TENDERCENTRALE: 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.
TENDERCENTRALE
Largest movements
- Receivables within one year +€227,967
up €227,967 (+274%), from €83,137 to €311,104
of which Trade receivables: +€310,413
- Current investments -€200,000
down €200,000 (-100%), from €200,000 to €0
- Intangible fixed assets +€60,255
up €60,255 (+141%), from €42,665 to €102,920
- Cash -€7,221
down €7,221 (-17.2%), from €41,977 to €34,756
mainly Net result for the year (-€562,241) and Receivables within one year (-€227,967)
- Profit (loss) carried forward -€562,241
down €562,241 (-175%), from -€320,514 to -€882,755
- Debts after one year +€450,000
new in 2025: €450,000
- Trade debts +€123,468
up €123,468 (+151%), from €81,693 to €205,162
- Accrued charges and deferred income +€40,427
new in 2025: €40,427
- Tax, wage and social debts +€32,094
up €32,094 (+486%), from €6,600 to €38,693
of which Remuneration and social security: +€28,924
- Staff costs +€130,328
new in 2025: €130,328
- Gross operating margin -€80,323
down €80,323 (-25.3%), from -€317,242 to -€397,565
- Financial charges +€17,558
up €17,558 (+58,527%), from €30 to €17,588
- Depreciation +€13,188
up €13,188 (+313%), from €4,210 to €17,398
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 | €367,779 | €451,526 | +€83,747 | +22.8% |
| Fixed assets | 21/28 | €42,665 | €105,303 | +€62,638 | +147% |
| Intangible fixed assets | 21 | €42,665 | €102,920 | +€60,255 | +141% |
| Tangible fixed assets | 22/27 | - | €2,383 | +€2,383 | |
| Furniture and vehicles | 24 | - | €2,383 | +€2,383 | |
| Current assets | 29/58 | €325,114 | €346,223 | +€21,109 | +6.5% |
| Amounts receivable within one year | 40/41 | €83,137 | €311,104 | +€227,967 | +274% |
| Trade receivables | 40 | - | €310,413 | +€310,413 | |
| Other amounts receivable | 41 | €83,137 | €690 | -€82,446 | -99.2% |
| Current investments | 50/53 | €200,000 | €0 | -€200,000 | -100% |
| Cash at bank and in hand | 54/58 | €41,977 | €34,756 | -€7,221 | -17.2% |
| Deferred charges and accrued income | 490/1 | - | €363 | +€363 | |
| Total equity and liabilities | 10/49 | €367,779 | €451,526 | +€83,747 | +22.8% |
| Equity | 10/15 | €279,486 | -€282,755 | -€562,241 | |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€320,514 | -€882,755 | -€562,241 | -175% |
| Amounts payable | 17/49 | €88,293 | €734,282 | +€645,989 | +732% |
| Amounts payable after more than one year | 17 | - | €450,000 | +€450,000 | |
| Financial debts | 170/4 | - | €450,000 | +€450,000 | |
| Amounts payable within one year | 42/48 | €88,293 | €243,855 | +€155,562 | +176% |
| Trade debts | 44 | €81,693 | €205,162 | +€123,468 | +151% |
| Suppliers | 440/4 | €81,693 | €205,162 | +€123,468 | +151% |
| Taxes, remuneration and social security | 45 | €6,600 | €38,693 | +€32,094 | +486% |
| Taxes | 450/3 | €6,600 | €9,769 | +€3,170 | +48.0% |
| Remuneration and social security | 454/9 | - | €28,924 | +€28,924 | |
| Accrued charges and deferred income | 492/3 | - | €40,427 | +€40,427 | |
| Remuneration, social security and pensions | 62 | - | €130,328 | +€130,328 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,210 | €17,398 | +€13,188 | +313% |
| Other operating charges | 640/8 | - | €377 | +€377 | |
| Gross operating margin | 9900 | -€317,242 | -€397,565 | -€80,323 | -25.3% |
| Operating profit (loss) | 9901 | -€321,452 | -€545,667 | -€224,215 | -69.8% |
| Financial income | 75/76B | €968 | €1,362 | +€393 | +40.6% |
| Recurring financial income | 75 | €968 | €1,362 | +€393 | +40.6% |
| Financial charges | 65/66B | €30 | €17,588 | +€17,558 | +58,527% |
| Recurring financial charges | 65 | €30 | €17,588 | +€17,558 | +58,527% |
| Profit (loss) for the period before taxes | 9903 | -€320,514 | -€561,894 | -€241,380 | -75.3% |
| Income taxes | 67/77 | - | €348 | +€348 | |
| Profit (loss) for the period | 9904 | -€320,514 | -€562,241 | -€241,728 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€320,514 | -€562,241 | -€241,728 | -75.4% |
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 18 October 2026 via checked.be.