TEC: 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.
TEC
Largest movements
- Tangible fixed assets +€71,529
up €71,529 (+6065.4%), from €1,179 to €72,709
of which Furniture and vehicles: +€69,805
- Cash -€61,343
down €61,343 (-49.4%), from €124,110 to €62,767
mainly Investment in fixed assets (net) (-€81,443) and Other debts (-€60,000)
- Receivables within one year +€11,217
up €11,217 (+17.4%), from €64,472 to €75,689
of which Other amounts receivable: +€17,390
- Current investments -€6,278
down €6,278 (-5.2%), from €120,006 to €113,728
- Other debts -€60,000
no longer reported in 2025 (was €60,000)
- Reserves +€54,505
up €54,505 (+26.2%), from €207,857 to €262,363
- Debts after one year +€39,438
new in 2025: €39,438
- Tax, wage and social debts -€27,925
down €27,925 (-75.5%), from €36,970 to €9,046
- Current portion of long-term debt +€10,461
new in 2025: €10,461
- Gross operating margin +€28,749
up €28,749 (+33.1%), from €86,921 to €115,670
- Financial income +€14,634
up €14,634 (+1479.4%), from €989 to €15,623
- Depreciation +€8,761
up €8,761 (+760.6%), from €1,152 to €9,913
- Taxes +€4,823
up €4,823 (+23.4%), from €20,642 to €25,464
- Financial charges +€1,191
up €1,191 (+1202.3%), from €99 to €1,290
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 | €309,768 | €324,893 | +€15,125 | +4.9% |
| Fixed assets | 21/28 | €1,179 | €72,709 | +€71,529 | +6065.4% |
| Tangible fixed assets | 22/27 | €1,179 | €72,709 | +€71,529 | +6065.4% |
| Plant, machinery and equipment | 23 | - | €1,725 | +€1,725 | |
| Furniture and vehicles | 24 | €1,179 | €70,984 | +€69,805 | +5919.2% |
| Current assets | 29/58 | €308,589 | €252,185 | -€56,404 | -18.3% |
| Amounts receivable within one year | 40/41 | €64,472 | €75,689 | +€11,217 | +17.4% |
| Trade receivables | 40 | €34,049 | €27,876 | -€6,173 | -18.1% |
| Other amounts receivable | 41 | €30,423 | €47,813 | +€17,390 | +57.2% |
| Current investments | 50/53 | €120,006 | €113,728 | -€6,278 | -5.2% |
| Cash at bank and in hand | 54/58 | €124,110 | €62,767 | -€61,343 | -49.4% |
| Total equity and liabilities | 10/49 | €309,768 | €324,893 | +€15,125 | +4.9% |
| Equity | 10/15 | €210,257 | €264,763 | +€54,505 | +25.9% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €207,857 | €262,363 | +€54,505 | +26.2% |
| Distributable reserves | 133 | €207,857 | €262,363 | +€54,505 | +26.2% |
| Amounts payable | 17/49 | €99,511 | €60,130 | -€39,380 | -39.6% |
| Amounts payable after more than one year | 17 | - | €39,438 | +€39,438 | |
| Financial debts | 170/4 | - | €39,438 | +€39,438 | |
| Amounts payable within one year | 42/48 | €99,511 | €20,693 | -€78,818 | -79.2% |
| Current portion of amounts payable after more than one year | 42 | - | €10,461 | +€10,461 | |
| Trade debts | 44 | €2,540 | €1,185 | -€1,355 | -53.3% |
| Suppliers | 440/4 | €2,540 | €1,185 | -€1,355 | -53.3% |
| Taxes, remuneration and social security | 45 | €36,970 | €9,046 | -€27,925 | -75.5% |
| Taxes | 450/3 | €36,970 | €9,046 | -€27,925 | -75.5% |
| Other amounts payable | 47/48 | €60,000 | - | -€60,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,152 | €9,913 | +€8,761 | +760.6% |
| Other operating charges | 640/8 | €749 | €120 | -€629 | -84.0% |
| Gross operating margin | 9900 | €86,921 | €115,670 | +€28,749 | +33.1% |
| Operating profit (loss) | 9901 | €85,020 | €105,636 | +€20,616 | +24.2% |
| Financial income | 75/76B | €989 | €15,623 | +€14,634 | +1479.4% |
| Recurring financial income | 75 | €989 | €15,623 | +€14,634 | +1479.4% |
| Financial charges | 65/66B | €99 | €1,290 | +€1,191 | +1202.3% |
| Recurring financial charges | 65 | €99 | €1,290 | +€1,191 | +1202.3% |
| Profit (loss) for the period before taxes | 9903 | €85,911 | €119,970 | +€34,059 | +39.6% |
| Income taxes | 67/77 | €20,642 | €25,464 | +€4,823 | +23.4% |
| Profit (loss) for the period | 9904 | €65,269 | €94,505 | +€29,237 | +44.8% |
| Profit (loss) for the period to be appropriated | 9905 | €65,269 | €94,505 | +€29,237 | +44.8% |
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 10 October 2026 via checked.be.