TEG ELEC REFLEX: 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.
TEG ELEC REFLEX
Largest movements
- Receivables within one year +€30,149
up €30,149 (+630%), from €4,787 to €34,936
of which Trade receivables: +€20,004
- Tangible fixed assets -€5,397
down €5,397 (-73.0%), from €7,392 to €1,996
- Cash -€1,608
down €1,608 (-15.5%), from €10,360 to €8,752
mainly Receivables within one year (-€30,149)
- Trade debts +€13,745
up €13,745 (+1,471%), from €934 to €14,679
- Advances received +€6,493
up €6,493 (+453%), from €1,434 to €7,927
- Profit (loss) carried forward +€2,907
up €2,907 (+33.2%), from €8,764 to €11,671
- Gross operating margin -€3,431
down €3,431 (-27.1%), from €12,682 to €9,251
- Taxes -€3,234
no longer reported in 2025 (was €3,234)
- Other operating charges +€136
up €136 (+21.6%), from €629 to €765
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 | €22,539 | €45,683 | +€23,145 | +103% |
| Fixed assets | 21/28 | €7,392 | €1,996 | -€5,397 | -73.0% |
| Tangible fixed assets | 22/27 | €7,392 | €1,996 | -€5,397 | -73.0% |
| Furniture and vehicles | 24 | €7,392 | €1,996 | -€5,397 | -73.0% |
| Current assets | 29/58 | €15,146 | €43,688 | +€28,541 | +188% |
| Amounts receivable within one year | 40/41 | €4,787 | €34,936 | +€30,149 | +630% |
| Trade receivables | 40 | €1,295 | €21,299 | +€20,004 | +1,545% |
| Other amounts receivable | 41 | €3,492 | €13,637 | +€10,146 | +291% |
| Cash at bank and in hand | 54/58 | €10,360 | €8,752 | -€1,608 | -15.5% |
| Total equity and liabilities | 10/49 | €22,539 | €45,683 | +€23,145 | +103% |
| Equity | 10/15 | €10,764 | €13,671 | +€2,907 | +27.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,764 | €11,671 | +€2,907 | +33.2% |
| Amounts payable | 17/49 | €11,775 | €32,012 | +€20,238 | +172% |
| Amounts payable within one year | 42/48 | €11,775 | €32,012 | +€20,238 | +172% |
| Trade debts | 44 | €934 | €14,679 | +€13,745 | +1,471% |
| Suppliers | 440/4 | €934 | €14,679 | +€13,745 | +1,471% |
| Advances received on contracts in progress | 46 | €1,434 | €7,927 | +€6,493 | +453% |
| Taxes, remuneration and social security | 45 | €9,407 | €9,407 | = | 0.0% |
| Taxes | 450/3 | €1,407 | €1,407 | = | 0.0% |
| Remuneration and social security | 454/9 | €8,000 | €8,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,363 | €5,397 | +€34 | +0.6% |
| Other operating charges | 640/8 | €629 | €765 | +€136 | +21.6% |
| Gross operating margin | 9900 | €12,682 | €9,251 | -€3,431 | -27.1% |
| Operating profit (loss) | 9901 | €6,690 | €3,089 | -€3,601 | -53.8% |
| Financial charges | 65/66B | €144 | €183 | +€38 | +26.7% |
| Recurring financial charges | 65 | €144 | €183 | +€38 | +26.7% |
| Profit (loss) for the period before taxes | 9903 | €6,546 | €2,907 | -€3,639 | -55.6% |
| Income taxes | 67/77 | €3,234 | - | -€3,234 | |
| Profit (loss) for the period | 9904 | €3,312 | €2,907 | -€405 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €3,312 | €2,907 | -€405 | -12.2% |
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 26 October 2026 via checked.be.