Tegelhuys: 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.
Tegelhuys
Largest movements
- Receivables within one year -€71,347
down €71,347 (-33.8%), from €210,890 to €139,543
of which Trade receivables: -€76,232
- Tangible fixed assets -€17,861
down €17,861 (-32.5%), from €55,028 to €37,167
- Cash +€6,297
new in 2025: €6,297
mainly Debts after one year (+€123,674) and Receivables within one year (+€71,347)
- Trade debts -€196,705
down €196,705 (-73.3%), from €268,261 to €71,556
- Debts after one year +€123,674
up €123,674 (+142%), from €87,305 to €210,979
- Profit (loss) carried forward +€31,342
up €31,342 (+35.4%), from -€88,434 to -€57,092
- Tax, wage and social debts -€19,173
down €19,173 (-97.0%), from €19,772 to €599
- Short-term financial debts -€16,665
no longer reported in 2025 (was €16,665)
- Gross operating margin +€74,584
up €74,584, from -€10,530 to €64,054
- Financial income -€14,083
down €14,083 (-57.7%), from €24,417 to €10,335
of which Non-recurring financial income: -€23,996
- Financial charges +€12,958
up €12,958 (+146%), from €8,871 to €21,829
- Other operating charges -€3,492
down €3,492 (-55.0%), from €6,354 to €2,862
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 | €357,924 | €274,301 | -€83,623 | -23.4% |
| Fixed assets | 21/28 | €61,333 | €43,472 | -€17,861 | -29.1% |
| Tangible fixed assets | 22/27 | €55,028 | €37,167 | -€17,861 | -32.5% |
| Land and buildings | 22 | €31,353 | €22,958 | -€8,395 | -26.8% |
| Plant, machinery and equipment | 23 | €1,033 | €902 | -€131 | -12.7% |
| Furniture and vehicles | 24 | €13,842 | €6,344 | -€7,499 | -54.2% |
| Other tangible fixed assets | 26 | €8,799 | €6,963 | -€1,836 | -20.9% |
| Financial fixed assets | 28 | €6,305 | €6,305 | = | 0.0% |
| Current assets | 29/58 | €296,591 | €230,829 | -€65,762 | -22.2% |
| Stocks and contracts in progress | 3 | €84,866 | €84,866 | = | 0.0% |
| Stocks | 30/36 | €84,866 | €84,866 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €210,890 | €139,543 | -€71,347 | -33.8% |
| Trade receivables | 40 | €207,540 | €131,308 | -€76,232 | -36.7% |
| Other amounts receivable | 41 | €3,350 | €8,235 | +€4,885 | +146% |
| Cash at bank and in hand | 54/58 | - | €6,297 | +€6,297 | |
| Deferred charges and accrued income | 490/1 | €835 | €122 | -€712 | -85.3% |
| Total equity and liabilities | 10/49 | €357,924 | €274,301 | -€83,623 | -23.4% |
| Equity | 10/15 | -€76,034 | -€44,692 | +€31,342 | +41.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€88,434 | -€57,092 | +€31,342 | +35.4% |
| Amounts payable | 17/49 | €433,958 | €318,994 | -€114,965 | -26.5% |
| Amounts payable after more than one year | 17 | €87,305 | €210,979 | +€123,674 | +142% |
| Financial debts | 170/4 | €87,305 | €210,979 | +€123,674 | +142% |
| Amounts payable within one year | 42/48 | €346,653 | €104,229 | -€242,424 | -69.9% |
| Current portion of amounts payable after more than one year | 42 | €31,196 | €26,397 | -€4,799 | -15.4% |
| Financial debts | 43 | €16,665 | - | -€16,665 | |
| Credit institutions | 430/8 | €16,665 | - | -€16,665 | |
| Trade debts | 44 | €268,261 | €71,556 | -€196,705 | -73.3% |
| Suppliers | 440/4 | €268,261 | €71,556 | -€196,705 | -73.3% |
| Advances received on contracts in progress | 46 | €7,074 | - | -€7,074 | |
| Taxes, remuneration and social security | 45 | €19,772 | €599 | -€19,173 | -97.0% |
| Taxes | 450/3 | €19,772 | €599 | -€19,173 | -97.0% |
| Other amounts payable | 47/48 | €3,686 | €5,678 | +€1,992 | +54.0% |
| Accrued charges and deferred income | 492/3 | - | €3,785 | +€3,785 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,807 | €18,350 | -€457 | -2.4% |
| Other operating charges | 640/8 | €6,354 | €2,862 | -€3,492 | -55.0% |
| Non-recurring operating charges | 66A | - | €6 | +€6 | |
| Gross operating margin | 9900 | -€10,530 | €64,054 | +€74,584 | |
| Operating profit (loss) | 9901 | -€35,691 | €42,836 | +€78,527 | |
| Financial income | 75/76B | €24,417 | €10,335 | -€14,083 | -57.7% |
| Recurring financial income | 75 | €422 | €10,335 | +€9,913 | +2,349% |
| Non-recurring financial income | 76B | €23,996 | - | -€23,996 | |
| Financial charges | 65/66B | €8,871 | €21,829 | +€12,958 | +146% |
| Recurring financial charges | 65 | €8,871 | €21,829 | +€12,958 | +146% |
| Profit (loss) for the period before taxes | 9903 | -€20,145 | €31,342 | +€51,487 | |
| Profit (loss) for the period | 9904 | -€20,145 | €31,342 | +€51,487 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,145 | €31,342 | +€51,487 |
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 21 October 2026 via checked.be.