TENAX RUBBER: 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.
TENAX RUBBER
Largest movements
- Financial fixed assets +€500,000
up €500,000 (+200,000%), from €250 to €500,250
- Cash +€55,040
up €55,040 (+148%), from €37,280 to €92,320
mainly Debts after one year (+€489,874) and Depreciation (+€62,753)
- Stocks and contracts +€41,304
up €41,304 (+17.4%), from €237,872 to €279,176
- Tangible fixed assets +€22,410
up €22,410 (+11.8%), from €190,085 to €212,495
of which Assets under construction and advance payments: +€71,700
- Debts after one year +€489,874
up €489,874 (+216%), from €226,952 to €716,826
- Reserves +€60,000
up €60,000 (+18.6%), from €322,000 to €382,000
of which Distributable reserves: +€60,000
- Short-term financial debts +€35,000
new in 2025: €35,000
- Tax, wage and social debts +€27,026
up €27,026 (+34.8%), from €77,711 to €104,737
of which Taxes: +€24,491
- Trade debts +€19,640
up €19,640 (+87.3%), from €22,492 to €42,132
- Gross operating margin +€68,102
up €68,102 (+27.8%), from €244,552 to €312,654
- Staff costs +€43,452
up €43,452 (+41.6%), from €104,391 to €147,843
- Depreciation +€6,060
up €6,060 (+10.7%), from €56,693 to €62,753
- Taxes +€5,373
up €5,373 (+30.3%), from €17,724 to €23,096
- Financial charges -€4,475
down €4,475 (-28.0%), from €15,976 to €11,501
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 | €854,899 | €1,480,287 | +€625,388 | +73.2% |
| Fixed assets | 21/28 | €191,782 | €713,921 | +€522,140 | +272% |
| Intangible fixed assets | 21 | €1,447 | €1,177 | -€270 | -18.7% |
| Tangible fixed assets | 22/27 | €190,085 | €212,495 | +€22,410 | +11.8% |
| Plant, machinery and equipment | 23 | €190,085 | €140,795 | -€49,290 | -25.9% |
| Assets under construction and advance payments | 27 | - | €71,700 | +€71,700 | |
| Financial fixed assets | 28 | €250 | €500,250 | +€500,000 | +200,000% |
| Current assets | 29/58 | €663,117 | €766,366 | +€103,249 | +15.6% |
| Stocks and contracts in progress | 3 | €237,872 | €279,176 | +€41,304 | +17.4% |
| Stocks | 30/36 | €237,872 | €279,176 | +€41,304 | +17.4% |
| Amounts receivable within one year | 40/41 | €364,078 | €371,268 | +€7,190 | +2.0% |
| Trade receivables | 40 | €183,213 | €161,435 | -€21,778 | -11.9% |
| Other amounts receivable | 41 | €180,865 | €209,833 | +€28,968 | +16.0% |
| Current investments | 50/53 | €12,000 | €12,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €37,280 | €92,320 | +€55,040 | +148% |
| Deferred charges and accrued income | 490/1 | €11,887 | €11,601 | -€286 | -2.4% |
| Total equity and liabilities | 10/49 | €854,899 | €1,480,287 | +€625,388 | +73.2% |
| Equity | 10/15 | €426,016 | €488,408 | +€62,391 | +14.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €322,000 | €382,000 | +€60,000 | +18.6% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €320,000 | €380,000 | +€60,000 | +18.8% |
| Profit (loss) carried forward | 14 | €4,016 | €6,408 | +€2,391 | +59.5% |
| Amounts payable | 17/49 | €428,883 | €991,880 | +€562,997 | +131% |
| Amounts payable after more than one year | 17 | €226,952 | €716,826 | +€489,874 | +216% |
| Financial debts | 170/4 | €226,952 | €716,826 | +€489,874 | +216% |
| Amounts payable within one year | 42/48 | €201,729 | €274,927 | +€73,198 | +36.3% |
| Current portion of amounts payable after more than one year | 42 | €88,181 | €81,058 | -€7,123 | -8.1% |
| Financial debts | 43 | - | €35,000 | +€35,000 | |
| Credit institutions | 430/8 | - | €35,000 | +€35,000 | |
| Trade debts | 44 | €22,492 | €42,132 | +€19,640 | +87.3% |
| Suppliers | 440/4 | €22,492 | €42,132 | +€19,640 | +87.3% |
| Taxes, remuneration and social security | 45 | €77,711 | €104,737 | +€27,026 | +34.8% |
| Taxes | 450/3 | €73,972 | €98,463 | +€24,491 | +33.1% |
| Remuneration and social security | 454/9 | €3,739 | €6,274 | +€2,535 | +67.8% |
| Other amounts payable | 47/48 | €13,345 | €12,000 | -€1,345 | -10.1% |
| Accrued charges and deferred income | 492/3 | €202 | €127 | -€75 | -36.9% |
| Non-recurring operating income | 76A | €119 | €0 | -€119 | -100% |
| Remuneration, social security and pensions | 62 | €104,391 | €147,843 | +€43,452 | +41.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,693 | €62,753 | +€6,060 | +10.7% |
| Other operating charges | 640/8 | €9,317 | €8,333 | -€984 | -10.6% |
| Non-recurring operating charges | 66A | €409 | €0 | -€409 | -100% |
| Gross operating margin | 9900 | €244,552 | €312,654 | +€68,102 | +27.8% |
| Operating profit (loss) | 9901 | €73,743 | €93,726 | +€19,983 | +27.1% |
| Financial income | 75/76B | €2,878 | €3,262 | +€384 | +13.3% |
| Recurring financial income | 75 | €2,878 | €3,262 | +€384 | +13.3% |
| Financial charges | 65/66B | €15,976 | €11,501 | -€4,475 | -28.0% |
| Recurring financial charges | 65 | €15,976 | €11,501 | -€4,475 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €60,646 | €85,488 | +€24,842 | +41.0% |
| Income taxes | 67/77 | €17,724 | €23,096 | +€5,373 | +30.3% |
| Profit (loss) for the period | 9904 | €42,922 | €62,391 | +€19,469 | +45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €42,922 | €62,391 | +€19,469 | +45.4% |
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 26 October 2026 via checked.be.