TEGRO: what changed
What changed
TEGRO
NACE 43.120, Site preparation
filed annual accounts (NBB)
Net result for the year
€241,372
2024 · €41,868+€199,504
Equity
€477,743
2024 · €436,372+€41,372
Cash
€337,864
2024 · €259,935+€77,929
Balance sheet total
€1.6m
2024 · €1.2m+€409,237
Largest movements
Assets
- Tangible fixed assets +€224,373
up €224,373 (+63.6%), from €352,675 to €577,048
of which Furniture and vehicles: +€201,342
- Cash +€77,929
up €77,929 (+30.0%), from €259,935 to €337,864
mainly Net result for the year (+€241,372) and Debts after one year (+€163,717)
- Stocks and contracts +€69,697
up €69,697, from €0 to €69,697
- Receivables within one year +€50,852
up €50,852 (+13.5%), from €377,474 to €428,326
of which Other amounts receivable: +€29,534
Equity and liabilities
- Debts after one year +€163,717
up €163,717 (+49.0%), from €334,420 to €498,137
- Other debts +€148,151
up €148,151 (+285%), from €52,004 to €200,155
- Tax, wage and social debts +€44,863
up €44,863 (+300%), from €14,961 to €59,824
of which Taxes: +€48,384
- Reserves +€41,372
up €41,372 (+9.9%), from €416,372 to €457,743
- Current portion of long-term debt +€36,530
up €36,530 (+44.3%), from €82,494 to €119,024
Income statement
- Gross operating margin +€467,982
up €467,982 (+108%), from €435,163 to €903,145
- Staff costs +€133,226
up €133,226 (+47.0%), from €283,749 to €416,975
- Taxes +€70,952
up €70,952 (+613%), from €11,566 to €82,518
- Depreciation +€55,196
up €55,196 (+88.2%), from €62,598 to €117,794
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€41,868
Gross operating margin
+€467,982
Staff costs
-€133,226
Depreciation
-€55,196
Other operating charges
-€6,502
Financial income
+€1,682
Financial charges
-€4,285
Taxes
-€70,952
Result 2025
€241,372
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€403,121
Investment
-€341,914
Financing
+€16,723
Cash 2024
€259,935
From operations (derived)
+€403,121
Net result for the year
+€241,372
Depreciation
+€117,794
Receivables after one year
+€11,347
Stocks and contracts
-€69,697
Receivables within one year
-€50,852
Deferred charges and accrued income
+€2,015
Trade debts
-€27,999
Tax, wage and social debts
+€44,863
Other debts
+€148,151
Accrued charges and deferred income
-€13,873
Investment (derived)
-€341,914
Investment in fixed assets (net)
-€341,914
Financing
+€16,723
Debts after one year
+€163,717
Current portion of long-term debt
+€36,530
Short-term financial debts
+€16,476
Contributions, distributions and other
-€200,000
Cash 2025
€337,864
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,184,448 | €1,593,686 | +€409,237 | +34.6% |
| Fixed assets | 21/28 | €357,222 | €581,343 | +€224,120 | +62.7% |
| Tangible fixed assets | 22/27 | €352,675 | €577,048 | +€224,373 | +63.6% |
| Land and buildings | 22 | €54,603 | €94,716 | +€40,112 | +73.5% |
| Plant, machinery and equipment | 23 | €163,448 | €146,366 | -€17,082 | -10.5% |
| Furniture and vehicles | 24 | €134,624 | €335,966 | +€201,342 | +150% |
| Financial fixed assets | 28 | €4,547 | €4,295 | -€252 | -5.5% |
| Current assets | 29/58 | €827,226 | €1,012,343 | +€185,117 | +22.4% |
| Amounts receivable after more than one year | 29 | €169,975 | €158,628 | -€11,347 | -6.7% |
