TEITU: 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.
TEITU
Largest movements
- Cash -€176,548
down €176,548 (-78.3%), from €225,377 to €48,829
mainly Trade debts (-€83,541) and Deferred charges and accrued income (-€65,692)
- Receivables within one year -€97,735
down €97,735 (-31.4%), from €310,809 to €213,073
of which Trade receivables: -€109,155
- Deferred charges and accrued income +€65,692
up €65,692 (+563%), from €11,665 to €77,357
- Tangible fixed assets -€34,182
down €34,182 (-7.0%), from €490,535 to €456,354
of which Land and buildings: -€17,855
- Current investments -€18,891
down €18,891 (-13.1%), from €144,023 to €125,133
- Trade debts -€83,541
down €83,541 (-54.6%), from €152,984 to €69,443
- Debts after one year -€52,634
down €52,634 (-16.7%), from €315,936 to €263,303
- Other debts -€47,694
down €47,694 (-91.4%), from €52,199 to €4,505
- Short-term financial debts -€25,695
down €25,695 (-15.7%), from €163,225 to €137,529
- Current portion of long-term debt -€25,571
down €25,571 (-43.7%), from €58,466 to €32,895
- Gross operating margin -€130,744
down €130,744 (-74.2%), from €176,158 to €45,415
- Staff costs -€43,961
down €43,961 (-48.2%), from €91,237 to €47,276
- Financial income +€27,107
up €27,107 (+2,498%), from €1,085 to €28,192
- Taxes -€9,351
down €9,351 (-98.3%), from €9,515 to €163
- Financial charges +€2,158
up €2,158 (+22.4%), from €9,652 to €11,811
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 | €1,210,674 | €949,011 | -€261,663 | -21.6% |
| Fixed assets | 21/28 | €518,801 | €484,619 | -€34,182 | -6.6% |
| Tangible fixed assets | 22/27 | €490,535 | €456,354 | -€34,182 | -7.0% |
| Land and buildings | 22 | €433,771 | €415,916 | -€17,855 | -4.1% |
| Furniture and vehicles | 24 | €55,483 | €39,825 | -€15,658 | -28.2% |
| Other tangible fixed assets | 26 | €1,282 | €614 | -€669 | -52.1% |
| Financial fixed assets | 28 | €28,265 | €28,265 | = | 0.0% |
| Current assets | 29/58 | €691,874 | €464,392 | -€227,482 | -32.9% |
| Amounts receivable within one year | 40/41 | €310,809 | €213,073 | -€97,735 | -31.4% |
| Trade receivables | 40 | €250,304 | €141,149 | -€109,155 | -43.6% |
| Other amounts receivable | 41 | €60,505 | €71,925 | +€11,420 | +18.9% |
| Current investments | 50/53 | €144,023 | €125,133 | -€18,891 | -13.1% |
| Cash at bank and in hand | 54/58 | €225,377 | €48,829 | -€176,548 | -78.3% |
| Deferred charges and accrued income | 490/1 | €11,665 | €77,357 | +€65,692 | +563% |
| Total equity and liabilities | 10/49 | €1,210,674 | €949,011 | -€261,663 | -21.6% |
| Equity | 10/15 | €449,672 | €427,956 | -€21,716 | -4.8% |
| Contributions | 10/11 | €6,700 | €6,700 | = | 0.0% |
| Reserves | 13 | €442,972 | €444,547 | +€1,575 | +0.4% |
| Tax-exempt reserves | 132 | €35,346 | €35,346 | = | 0.0% |
| Distributable reserves | 133 | €407,626 | €409,201 | +€1,575 | +0.4% |
| Profit (loss) carried forward | 14 | - | -€23,291 | -€23,291 | |
| Amounts payable | 17/49 | €761,002 | €521,055 | -€239,947 | -31.5% |
| Amounts payable after more than one year | 17 | €315,936 | €263,303 | -€52,634 | -16.7% |
| Financial debts | 170/4 | €315,936 | €263,303 | -€52,634 | -16.7% |
| Amounts payable within one year | 42/48 | €445,066 | €257,752 | -€187,313 | -42.1% |
| Current portion of amounts payable after more than one year | 42 | €58,466 | €32,895 | -€25,571 | -43.7% |
| Financial debts | 43 | €163,225 | €137,529 | -€25,695 | -15.7% |
| Credit institutions | 430/8 | €163,225 | €137,529 | -€25,695 | -15.7% |
| Trade debts | 44 | €152,984 | €69,443 | -€83,541 | -54.6% |
| Suppliers | 440/4 | €152,984 | €69,443 | -€83,541 | -54.6% |
| Taxes, remuneration and social security | 45 | €18,191 | €13,380 | -€4,811 | -26.4% |
| Taxes | 450/3 | €15,444 | €3,149 | -€12,296 | -79.6% |
| Remuneration and social security | 454/9 | €2,747 | €10,231 | +€7,484 | +272% |
| Other amounts payable | 47/48 | €52,199 | €4,505 | -€47,694 | -91.4% |
| Remuneration, social security and pensions | 62 | €91,237 | €47,276 | -€43,961 | -48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,416 | €32,274 | -€1,142 | -3.4% |
| Other operating charges | 640/8 | €6,446 | €5,373 | -€1,073 | -16.6% |
| Gross operating margin | 9900 | €176,158 | €45,415 | -€130,744 | -74.2% |
| Operating profit (loss) | 9901 | €45,059 | -€39,509 | -€84,568 | |
| Financial income | 75/76B | €1,085 | €28,192 | +€27,107 | +2,498% |
| Recurring financial income | 75 | €1,085 | €28,192 | +€27,107 | +2,498% |
| Financial charges | 65/66B | €9,652 | €11,811 | +€2,158 | +22.4% |
| Recurring financial charges | 65 | €9,652 | €11,811 | +€2,158 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €36,491 | -€23,127 | -€59,619 | |
| Income taxes | 67/77 | €9,515 | €163 | -€9,351 | -98.3% |
| Profit (loss) for the period | 9904 | €26,977 | -€23,291 | -€50,268 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,977 | -€23,291 | -€50,268 |
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 14 October 2026 via checked.be.