TEGEC: 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.
What changed
TEGEC
NACE 49.410, Freight transport by road
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€2.8m
2023 · €1.9m+€950,402
Equity
€5.0m
2023 · €3.6m+€1.4m
Cash
€563,561
2023 · €436,913+€126,648
Balance sheet total
€18.8m
2023 · €16.4m+€2.4m
Largest movements
Assets
- Receivables after one year +€4.6m
new in 2024: €4.6m
- Stocks and contracts -€3.0m
down €3.0m (-84.0%), from €3.6m to €577,253
of which Contracts in progress: -€2.8m
- Receivables within one year -€1.9m
down €1.9m (-31.7%), from €6.1m to €4.1m
of which Trade receivables: -€1.6m
- Current investments +€1.7m
up €1.7m (+242.9%), from €700,000 to €2.4m
- Tangible fixed assets +€749,662
up €749,662 (+17.0%), from €4.4m to €5.2m
of which Plant, machinery and equipment: +€939,872
Equity and liabilities
- Profit (loss) carried forward +€1.4m
up €1.4m (+50.7%), from €2.8m to €4.2m
- Trade debts +€1.2m
up €1.2m (+13.1%), from €9.0m to €10.2m
- Current portion of long-term debt -€470,265
down €470,265 (-63.4%), from €742,149 to €271,884
- Debts after one year -€271,884
down €271,884 (-22.5%), from €1.2m to €935,261
- Tax, wage and social debts +€211,740
up €211,740 (+35.8%), from €590,799 to €802,539
of which Taxes: +€172,481
Income statement
- Turnover +€18.0m
up €18.0m (+49.6%), from €36.4m to €54.4m
- Goods and materials +€8.2m
up €8.2m (+38.2%), from €21.4m to €29.6m
of which Purchases: +€7.8m
- Services and other goods +€2.7m
up €2.7m (+44.5%), from €6.1m to €8.8m
From the 2023 result to the 2024 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.
Result 2023
€1.9m
Turnover
+€18.0m
Other operating income
-€210,885
Goods and materials
-€8.2m
Services and other goods
-€2.7m
Staff costs
-€500,177
Depreciation
-€102,116
Other operating charges
-€8,932
Other operating items
-€4.9m
Financial income
-€129,409
Financial charges
-€36,774
Taxes
-€281,668
Deferred taxes and other
-€11,723
Result 2024
€2.8m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€6.6m
Investment
-€4.4m
Financing
-€2.1m
Cash 2023
€436,913
From operations (derived)
+€6.6m
Net result for the year
+€2.8m
Depreciation
+€1.7m
Receivables after one year
-€4.6m
Stocks and contracts
+€3.0m
Receivables within one year
+€1.9m
Deferred charges and accrued income
+€131,181
Provisions
+€4,975
Trade debts
+€1.2m
Tax, wage and social debts
+€211,740
Other debts
+€151,909
Accrued charges and deferred income
+€102,792
Investment (derived)
-€4.4m
Investment in fixed assets (net)
-€2.7m
Current investments
-€1.7m
Financing
-€2.1m
Debts after one year
-€271,884
Current portion of long-term debt
-€470,265
Contributions, distributions and other
-€1.4m
Cash 2024
€563,561
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,444,876 | €18,800,206 | +€2.4m | +14.3% |
| Fixed assets | 21/28 | €5,399,257 | €6,375,679 | +€976,422 | +18.1% |
| Intangible fixed assets | 21 | €27,949 | €21,594 | -€6,355 | -22.7% |
| Tangible fixed assets | 22/27 | €4,413,755 | €5,163,417 | +€749,662 | +17.0% |
| Land and buildings | 22 | €1,650,955 | €1,529,710 | -€121,245 | -7.3% |
| Plant, machinery and equipment | 23 | €1,123,547 | €2,063,419 | +€939,872 | +83.7% |
