TE-PA: 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.
TE-PA
Largest movements
- Cash -€35,293
down €35,293 (-79.7%), from €44,258 to €8,965
mainly Net result for the year (-€71,544) and Receivables within one year (-€8,803)
- Deferred charges and accrued income -€14,888
down €14,888 (-92.6%), from €16,081 to €1,193
- Tangible fixed assets -€9,901
down €9,901 (-26.6%), from €37,283 to €27,382
of which Furniture and vehicles: -€9,653
- Receivables within one year +€8,803
up €8,803 (+15.8%), from €55,728 to €64,531
of which Other amounts receivable: +€9,987
- Receivables after one year -€8,221
down €8,221 (-26.5%), from €30,983 to €22,762
- Profit (loss) carried forward -€71,544
down €71,544 (-5,779%), from -€1,238 to -€72,782
- Trade debts +€6,623
up €6,623 (+1,630%), from €406 to €7,030
- Tax, wage and social debts +€5,420
new in 2025: €5,420
of which Remuneration and social security: +€5,347
- Gross operating margin -€53,425
down €53,425, from €35,249 to -€18,176
- Staff costs +€11,329
up €11,329 (+39.9%), from €28,393 to €39,722
- Depreciation -€2,968
down €2,968 (-23.1%), from €12,870 to €9,901
- Other operating charges +€2,458
up €2,458 (+374%), from €657 to €3,115
- Taxes +€760
up €760 (+243%), from €313 to €1,073
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 | €184,333 | €124,832 | -€59,501 | -32.3% |
| Fixed assets | 21/28 | €37,283 | €27,382 | -€9,901 | -26.6% |
| Tangible fixed assets | 22/27 | €37,283 | €27,382 | -€9,901 | -26.6% |
| Plant, machinery and equipment | 23 | €443 | €195 | -€248 | -56.1% |
| Furniture and vehicles | 24 | €36,840 | €27,187 | -€9,653 | -26.2% |
| Current assets | 29/58 | €147,050 | €97,450 | -€49,600 | -33.7% |
| Amounts receivable after more than one year | 29 | €30,983 | €22,762 | -€8,221 | -26.5% |
| Other amounts receivable | 291 | €30,983 | €22,762 | -€8,221 | -26.5% |
| Amounts receivable within one year | 40/41 | €55,728 | €64,531 | +€8,803 | +15.8% |
| Trade receivables | 40 | €38,361 | €37,176 | -€1,184 | -3.1% |
| Other amounts receivable | 41 | €17,367 | €27,354 | +€9,987 | +57.5% |
| Cash at bank and in hand | 54/58 | €44,258 | €8,965 | -€35,293 | -79.7% |
| Deferred charges and accrued income | 490/1 | €16,081 | €1,193 | -€14,888 | -92.6% |
| Total equity and liabilities | 10/49 | €184,333 | €124,832 | -€59,501 | -32.3% |
| Equity | 10/15 | €183,927 | €112,382 | -€71,544 | -38.9% |
| Reserves | 13 | €185,165 | €185,165 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €183,305 | €183,305 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,238 | -€72,782 | -€71,544 | -5,779% |
| Amounts payable | 17/49 | €406 | €12,450 | +€12,043 | +2,963% |
| Amounts payable within one year | 42/48 | €406 | €12,450 | +€12,043 | +2,963% |
| Trade debts | 44 | €406 | €7,030 | +€6,623 | +1,630% |
| Suppliers | 440/4 | €406 | €7,030 | +€6,623 | +1,630% |
| Taxes, remuneration and social security | 45 | - | €5,420 | +€5,420 | |
| Taxes | 450/3 | - | €73 | +€73 | |
| Remuneration and social security | 454/9 | - | €5,347 | +€5,347 | |
| Remuneration, social security and pensions | 62 | €28,393 | €39,722 | +€11,329 | +39.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,870 | €9,901 | -€2,968 | -23.1% |
| Other operating charges | 640/8 | €657 | €3,115 | +€2,458 | +374% |
| Gross operating margin | 9900 | €35,249 | -€18,176 | -€53,425 | |
| Operating profit (loss) | 9901 | -€6,670 | -€70,914 | -€64,244 | -963% |
| Financial income | 75/76B | €425 | €723 | +€298 | +70.0% |
| Recurring financial income | 75 | €425 | €723 | +€298 | +70.0% |
| Financial charges | 65/66B | €153 | €280 | +€127 | +82.9% |
| Recurring financial charges | 65 | €153 | €280 | +€127 | +82.9% |
| Profit (loss) for the period before taxes | 9903 | -€6,398 | -€70,472 | -€64,074 | -1,001% |
| Income taxes | 67/77 | €313 | €1,073 | +€760 | +243% |
| Profit (loss) for the period | 9904 | -€6,711 | -€71,544 | -€64,833 | -966% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,711 | -€71,544 | -€64,833 | -966% |
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 13 October 2026 via checked.be.