TENCO: 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.
TENCO
Largest movements
- Cash +€25,051
up €25,051 (+162%), from €15,492 to €40,542
mainly Net result for the year (+€88,997) and Deferred charges and accrued income (+€16,569)
- Receivables within one year +€23,995
up €23,995 (+38.2%), from €62,836 to €86,831
of which Other amounts receivable: +€18,027
- Deferred charges and accrued income -€16,569
no longer reported in 2025 (was €16,569)
- Tangible fixed assets +€10,696
up €10,696 (+88.9%), from €12,029 to €22,725
of which Furniture and vehicles: +€13,051
- Reserves +€36,501
up €36,501 (+50.5%), from €72,349 to €108,850
of which Distributable reserves: +€36,501
- Debts after one year +€15,000
new in 2025: €15,000
- Tax, wage and social debts -€6,618
down €6,618 (-58.2%), from €11,376 to €4,758
- Current portion of long-term debt -€2,490
no longer reported in 2025 (was €2,490)
- Gross operating margin +€43,842
up €43,842 (+30.0%), from €145,998 to €189,840
- Depreciation -€35,218
down €35,218 (-86.3%), from €40,817 to €5,599
- Taxes +€19,824
up €19,824 (+148%), from €13,354 to €33,178
- Staff costs +€8,524
up €8,524 (+24.6%), from €34,708 to €43,232
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 | €106,927 | €150,099 | +€43,172 | +40.4% |
| Fixed assets | 21/28 | €12,029 | €22,725 | +€10,696 | +88.9% |
| Tangible fixed assets | 22/27 | €12,029 | €22,725 | +€10,696 | +88.9% |
| Land and buildings | 22 | €2,823 | €2,118 | -€706 | -25.0% |
| Plant, machinery and equipment | 23 | €2,399 | €750 | -€1,649 | -68.7% |
| Furniture and vehicles | 24 | €6,807 | €19,857 | +€13,051 | +192% |
| Current assets | 29/58 | €94,897 | €127,374 | +€32,476 | +34.2% |
| Amounts receivable within one year | 40/41 | €62,836 | €86,831 | +€23,995 | +38.2% |
| Trade receivables | 40 | €52,191 | €58,159 | +€5,968 | +11.4% |
| Other amounts receivable | 41 | €10,646 | €28,672 | +€18,027 | +169% |
| Cash at bank and in hand | 54/58 | €15,492 | €40,542 | +€25,051 | +162% |
| Deferred charges and accrued income | 490/1 | €16,569 | - | -€16,569 | |
| Total equity and liabilities | 10/49 | €106,927 | €150,099 | +€43,172 | +40.4% |
| Equity | 10/15 | €93,002 | €129,503 | +€36,501 | +39.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | - | -€20,000 | |
| Other | 1109/19 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €72,349 | €108,850 | +€36,501 | +50.5% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,879 | €7,879 | = | 0.0% |
| Distributable reserves | 133 | €62,471 | €98,971 | +€36,501 | +58.4% |
| Profit (loss) carried forward | 14 | €653 | €653 | = | 0.0% |
| Amounts payable | 17/49 | €13,925 | €20,596 | +€6,671 | +47.9% |
| Amounts payable after more than one year | 17 | - | €15,000 | +€15,000 | |
| Financial debts | 170/4 | - | €15,000 | +€15,000 | |
| Amounts payable within one year | 42/48 | €13,925 | €5,596 | -€8,329 | -59.8% |
| Current portion of amounts payable after more than one year | 42 | €2,490 | - | -€2,490 | |
| Trade debts | 44 | €58 | €837 | +€779 | +1,339% |
| Suppliers | 440/4 | €58 | €837 | +€779 | +1,339% |
| Taxes, remuneration and social security | 45 | €11,376 | €4,758 | -€6,618 | -58.2% |
| Taxes | 450/3 | €11,376 | €4,758 | -€6,618 | -58.2% |
| Remuneration, social security and pensions | 62 | €34,708 | €43,232 | +€8,524 | +24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,817 | €5,599 | -€35,218 | -86.3% |
| Other operating charges | 640/8 | €16,540 | €18,360 | +€1,820 | +11.0% |
| Gross operating margin | 9900 | €145,998 | €189,840 | +€43,842 | +30.0% |
| Operating profit (loss) | 9901 | €53,933 | €122,648 | +€68,716 | +127% |
| Financial charges | 65/66B | €974 | €473 | -€501 | -51.4% |
| Recurring financial charges | 65 | €974 | €473 | -€501 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €52,959 | €122,175 | +€69,216 | +131% |
| Income taxes | 67/77 | €13,354 | €33,178 | +€19,824 | +148% |
| Profit (loss) for the period | 9904 | €39,604 | €88,997 | +€49,392 | +125% |
| Profit (loss) for the period to be appropriated | 9905 | €39,604 | €88,997 | +€49,392 | +125% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.