TEG EU: 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.
TEG EU
Largest movements
- Receivables within one year -€830,668
down €830,668 (-87.9%), from €945,169 to €114,502
of which Other amounts receivable: -€916,664
- Reserves +€2.2m
up €2.2m (+14316.9%), from €15,104 to €2.2m
of which Distributable reserves: +€2.1m
- Debts after one year -€1.8m
down €1.8m (-23.5%), from €7.6m to €5.8m
- Other debts -€918,793
down €918,793 (-41.9%), from €2.2m to €1.3m
- Accrued charges and deferred income -€258,364
down €258,364 (-81.8%), from €315,737 to €57,373
- Financial income +€2.1m
up €2.1m (+336.5%), from €637,344 to €2.8m
- Financial charges -€192,219
down €192,219 (-22.9%), from €838,747 to €646,528
- Gross operating margin -€189,563
down €189,563 (-87.1%), from €217,753 to €28,190
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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,171,835 | €12,288,600 | -€883,235 | -6.7% |
| Fixed assets | 21/28 | €12,186,054 | €12,172,540 | -€13,514 | -0.1% |
| Financial fixed assets | 28 | €12,186,054 | €12,172,540 | -€13,514 | -0.1% |
| Current assets | 29/58 | €985,781 | €116,060 | -€869,721 | -88.2% |
| Amounts receivable within one year | 40/41 | €945,169 | €114,502 | -€830,668 | -87.9% |
| Trade receivables | 40 | €28,444 | €114,441 | +€85,997 | +302.3% |
| Other amounts receivable | 41 | €916,725 | €61 | -€916,664 | -100.0% |
| Current investments | 50/53 | €22,953 | - | -€22,953 | |
| Cash at bank and in hand | 54/58 | - | €1,559 | +€1,559 | |
| Deferred charges and accrued income | 490/1 | €17,659 | - | -€17,659 | |
| Total equity and liabilities | 10/49 | €13,171,835 | €12,288,600 | -€883,235 | -6.7% |
| Equity | 10/15 | €1,883,104 | €4,045,530 | +€2.2m | +114.8% |
| Contributions | 10/11 | €1,868,000 | €1,868,000 | = | 0.0% |
| Capital | 10 | €1,868,000 | €1,868,000 | = | 0.0% |
| Issued capital | 100 | €1,868,000 | €1,868,000 | = | 0.0% |
| Reserves | 13 | €15,104 | €2,177,530 | +€2.2m | +14316.9% |
| Non-distributable reserves | 130/1 | €15,104 | €125,104 | +€110,000 | +728.3% |
| Legal reserve | 130 | €15,104 | €125,104 | +€110,000 | +728.3% |
| Distributable reserves | 133 | - | €2,052,426 | +€2.1m | |
| Amounts payable | 17/49 | €11,288,731 | €8,243,070 | -€3.0m | -27.0% |
| Amounts payable after more than one year | 17 | €7,583,308 | €5,804,273 | -€1.8m | -23.5% |
| Financial debts | 170/4 | €7,583,308 | €5,804,273 | -€1.8m | -23.5% |
| Amounts payable within one year | 42/48 | €3,389,686 | €2,381,424 | -€1.0m | -29.7% |
| Current portion of amounts payable after more than one year | 42 | €989,571 | €989,571 | = | 0.0% |
| Trade debts | 44 | €207,290 | €107,062 | -€100,228 | -48.4% |
| Suppliers | 440/4 | €207,290 | €107,062 | -€100,228 | -48.4% |
| Taxes, remuneration and social security | 45 | - | €10,759 | +€10,759 | |
| Taxes | 450/3 | - | €10,759 | +€10,759 | |
| Other amounts payable | 47/48 | €2,192,825 | €1,274,032 | -€918,793 | -41.9% |
| Accrued charges and deferred income | 492/3 | €315,737 | €57,373 | -€258,364 | -81.8% |
| Other operating charges | 640/8 | €1,246 | €1,378 | +€132 | +10.6% |
| Gross operating margin | 9900 | €217,753 | €28,190 | -€189,563 | -87.1% |
| Operating profit (loss) | 9901 | €216,507 | €26,812 | -€189,695 | -87.6% |
| Financial income | 75/76B | €637,344 | €2,782,141 | +€2.1m | +336.5% |
| Recurring financial income | 75 | €637,344 | €2,782,141 | +€2.1m | +336.5% |
| Financial charges | 65/66B | €838,747 | €646,528 | -€192,219 | -22.9% |
| Recurring financial charges | 65 | €838,747 | €646,528 | -€192,219 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €15,104 | €2,162,426 | +€2.1m | +14216.9% |
| Profit (loss) for the period | 9904 | €15,104 | €2,162,426 | +€2.1m | +14216.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,104 | €2,162,426 | +€2.1m | +14216.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.