Tefiti: 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.
Tefiti
Largest movements
- Tangible fixed assets +€28,206
up €28,206 (+2,096%), from €1,345 to €29,552
of which Leasing and similar rights: +€26,746
- Cash -€9,844
down €9,844 (-98.5%), from €9,997 to €153
mainly Investment in fixed assets (net) (-€37,373) and Other debts (-€8,042)
- Deferred charges and accrued income +€2,135
new in 2025: €2,135
- Receivables within one year -€2,132
down €2,132 (-71.7%), from €2,973 to €841
of which Trade receivables: -€2,580
- Debts after one year +€16,396
new in 2025: €16,396
- Other debts -€8,042
down €8,042 (-17.6%), from €45,800 to €37,758
- Current portion of long-term debt +€7,108
new in 2025: €7,108
- Profit (loss) carried forward +€4,837
up €4,837 (+12.5%), from -€38,701 to -€33,864
- Tax, wage and social debts -€1,798
down €1,798 (-70.7%), from €2,545 to €747
- Depreciation +€8,199
up €8,199 (+848%), from €967 to €9,166
- Gross operating margin -€4,201
down €4,201 (-19.7%), from €21,365 to €17,164
- Financial charges +€1,086
up €1,086 (+739%), from €147 to €1,233
- Other operating charges +€785
up €785 (+84.7%), from €927 to €1,712
- Taxes +€225
up €225 (+36,938%), from €1 to €226
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 | €14,316 | €32,681 | +€18,365 | +128% |
| Fixed assets | 21/28 | €1,345 | €29,552 | +€28,206 | +2,096% |
| Tangible fixed assets | 22/27 | €1,345 | €29,552 | +€28,206 | +2,096% |
| Plant, machinery and equipment | 23 | - | €2,428 | +€2,428 | |
| Furniture and vehicles | 24 | €1,345 | €379 | -€967 | -71.9% |
| Leasing and similar rights | 25 | - | €26,746 | +€26,746 | |
| Current assets | 29/58 | €12,970 | €3,129 | -€9,841 | -75.9% |
| Amounts receivable within one year | 40/41 | €2,973 | €841 | -€2,132 | -71.7% |
| Trade receivables | 40 | €2,973 | €393 | -€2,580 | -86.8% |
| Other amounts receivable | 41 | - | €448 | +€448 | |
| Cash at bank and in hand | 54/58 | €9,997 | €153 | -€9,844 | -98.5% |
| Deferred charges and accrued income | 490/1 | - | €2,135 | +€2,135 | |
| Total equity and liabilities | 10/49 | €14,316 | €32,681 | +€18,365 | +128% |
| Equity | 10/15 | -€36,201 | -€31,364 | +€4,837 | +13.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,701 | -€33,864 | +€4,837 | +12.5% |
| Amounts payable | 17/49 | €50,517 | €64,045 | +€13,528 | +26.8% |
| Amounts payable after more than one year | 17 | - | €16,396 | +€16,396 | |
| Financial debts | 170/4 | - | €16,396 | +€16,396 | |
| Amounts payable within one year | 42/48 | €50,517 | €47,649 | -€2,867 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | - | €7,108 | +€7,108 | |
| Financial debts | 43 | - | €502 | +€502 | |
| Credit institutions | 430/8 | - | €502 | +€502 | |
| Trade debts | 44 | €2,172 | €1,535 | -€638 | -29.4% |
| Suppliers | 440/4 | €2,172 | €1,535 | -€638 | -29.4% |
| Taxes, remuneration and social security | 45 | €2,545 | €747 | -€1,798 | -70.7% |
| Taxes | 450/3 | €2,545 | €747 | -€1,798 | -70.7% |
| Other amounts payable | 47/48 | €45,800 | €37,758 | -€8,042 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €967 | €9,166 | +€8,199 | +848% |
| Other operating charges | 640/8 | €927 | €1,712 | +€785 | +84.7% |
| Gross operating margin | 9900 | €21,365 | €17,164 | -€4,201 | -19.7% |
| Operating profit (loss) | 9901 | €19,471 | €6,286 | -€13,185 | -67.7% |
| Financial income | 75/76B | €11 | €10 | -€2 | -13.2% |
| Recurring financial income | 75 | €11 | €10 | -€2 | -13.2% |
| Financial charges | 65/66B | €147 | €1,233 | +€1,086 | +739% |
| Recurring financial charges | 65 | €147 | €1,233 | +€1,086 | +739% |
| Profit (loss) for the period before taxes | 9903 | €19,336 | €5,063 | -€14,273 | -73.8% |
| Income taxes | 67/77 | €1 | €226 | +€225 | +36,938% |
| Profit (loss) for the period | 9904 | €19,335 | €4,837 | -€14,498 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,335 | €4,837 | -€14,498 | -75.0% |
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 14 October 2026 via checked.be.