TECTRONIC: 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.
TECTRONIC
Largest movements
- Stocks and contracts -€84,308
down €84,308 (-7.5%), from €1.1m to €1.0m
- Intangible fixed assets +€72,877
up €72,877 (+210.6%), from €34,604 to €107,481
- Receivables within one year +€59,313
up €59,313 (+23.3%), from €254,438 to €313,750
of which Other amounts receivable: +€117,118
- Tangible fixed assets +€51,784
up €51,784 (+8.7%), from €591,931 to €643,715
of which Furniture and vehicles: +€51,311
- Cash -€43,950
down €43,950 (-17.3%), from €254,045 to €210,095
mainly Other debts (-€270,354) and Investment in fixed assets (net) (-€181,134)
- Other debts -€270,354
down €270,354 (-100.0%), from €270,354 to €0
- Debts after one year +€233,156
up €233,156 (+29.8%), from €782,661 to €1.0m
- Profit (loss) carried forward +€124,428
up €124,428 (+35.3%), from €352,622 to €477,050
- Current portion of long-term debt -€42,672
down €42,672 (-18.8%), from €226,984 to €184,312
- Gross operating margin -€184,173
down €184,173 (-23.5%), from €784,923 to €600,750
- Financial charges -€77,200
down €77,200 (-62.6%), from €123,355 to €46,155
- Taxes -€37,374
down €37,374 (-35.6%), from €105,104 to €67,729
- Staff costs +€22,582
up €22,582 (+12.3%), from €182,925 to €205,507
- Depreciation +€18,021
up €18,021 (+38.5%), from €46,852 to €64,873
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 | €2,265,103 | €2,310,219 | +€45,116 | +2.0% |
| Fixed assets | 21/28 | €634,935 | €751,196 | +€116,261 | +18.3% |
| Intangible fixed assets | 21 | €34,604 | €107,481 | +€72,877 | +210.6% |
| Tangible fixed assets | 22/27 | €591,931 | €643,715 | +€51,784 | +8.7% |
| Land and buildings | 22 | €551,570 | €519,190 | -€32,380 | -5.9% |
| Plant, machinery and equipment | 23 | €27,555 | €30,447 | +€2,892 | +10.5% |
| Furniture and vehicles | 24 | €12,806 | €64,118 | +€51,311 | +400.7% |
| Leasing and similar rights | 25 | - | €29,960 | +€29,960 | |
| Financial fixed assets | 28 | €8,400 | €0 | -€8,400 | -100.0% |
| Current assets | 29/58 | €1,630,168 | €1,559,023 | -€71,145 | -4.4% |
| Stocks and contracts in progress | 3 | €1,118,783 | €1,034,476 | -€84,308 | -7.5% |
| Stocks | 30/36 | €1,118,783 | €1,034,476 | -€84,308 | -7.5% |
| Amounts receivable within one year | 40/41 | €254,438 | €313,750 | +€59,313 | +23.3% |
| Trade receivables | 40 | €254,356 | €196,551 | -€57,805 | -22.7% |
| Other amounts receivable | 41 | €81 | €117,200 | +€117,118 | +144021.4% |
| Cash at bank and in hand | 54/58 | €254,045 | €210,095 | -€43,950 | -17.3% |
| Deferred charges and accrued income | 490/1 | €2,903 | €702 | -€2,201 | -75.8% |
| Total equity and liabilities | 10/49 | €2,265,103 | €2,310,219 | +€45,116 | +2.0% |
| Equity | 10/15 | €873,682 | €998,110 | +€124,428 | +14.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €502,460 | €502,460 | = | 0.0% |
| Distributable reserves | 133 | €502,460 | €502,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €352,622 | €477,050 | +€124,428 | +35.3% |
| Amounts payable | 17/49 | €1,391,421 | €1,312,109 | -€79,312 | -5.7% |
| Amounts payable after more than one year | 17 | €782,661 | €1,015,818 | +€233,156 | +29.8% |
| Financial debts | 170/4 | €782,661 | €1,015,818 | +€233,156 | +29.8% |
| Amounts payable within one year | 42/48 | €602,121 | €293,193 | -€308,927 | -51.3% |
| Current portion of amounts payable after more than one year | 42 | €226,984 | €184,312 | -€42,672 | -18.8% |
| Trade debts | 44 | €39,359 | €52,333 | +€12,974 | +33.0% |
| Suppliers | 440/4 | €39,359 | €52,333 | +€12,974 | +33.0% |
| Advances received on contracts in progress | 46 | €1,807 | €0 | -€1,807 | -100.0% |
| Taxes, remuneration and social security | 45 | €63,617 | €56,549 | -€7,068 | -11.1% |
| Taxes | 450/3 | €46,652 | €38,592 | -€8,061 | -17.3% |
| Remuneration and social security | 454/9 | €16,965 | €17,957 | +€992 | +5.9% |
| Other amounts payable | 47/48 | €270,354 | €0 | -€270,354 | -100.0% |
| Accrued charges and deferred income | 492/3 | €6,640 | €3,098 | -€3,542 | -53.3% |
| Non-recurring operating income | 76A | €44,040 | €0 | -€44,040 | -100.0% |
| Remuneration, social security and pensions | 62 | €182,925 | €205,507 | +€22,582 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,852 | €64,873 | +€18,021 | +38.5% |
| Other operating charges | 640/8 | €16,766 | €17,057 | +€291 | +1.7% |
| Non-recurring operating charges | 66A | €5,423 | €0 | -€5,423 | -100.0% |
| Gross operating margin | 9900 | €784,923 | €600,750 | -€184,173 | -23.5% |
| Operating profit (loss) | 9901 | €532,957 | €313,313 | -€219,644 | -41.2% |
| Financial income | 75/76B | €1,480 | €0 | -€1,480 | -100.0% |
| Recurring financial income | 75 | €1,480 | €0 | -€1,480 | -100.0% |
| Financial charges | 65/66B | €123,355 | €46,155 | -€77,200 | -62.6% |
| Recurring financial charges | 65 | €123,355 | €46,155 | -€77,200 | -62.6% |
| Profit (loss) for the period before taxes | 9903 | €411,082 | €267,158 | -€143,924 | -35.0% |
| Income taxes | 67/77 | €105,104 | €67,729 | -€37,374 | -35.6% |
| Profit (loss) for the period | 9904 | €305,978 | €199,428 | -€106,550 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €305,978 | €199,428 | -€106,550 | -34.8% |
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.