TEAL'C: 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.
What changed
TEAL'C
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€9,452
2024 · -€20,070+€29,523
Equity
€433,973
2024 · €424,521+€9,452
Cash
€1,408
2024 · €475+€933
Balance sheet total
€1.2m
2024 · €1.3m-€94,283
Largest movements
Assets
- Tangible fixed assets -€70,550
down €70,550 (-5.7%), from €1.2m to €1.2m
- Receivables within one year -€24,845
down €24,845 (-79.6%), from €31,205 to €6,360
of which Other amounts receivable: -€25,403
Equity and liabilities
- Other debts -€62,323
down €62,323 (-20.0%), from €310,898 to €248,575
- Debts after one year -€51,793
down €51,793 (-20.9%), from €247,498 to €195,705
- Accrued charges and deferred income +€20,229
up €20,229, from €0 to €20,229
Income statement
- Gross operating margin +€40,945
up €40,945 (+61.5%), from €66,625 to €107,570
- Depreciation -€18,409
down €18,409 (-25.6%), from €71,822 to €53,413
- Financial charges +€17,849
up €17,849 (+278.0%), from €6,421 to €24,270
- Taxes +€7,484
up €7,484 (+139.3%), from €5,371 to €12,854
- Other operating charges -€1,357
down €1,357 (-8.6%), from €15,685 to €14,328
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.
Result 2024
-€20,070
Gross operating margin
+€40,945
Depreciation
+€18,409
Other operating charges
+€1,357
Financial income
-€801
Financial charges
-€17,849
Taxes
-€7,484
Deferred taxes and other
-€5,055
Result 2025
€9,452
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.
From operations
+€38,893
Investment
+€17,137
Financing
-€55,098
Cash 2024
€475
From operations (derived)
+€38,893
Net result for the year
+€9,452
Depreciation
+€53,413
Receivables within one year
+€24,845
Deferred charges and accrued income
-€180
Provisions
-€6,748
Trade debts
+€552
Tax, wage and social debts
-€347
Other debts
-€62,323
Accrued charges and deferred income
+€20,229
Investment (derived)
+€17,137
Investment in fixed assets (net)
+€17,137
Financing
-€55,098
Debts after one year
-€51,793
Current portion of long-term debt
-€3,305
Cash 2025
€1,408
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,276,637 | €1,182,354 | -€94,283 | -7.4% |
| Fixed assets | 21/28 | €1,242,237 | €1,171,687 | -€70,550 | -5.7% |
| Tangible fixed assets | 22/27 | €1,242,237 | €1,171,687 | -€70,550 | -5.7% |
| Land and buildings | 22 | €1,242,237 | €1,171,687 | -€70,550 | -5.7% |
| Current assets | 29/58 | €34,400 | €10,667 | -€23,733 | -69.0% |
| Amounts receivable within one year | 40/41 | €31,205 | €6,360 | -€24,845 | -79.6% |
| Trade receivables | 40 | €4,267 | €4,825 | +€557 | +13.1% |
| Other amounts receivable | 41 | €26,938 | €1,535 | -€25,403 | -94.3% |
| Cash at bank and in hand | 54/58 | €475 | €1,408 | +€933 | +196.3% |
| Deferred charges and accrued income | 490/1 | €2,720 | €2,900 | +€180 | +6.6% |
| Total equity and liabilities | 10/49 | €1,276,637 | €1,182,354 | -€94,283 | -7.4% |
| Equity | 10/15 | €424,521 | €433,973 | +€9,452 | +2.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | €28,875 | €28,875 | = | 0.0% |
| Reserves | 13 | €333,646 | €343,098 | +€9,452 | +2.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €235,142 | €214,897 | -€20,245 | -8.6% |
| Distributable reserves | 133 | €92,304 | €122,001 | +€29,697 | +32.2% |
| Provisions and deferred taxes | 16 | €118,882 | €112,133 | -€6,748 | -5.7% |
| Deferred taxes | 168 | €118,882 | €112,133 | -€6,748 | -5.7% |
| Amounts payable | 17/49 | €733,234 | €636,247 | -€96,987 | -13.2% |
| Amounts payable after more than one year | 17 | €247,498 | €195,705 | -€51,793 | -20.9% |
| Financial debts | 170/4 | €247,498 | €195,705 | -€51,793 | -20.9% |
| Amounts payable within one year | 42/48 | €485,736 | €420,313 | -€65,423 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €55,098 | €51,793 | -€3,305 | -6.0% |
| Financial debts | 43 | €80,000 | €80,000 | = | 0.0% |
| Credit institutions | 430/8 | €80,000 | €80,000 | = | 0.0% |
| Trade debts | 44 | €36,390 | €36,943 | +€552 | +1.5% |
| Suppliers | 440/4 | €36,390 | €36,943 | +€552 | +1.5% |
| Taxes, remuneration and social security | 45 | €3,350 | €3,002 | -€347 | -10.4% |
| Taxes | 450/3 | €3,350 | €3,002 | -€347 | -10.4% |
| Other amounts payable | 47/48 | €310,898 | €248,575 | -€62,323 | -20.0% |
| Accrued charges and deferred income | 492/3 | €0 | €20,229 | +€20,229 | |
| Non-recurring operating income | 76A | - | €42,863 | +€42,863 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,822 | €53,413 | -€18,409 | -25.6% |
| Other operating charges | 640/8 | €15,685 | €14,328 | -€1,357 | -8.6% |
| Gross operating margin | 9900 | €66,625 | €107,570 | +€40,945 | +61.5% |
| Operating profit (loss) | 9901 | -€20,883 | €39,828 | +€60,710 | |
| Financial income | 75/76B | €801 | €0 | -€801 | -100.0% |
| Recurring financial income | 75 | €801 | €0 | -€801 | -100.0% |
| Financial charges | 65/66B | €6,421 | €24,270 | +€17,849 | +278.0% |
| Recurring financial charges | 65 | €6,421 | €24,270 | +€17,849 | +278.0% |
| Profit (loss) for the period before taxes | 9903 | -€26,503 | €15,558 | +€42,061 | |
| Transfer from deferred taxes | 780 | €11,803 | €6,748 | -€5,055 | -42.8% |
| Income taxes | 67/77 | €5,371 | €12,854 | +€7,484 | +139.3% |
| Profit (loss) for the period | 9904 | -€20,070 | €9,452 | +€29,523 | |
| Transfer from tax-exempt reserves | 789 | €35,409 | €20,245 | -€15,164 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €15,339 | €29,697 | +€14,358 | +93.6% |
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.