Techspert: 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.
Techspert
Largest movements
- Tangible fixed assets -€181,971
down €181,971 (-13.4%), from €1.4m to €1.2m
of which Plant, machinery and equipment: -€139,551
- Cash -€42,926
down €42,926 (-71.1%), from €60,364 to €17,438
mainly Net result for the year (-€103,403) and Debts after one year (-€88,057)
- Receivables within one year +€26,343
up €26,343 (+21.6%), from €121,763 to €148,106
of which Trade receivables: +€34,834
- Profit (loss) carried forward -€103,403
down €103,403 (-147.3%), from -€70,186 to -€173,589
- Debts after one year -€88,057
down €88,057 (-8.0%), from €1.1m to €1.0m
of which Financial debts: -€88,057
- Gross operating margin +€7,117
up €7,117 (+5.5%), from €128,675 to €135,792
- Depreciation +€1,642
up €1,642 (+0.9%), from €185,059 to €186,701
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 | €1,538,179 | €1,339,625 | -€198,554 | -12.9% |
| Fixed assets | 21/28 | €1,356,052 | €1,174,081 | -€181,971 | -13.4% |
| Tangible fixed assets | 22/27 | €1,356,052 | €1,174,081 | -€181,971 | -13.4% |
| Land and buildings | 22 | €1,015,384 | €976,914 | -€38,470 | -3.8% |
| Plant, machinery and equipment | 23 | €325,116 | €185,565 | -€139,551 | -42.9% |
| Furniture and vehicles | 24 | €15,552 | €11,602 | -€3,950 | -25.4% |
| Current assets | 29/58 | €182,127 | €165,544 | -€16,583 | -9.1% |
| Amounts receivable within one year | 40/41 | €121,763 | €148,106 | +€26,343 | +21.6% |
| Trade receivables | 40 | €109,513 | €144,346 | +€34,834 | +31.8% |
| Other amounts receivable | 41 | €12,250 | €3,759 | -€8,491 | -69.3% |
| Cash at bank and in hand | 54/58 | €60,364 | €17,438 | -€42,926 | -71.1% |
| Total equity and liabilities | 10/49 | €1,538,179 | €1,339,625 | -€198,554 | -12.9% |
| Equity | 10/15 | €237,564 | €134,161 | -€103,403 | -43.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €289,200 | €289,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,200 | €1,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,200 | €1,200 | = | 0.0% |
| Distributable reserves | 133 | €288,000 | €288,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,186 | -€173,589 | -€103,403 | -147.3% |
| Amounts payable | 17/49 | €1,300,615 | €1,205,464 | -€95,151 | -7.3% |
| Amounts payable after more than one year | 17 | €1,106,190 | €1,018,133 | -€88,057 | -8.0% |
| Financial debts | 170/4 | €1,013,990 | €925,933 | -€88,057 | -8.7% |
| Other amounts payable | 178/9 | €92,200 | €92,200 | = | 0.0% |
| Amounts payable within one year | 42/48 | €194,425 | €187,331 | -€7,094 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €158,721 | €171,477 | +€12,755 | +8.0% |
| Trade debts | 44 | €20,719 | €12,325 | -€8,394 | -40.5% |
| Suppliers | 440/4 | €20,719 | €12,325 | -€8,394 | -40.5% |
| Advances received on contracts in progress | 46 | €3,606 | - | -€3,606 | |
| Taxes, remuneration and social security | 45 | €1,840 | €1,840 | = | 0.0% |
| Taxes | 450/3 | €1,840 | €1,840 | = | 0.0% |
| Other amounts payable | 47/48 | €9,539 | €1,689 | -€7,850 | -82.3% |
| Remuneration, social security and pensions | 62 | - | €50 | +€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,059 | €186,701 | +€1,642 | +0.9% |
| Other operating charges | 640/8 | €3,975 | €4,600 | +€626 | +15.7% |
| Gross operating margin | 9900 | €128,675 | €135,792 | +€7,117 | +5.5% |
| Operating profit (loss) | 9901 | -€60,358 | -€55,559 | +€4,799 | +8.0% |
| Financial income | 75/76B | €28 | - | -€28 | |
| Recurring financial income | 75 | €28 | - | -€28 | |
| Financial charges | 65/66B | €47,347 | €47,773 | +€425 | +0.9% |
| Recurring financial charges | 65 | €47,347 | €47,773 | +€425 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€107,677 | -€103,332 | +€4,345 | +4.0% |
| Income taxes | 67/77 | - | €71 | +€71 | |
| Profit (loss) for the period | 9904 | -€107,677 | -€103,403 | +€4,274 | +4.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€107,677 | -€103,403 | +€4,274 | +4.0% |
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 9 October 2026 via checked.be.