TEJAS: 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.
TEJAS
Largest movements
- Current investments -€200,000
down €200,000 (-66.8%), from €299,206 to €99,206
- Cash +€155,081
up €155,081 (+69.0%), from €224,810 to €379,891
mainly Current investments (+€200,000) and Net result for the year (+€115,562)
- Tangible fixed assets -€17,192
down €17,192 (-45.8%), from €37,502 to €20,310
- Receivables within one year +€7,565
new in 2025: €7,565
- Reserves -€104,418
down €104,418 (-24.4%), from €428,168 to €323,750
of which Distributable reserves: -€104,418
- Other debts +€50,908
up €50,908 (+121%), from €42,015 to €92,924
- Gross operating margin +€14,638
up €14,638 (+9.1%), from €161,643 to €176,281
- Staff costs -€7,356
down €7,356 (-98.7%), from €7,456 to €100
- Taxes +€6,855
up €6,855 (+17.0%), from €40,404 to €47,259
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 | €566,199 | €511,450 | -€54,749 | -9.7% |
| Fixed assets | 21/28 | €37,502 | €20,310 | -€17,192 | -45.8% |
| Tangible fixed assets | 22/27 | €37,502 | €20,310 | -€17,192 | -45.8% |
| Furniture and vehicles | 24 | €37,502 | €20,310 | -€17,192 | -45.8% |
| Current assets | 29/58 | €528,697 | €491,140 | -€37,557 | -7.1% |
| Amounts receivable within one year | 40/41 | - | €7,565 | +€7,565 | |
| Other amounts receivable | 41 | - | €7,565 | +€7,565 | |
| Current investments | 50/53 | €299,206 | €99,206 | -€200,000 | -66.8% |
| Cash at bank and in hand | 54/58 | €224,810 | €379,891 | +€155,081 | +69.0% |
| Deferred charges and accrued income | 490/1 | €4,681 | €4,478 | -€203 | -4.3% |
| Total equity and liabilities | 10/49 | €566,199 | €511,450 | -€54,749 | -9.7% |
| Equity | 10/15 | €439,830 | €335,413 | -€104,418 | -23.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €428,168 | €323,750 | -€104,418 | -24.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €426,308 | €321,890 | -€104,418 | -24.5% |
| Profit (loss) carried forward | 14 | €5,463 | €5,463 | = | 0.0% |
| Provisions and deferred taxes | 16 | €52,484 | €52,484 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €52,484 | €52,484 | = | 0.0% |
| Pensions and similar obligations | 160 | €52,484 | €52,484 | = | 0.0% |
| Amounts payable | 17/49 | €73,884 | €123,553 | +€49,669 | +67.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €73,533 | €122,722 | +€49,189 | +66.9% |
| Current portion of amounts payable after more than one year | 42 | €4,338 | €0 | -€4,338 | -100% |
| Trade debts | 44 | €567 | €1,556 | +€989 | +174% |
| Suppliers | 440/4 | €567 | €1,556 | +€989 | +174% |
| Taxes, remuneration and social security | 45 | €26,612 | €28,242 | +€1,630 | +6.1% |
| Taxes | 450/3 | €26,612 | €28,242 | +€1,630 | +6.1% |
| Other amounts payable | 47/48 | €42,015 | €92,924 | +€50,908 | +121% |
| Accrued charges and deferred income | 492/3 | €351 | €831 | +€480 | +136% |
| Remuneration, social security and pensions | 62 | €7,456 | €100 | -€7,356 | -98.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,233 | €18,500 | +€267 | +1.5% |
| Other operating charges | 640/8 | €1,848 | €2,018 | +€170 | +9.2% |
| Gross operating margin | 9900 | €161,643 | €176,281 | +€14,638 | +9.1% |
| Operating profit (loss) | 9901 | €134,106 | €155,663 | +€21,557 | +16.1% |
| Financial income | 75/76B | €8,742 | €7,280 | -€1,462 | -16.7% |
| Recurring financial income | 75 | €8,742 | €7,280 | -€1,462 | -16.7% |
| Financial charges | 65/66B | €326 | €121 | -€205 | -62.8% |
| Recurring financial charges | 65 | €326 | €121 | -€205 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €142,521 | €162,821 | +€20,300 | +14.2% |
| Income taxes | 67/77 | €40,404 | €47,259 | +€6,855 | +17.0% |
| Profit (loss) for the period | 9904 | €102,117 | €115,562 | +€13,445 | +13.2% |
| Profit (loss) for the period to be appropriated | 9905 | €102,117 | €115,562 | +€13,445 | +13.2% |
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.