Te Ora: 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 Ora
Largest movements
- Current investments -€7.1m
down €7.1m (-50.3%), from €14.1m to €7.0m
- Financial fixed assets +€2.8m
up €2.8m (+42.9%), from €6.6m to €9.5m
- Receivables within one year +€2.6m
up €2.6m (+260.3%), from €997,309 to €3.6m
- Cash +€1.6m
up €1.6m (+1233.0%), from €130,624 to €1.7m
mainly Current investments (+€7.1m) and Net result for the year (+€153,792)
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€190,235
down €190,235 (-42.5%), from €447,295 to €257,060
- Taxes -€70,247
down €70,247 (-49.5%), from €142,017 to €71,769
- Gross operating margin -€3,360
down €3,360 (-12.7%), from -€26,452 to -€29,812
- Other operating charges -€543
down €543 (-32.7%), from €1,661 to €1,118
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 | €21,831,608 | €21,831,153 | -€455 | 0.0% |
| Fixed assets | 21/28 | €6,632,075 | €9,478,645 | +€2.8m | +42.9% |
| Financial fixed assets | 28 | €6,632,075 | €9,478,645 | +€2.8m | +42.9% |
| Current assets | 29/58 | €15,199,533 | €12,352,508 | -€2.8m | -18.7% |
| Amounts receivable within one year | 40/41 | €997,309 | €3,593,059 | +€2.6m | +260.3% |
| Other amounts receivable | 41 | €997,309 | €3,593,059 | +€2.6m | +260.3% |
| Current investments | 50/53 | €14,071,600 | €7,000,000 | -€7.1m | -50.3% |
| Cash at bank and in hand | 54/58 | €130,624 | €1,741,236 | +€1.6m | +1233.0% |
| Deferred charges and accrued income | 490/1 | - | €18,214 | +€18,214 | |
| Total equity and liabilities | 10/49 | €21,831,608 | €21,831,153 | -€455 | 0.0% |
| Equity | 10/15 | €21,662,679 | €21,816,471 | +€153,792 | +0.7% |
| Contributions | 10/11 | €21,000,000 | €21,000,000 | = | 0.0% |
| Reserves | 13 | €662,679 | €816,471 | +€153,792 | +23.2% |
| Distributable reserves | 133 | €662,679 | €816,471 | +€153,792 | +23.2% |
| Amounts payable | 17/49 | €168,929 | €14,682 | -€154,247 | -91.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €164,711 | €10,157 | -€154,554 | -93.8% |
| Trade debts | 44 | - | €10,157 | +€10,157 | |
| Suppliers | 440/4 | - | €10,157 | +€10,157 | |
| Taxes, remuneration and social security | 45 | €164,711 | €0 | -€164,711 | -100.0% |
| Taxes | 450/3 | €164,711 | €0 | -€164,711 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,218 | €4,524 | +€307 | +7.3% |
| Other operating charges | 640/8 | €1,661 | €1,118 | -€543 | -32.7% |
| Gross operating margin | 9900 | -€26,452 | -€29,812 | -€3,360 | -12.7% |
| Operating profit (loss) | 9901 | -€28,113 | -€30,930 | -€2,817 | -10.0% |
| Financial income | 75/76B | €447,295 | €257,060 | -€190,235 | -42.5% |
| Recurring financial income | 75 | €447,295 | €257,060 | -€190,235 | -42.5% |
| Financial charges | 65/66B | €476 | €569 | +€93 | +19.6% |
| Recurring financial charges | 65 | €476 | €569 | +€93 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | €418,706 | €225,561 | -€193,145 | -46.1% |
| Income taxes | 67/77 | €142,017 | €71,769 | -€70,247 | -49.5% |
| Profit (loss) for the period | 9904 | €276,689 | €153,792 | -€122,898 | -44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €276,689 | €153,792 | -€122,898 | -44.4% |
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 29 September 2026 via checked.be.