TENANTE: 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.
TENANTE
Largest movements
- Financial fixed assets -€2.7m
down €2.7m (-49.6%), from €5.4m to €2.7m
- Deferred charges and accrued income +€2.3m
up €2.3m (+7,523%), from €30,201 to €2.3m
- Cash +€857,049
up €857,049 (+98.9%), from €866,908 to €1.7m
mainly Investment in fixed assets (net) (+€2.7m) and Net result for the year (+€882,218)
- Receivables within one year -€180,686
down €180,686 (-23.4%), from €772,645 to €591,959
of which Trade receivables: -€183,721
- Current investments -€150,000
down €150,000 (-42.9%), from €350,000 to €200,000
- Reserves +€872,218
up €872,218 (+15.3%), from €5.7m to €6.6m
of which Distributable reserves: +€872,218
- Debts after one year -€788,038
down €788,038 (-46.7%), from €1.7m to €900,000
of which Other amounts payable: -€738,038
- Financial income +€577,219
up €577,219 (+222%), from €260,408 to €837,628
of which Non-recurring financial income: +€649,786
- Gross operating margin -€146,948
down €146,948 (-30.6%), from €479,662 to €332,714
- Depreciation -€48,336
down €48,336 (-70.8%), from €68,262 to €19,925
- Taxes +€15,348
up €15,348 (+11.9%), from €128,647 to €143,995
- Other operating charges +€6,138
up €6,138 (+202%), from €3,038 to €9,176
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 | €7,870,350 | €7,944,508 | +€74,158 | +0.9% |
| Fixed assets | 21/28 | €5,850,596 | €3,126,252 | -€2.7m | -46.6% |
| Tangible fixed assets | 22/27 | €400,635 | €380,710 | -€19,925 | -5.0% |
| Land and buildings | 22 | €393,910 | €380,710 | -€13,200 | -3.4% |
| Furniture and vehicles | 24 | €6,725 | €0 | -€6,725 | -100% |
| Financial fixed assets | 28 | €5,449,960 | €2,745,542 | -€2.7m | -49.6% |
| Current assets | 29/58 | €2,019,754 | €4,818,256 | +€2.8m | +139% |
| Amounts receivable within one year | 40/41 | €772,645 | €591,959 | -€180,686 | -23.4% |
| Trade receivables | 40 | €233,205 | €49,484 | -€183,721 | -78.8% |
| Other amounts receivable | 41 | €539,440 | €542,475 | +€3,035 | +0.6% |
| Current investments | 50/53 | €350,000 | €200,000 | -€150,000 | -42.9% |
| Cash at bank and in hand | 54/58 | €866,908 | €1,723,957 | +€857,049 | +98.9% |
| Deferred charges and accrued income | 490/1 | €30,201 | €2,302,340 | +€2.3m | +7,523% |
| Total equity and liabilities | 10/49 | €7,870,350 | €7,944,508 | +€74,158 | +0.9% |
| Equity | 10/15 | €5,958,890 | €6,831,107 | +€872,218 | +14.6% |
| Contributions | 10/11 | €266,500 | €266,500 | = | 0.0% |
| Reserves | 13 | €5,692,390 | €6,564,607 | +€872,218 | +15.3% |
| Tax-exempt reserves | 132 | €531,550 | €531,550 | = | 0.0% |
| Distributable reserves | 133 | €5,160,840 | €6,033,057 | +€872,218 | +16.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,911,461 | €1,113,401 | -€798,059 | -41.8% |
| Amounts payable after more than one year | 17 | €1,688,038 | €900,000 | -€788,038 | -46.7% |
| Financial debts | 170/4 | €400,000 | €350,000 | -€50,000 | -12.5% |
| Other amounts payable | 178/9 | €1,288,038 | €550,000 | -€738,038 | -57.3% |
| Amounts payable within one year | 42/48 | €223,420 | €208,822 | -€14,597 | -6.5% |
| Current portion of amounts payable after more than one year | 42 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €33,365 | €0 | -€33,365 | -100% |
| Suppliers | 440/4 | €33,365 | €0 | -€33,365 | -100% |
| Taxes, remuneration and social security | 45 | €94,157 | €117,910 | +€23,753 | +25.2% |
| Taxes | 450/3 | €80,800 | €111,903 | +€31,102 | +38.5% |
| Remuneration and social security | 454/9 | €13,357 | €6,008 | -€7,349 | -55.0% |
| Other amounts payable | 47/48 | €45,897 | €40,912 | -€4,985 | -10.9% |
| Accrued charges and deferred income | 492/3 | €2 | €4,579 | +€4,576 | +185,277% |
| Non-recurring operating income | 76A | - | €54,000 | +€54,000 | |
| Remuneration, social security and pensions | 62 | €45,144 | €47,872 | +€2,728 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,262 | €19,925 | -€48,336 | -70.8% |
| Other operating charges | 640/8 | €3,038 | €9,176 | +€6,138 | +202% |
| Gross operating margin | 9900 | €479,662 | €332,714 | -€146,948 | -30.6% |
| Operating profit (loss) | 9901 | €363,218 | €255,740 | -€107,478 | -29.6% |
| Financial income | 75/76B | €260,408 | €837,628 | +€577,219 | +222% |
| Recurring financial income | 75 | €197,891 | €125,325 | -€72,567 | -36.7% |
| Non-recurring financial income | 76B | €62,517 | €712,303 | +€649,786 | +1,039% |
| Financial charges | 65/66B | €71,467 | €67,155 | -€4,312 | -6.0% |
| Recurring financial charges | 65 | €71,467 | €67,155 | -€4,312 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €552,159 | €1,026,212 | +€474,053 | +85.9% |
| Income taxes | 67/77 | €128,647 | €143,995 | +€15,348 | +11.9% |
| Profit (loss) for the period | 9904 | €423,512 | €882,218 | +€458,705 | +108% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €423,512 | €882,218 | +€458,705 | +108% |
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 15 October 2026 via checked.be.