TECOFIN: 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.
TECOFIN
Largest movements
- Current investments +€2.4m
up €2.4m (+207674473.7%), from €1 to €2.4m
- Cash -€2.3m
down €2.3m (-87.9%), from €2.7m to €319,953
mainly Current investments (-€2.4m) and Receivables within one year (-€14,463)
- Reserves +€47,533
up €47,533 (+1.7%), from €2.9m to €2.9m
of which Distributable reserves: +€47,533
- Financial charges -€267,572
down €267,572 (-99.9%), from €267,801 to €230
of which Non-recurring financial charges: -€267,606
- Gross operating margin +€51,185
up €51,185, from -€34,094 to €17,091
- Financial income -€13,439
down €13,439 (-24.6%), from €54,636 to €41,198
- Depreciation -€7,001
down €7,001 (-70.3%), from €9,957 to €2,956
- Taxes +€3,922
up €3,922 (+471.6%), from €832 to €4,753
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 | €3,040,538 | €3,089,768 | +€49,230 | +1.6% |
| Fixed assets | 21/28 | €9,023 | €2,602 | -€6,421 | -71.2% |
| Tangible fixed assets | 22/27 | €9,023 | €2,602 | -€6,421 | -71.2% |
| Plant, machinery and equipment | 23 | €3,655 | €1,436 | -€2,219 | -60.7% |
| Furniture and vehicles | 24 | €5,369 | €1,167 | -€4,202 | -78.3% |
| Current assets | 29/58 | €3,031,514 | €3,087,165 | +€55,651 | +1.8% |
| Amounts receivable after more than one year | 29 | €311,701 | €311,701 | = | 0.0% |
| Other amounts receivable | 291 | €311,701 | €311,701 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €44,975 | €59,437 | +€14,463 | +32.2% |
| Trade receivables | 40 | - | €1,358 | +€1,358 | |
| Other amounts receivable | 41 | €44,975 | €58,079 | +€13,105 | +29.1% |
| Current investments | 50/53 | €1 | €2,367,490 | +€2.4m | +207674473.7% |
| Cash at bank and in hand | 54/58 | €2,651,808 | €319,953 | -€2.3m | -87.9% |
| Deferred charges and accrued income | 490/1 | €23,030 | €28,584 | +€5,554 | +24.1% |
| Total equity and liabilities | 10/49 | €3,040,538 | €3,089,768 | +€49,230 | +1.6% |
| Equity | 10/15 | €2,960,779 | €3,008,312 | +€47,533 | +1.6% |
| Contributions | 10/11 | €100,534 | €100,534 | = | 0.0% |
| Capital | 10 | €100,534 | €100,534 | = | 0.0% |
| Issued capital | 100 | €100,534 | €100,534 | = | 0.0% |
| Reserves | 13 | €2,860,245 | €2,907,778 | +€47,533 | +1.7% |
| Non-distributable reserves | 130/1 | €77,096 | €77,096 | = | 0.0% |
| Legal reserve | 130 | €77,096 | €77,096 | = | 0.0% |
| Distributable reserves | 133 | €2,783,149 | €2,830,682 | +€47,533 | +1.7% |
| Amounts payable | 17/49 | €79,759 | €81,456 | +€1,697 | +2.1% |
| Amounts payable within one year | 42/48 | €72,850 | €72,880 | +€31 | 0.0% |
| Trade debts | 44 | €968 | €998 | +€31 | +3.2% |
| Suppliers | 440/4 | €968 | €998 | +€31 | +3.2% |
| Other amounts payable | 47/48 | €71,882 | €71,882 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6,909 | €8,575 | +€1,666 | +24.1% |
| Non-recurring operating income | 76A | - | €36,932 | +€36,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,957 | €2,956 | -€7,001 | -70.3% |
| Other operating charges | 640/8 | €1,894 | €2,817 | +€924 | +48.8% |
| Gross operating margin | 9900 | -€34,094 | €17,091 | +€51,185 | |
| Operating profit (loss) | 9901 | -€45,945 | €11,318 | +€57,263 | |
| Financial income | 75/76B | €54,636 | €41,198 | -€13,439 | -24.6% |
| Recurring financial income | 75 | €54,636 | €41,198 | -€13,439 | -24.6% |
| Financial charges | 65/66B | €267,801 | €230 | -€267,572 | -99.9% |
| Recurring financial charges | 65 | €196 | €230 | +€34 | +17.5% |
| Non-recurring financial charges | 66B | €267,606 | - | -€267,606 | |
| Profit (loss) for the period before taxes | 9903 | -€259,110 | €52,286 | +€311,396 | |
| Income taxes | 67/77 | €832 | €4,753 | +€3,922 | +471.6% |
| Profit (loss) for the period | 9904 | -€259,942 | €47,533 | +€307,475 | |
| Profit (loss) for the period to be appropriated | 9905 | -€259,942 | €47,533 | +€307,475 |
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 3 October 2026 via checked.be.