TEGELPLUS: 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.
TEGELPLUS
Largest movements
- Receivables within one year +€452,170
up €452,170 (+51.4%), from €880,081 to €1.3m
of which Other amounts receivable: +€515,749
- Stocks and contracts -€279,559
down €279,559 (-35.9%), from €779,340 to €499,781
- Cash +€99,289
up €99,289 (+403.6%), from €24,603 to €123,892
mainly Stocks and contracts (+€279,559) and Net result for the year (+€169,965)
- Tangible fixed assets -€89,730
down €89,730 (-12.0%), from €746,448 to €656,718
of which Land and buildings: -€48,968
- Reserves +€169,965
up €169,965 (+21.8%), from €780,193 to €950,158
of which Distributable reserves: +€169,965
- Short-term financial debts +€125,385
up €125,385 (+51.9%), from €241,769 to €367,155
- Trade debts -€121,766
down €121,766 (-18.8%), from €647,018 to €525,252
- Staff costs -€18,081
down €18,081 (-22.1%), from €81,852 to €63,770
- Gross operating margin -€11,704
down €11,704 (-2.6%), from €444,597 to €432,893
- Financial income -€10,610
down €10,610 (-82.7%), from €12,828 to €2,218
- Other operating charges -€6,163
down €6,163 (-57.9%), from €10,641 to €4,478
- Taxes -€4,702
down €4,702 (-5.9%), from €79,083 to €74,381
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 | €2,438,549 | €2,616,082 | +€177,532 | +7.3% |
| Fixed assets | 21/28 | €746,548 | €656,818 | -€89,730 | -12.0% |
| Tangible fixed assets | 22/27 | €746,448 | €656,718 | -€89,730 | -12.0% |
| Land and buildings | 22 | €501,107 | €452,138 | -€48,968 | -9.8% |
| Plant, machinery and equipment | 23 | €19,974 | €13,941 | -€6,033 | -30.2% |
| Furniture and vehicles | 24 | €47,161 | €25,729 | -€21,432 | -45.4% |
| Other tangible fixed assets | 26 | €178,207 | €164,910 | -€13,297 | -7.5% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €1,692,001 | €1,959,264 | +€267,263 | +15.8% |
| Stocks and contracts in progress | 3 | €779,340 | €499,781 | -€279,559 | -35.9% |
| Stocks | 30/36 | €779,340 | €499,781 | -€279,559 | -35.9% |
| Amounts receivable within one year | 40/41 | €880,081 | €1,332,251 | +€452,170 | +51.4% |
| Trade receivables | 40 | €162,192 | €98,613 | -€63,579 | -39.2% |
| Other amounts receivable | 41 | €717,889 | €1,233,638 | +€515,749 | +71.8% |
| Cash at bank and in hand | 54/58 | €24,603 | €123,892 | +€99,289 | +403.6% |
| Deferred charges and accrued income | 490/1 | €7,976 | €3,339 | -€4,637 | -58.1% |
| Total equity and liabilities | 10/49 | €2,438,549 | €2,616,082 | +€177,532 | +7.3% |
| Equity | 10/15 | €798,793 | €968,758 | +€169,965 | +21.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €780,193 | €950,158 | +€169,965 | +21.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €759,583 | €929,548 | +€169,965 | +22.4% |
| Amounts payable | 17/49 | €1,639,756 | €1,647,324 | +€7,567 | +0.5% |
| Amounts payable after more than one year | 17 | €612,073 | €586,158 | -€25,915 | -4.2% |
| Financial debts | 170/4 | €612,073 | €586,158 | -€25,915 | -4.2% |
| Amounts payable within one year | 42/48 | €999,219 | €1,017,659 | +€18,440 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €25,428 | €25,915 | +€486 | +1.9% |
| Financial debts | 43 | €241,769 | €367,155 | +€125,385 | +51.9% |
| Credit institutions | 430/8 | €241,769 | €367,155 | +€125,385 | +51.9% |
| Trade debts | 44 | €647,018 | €525,252 | -€121,766 | -18.8% |
| Suppliers | 440/4 | €647,018 | €525,252 | -€121,766 | -18.8% |
| Taxes, remuneration and social security | 45 | €80,430 | €93,637 | +€13,206 | +16.4% |
| Taxes | 450/3 | €72,401 | €86,507 | +€14,106 | +19.5% |
| Remuneration and social security | 454/9 | €8,030 | €7,130 | -€900 | -11.2% |
| Other amounts payable | 47/48 | €4,573 | €5,701 | +€1,127 | +24.6% |
| Accrued charges and deferred income | 492/3 | €28,465 | €43,507 | +€15,042 | +52.8% |
| Non-recurring operating income | 76A | €368 | €0 | -€368 | -100.0% |
| Remuneration, social security and pensions | 62 | €81,852 | €63,770 | -€18,081 | -22.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,091 | €91,036 | +€3,945 | +4.5% |
| Other operating charges | 640/8 | €10,641 | €4,478 | -€6,163 | -57.9% |
| Gross operating margin | 9900 | €444,597 | €432,893 | -€11,704 | -2.6% |
| Operating profit (loss) | 9901 | €265,013 | €273,608 | +€8,594 | +3.2% |
| Financial income | 75/76B | €12,828 | €2,218 | -€10,610 | -82.7% |
| Recurring financial income | 75 | €12,828 | €2,218 | -€10,610 | -82.7% |
| Financial charges | 65/66B | €31,460 | €31,480 | +€19 | +0.1% |
| Recurring financial charges | 65 | €31,460 | €31,480 | +€19 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €246,381 | €244,346 | -€2,034 | -0.8% |
| Income taxes | 67/77 | €79,083 | €74,381 | -€4,702 | -5.9% |
| Profit (loss) for the period | 9904 | €167,298 | €169,965 | +€2,667 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €167,298 | €169,965 | +€2,667 | +1.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.