TEB: 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.
TEB
Largest movements
- Tangible fixed assets +€30,733
up €30,733 (+147%), from €20,900 to €51,632
of which Furniture and vehicles: +€31,502
- Cash +€24,549
up €24,549 (+5.7%), from €427,764 to €452,313
mainly Net result for the year (+€58,704) and Depreciation (+€16,833)
- Profit (loss) carried forward +€58,704
up €58,704 (+28.6%), from €204,926 to €263,630
- Gross operating margin +€19,994
up €19,994 (+27.4%), from €73,039 to €93,032
- Depreciation +€7,237
up €7,237 (+75.4%), from €9,596 to €16,833
- Financial income -€1,315
down €1,315 (-99.6%), from €1,321 to €5
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 | €575,226 | €630,952 | +€55,726 | +9.7% |
| Fixed assets | 21/28 | €20,900 | €51,647 | +€30,748 | +147% |
| Tangible fixed assets | 22/27 | €20,900 | €51,632 | +€30,733 | +147% |
| Plant, machinery and equipment | 23 | €3,669 | €2,900 | -€769 | -21.0% |
| Furniture and vehicles | 24 | €17,231 | €48,732 | +€31,502 | +183% |
| Financial fixed assets | 28 | - | €15 | +€15 | |
| Current assets | 29/58 | €554,327 | €579,305 | +€24,978 | +4.5% |
| Amounts receivable within one year | 40/41 | €3,386 | €2,801 | -€585 | -17.3% |
| Trade receivables | 40 | €1,375 | - | -€1,375 | |
| Other amounts receivable | 41 | €2,011 | €2,801 | +€790 | +39.3% |
| Current investments | 50/53 | €120,000 | €120,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €427,764 | €452,313 | +€24,549 | +5.7% |
| Deferred charges and accrued income | 490/1 | €3,176 | €4,191 | +€1,014 | +31.9% |
| Total equity and liabilities | 10/49 | €575,226 | €630,952 | +€55,726 | +9.7% |
| Equity | 10/15 | €543,113 | €601,817 | +€58,704 | +10.8% |
| Contributions | 10/11 | €188,162 | €188,162 | = | 0.0% |
| Reserves | 13 | €150,025 | €150,025 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €145,025 | €145,025 | = | 0.0% |
| Profit (loss) carried forward | 14 | €204,926 | €263,630 | +€58,704 | +28.6% |
| Amounts payable | 17/49 | €32,114 | €29,135 | -€2,979 | -9.3% |
| Amounts payable within one year | 42/48 | €32,114 | €29,135 | -€2,979 | -9.3% |
| Trade debts | 44 | €3,538 | €2,253 | -€1,285 | -36.3% |
| Suppliers | 440/4 | €3,538 | €2,253 | -€1,285 | -36.3% |
| Taxes, remuneration and social security | 45 | €11,677 | €10,233 | -€1,444 | -12.4% |
| Taxes | 450/3 | €8,481 | €7,019 | -€1,462 | -17.2% |
| Remuneration and social security | 454/9 | €3,196 | €3,215 | +€18 | +0.6% |
| Other amounts payable | 47/48 | €16,899 | €16,648 | -€250 | -1.5% |
| Remuneration, social security and pensions | 62 | - | €252 | +€252 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,596 | €16,833 | +€7,237 | +75.4% |
| Other operating charges | 640/8 | €1,790 | €1,954 | +€163 | +9.1% |
| Gross operating margin | 9900 | €73,039 | €93,032 | +€19,994 | +27.4% |
| Operating profit (loss) | 9901 | €61,652 | €73,993 | +€12,341 | +20.0% |
| Financial income | 75/76B | €1,321 | €5 | -€1,315 | -99.6% |
| Recurring financial income | 75 | €1,321 | €5 | -€1,315 | -99.6% |
| Financial charges | 65/66B | €71 | €84 | +€13 | +18.4% |
| Recurring financial charges | 65 | €71 | €84 | +€13 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €62,902 | €73,915 | +€11,013 | +17.5% |
| Income taxes | 67/77 | €15,505 | €15,210 | -€294 | -1.9% |
| Profit (loss) for the period | 9904 | €47,397 | €58,704 | +€11,307 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,397 | €58,704 | +€11,307 | +23.9% |
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 15 October 2026 via checked.be.