Tegla: 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.
Tegla
Largest movements
- Tangible fixed assets -€892,331
down €892,331 (-17.3%), from €5.1m to €4.3m
- Cash +€328,053
up €328,053 (+2091.4%), from €15,686 to €343,739
mainly Net result for the year (+€667,011) and Investment in fixed assets (net) (+€519,500)
- Contributions -€1.0m
down €1.0m (-66.7%), from €1.5m to €500,000
- Reserves +€667,011
up €667,011 (+10.3%), from €6.5m to €7.1m
of which Distributable reserves: +€561,636
- Debts after one year -€527,454
down €527,454 (-12.7%), from €4.2m to €3.6m
- Other debts +€147,806
new in 2025: €147,806
- Gross operating margin -€569,400
down €569,400 (-26.3%), from €2.2m to €1.6m
- Depreciation -€148,237
down €148,237 (-28.4%), from €521,068 to €372,831
- Taxes -€143,888
down €143,888 (-32.7%), from €440,052 to €296,164
- Purchases and services -€103,233
down €103,233 (-85.6%), from €120,588 to €17,355
- Financial income -€29,440
no longer reported in 2025 (was €29,440)
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 | €12,766,810 | €12,212,838 | -€553,972 | -4.3% |
| Fixed assets | 21/28 | €9,387,669 | €8,495,338 | -€892,331 | -9.5% |
| Tangible fixed assets | 22/27 | €5,149,056 | €4,256,725 | -€892,331 | -17.3% |
| Land and buildings | 22 | €5,149,056 | €4,256,725 | -€892,331 | -17.3% |
| Financial fixed assets | 28 | €4,238,613 | €4,238,613 | = | 0.0% |
| Current assets | 29/58 | €3,379,141 | €3,717,500 | +€338,359 | +10.0% |
| Amounts receivable within one year | 40/41 | €3,363,455 | €3,373,761 | +€10,306 | +0.3% |
| Other amounts receivable | 41 | €3,363,455 | €3,373,761 | +€10,306 | +0.3% |
| Cash at bank and in hand | 54/58 | €15,686 | €343,739 | +€328,053 | +2091.4% |
| Total equity and liabilities | 10/49 | €12,766,810 | €12,212,838 | -€553,972 | -4.3% |
| Equity | 10/15 | €7,890,029 | €7,557,040 | -€332,989 | -4.2% |
| Contributions | 10/11 | €1,500,000 | €500,000 | -€1.0m | -66.7% |
| Reserves | 13 | €6,475,403 | €7,142,414 | +€667,011 | +10.3% |
| Non-distributable reserves | 130/1 | €422,400 | €422,400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €422,400 | €422,400 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €105,375 | +€105,375 | |
| Distributable reserves | 133 | €6,053,003 | €6,614,639 | +€561,636 | +9.3% |
| Profit (loss) carried forward | 14 | -€85,374 | -€85,374 | = | 0.0% |
| Provisions and deferred taxes | 16 | - | €35,125 | +€35,125 | |
| Deferred taxes | 168 | - | €35,125 | +€35,125 | |
| Amounts payable | 17/49 | €4,876,781 | €4,620,673 | -€256,108 | -5.3% |
| Amounts payable after more than one year | 17 | €4,153,972 | €3,626,518 | -€527,454 | -12.7% |
| Financial debts | 170/4 | €4,153,972 | €3,626,518 | -€527,454 | -12.7% |
| Amounts payable within one year | 42/48 | €722,809 | €994,155 | +€271,346 | +37.5% |
| Current portion of amounts payable after more than one year | 42 | €492,337 | €527,453 | +€35,116 | +7.1% |
| Taxes, remuneration and social security | 45 | €230,472 | €318,896 | +€88,424 | +38.4% |
| Taxes | 450/3 | €230,472 | €318,896 | +€88,424 | +38.4% |
| Other amounts payable | 47/48 | - | €147,806 | +€147,806 | |
| Goods, raw materials, services and sundry goods | 60/61 | €120,588 | €17,355 | -€103,233 | -85.6% |
| Remuneration, social security and pensions | 62 | €24,928 | €23,998 | -€930 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €521,068 | €372,831 | -€148,237 | -28.4% |
| Other operating charges | 640/8 | €63,585 | €60,779 | -€2,806 | -4.4% |
| Gross operating margin | 9900 | €2,164,691 | €1,595,291 | -€569,400 | -26.3% |
| Operating profit (loss) | 9901 | €1,555,110 | €1,137,683 | -€417,427 | -26.8% |
| Financial income | 75/76B | €29,440 | - | -€29,440 | |
| Recurring financial income | 75 | €29,440 | - | -€29,440 | |
| Financial charges | 65/66B | €125,449 | €139,383 | +€13,934 | +11.1% |
| Recurring financial charges | 65 | €125,449 | €139,383 | +€13,934 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €1,459,101 | €998,300 | -€460,801 | -31.6% |
| Transfer to deferred taxes | 680 | - | €35,125 | +€35,125 | |
| Income taxes | 67/77 | €440,052 | €296,164 | -€143,888 | -32.7% |
| Profit (loss) for the period | 9904 | €1,019,049 | €667,011 | -€352,038 | -34.5% |
| Transfer from tax-exempt reserves | 789 | €628,100 | - | -€628,100 | |
| Transfer to tax-exempt reserves | 689 | - | €105,375 | +€105,375 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,647,149 | €561,636 | -€1.1m | -65.9% |
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 10 October 2026 via checked.be.