TechNations: 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.
TechNations
Largest movements
- Tangible fixed assets +€2.5m
up €2.5m (+89.6%), from €2.8m to €5.2m
of which Assets under construction and advance payments: +€3.2m
- Cash -€509,616
down €509,616 (-99.7%), from €511,332 to €1,716
mainly Investment in fixed assets (net) (-€2.7m) and Net result for the year (-€684,221)
- Receivables within one year +€212,121
up €212,121 (+161.3%), from €131,481 to €343,601
of which Trade receivables: +€219,671
- Short-term financial debts +€2.3m
up €2.3m (+105.5%), from €2.2m to €4.6m
- Profit (loss) carried forward -€625,167
new in 2025: -€625,167
- Trade debts +€618,432
up €618,432 (+4150.3%), from €14,901 to €633,333
- Depreciation +€174,891
up €174,891 (+401.4%), from €43,567 to €218,458
- Gross operating margin +€174,491
up €174,491, from -€9,545 to €164,946
- Financial income -€112,736
down €112,736 (-92.3%), from €122,099 to €9,363
- Financial charges +€103,719
up €103,719 (+3463.4%), from €2,995 to €106,714
- Other operating charges +€25,145
up €25,145 (+379.8%), from €6,621 to €31,766
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 | €4,802,231 | €7,049,240 | +€2.2m | +46.8% |
| Formation expenses | 20 | €331 | €0 | -€331 | -100.0% |
| Fixed assets | 21/28 | €4,107,025 | €6,598,234 | +€2.5m | +60.7% |
| Tangible fixed assets | 22/27 | €2,766,338 | €5,245,976 | +€2.5m | +89.6% |
| Land and buildings | 22 | €2,766,338 | €2,000,000 | -€766,338 | -27.7% |
| Assets under construction and advance payments | 27 | - | €3,245,976 | +€3.2m | |
| Financial fixed assets | 28 | €1,340,688 | €1,352,259 | +€11,571 | +0.9% |
| Current assets | 29/58 | €694,874 | €451,006 | -€243,868 | -35.1% |
| Amounts receivable after more than one year | 29 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Other amounts receivable | 291 | €50,000 | €100,000 | +€50,000 | +100.0% |
| Amounts receivable within one year | 40/41 | €131,481 | €343,601 | +€212,121 | +161.3% |
| Trade receivables | 40 | €22,329 | €242,000 | +€219,671 | +983.8% |
| Other amounts receivable | 41 | €109,152 | €101,601 | -€7,550 | -6.9% |
| Cash at bank and in hand | 54/58 | €511,332 | €1,716 | -€509,616 | -99.7% |
| Deferred charges and accrued income | 490/1 | €2,062 | €5,688 | +€3,627 | +175.9% |
| Total equity and liabilities | 10/49 | €4,802,231 | €7,049,240 | +€2.2m | +46.8% |
| Equity | 10/15 | €2,459,054 | €1,774,833 | -€684,221 | -27.8% |
| Contributions | 10/11 | €2,400,000 | €2,400,000 | = | 0.0% |
| Reserves | 13 | €59,054 | €0 | -€59,054 | -100.0% |
| Distributable reserves | 133 | €59,054 | €0 | -€59,054 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€625,167 | -€625,167 | |
| Amounts payable | 17/49 | €2,343,176 | €5,274,407 | +€2.9m | +125.1% |
| Amounts payable within one year | 42/48 | €2,343,050 | €5,274,407 | +€2.9m | +125.1% |
| Financial debts | 43 | €2,220,001 | €4,562,789 | +€2.3m | +105.5% |
| Credit institutions | 430/8 | €2,220,001 | €4,562,789 | +€2.3m | +105.5% |
| Trade debts | 44 | €14,901 | €633,333 | +€618,432 | +4150.3% |
| Suppliers | 440/4 | €14,901 | €633,333 | +€618,432 | +4150.3% |
| Taxes, remuneration and social security | 45 | €8,149 | €8,246 | +€97 | +1.2% |
| Taxes | 450/3 | €4,846 | €8,246 | +€3,401 | +70.2% |
| Remuneration and social security | 454/9 | €3,303 | €0 | -€3,303 | -100.0% |
| Other amounts payable | 47/48 | €100,000 | €70,039 | -€29,961 | -30.0% |
| Accrued charges and deferred income | 492/3 | €126 | €0 | -€126 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,567 | €218,458 | +€174,891 | +401.4% |
| Other operating charges | 640/8 | €6,621 | €31,766 | +€25,145 | +379.8% |
| Non-recurring operating charges | 66A | - | €501,298 | +€501,298 | |
| Gross operating margin | 9900 | -€9,545 | €164,946 | +€174,491 | |
| Operating profit (loss) | 9901 | -€59,733 | -€586,576 | -€526,843 | -882.0% |
| Financial income | 75/76B | €122,099 | €9,363 | -€112,736 | -92.3% |
| Recurring financial income | 75 | €122,099 | €9,363 | -€112,736 | -92.3% |
| Financial charges | 65/66B | €2,995 | €106,714 | +€103,719 | +3463.4% |
| Recurring financial charges | 65 | €2,995 | €106,714 | +€103,719 | +3463.4% |
| Profit (loss) for the period before taxes | 9903 | €59,371 | -€683,927 | -€743,298 | |
| Income taxes | 67/77 | €317 | €294 | -€22 | -7.0% |
| Profit (loss) for the period | 9904 | €59,054 | -€684,221 | -€743,276 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,054 | -€684,221 | -€743,276 |
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 8 October 2026 via checked.be.