TECO: 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.
What changed
TECO
NACE 27.120, Manufacture of electrical equipment
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€4.7m
2024 · €4.6m+€63,995
Equity
€16.9m
2024 · €12.2m+€4.7m
Cash
€333,982
2024 · €2.6m-€2.3m
Balance sheet total
€19.8m
2024 · €15.1m+€4.7m
Largest movements
Assets
- Receivables within one year +€7.7m
up €7.7m (+96.9%), from €7.9m to €15.6m
of which Other amounts receivable: +€7.1m
- Cash -€2.3m
down €2.3m (-87.1%), from €2.6m to €333,982
mainly Receivables within one year (-€7.7m) and Tax, wage and social debts (-€309,736)
- Tangible fixed assets -€593,131
down €593,131 (-24.7%), from €2.4m to €1.8m
of which Plant, machinery and equipment: -€542,541
Equity and liabilities
- Profit (loss) carried forward +€4.7m
up €4.7m (+39.3%), from €12.0m to €16.6m
- Trade debts +€379,256
up €379,256 (+38.9%), from €974,278 to €1.4m
- Tax, wage and social debts -€309,736
down €309,736 (-18.0%), from €1.7m to €1.4m
of which Taxes: -€354,692
Income statement
- Gross operating margin -€8.1m
no longer reported in 2025 (was €8.1m)
- Goods and materials +€6.8m
new in 2025: €6.8m
of which Purchases: +€6.7m
- Services and other goods +€1.8m
new in 2025: €1.8m
- Staff costs +€313,395
up €313,395 (+26.1%), from €1.2m to €1.5m
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.
Result 2024
€4.6m
Turnover
+€138,959
Other operating income
+€17,819
Goods and materials
-€6.8m
Services and other goods
-€1.8m
Staff costs
-€313,395
Depreciation
+€19,597
Other operating charges
-€9,062
Other operating items
+€8.7m
Financial income
+€29,872
Financial charges
+€1,559
Taxes
-€9,357
Result 2025
€4.7m
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.
From operations
-€2.0m
Investment
-€186,072
Financing
-€107,363
Cash 2024
€2.6m
From operations (derived)
-€2.0m
Net result for the year
+€4.7m
Depreciation
+€791,203
Stocks and contracts
+€97,838
Receivables within one year
-€7.7m
Smaller working-capital items
-€3,456
Provisions
+€55,000
Trade debts
+€379,256
Tax, wage and social debts
-€309,736
Investment (derived)
-€186,072
Investment in fixed assets (net)
-€186,072
Financing
-€107,363
Debts after one year
-€70,112
Current portion of long-term debt
-€37,252
Cash 2025
€333,982
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,094,082 | €19,800,149 | +€4.7m | +31.2% |
| Fixed assets | 21/28 | €2,464,236 | €1,859,105 | -€605,131 | -24.6% |
| Intangible fixed assets | 21 | €60,000 | €48,000 | -€12,000 | -20.0% |
| Tangible fixed assets | 22/27 | €2,404,236 | €1,811,105 | -€593,131 | -24.7% |
| Land and buildings | 22 | €834,459 | €887,045 | +€52,586 | +6.3% |
| Plant, machinery and equipment | 23 | €1,336,911 | €794,370 | -€542,541 | -40.6% |
| Furniture and vehicles | 24 | €89,941 | €107,325 | +€17,384 | +19.3% |
| Leasing and similar rights | 25 | €142,925 | €22,365 | -€120,560 | -84.4% |
| Current assets | 29/58 | €12,629,846 | €17,941,045 | +€5.3m | +42.1% |
| Stocks and contracts in progress | 3 | €2,119,996 | €2,022,158 | -€97,838 | -4.6% |
| Stocks | 30/36 | €2,119,996 | €2,022,158 | -€97,838 | -4.6% |
| Raw materials and consumables | 30/31 | - | €1,006,728 | +€1.0m | |
| Work in progress | 32 | - | €487,716 | +€487,716 | |
| Finished goods | 33 | - | €55,026 | +€55,026 | |
| Goods purchased for resale | 34 | - | €472,687 | +€472,687 | |
| Amounts receivable within one year | 40/41 | €7,911,659 | €15,580,135 | +€7.7m | +96.9% |
| Trade receivables | 40 | €1,217,054 | €1,751,997 | +€534,943 | +44.0% |
| Other amounts receivable | 41 | €6,694,605 | €13,828,138 | +€7.1m | +106.6% |
| Cash at bank and in hand | 54/58 | €2,592,551 | €333,982 | -€2.3m | -87.1% |
| Deferred charges and accrued income | 490/1 | €5,640 | €4,770 | -€870 | -15.4% |
| Total equity and liabilities | 10/49 | €15,094,082 | €19,800,149 | +€4.7m | +31.2% |