| Furniture and vehicles | 24 | €1,105,784 | €1,414,727 | +€308,943 | +27.9% |
| Leasing and similar rights | 25 | €533,469 | €155,562 | -€377,908 | -70.8% |
| Financial fixed assets | 28 | €957,552 | €1,190,668 | +€233,116 | +24.3% |
| Affiliated companies | 280/1 | €300,000 | €572,000 | +€272,000 | +90.7% |
| Participating interests | 280 | €300,000 | €572,000 | +€272,000 | +90.7% |
| Other financial fixed assets | 284/8 | €657,552 | €618,668 | -€38,884 | -5.9% |
| Shares | 284 | €67,223 | €22,173 | -€45,050 | -67.0% |
| Amounts receivable and cash guarantees | 285/8 | €590,329 | €596,495 | +€6,166 | +1.0% |
| Current assets | 29/58 | €11,045,619 | €12,424,528 | +€1.4m | +12.5% |
| Amounts receivable after more than one year | 29 | - | €4,642,243 | +€4.6m | |
| Other amounts receivable | 291 | - | €4,642,243 | +€4.6m | |
| Stocks and contracts in progress | 3 | €3,610,938 | €577,253 | -€3.0m | -84.0% |
| Stocks | 30/36 | €406,725 | €190,981 | -€215,745 | -53.0% |
| Raw materials and consumables | 30/31 | €225,339 | €92,794 | -€132,545 | -58.8% |
| Goods purchased for resale | 34 | €181,386 | €98,187 | -€83,199 | -45.9% |
| Contracts in progress | 37 | €3,204,213 | €386,273 | -€2.8m | -87.9% |
| Amounts receivable within one year | 40/41 | €6,067,383 | €4,142,266 | -€1.9m | -31.7% |
| Trade receivables | 40 | €4,775,026 | €3,143,788 | -€1.6m | -34.2% |
| Other amounts receivable | 41 | €1,292,358 | €998,478 | -€293,880 | -22.7% |
| Current investments | 50/53 | €700,000 | €2,400,000 | +€1.7m | +242.9% |
| Other investments | 51/53 | €700,000 | €2,400,000 | +€1.7m | +242.9% |
| Cash at bank and in hand | 54/58 | €436,913 | €563,561 | +€126,648 | +29.0% |
| Deferred charges and accrued income | 490/1 | €230,385 | €99,205 | -€131,181 | -56.9% |
| Total equity and liabilities | 10/49 | €16,444,876 | €18,800,206 | +€2.4m | +14.3% |
| Equity | 10/15 | €3,563,698 | €5,005,604 | +€1.4m | +40.5% |
| Contributions | 10/11 | €320,000 | €320,000 | = | 0.0% |
| Reserves | 13 | €429,651 | €444,575 | +€14,924 | +3.5% |
| Non-distributable reserves | 130/1 | €32,000 | €32,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €32,000 | €32,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €154,651 | €169,575 | +€14,924 | +9.7% |
| Distributable reserves | 133 | €243,000 | €243,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,814,047 | €4,241,029 | +€1.4m | +50.7% |
| Provisions and deferred taxes | 16 | €2,688 | €7,663 | +€4,975 | +185.0% |
| Deferred taxes | 168 | €2,688 | €7,663 | +€4,975 | +185.0% |
| Amounts payable | 17/49 | €12,878,490 | €13,786,939 | +€908,449 | +7.1% |
| Amounts payable after more than one year | 17 | €1,207,145 | €935,261 | -€271,884 | -22.5% |
| Financial debts | 170/4 | €1,207,145 | €935,261 | -€271,884 | -22.5% |
| Leasing and similar obligations | 172 | €176,590 | €24,737 | -€151,852 | -86.0% |
| Credit institutions | 173 | €1,030,556 | €910,524 | -€120,032 | -11.6% |
| Amounts payable within one year | 42/48 | €11,624,136 | €12,701,678 | +€1.1m | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €742,149 | €271,884 | -€470,265 | -63.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €9,038,104 | €10,222,261 | +€1.2m | +13.1% |
