TEFAMI: 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.
TEFAMI
Largest movements
- Financial fixed assets -€21,499
down €21,499 (-15.1%), from €142,500 to €121,001
- Receivables within one year -€9,629
down €9,629 (-99.8%), from €9,645 to €16
of which Trade receivables: -€9,325
- Cash -€4,388
down €4,388 (-15.5%), from €28,238 to €23,850
mainly Net result for the year (-€138,150) and Advances received (-€29,274)
- Profit (loss) carried forward -€138,150
down €138,150 (-24.5%), from -€564,149 to -€702,299
- Accrued charges and deferred income +€134,259
up €134,259 (+1569.6%), from €8,554 to €142,813
- Advances received -€29,274
down €29,274 (-100.0%), from €29,274 to €0
- Trade debts -€2,352
down €2,352 (-98.1%), from €2,397 to €45
- Financial charges -€651,336
down €651,336 (-80.4%), from €810,014 to €158,678
of which Financial charges: -€672,836
- Write-downs -€41,129
down €41,129, from €20,565 to -€20,565
- Gross operating margin -€14,300
down €14,300, from €14,213 to -€88
- Taxes -€2,577
down €2,577 (-100.0%), from €2,577 to €0
- Other operating charges -€293
down €293 (-100.0%), from €293 to €0
From the 30-09-2024 result to the 30-09-2025 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 30-09-2024 and 30-09-2025 balance sheets and the 30-09-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 30-09-2024 | 30-09-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €180,383 | €144,866 | -€35,517 | -19.7% |
| Fixed assets | 21/28 | €142,500 | €121,001 | -€21,499 | -15.1% |
| Financial fixed assets | 28 | €142,500 | €121,001 | -€21,499 | -15.1% |
| Current assets | 29/58 | €37,883 | €23,865 | -€14,017 | -37.0% |
| Amounts receivable within one year | 40/41 | €9,645 | €16 | -€9,629 | -99.8% |
| Trade receivables | 40 | €9,325 | €0 | -€9,325 | -100.0% |
| Other amounts receivable | 41 | €320 | €16 | -€304 | -95.2% |
| Cash at bank and in hand | 54/58 | €28,238 | €23,850 | -€4,388 | -15.5% |
| Total equity and liabilities | 10/49 | €180,383 | €144,866 | -€35,517 | -19.7% |
| Equity | 10/15 | -€551,272 | -€689,421 | -€138,150 | -25.1% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €5,378 | €5,378 | = | 0.0% |
| Distributable reserves | 133 | €5,378 | €5,378 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€564,149 | -€702,299 | -€138,150 | -24.5% |
| Amounts payable | 17/49 | €731,654 | €834,287 | +€102,633 | +14.0% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 170/4 | €125,000 | €125,000 | = | 0.0% |
| Other amounts payable | 178/9 | €75,000 | €75,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €523,101 | €491,474 | -€31,626 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €439,190 | €439,190 | = | 0.0% |
| Trade debts | 44 | €2,397 | €45 | -€2,352 | -98.1% |
| Suppliers | 440/4 | €2,397 | €45 | -€2,352 | -98.1% |
| Advances received on contracts in progress | 46 | €29,274 | €0 | -€29,274 | -100.0% |
| Taxes, remuneration and social security | 45 | €51,756 | €51,755 | -€0 | 0.0% |
| Taxes | 450/3 | €51,756 | €51,755 | -€0 | 0.0% |
| Other amounts payable | 47/48 | €484 | €484 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €8,554 | €142,813 | +€134,259 | +1569.6% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,565 | -€20,565 | -€41,129 | |
| Other operating charges | 640/8 | €293 | €0 | -€293 | -100.0% |
| Gross operating margin | 9900 | €14,213 | -€88 | -€14,300 | |
| Operating profit (loss) | 9901 | -€6,644 | €20,477 | +€27,121 | |
| Financial income | 75/76B | - | €52 | +€52 | |
| Recurring financial income | 75 | - | €52 | +€52 | |
| Financial charges | 65/66B | €810,014 | €158,678 | -€651,336 | -80.4% |
| Recurring financial charges | 65 | €810,014 | €137,179 | -€672,836 | -83.1% |
| Non-recurring financial charges | 66B | - | €21,499 | +€21,499 | |
| Profit (loss) for the period before taxes | 9903 | -€816,658 | -€138,150 | +€678,509 | +83.1% |
| Income taxes | 67/77 | €2,577 | €0 | -€2,577 | -100.0% |
| Profit (loss) for the period | 9904 | -€819,235 | -€138,150 | +€681,086 | +83.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€819,235 | -€138,150 | +€681,086 | +83.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.