TEFICO: 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.
TEFICO
Largest movements
- Cash +€148,436
up €148,436 (+517.1%), from €28,704 to €177,140
mainly Other debts (+€147,705) and Net result for the year (+€114,020)
- Receivables within one year -€49,304
down €49,304 (-16.2%), from €303,910 to €254,605
of which Other amounts receivable: -€42,783
- Tangible fixed assets +€19,985
up €19,985 (+2729.6%), from €732 to €20,717
- Other debts +€147,705
up €147,705 (+227.4%), from €64,949 to €212,654
- Reserves -€65,980
down €65,980 (-13.3%), from €497,302 to €431,322
- Tax, wage and social debts +€44,044
up €44,044 (+3713.4%), from €1,186 to €45,230
- Gross operating margin +€159,511
up €159,511, from -€25,782 to €133,729
- Taxes +€51,751
up €51,751 (+2203.5%), from €2,349 to €54,100
- Financial income +€3,638
up €3,638 (+10.3%), from €35,289 to €38,926
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 | €584,358 | €703,503 | +€119,145 | +20.4% |
| Fixed assets | 21/28 | €250,733 | €270,718 | +€19,985 | +8.0% |
| Tangible fixed assets | 22/27 | €732 | €20,717 | +€19,985 | +2729.6% |
| Furniture and vehicles | 24 | €732 | €20,717 | +€19,985 | +2729.6% |
| Financial fixed assets | 28 | €250,001 | €250,001 | = | 0.0% |
| Current assets | 29/58 | €333,625 | €432,785 | +€99,160 | +29.7% |
| Amounts receivable within one year | 40/41 | €303,910 | €254,605 | -€49,304 | -16.2% |
| Trade receivables | 40 | €10,000 | €3,479 | -€6,521 | -65.2% |
| Other amounts receivable | 41 | €293,910 | €251,127 | -€42,783 | -14.6% |
| Cash at bank and in hand | 54/58 | €28,704 | €177,140 | +€148,436 | +517.1% |
| Deferred charges and accrued income | 490/1 | €1,011 | €1,040 | +€29 | +2.8% |
| Total equity and liabilities | 10/49 | €584,358 | €703,503 | +€119,145 | +20.4% |
| Equity | 10/15 | €503,502 | €437,522 | -€65,980 | -13.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €497,302 | €431,322 | -€65,980 | -13.3% |
| Distributable reserves | 133 | €497,302 | €431,322 | -€65,980 | -13.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €80,856 | €265,982 | +€185,126 | +229.0% |
| Amounts payable within one year | 42/48 | €79,243 | €264,040 | +€184,796 | +233.2% |
| Trade debts | 44 | €13,108 | €6,155 | -€6,953 | -53.0% |
| Suppliers | 440/4 | €13,108 | €6,155 | -€6,953 | -53.0% |
| Taxes, remuneration and social security | 45 | €1,186 | €45,230 | +€44,044 | +3713.4% |
| Taxes | 450/3 | €1,186 | €45,230 | +€44,044 | +3713.4% |
| Other amounts payable | 47/48 | €64,949 | €212,654 | +€147,705 | +227.4% |
| Accrued charges and deferred income | 492/3 | €1,612 | €1,942 | +€329 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €804 | €806 | +€2 | +0.3% |
| Other operating charges | 640/8 | €847 | €1,171 | +€324 | +38.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€25,782 | €133,729 | +€159,511 | |
| Operating profit (loss) | 9901 | -€27,433 | €131,752 | +€159,185 | |
| Financial income | 75/76B | €35,289 | €38,926 | +€3,638 | +10.3% |
| Recurring financial income | 75 | €35,289 | €38,926 | +€3,638 | +10.3% |
| Financial charges | 65/66B | €2,212 | €2,559 | +€348 | +15.7% |
| Recurring financial charges | 65 | €2,212 | €2,559 | +€348 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €5,645 | €168,119 | +€162,475 | +2878.5% |
| Income taxes | 67/77 | €2,349 | €54,100 | +€51,751 | +2203.5% |
| Profit (loss) for the period | 9904 | €3,296 | €114,020 | +€110,724 | +3359.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,296 | €114,020 | +€110,724 | +3359.4% |
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 11 October 2026 via checked.be.