TEC+: 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.
TEC+
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+94.1%), from €1.8m to €3.6m
of which Land and buildings: +€1.7m
- Current investments -€147,213
down €147,213 (-57.3%), from €257,008 to €109,795
- Debts after one year +€1.6m
up €1.6m (+93.0%), from €1.7m to €3.3m
- Reserves +€63,854
up €63,854 (+16.7%), from €382,619 to €446,474
- Financial charges +€39,381
up €39,381 (+113.8%), from €34,615 to €73,996
- Taxes -€12,887
down €12,887 (-34.3%), from €37,590 to €24,703
- Gross operating margin +€7,750
up €7,750 (+3.2%), from €241,082 to €248,832
- Depreciation +€3,693
up €3,693 (+4.5%), from €82,902 to €86,596
- Financial income -€3,484
down €3,484 (-46.7%), from €7,466 to €3,981
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 | €2,186,541 | €3,801,447 | +€1.6m | +73.9% |
| Fixed assets | 21/28 | €1,828,606 | €3,550,122 | +€1.7m | +94.1% |
| Tangible fixed assets | 22/27 | €1,828,606 | €3,550,122 | +€1.7m | +94.1% |
| Land and buildings | 22 | €1,824,952 | €3,547,228 | +€1.7m | +94.4% |
| Plant, machinery and equipment | 23 | €1,214 | €720 | -€494 | -40.7% |
| Furniture and vehicles | 24 | €2,440 | €2,174 | -€267 | -10.9% |
| Current assets | 29/58 | €357,934 | €251,325 | -€106,609 | -29.8% |
| Amounts receivable within one year | 40/41 | €32,287 | €48,241 | +€15,954 | +49.4% |
| Trade receivables | 40 | €32,287 | €33,241 | +€954 | +3.0% |
| Other amounts receivable | 41 | - | €15,000 | +€15,000 | |
| Current investments | 50/53 | €257,008 | €109,795 | -€147,213 | -57.3% |
| Cash at bank and in hand | 54/58 | €67,641 | €91,743 | +€24,103 | +35.6% |
| Deferred charges and accrued income | 490/1 | €998 | €1,545 | +€547 | +54.8% |
| Total equity and liabilities | 10/49 | €2,186,541 | €3,801,447 | +€1.6m | +73.9% |
| Equity | 10/15 | €387,619 | €451,474 | +€63,854 | +16.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €382,619 | €446,474 | +€63,854 | +16.7% |
| Distributable reserves | 133 | €382,619 | €446,474 | +€63,854 | +16.7% |
| Amounts payable | 17/49 | €1,798,921 | €3,349,974 | +€1.6m | +86.2% |
| Amounts payable after more than one year | 17 | €1,702,800 | €3,286,800 | +€1.6m | +93.0% |
| Financial debts | 170/4 | €1,702,800 | €3,286,800 | +€1.6m | +93.0% |
| Amounts payable within one year | 42/48 | €94,324 | €60,667 | -€33,656 | -35.7% |
| Trade debts | 44 | €4,674 | €3,801 | -€873 | -18.7% |
| Suppliers | 440/4 | €4,674 | €3,801 | -€873 | -18.7% |
| Taxes, remuneration and social security | 45 | €51,564 | €20,731 | -€30,833 | -59.8% |
| Taxes | 450/3 | €51,564 | €20,731 | -€30,833 | -59.8% |
| Other amounts payable | 47/48 | €38,086 | €36,136 | -€1,950 | -5.1% |
| Accrued charges and deferred income | 492/3 | €1,798 | €2,507 | +€709 | +39.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,902 | €86,596 | +€3,693 | +4.5% |
| Other operating charges | 640/8 | €2,126 | €3,665 | +€1,539 | +72.4% |
| Gross operating margin | 9900 | €241,082 | €248,832 | +€7,750 | +3.2% |
| Operating profit (loss) | 9901 | €156,054 | €158,572 | +€2,518 | +1.6% |
| Financial income | 75/76B | €7,466 | €3,981 | -€3,484 | -46.7% |
| Recurring financial income | 75 | €7,466 | €3,981 | -€3,484 | -46.7% |
| Financial charges | 65/66B | €34,615 | €73,996 | +€39,381 | +113.8% |
| Recurring financial charges | 65 | €34,615 | €73,996 | +€39,381 | +113.8% |
| Profit (loss) for the period before taxes | 9903 | €128,904 | €88,557 | -€40,347 | -31.3% |
| Income taxes | 67/77 | €37,590 | €24,703 | -€12,887 | -34.3% |
| Profit (loss) for the period | 9904 | €91,314 | €63,854 | -€27,460 | -30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €91,314 | €63,854 | -€27,460 | -30.1% |
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.