22/27 | €2,069,105 | €2,035,514 | -€33,591 | -1.6% |
| Land and buildings | 22 | €1,922,934 | €1,975,162 | +€52,228 | +2.7% |
| Plant, machinery and equipment | 23 | €35,317 | €30,441 | -€4,876 | -13.8% |
| Furniture and vehicles | 24 | €11,459 | €13,670 | +€2,211 | +19.3% |
| Assets under construction and advance payments | 27 | €99,395 | €16,241 | -€83,154 | -83.7% |
| Current assets | 29/58 | €74,807 | €145,934 | +€71,127 | +95.1% |
| Amounts receivable within one year | 40/41 | €15,566 | - | -€15,566 | |
| Trade receivables | 40 | €1,770 | - | -€1,770 | |
| Other amounts receivable | 41 | €13,796 | - | -€13,796 | |
| Cash at bank and in hand | 54/58 | €59,241 | €145,934 | +€86,693 | +146.3% |
| Total equity and liabilities | 10/49 | €2,143,913 | €2,181,448 | +€37,536 | +1.8% |
| Equity | 10/15 | €246,833 | €290,642 | +€43,809 | +17.7% |
| Contributions | 10/11 | €161,973 | €161,973 | = | 0.0% |
| Capital | 10 | €161,973 | €161,973 | = | 0.0% |
| Issued capital | 100 | €161,973 | €161,973 | = | 0.0% |
| Reserves | 13 | €16,200 | €16,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,743 | €62,986 | +€46,243 | +276.2% |
| Investment grants | 15 | €51,917 | €49,483 | -€2,434 | -4.7% |
| Amounts payable | 17/49 | €1,897,080 | €1,890,806 | -€6,274 | -0.3% |
| Amounts payable after more than one year | 17 | €686,265 | €870,323 | +€184,058 | +26.8% |
| Financial debts | 170/4 | €671,073 | €658,979 | -€12,094 | -1.8% |
| Trade debts | 175 | - | €200,000 | +€200,000 | |
| Other amounts payable | 178/9 | €15,192 | €11,344 | -€3,849 | -25.3% |
| Amounts payable within one year | 42/48 | €1,210,815 | €1,020,483 | -€190,331 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €171,675 | €183,308 | +€11,633 | +6.8% |
| Trade debts | 44 | €244,356 | €28,518 | -€215,837 | -88.3% |
| Suppliers | 440/4 | €244,356 | €28,518 | -€215,837 | -88.3% |
| Taxes, remuneration and social security | 45 | €5,999 | €4,727 | -€1,272 | -21.2% |
| Taxes | 450/3 | €5,999 | €4,727 | -€1,272 | -21.2% |
| Other amounts payable | 47/48 | €788,785 | €803,930 | +€15,145 | +1.9% |
| Turnover | 70 | €348,054 | €369,531 | +€21,477 | +6.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €143,420 | €97,089 | -€46,330 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €134,471 | €144,236 | +€9,765 | +7.3% |
| Other operating charges | 640/8 | €13,891 | €15,281 | +€1,390 | +10.0% |
| Gross operating margin | 9900 | €204,635 | €272,442 | +€67,808 | +33.1% |
| Operating profit (loss) | 9901 | €56,272 | €112,926 | +€56,653 | +100.7% |
| Financial income | 75/76B | €3,210 | €2,699 | -€511 | -15.9% |
| Recurring financial income | 75 | €3,210 | €2,699 | -€511 | -15.9% |
| Financial charges | 65/66B | €53,735 | €53,967 | +€232 | +0.4% |
| Recurring financial charges | 65 | €53,735 | €53,967 | +€232 | +0.4% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €5,747 | €61,657 | +€55,910 | +972.8% |
| Income taxes | 67/77 | €1,437 | €15,414 | +€13,977 | +972.8% |
| Profit (loss) for the period | 9904 | €4,310 | €46,243 | +€41,932 | +972.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,310 | €46,243 | +€41,932 | +972.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.