| Equity | 10/15 | €12,183,137 | €16,876,374 | +€4.7m | +38.5% |
| Contributions | 10/11 | €156,867 | €156,867 | = | 0.0% |
| Capital | 10 | €156,867 | €156,867 | = | 0.0% |
| Issued capital | 100 | €156,867 | €156,867 | = | 0.0% |
| Reserves | 13 | €69,515 | €69,515 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,687 | €15,687 | = | 0.0% |
| Legal reserve | 130 | €15,687 | €15,687 | = | 0.0% |
| Distributable reserves | 133 | €53,828 | €53,828 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,956,755 | €16,649,991 | +€4.7m | +39.3% |
| Provisions and deferred taxes | 16 | - | €55,000 | +€55,000 | |
| Provisions for liabilities and charges | 160/5 | - | €55,000 | +€55,000 | |
| Other liabilities and charges | 164/5 | - | €55,000 | +€55,000 | |
| Amounts payable | 17/49 | €2,910,945 | €2,868,776 | -€42,169 | -1.4% |
| Amounts payable after more than one year | 17 | €103,809 | €33,697 | -€70,112 | -67.5% |
| Financial debts | 170/4 | €103,809 | €33,697 | -€70,112 | -67.5% |
| Leasing and similar obligations | 172 | - | €33,697 | +€33,697 | |
| Amounts payable within one year | 42/48 | €2,798,445 | €2,830,713 | +€32,269 | +1.2% |
| Current portion of amounts payable after more than one year | 42 | €107,363 | €70,112 | -€37,252 | -34.7% |
| Trade debts | 44 | €974,278 | €1,353,534 | +€379,256 | +38.9% |
| Suppliers | 440/4 | €974,278 | €1,353,534 | +€379,256 | +38.9% |
| Taxes, remuneration and social security | 45 | €1,716,804 | €1,407,068 | -€309,736 | -18.0% |
| Taxes | 450/3 | €1,530,044 | €1,175,352 | -€354,692 | -23.2% |
| Remuneration and social security | 454/9 | €186,760 | €231,716 | +€44,956 | +24.1% |
| Accrued charges and deferred income | 492/3 | €8,691 | €4,365 | -€4,326 | -49.8% |
| Operating income | 70/76A | - | €16,977,886 | +€17.0m | |
| Turnover | 70 | €16,884,043 | €17,023,002 | +€138,959 | +0.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | - | -€62,935 | -€62,935 | |
| Other operating income | 74 | - | €17,819 | +€17,819 | |
| Operating charges | 60/66A | - | €10,929,089 | +€10.9m | |
| Goods, raw materials, services and sundry goods | 60/61 | €8,914,456 | - | -€8.9m | |
| Goods for resale, raw materials and consumables | 60 | - | €6,777,049 | +€6.8m | |
| Purchases | 600/8 | - | €6,742,146 | +€6.7m | |
| Change in stocks: decrease (increase) | 609 | - | €34,903 | +€34,903 | |
| Services and other goods | 61 | - | €1,753,201 | +€1.8m | |
| Remuneration, social security and pensions | 62 | €1,202,888 | €1,516,283 | +€313,395 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €810,801 | €791,203 | -€19,597 | -2.4% |
| Other operating charges | 640/8 | €27,291 | €36,353 | +€9,062 | +33.2% |
| Non-recurring operating charges | 66A | €60,385 | €55,000 | -€5,385 | -8.9% |
| Gross operating margin | 9900 | €8,108,241 | - | -€8.1m | |
| Operating profit (loss) | 9901 | €6,006,877 | €6,048,797 | +€41,921 | +0.7% |
| Financial income | 75/76B | €200,648 | €230,521 | +€29,872 | +14.9% |
| Recurring financial income | 75 | €200,648 | €230,521 | +€29,872 | +14.9% |
| Income from current assets | 751 | - | €230,133 | +€230,133 | |
| Other financial income | 752/9 | - | €387 | +€387 | |
| Financial charges | 65/66B | €10,089 | €8,531 | -€1,559 | -15.4% |
| Recurring financial charges | 65 | €10,089 | €8,531 | -€1,559 | -15.4% |
| Debt charges | 650 | - | €3,508 | +€3,508 | |
| Other financial charges | 652/9 | - | €5,022 | +€5,022 | |
| Profit (loss) for the period before taxes | 9903 | €6,197,435 | €6,270,787 | +€73,352 | +1.2% |
| Income taxes | 67/77 | €1,568,194 | €1,577,551 | +€9,357 | +0.6% |
| Taxes | 670/3 | - | €1,577,551 | +€1.6m | |
| Profit (loss) for the period | 9904 | €4,629,242 | €4,693,236 | +€63,995 | +1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,629,242 | €4,693,236 | +€63,995 | +1.4% |
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 5 October 2026 via checked.be.