| Trade receivables | 290 | €0 | - | = | |
| Other amounts receivable | 291 | €169,975 | €158,628 | -€11,347 | -6.7% |
| Stocks and contracts in progress | 3 | €0 | €69,697 | +€69,697 | |
| Contracts in progress | 37 | €0 | €69,697 | +€69,697 | |
| Amounts receivable within one year | 40/41 | €377,474 | €428,326 | +€50,852 | +13.5% |
| Trade receivables | 40 | €237,189 | €258,507 | +€21,318 | +9.0% |
| Other amounts receivable | 41 | €140,285 | €169,819 | +€29,534 | +21.1% |
| Cash at bank and in hand | 54/58 | €259,935 | €337,864 | +€77,929 | +30.0% |
| Deferred charges and accrued income | 490/1 | €19,843 | €17,828 | -€2,015 | -10.2% |
| Total equity and liabilities | 10/49 | €1,184,448 | €1,593,686 | +€409,237 | +34.6% |
| Equity | 10/15 | €436,372 | €477,743 | +€41,372 | +9.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €416,372 | €457,743 | +€41,372 | +9.9% |
| Distributable reserves | 133 | €416,372 | €457,743 | +€41,372 | +9.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €748,077 | €1,115,942 | +€367,866 | +49.2% |
| Amounts payable after more than one year | 17 | €334,420 | €498,137 | +€163,717 | +49.0% |
| Financial debts | 170/4 | €334,420 | €498,137 | +€163,717 | +49.0% |
| Amounts payable within one year | 42/48 | €353,143 | €571,164 | +€218,021 | +61.7% |
| Current portion of amounts payable after more than one year | 42 | €82,494 | €119,024 | +€36,530 | +44.3% |
| Financial debts | 43 | €1,332 | €17,808 | +€16,476 | +1,237% |
| Credit institutions | 430/8 | €1,332 | €17,808 | +€16,476 | +1,237% |
| Trade debts | 44 | €202,353 | €174,354 | -€27,999 | -13.8% |
| Suppliers | 440/4 | €202,353 | €174,354 | -€27,999 | -13.8% |
| Taxes, remuneration and social security | 45 | €14,961 | €59,824 | +€44,863 | +300% |
| Taxes | 450/3 | €4,083 | €52,466 | +€48,384 | +1,185% |
| Remuneration and social security | 454/9 | €10,878 | €7,358 | -€3,520 | -32.4% |
| Other amounts payable | 47/48 | €52,004 | €200,155 | +€148,151 | +285% |
| Accrued charges and deferred income | 492/3 | €60,514 | €46,641 | -€13,873 | -22.9% |
| Non-recurring operating income | 76A | €5,000 | €21,198 | +€16,198 | +324% |
| Remuneration, social security and pensions | 62 | €283,749 | €416,975 | +€133,226 | +47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,598 | €117,794 | +€55,196 | +88.2% |
| Other operating charges | 640/8 | €22,297 | €28,799 | +€6,502 | +29.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €435,163 | €903,145 | +€467,982 | +108% |
| Operating profit (loss) | 9901 | €66,519 | €339,577 | +€273,058 | +410% |
| Financial income | 75/76B | €7,898 | €9,579 | +€1,682 | +21.3% |
| Recurring financial income | 75 | €7,898 | €9,579 | +€1,682 | +21.3% |
| Financial charges | 65/66B | €20,983 | €25,267 | +€4,285 | +20.4% |
| Recurring financial charges | 65 | €20,983 | €25,267 | +€4,285 | +20.4% |
| Profit (loss) for the period before taxes | 9903 | €53,434 | €323,889 | +€270,455 | +506% |
| Income taxes | 67/77 | €11,566 | €82,518 | +€70,952 | +613% |
| Profit (loss) for the period | 9904 | €41,868 | €241,372 | +€199,504 | +477% |
| Profit (loss) for the period to be appropriated | 9905 | €41,868 | €241,372 | +€199,504 | +477% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.