| Suppliers | 440/4 | €9,038,104 | €10,222,261 | +€1.2m | +13.1% |
| Taxes, remuneration and social security | 45 | €590,799 | €802,539 | +€211,740 | +35.8% |
| Taxes | 450/3 | €3,947 | €176,428 | +€172,481 | +4369.7% |
| Remuneration and social security | 454/9 | €586,852 | €626,111 | +€39,259 | +6.7% |
| Other amounts payable | 47/48 | €1,253,085 | €1,404,994 | +€151,909 | +12.1% |
| Accrued charges and deferred income | 492/3 | €47,208 | €150,000 | +€102,792 | +217.7% |
| Operating income | 70/76A | €39,989,211 | €52,685,617 | +€12.7m | +31.7% |
| Turnover | 70 | €36,377,970 | €54,409,470 | +€18.0m | +49.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €2,387,468 | -€2,762,523 | -€5.1m | |
| Other operating income | 74 | €1,183,541 | €972,656 | -€210,885 | -17.8% |
| Non-recurring operating income | 76A | €40,231 | €66,015 | +€25,783 | +64.1% |
| Operating charges | 60/66A | €37,997,263 | €49,283,692 | +€11.3m | +29.7% |
| Goods for resale, raw materials and consumables | 60 | €21,387,398 | €29,558,837 | +€8.2m | +38.2% |
| Purchases | 600/8 | €21,547,970 | €29,343,092 | +€7.8m | +36.2% |
| Change in stocks: decrease (increase) | 609 | -€160,571 | €215,745 | +€376,316 | |
| Services and other goods | 61 | €6,087,230 | €8,795,635 | +€2.7m | +44.5% |
| Remuneration, social security and pensions | 62 | €8,656,558 | €9,156,735 | +€500,177 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,585,519 | €1,687,634 | +€102,116 | +6.4% |
| Other operating charges | 640/8 | €47,007 | €55,939 | +€8,932 | +19.0% |
| Non-recurring operating charges | 66A | €233,551 | €28,913 | -€204,639 | -87.6% |
| Operating profit (loss) | 9901 | €1,991,948 | €3,401,925 | +€1.4m | +70.8% |
| Financial income | 75/76B | €228,636 | €99,227 | -€129,409 | -56.6% |
| Recurring financial income | 75 | €228,636 | €99,227 | -€129,409 | -56.6% |
| Income from financial fixed assets | 750 | €8 | €29 | +€21 | +251.5% |
| Income from current assets | 751 | - | €86,664 | +€86,664 | |
| Other financial income | 752/9 | €228,628 | €12,534 | -€216,094 | -94.5% |
| Financial charges | 65/66B | €40,937 | €77,711 | +€36,774 | +89.8% |
| Recurring financial charges | 65 | €40,937 | €32,661 | -€8,276 | -20.2% |
| Debt charges | 650 | €40,937 | €28,152 | -€12,785 | -31.2% |
| Other financial charges | 652/9 | - | €4,509 | +€4,509 | |
| Non-recurring financial charges | 66B | - | €45,050 | +€45,050 | |
| Profit (loss) for the period before taxes | 9903 | €2,179,647 | €3,423,441 | +€1.2m | +57.1% |
| Transfer from deferred taxes | 780 | €6,749 | €1,525 | -€5,223 | -77.4% |
| Transfer to deferred taxes | 680 | - | €6,500 | +€6,500 | |
| Income taxes | 67/77 | €294,891 | €576,559 | +€281,668 | +95.5% |
| Taxes | 670/3 | €294,891 | €576,559 | +€281,668 | +95.5% |
| Profit (loss) for the period | 9904 | €1,891,505 | €2,841,907 | +€950,402 | +50.2% |
| Transfer from tax-exempt reserves | 789 | €20,246 | €4,576 | -€15,671 | -77.4% |
| Transfer to tax-exempt reserves | 689 | - | €19,500 | +€19,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,911,751 | €2,826,983 | +€915,231 | +47.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.