TEDEKOR: 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.
TEDEKOR
Largest movements
- Tangible fixed assets +€851,674
up €851,674 (+25.5%), from €3.3m to €4.2m
of which Land and buildings: +€1.7m
- Current investments -€500,000
down €500,000 (-100%), from €500,000 to €0
- Cash -€65,568
down €65,568 (-59.4%), from €110,365 to €44,797
mainly Investment in fixed assets (net) (-€883,815) and Debts after one year (-€76,519)
- Reserves +€211,862
up €211,862 (+115%), from €184,533 to €396,395
of which Tax-exempt reserves: +€211,862
- Other debts +€123,173
up €123,173 (+35.6%), from €345,842 to €469,015
- Debts after one year -€76,519
down €76,519 (-4.1%), from €1.9m to €1.8m
- Provisions +€52,965
up €52,965 (+116%), from €45,677 to €98,643
- Gross operating margin +€27,935
up €27,935 (+8.2%), from €339,281 to €367,215
- Taxes -€15,432
down €15,432 (-97.8%), from €15,785 to €353
- Depreciation -€11,307
down €11,307 (-26.0%), from €43,448 to €32,141
- Financial income -€7,090
down €7,090 (-65.2%), from €10,882 to €3,791
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.
Derived cash bridge
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 | €4,019,669 | €4,301,186 | +€281,516 | +7.0% |
| Fixed assets | 21/28 | €3,342,958 | €4,194,631 | +€851,674 | +25.5% |
| Tangible fixed assets | 22/27 | €3,342,958 | €4,194,631 | +€851,674 | +25.5% |
| Land and buildings | 22 | €2,468,176 | €4,194,631 | +€1.7m | +69.9% |
| Furniture and vehicles | 24 | €135 | €0 | -€135 | -100% |
| Assets under construction and advance payments | 27 | €874,647 | €0 | -€874,647 | -100% |
| Current assets | 29/58 | €676,711 | €106,554 | -€570,157 | -84.3% |
| Amounts receivable within one year | 40/41 | €59,929 | €52,554 | -€7,375 | -12.3% |
| Trade receivables | 40 | €1,468 | €15,493 | +€14,025 | +955% |
| Other amounts receivable | 41 | €58,461 | €37,061 | -€21,400 | -36.6% |
| Current investments | 50/53 | €500,000 | €0 | -€500,000 | -100% |
| Cash at bank and in hand | 54/58 | €110,365 | €44,797 | -€65,568 | -59.4% |
| Deferred charges and accrued income | 490/1 | €6,417 | €9,204 | +€2,786 | +43.4% |
| Total equity and liabilities | 10/49 | €4,019,669 | €4,301,186 | +€281,516 | +7.0% |
| Equity | 10/15 | €1,637,649 | €1,823,133 | +€185,484 | +11.3% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Revaluation surpluses | 12 | €562,000 | €562,000 | = | 0.0% |
| Reserves | 13 | €184,533 | €396,395 | +€211,862 | +115% |
| Non-distributable reserves | 130/1 | €1,825 | €1,825 | = | 0.0% |
| Legal reserve | 130 | €1,825 | €1,825 | = | 0.0% |
| Tax-exempt reserves | 132 | €182,709 | €394,571 | +€211,862 | +116% |
| Profit (loss) carried forward | 14 | -€108,884 | -€135,262 | -€26,378 | -24.2% |
| Provisions and deferred taxes | 16 | €45,677 | €98,643 | +€52,965 | +116% |
| Deferred taxes | 168 | €45,677 | €98,643 | +€52,965 | +116% |
| Amounts payable | 17/49 | €2,336,343 | €2,379,410 | +€43,067 | +1.8% |
| Amounts payable after more than one year | 17 | €1,860,887 | €1,784,368 | -€76,519 | -4.1% |
| Financial debts | 170/4 | €1,860,887 | €1,784,368 | -€76,519 | -4.1% |
| Amounts payable within one year | 42/48 | €398,034 | €524,392 | +€126,358 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €25,552 | €26,519 | +€967 | +3.8% |
| Trade debts | 44 | €16,221 | €12,913 | -€3,308 | -20.4% |
| Suppliers | 440/4 | €16,221 | €12,913 | -€3,308 | -20.4% |
| Taxes, remuneration and social security | 45 | €10,419 | €15,946 | +€5,526 | +53.0% |
| Taxes | 450/3 | €8,419 | €14,096 | +€5,676 | +67.4% |
| Remuneration and social security | 454/9 | €2,000 | €1,850 | -€150 | -7.5% |
| Other amounts payable | 47/48 | €345,842 | €469,015 | +€123,173 | +35.6% |
| Accrued charges and deferred income | 492/3 | €77,422 | €70,649 | -€6,773 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,448 | €32,141 | -€11,307 | -26.0% |
| Other operating charges | 640/8 | €18,418 | €16,681 | -€1,736 | -9.4% |
| Non-recurring operating charges | 66A | - | €191 | +€191 | |
| Gross operating margin | 9900 | €339,281 | €367,215 | +€27,935 | +8.2% |
| Operating profit (loss) | 9901 | €277,414 | €318,202 | +€40,787 | +14.7% |
| Financial income | 75/76B | €10,882 | €3,791 | -€7,090 | -65.2% |
| Recurring financial income | 75 | €10,882 | €3,791 | -€7,090 | -65.2% |
| Financial charges | 65/66B | €82,469 | €83,191 | +€722 | +0.9% |
| Recurring financial charges | 65 | €82,469 | €83,191 | +€722 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €205,828 | €238,802 | +€32,974 | +16.0% |
| Transfer from deferred taxes | 780 | €25,644 | €275 | -€25,369 | -98.9% |
| Transfer to deferred taxes | 680 | €46,909 | €53,240 | +€6,331 | +13.5% |
| Income taxes | 67/77 | €15,785 | €353 | -€15,432 | -97.8% |
| Profit (loss) for the period | 9904 | €168,778 | €185,484 | +€16,706 | +9.9% |
| Transfer from tax-exempt reserves | 789 | €79,144 | €1,100 | -€78,044 | -98.6% |
| Transfer to tax-exempt reserves | 689 | €187,636 | €212,962 | +€25,326 | +13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €60,285 | -€26,378 | -€86,663 |
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 29 October 2026 via checked.be.