TEGARE: 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.
TEGARE
Largest movements
- Cash -€8,503
down €8,503 (-30.2%), from €28,152 to €19,649
mainly Investment in fixed assets (net) (-€31,289) and Other debts (-€25,017)
- Other debts -€25,017
down €25,017 (-26.8%), from €93,420 to €68,403
- Profit (loss) carried forward +€21,247
up €21,247, from -€36 to €21,211
- Debts after one year -€12,478
down €12,478 (-7.6%), from €163,742 to €151,265
- Gross operating margin +€8,485
up €8,485 (+15.2%), from €55,779 to €64,264
- Depreciation +€6,505
up €6,505 (+22.8%), from €28,497 to €35,002
- Taxes +€1,326
new in 2025: €1,326
- Other operating charges -€1,264
down €1,264 (-40.7%), from €3,106 to €1,842
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 | €305,278 | €292,038 | -€13,240 | -4.3% |
| Formation expenses | 20 | €3,690 | €1,845 | -€1,845 | -50.0% |
| Fixed assets | 21/28 | €261,741 | €259,872 | -€1,868 | -0.7% |
| Tangible fixed assets | 22/27 | €261,741 | €259,872 | -€1,868 | -0.7% |
| Land and buildings | 22 | €193,515 | €181,619 | -€11,896 | -6.1% |
| Plant, machinery and equipment | 23 | €56,769 | €58,593 | +€1,823 | +3.2% |
| Furniture and vehicles | 24 | €11,457 | €19,661 | +€8,204 | +71.6% |
| Current assets | 29/58 | €39,847 | €30,321 | -€9,527 | -23.9% |
| Stocks and contracts in progress | 3 | €7,965 | €7,135 | -€830 | -10.4% |
| Stocks | 30/36 | €7,965 | €7,135 | -€830 | -10.4% |
| Amounts receivable within one year | 40/41 | €2,157 | €1,116 | -€1,042 | -48.3% |
| Trade receivables | 40 | €404 | €0 | -€404 | -100.0% |
| Other amounts receivable | 41 | €1,754 | €1,116 | -€638 | -36.4% |
| Cash at bank and in hand | 54/58 | €28,152 | €19,649 | -€8,503 | -30.2% |
| Deferred charges and accrued income | 490/1 | €1,573 | €2,421 | +€848 | +53.9% |
| Total equity and liabilities | 10/49 | €305,278 | €292,038 | -€13,240 | -4.3% |
| Equity | 10/15 | €24,964 | €46,211 | +€21,247 | +85.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36 | €21,211 | +€21,247 | |
| Amounts payable | 17/49 | €280,314 | €245,827 | -€34,487 | -12.3% |
| Amounts payable after more than one year | 17 | €163,742 | €151,265 | -€12,478 | -7.6% |
| Financial debts | 170/4 | €163,742 | €151,265 | -€12,478 | -7.6% |
| Amounts payable within one year | 42/48 | €116,571 | €94,562 | -€22,009 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €12,280 | €12,478 | +€198 | +1.6% |
| Trade debts | 44 | €2,933 | €5,333 | +€2,399 | +81.8% |
| Suppliers | 440/4 | €2,933 | €5,333 | +€2,399 | +81.8% |
| Advances received on contracts in progress | 46 | - | €1,576 | +€1,576 | |
| Taxes, remuneration and social security | 45 | €7,938 | €6,772 | -€1,166 | -14.7% |
| Taxes | 450/3 | €7,938 | €6,772 | -€1,166 | -14.7% |
| Remuneration and social security | 454/9 | - | €0 | +€0 | |
| Other amounts payable | 47/48 | €93,420 | €68,403 | -€25,017 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,497 | €35,002 | +€6,505 | +22.8% |
| Other operating charges | 640/8 | €3,106 | €1,842 | -€1,264 | -40.7% |
| Gross operating margin | 9900 | €55,779 | €64,264 | +€8,485 | +15.2% |
| Operating profit (loss) | 9901 | €24,176 | €27,420 | +€3,244 | +13.4% |
| Financial income | 75/76B | €558 | €0 | -€558 | -100.0% |
| Recurring financial income | 75 | €558 | €0 | -€558 | -100.0% |
| Financial charges | 65/66B | €5,184 | €4,847 | -€338 | -6.5% |
| Recurring financial charges | 65 | €5,184 | €4,847 | -€338 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €19,550 | €22,573 | +€3,023 | +15.5% |
| Income taxes | 67/77 | - | €1,326 | +€1,326 | |
| Profit (loss) for the period | 9904 | €19,550 | €21,247 | +€1,697 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,550 | €21,247 | +€1,697 | +8.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.