TECHNICAL ENGINEERING & MANAGEMENT ASSOCIATES: 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.
TECHNICAL ENGINEERING & MANAGEMENT ASSOCIATES
Largest movements
- Cash +€159,125
up €159,125 (+345.1%), from €46,112 to €205,236
mainly Net result for the year (+€79,737) and Receivables within one year (+€56,829)
- Receivables within one year -€56,829
down €56,829 (-51.6%), from €110,178 to €53,349
of which Trade receivables: -€46,464
- Reserves +€79,737
up €79,737 (+7.0%), from €1.1m to €1.2m
of which Distributable reserves: +€79,737
- Gross operating margin -€13,899
down €13,899 (-6.8%), from €203,946 to €190,047
- Other operating charges -€10,046
down €10,046 (-73.6%), from €13,654 to €3,608
- Depreciation +€6,163
up €6,163 (+12.6%), from €48,990 to €55,152
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 | €1,349,060 | €1,445,067 | +€96,007 | +7.1% |
| Fixed assets | 21/28 | €1,191,417 | €1,185,049 | -€6,367 | -0.5% |
| Tangible fixed assets | 22/27 | €1,191,417 | €1,185,049 | -€6,367 | -0.5% |
| Land and buildings | 22 | €1,189,398 | €1,184,208 | -€5,190 | -0.4% |
| Furniture and vehicles | 24 | €2,019 | €842 | -€1,177 | -58.3% |
| Current assets | 29/58 | €157,644 | €260,018 | +€102,374 | +64.9% |
| Amounts receivable within one year | 40/41 | €110,178 | €53,349 | -€56,829 | -51.6% |
| Trade receivables | 40 | €46,464 | - | -€46,464 | |
| Other amounts receivable | 41 | €63,714 | €53,349 | -€10,365 | -16.3% |
| Cash at bank and in hand | 54/58 | €46,112 | €205,236 | +€159,125 | +345.1% |
| Deferred charges and accrued income | 490/1 | €1,354 | €1,432 | +€78 | +5.8% |
| Total equity and liabilities | 10/49 | €1,349,060 | €1,445,067 | +€96,007 | +7.1% |
| Equity | 10/15 | €1,152,393 | €1,232,130 | +€79,737 | +6.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,133,801 | €1,213,538 | +€79,737 | +7.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,131,941 | €1,211,678 | +€79,737 | +7.0% |
| Amounts payable | 17/49 | €196,668 | €212,938 | +€16,270 | +8.3% |
| Amounts payable after more than one year | 17 | €70,000 | €70,000 | = | 0.0% |
| Other amounts payable | 178/9 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €126,668 | €142,938 | +€16,270 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €3,206 | - | -€3,206 | |
| Trade debts | 44 | €19,546 | €31,878 | +€12,332 | +63.1% |
| Suppliers | 440/4 | €19,546 | €31,878 | +€12,332 | +63.1% |
| Taxes, remuneration and social security | 45 | €40,042 | €41,264 | +€1,222 | +3.1% |
| Taxes | 450/3 | €40,042 | €41,264 | +€1,222 | +3.1% |
| Other amounts payable | 47/48 | €63,874 | €69,796 | +€5,922 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,990 | €55,152 | +€6,163 | +12.6% |
| Other operating charges | 640/8 | €13,654 | €3,608 | -€10,046 | -73.6% |
| Gross operating margin | 9900 | €203,946 | €190,047 | -€13,899 | -6.8% |
| Operating profit (loss) | 9901 | €141,302 | €131,287 | -€10,015 | -7.1% |
| Financial income | 75/76B | €133 | €10 | -€122 | -92.3% |
| Recurring financial income | 75 | €133 | €10 | -€122 | -92.3% |
| Financial charges | 65/66B | €2,574 | €3,761 | +€1,186 | +46.1% |
| Recurring financial charges | 65 | €2,574 | €3,761 | +€1,186 | +46.1% |
| Profit (loss) for the period before taxes | 9903 | €138,861 | €127,537 | -€11,324 | -8.2% |
| Income taxes | 67/77 | €47,552 | €47,800 | +€248 | +0.5% |
| Profit (loss) for the period | 9904 | €91,309 | €79,737 | -€11,572 | -12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €91,309 | €79,737 | -€11,572 | -12.7% |
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 12 October 2026 via checked.be.