TEMA INVEST: what changed
TEMA INVEST
Largest movements
- Receivables within one year -€59,530
down €59,530 (-20.7%), from €288,234 to €228,703
of which Trade receivables: -€34,269
- Cash -€13,515
down €13,515 (-24.1%), from €56,125 to €42,610
mainly Investment in fixed assets (net) (-€61,390) and Short-term financial debts (-€49,100)
- Short-term financial debts -€49,100
no longer reported in 2025 (was €49,100)
- Debts after one year -€24,578
down €24,578 (-5.0%), from €490,500 to €465,922
of which Financial debts: -€24,578
- Other debts +€19,404
up €19,404 (+16.6%), from €117,190 to €136,594
- Tax, wage and social debts -€16,312
down €16,312 (-53.4%), from €30,552 to €14,240
of which Taxes: -€14,150
- Current portion of long-term debt +€15,454
up €15,454 (+25.9%), from €59,742 to €75,195
- Gross operating margin -€60,637
down €60,637 (-44.7%), from €135,661 to €75,024
- Other operating charges -€15,881
down €15,881 (-60.8%), from €26,119 to €10,239
- Taxes -€9,512
down €9,512 (-97.7%), from €9,739 to €226
- Depreciation +€5,731
up €5,731 (+11.4%), from €50,067 to €55,798
- Write-downs -€1,500
no longer reported in 2025 (was €1,500)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,259,953 | €1,193,510 | -€66,443 | -5.3% |
| Fixed assets | 21/28 | €912,142 | €917,735 | +€5,592 | +0.6% |
| Tangible fixed assets | 22/27 | €912,061 | €917,654 | +€5,592 | +0.6% |
| Land and buildings | 22 | €788,137 | €744,059 | -€44,078 | -5.6% |
| Plant, machinery and equipment | 23 | €5,078 | €2,743 | -€2,335 | -46.0% |
| Furniture and vehicles | 24 | €4,934 | €54,219 | +€49,285 | +999% |
| Assets under construction and advance payments | 27 | €113,912 | €116,633 | +€2,721 | +2.4% |
| Financial fixed assets | 28 | €81 | €81 | = | 0.0% |
| Current assets | 29/58 | €347,811 | €275,776 | -€72,035 | -20.7% |
| Amounts receivable within one year | 40/41 | €288,234 | €228,703 | -€59,530 | -20.7% |
| Trade receivables | 40 | €92,972 | €58,703 | -€34,269 | -36.9% |
| Other amounts receivable | 41 | €195,261 | €170,000 | -€25,261 | -12.9% |
| Cash at bank and in hand | 54/58 | €56,125 | €42,610 | -€13,515 | -24.1% |
| Deferred charges and accrued income | 490/1 | €3,452 | €4,463 | +€1,011 | +29.3% |
| Total equity and liabilities | 10/49 | €1,259,953 | €1,193,510 | -€66,443 | -5.3% |
| Equity | 10/15 | €497,167 | €492,262 | -€4,905 | -1.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €489,107 | €484,202 | -€4,905 | -1.0% |
| Amounts payable | 17/49 | €762,786 | €701,248 | -€61,538 | -8.1% |
| Amounts payable after more than one year | 17 | €490,500 | €465,922 | -€24,578 | -5.0% |
| Financial debts | 170/4 | €486,000 | €461,422 | -€24,578 | -5.1% |
| Other amounts payable | 178/9 | €4,500 | €4,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €269,730 | €235,326 | -€34,405 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €59,742 | €75,195 | +€15,454 | +25.9% |
| Financial debts | 43 | €49,100 | - | -€49,100 | |
| Credit institutions | 430/8 | €49,100 | - | -€49,100 | |
| Trade debts | 44 | €13,147 | €9,297 | -€3,851 | -29.3% |
| Suppliers | 440/4 | €13,147 | €9,297 | -€3,851 | -29.3% |
| Taxes, remuneration and social security | 45 | €30,552 | €14,240 | -€16,312 | -53.4% |
| Taxes | 450/3 | €28,389 | €14,240 | -€14,150 | -49.8% |
| Remuneration and social security | 454/9 | €2,163 | - | -€2,163 | |
| Other amounts payable | 47/48 | €117,190 | €136,594 | +€19,404 | +16.6% |
| Accrued charges and deferred income | 492/3 | €2,555 | - | -€2,555 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,067 | €55,798 | +€5,731 | +11.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,500 | - | -€1,500 | |
| Other operating charges | 640/8 | €26,119 | €10,239 | -€15,881 | -60.8% |
| Gross operating margin | 9900 | €135,661 | €75,024 | -€60,637 | -44.7% |
| Operating profit (loss) | 9901 | €57,975 | €8,987 | -€48,988 | -84.5% |
| Financial charges | 65/66B | €13,722 | €13,666 | -€56 | -0.4% |
| Recurring financial charges | 65 | €13,722 | €13,666 | -€56 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €44,252 | -€4,679 | -€48,931 | |
| Income taxes | 67/77 | €9,739 | €226 | -€9,512 | -97.7% |
| Profit (loss) for the period | 9904 | €34,514 | -€4,905 | -€39,419 | |
| Profit (loss) for the period to be appropriated | 9905 | €34,514 | -€4,905 | -€39,419 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.