Tenax: what changed
Two fiscal 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.
Tenax
Largest movements
- Current investments +€50,000
up €50,000 (+20000.0%), from €250 to €50,250
- Receivables within one year -€27,178
down €27,178 (-39.5%), from €68,814 to €41,635
of which Other amounts receivable: -€24,448
- Cash -€11,422
down €11,422 (-30.1%), from €37,894 to €26,472
mainly Current investments (-€50,000) and Accrued charges and deferred income (-€11,446)
- Accrued charges and deferred income -€11,446
down €11,446 (-100.0%), from €11,446 to €0
- Other debts +€11,032
up €11,032 (+15.6%), from €70,733 to €81,765
- Trade debts +€8,675
up €8,675 (+243.1%), from €3,569 to €12,244
- Reserves +€4,505
up €4,505 (+85.4%), from €5,272 to €9,777
of which Distributable reserves: +€4,505
- Tax, wage and social debts -€3,409
down €3,409 (-66.9%), from €5,097 to €1,687
- Financial income -€22,852
down €22,852 (-91.7%), from €24,923 to €2,071
of which Financial income: -€22,852
- Gross operating margin +€14,808
up €14,808 (+94.6%), from €15,661 to €30,470
- Taxes -€10,503
down €10,503 (-70.8%), from €14,843 to €4,340
- Write-downs +€2,731
new in 2025: €2,731
- Financial charges +€2,649
up €2,649 (+101.3%), from €2,614 to €5,262
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.
Cash bridge derived
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 | €200,920 | €210,655 | +€9,735 | +4.8% |
| Fixed assets | 21/28 | €92,382 | €90,606 | -€1,777 | -1.9% |
| Tangible fixed assets | 22/27 | €92,382 | €90,606 | -€1,777 | -1.9% |
| Land and buildings | 22 | €92,155 | €90,606 | -€1,549 | -1.7% |
| Furniture and vehicles | 24 | €227 | €0 | -€227 | -100.0% |
| Current assets | 29/58 | €108,537 | €120,050 | +€11,512 | +10.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €68,814 | €41,635 | -€27,178 | -39.5% |
| Trade receivables | 40 | €5,462 | €2,731 | -€2,731 | -50.0% |
| Other amounts receivable | 41 | €63,352 | €38,904 | -€24,448 | -38.6% |
| Current investments | 50/53 | €250 | €50,250 | +€50,000 | +20000.0% |
| Cash at bank and in hand | 54/58 | €37,894 | €26,472 | -€11,422 | -30.1% |
| Deferred charges and accrued income | 490/1 | €1,580 | €1,693 | +€113 | +7.2% |
| Total equity and liabilities | 10/49 | €200,920 | €210,655 | +€9,735 | +4.8% |
| Equity | 10/15 | €110,076 | €114,582 | +€4,506 | +4.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €5,272 | €9,777 | +€4,505 | +85.4% |
| Non-distributable reserves | 130/1 | €517 | €517 | = | 0.0% |
| Legal reserve | 130 | €517 | €517 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €4,755 | €9,260 | +€4,505 | +94.7% |
| Profit (loss) carried forward | 14 | €43,304 | €43,305 | +€2 | 0.0% |
| Amounts payable | 17/49 | €90,844 | €96,073 | +€5,229 | +5.8% |
| Amounts payable within one year | 42/48 | €79,399 | €96,073 | +€16,675 | +21.0% |
| Trade debts | 44 | €3,569 | €12,244 | +€8,675 | +243.1% |
| Suppliers | 440/4 | €3,569 | €12,244 | +€8,675 | +243.1% |
| Advances received on contracts in progress | 46 | - | €377 | +€377 | |
| Taxes, remuneration and social security | 45 | €5,097 | €1,687 | -€3,409 | -66.9% |
| Taxes | 450/3 | €5,097 | €1,687 | -€3,409 | -66.9% |
| Other amounts payable | 47/48 | €70,733 | €81,765 | +€11,032 | +15.6% |
| Accrued charges and deferred income | 492/3 | €11,446 | €0 | -€11,446 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,973 | €1,777 | -€196 | -9.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,731 | +€2,731 | |
| Other operating charges | 640/8 | €7,025 | €9,169 | +€2,144 | +30.5% |
| Gross operating margin | 9900 | €15,661 | €30,470 | +€14,808 | +94.6% |
| Operating profit (loss) | 9901 | €6,663 | €16,793 | +€10,130 | +152.0% |
| Financial income | 75/76B | €24,923 | €2,071 | -€22,852 | -91.7% |
| Recurring financial income | 75 | €24,923 | €2,071 | -€22,852 | -91.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €2,614 | €5,262 | +€2,649 | +101.3% |
| Recurring financial charges | 65 | €2,614 | €5,262 | +€2,649 | +101.3% |
| Profit (loss) for the period before taxes | 9903 | €28,973 | €13,601 | -€15,372 | -53.1% |
| Income taxes | 67/77 | €14,843 | €4,340 | -€10,503 | -70.8% |
| Profit (loss) for the period | 9904 | €14,130 | €9,262 | -€4,868 | -34.5% |
| Transfer from tax-exempt reserves | 789 | €29,174 | €0 | -€29,174 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,304 | €9,262 | -€34,042 | -78.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.