TEC PEOPLE: 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 PEOPLE
Largest movements
- Cash +€132,919
up €132,919 (+36.3%), from €366,141 to €499,060
mainly Net result for the year (+€235,344) and Receivables within one year (+€93,480)
- Receivables within one year -€93,480
down €93,480 (-7.0%), from €1.3m to €1.2m
of which Trade receivables: -€93,520
- Tax, wage and social debts -€238,298
down €238,298 (-36.1%), from €660,710 to €422,412
of which Remuneration and social security: -€236,568
- Reserves +€235,344
up €235,344 (+287.1%), from €81,966 to €317,309
- Trade debts +€68,736
up €68,736 (+583.8%), from €11,775 to €80,511
- Short-term financial debts -€44,165
down €44,165 (-4.4%), from €1.0m to €967,012
- Gross operating margin +€1.1m
up €1.1m (+30.1%), from €3.6m to €4.7m
- Staff costs +€667,541
up €667,541 (+19.4%), from €3.4m to €4.1m
- Taxes +€109,109
up €109,109 (+145.7%), from €74,876 to €183,985
- Financial charges +€81,651
up €81,651 (+145.0%), from €56,301 to €137,952
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,931,179 | €1,963,547 | +€32,369 | +1.7% |
| Fixed assets | 21/28 | €174,550 | €166,320 | -€8,229 | -4.7% |
| Intangible fixed assets | 21 | €120,962 | €104,839 | -€16,122 | -13.3% |
| Tangible fixed assets | 22/27 | €53,588 | €61,481 | +€7,893 | +14.7% |
| Plant, machinery and equipment | 23 | €51,817 | €59,473 | +€7,657 | +14.8% |
| Furniture and vehicles | 24 | €1,771 | €2,008 | +€236 | +13.3% |
| Current assets | 29/58 | €1,756,629 | €1,797,227 | +€40,598 | +2.3% |
| Amounts receivable within one year | 40/41 | €1,338,956 | €1,245,475 | -€93,480 | -7.0% |
| Trade receivables | 40 | €1,336,491 | €1,242,970 | -€93,520 | -7.0% |
| Other amounts receivable | 41 | €2,465 | €2,505 | +€40 | +1.6% |
| Cash at bank and in hand | 54/58 | €366,141 | €499,060 | +€132,919 | +36.3% |
| Deferred charges and accrued income | 490/1 | €51,532 | €52,691 | +€1,160 | +2.3% |
| Total equity and liabilities | 10/49 | €1,931,179 | €1,963,547 | +€32,369 | +1.7% |
| Equity | 10/15 | €82,966 | €318,309 | +€235,344 | +283.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €81,966 | €317,309 | +€235,344 | +287.1% |
| Distributable reserves | 133 | €81,966 | €317,309 | +€235,344 | +287.1% |
| Amounts payable | 17/49 | €1,848,213 | €1,645,238 | -€202,975 | -11.0% |
| Amounts payable within one year | 42/48 | €1,832,698 | €1,618,822 | -€213,876 | -11.7% |
| Financial debts | 43 | €1,011,177 | €967,012 | -€44,165 | -4.4% |
| Credit institutions | 430/8 | €1,011,177 | €967,012 | -€44,165 | -4.4% |
| Trade debts | 44 | €11,775 | €80,511 | +€68,736 | +583.8% |
| Suppliers | 440/4 | €11,775 | €80,511 | +€68,736 | +583.8% |
| Taxes, remuneration and social security | 45 | €660,710 | €422,412 | -€238,298 | -36.1% |
| Taxes | 450/3 | €128,123 | €126,393 | -€1,730 | -1.4% |
| Remuneration and social security | 454/9 | €532,587 | €296,019 | -€236,568 | -44.4% |
| Other amounts payable | 47/48 | €149,037 | €148,887 | -€150 | -0.1% |
| Accrued charges and deferred income | 492/3 | €15,515 | €26,416 | +€10,901 | +70.3% |
| Remuneration, social security and pensions | 62 | €3,447,468 | €4,115,009 | +€667,541 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,571 | €38,621 | +€18,049 | +87.7% |
| Other operating charges | 640/8 | €6,284 | €25,029 | +€18,745 | +298.3% |
| Gross operating margin | 9900 | €3,640,805 | €4,735,939 | +€1.1m | +30.1% |
| Operating profit (loss) | 9901 | €166,482 | €557,281 | +€390,799 | +234.7% |
| Financial charges | 65/66B | €56,301 | €137,952 | +€81,651 | +145.0% |
| Recurring financial charges | 65 | €56,301 | €137,952 | +€81,651 | +145.0% |
| Profit (loss) for the period before taxes | 9903 | €110,181 | €419,329 | +€309,148 | +280.6% |
| Income taxes | 67/77 | €74,876 | €183,985 | +€109,109 | +145.7% |
| Profit (loss) for the period | 9904 | €35,305 | €235,344 | +€200,038 | +566.6% |
| Profit (loss) for the period to be appropriated | 9905 | €35,305 | €235,344 | +€200,038 | +566.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.