TENEP: 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.
TENEP
Largest movements
- Tangible fixed assets +€22,876
up €22,876 (+2,551%), from €897 to €23,773
of which Furniture and vehicles: +€23,558
- Receivables within one year -€9,547
down €9,547 (-9.5%), from €100,498 to €90,951
of which Trade receivables: -€55,011
- Deferred charges and accrued income +€1,856
new in 2025: €1,856
- Profit (loss) carried forward +€19,636
up €19,636 (+41.3%), from €47,494 to €67,130
- Trade debts -€2,899
down €2,899 (-7.2%), from €40,117 to €37,218
- Tax, wage and social debts -€2,661
down €2,661 (-24.7%), from €10,782 to €8,120
of which Remuneration and social security: -€2,500
- Gross operating margin -€14,291
down €14,291 (-39.3%), from €36,402 to €22,112
- Taxes -€9,165
down €9,165 (-88.1%), from €10,402 to €1,236
- Depreciation -€1,301
down €1,301 (-56.8%), from €2,290 to €989
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €104,593 | €118,668 | +€14,075 | +13.5% |
| Fixed assets | 21/28 | €897 | €23,773 | +€22,876 | +2,551% |
| Tangible fixed assets | 22/27 | €897 | €23,773 | +€22,876 | +2,551% |
| Plant, machinery and equipment | 23 | €897 | €215 | -€682 | -76.0% |
| Furniture and vehicles | 24 | - | €23,558 | +€23,558 | |
| Current assets | 29/58 | €103,696 | €94,895 | -€8,801 | -8.5% |
| Amounts receivable within one year | 40/41 | €100,498 | €90,951 | -€9,547 | -9.5% |
| Trade receivables | 40 | €86,282 | €31,271 | -€55,011 | -63.8% |
| Other amounts receivable | 41 | €14,216 | €59,680 | +€45,464 | +320% |
| Cash at bank and in hand | 54/58 | €3,198 | €2,088 | -€1,110 | -34.7% |
| Deferred charges and accrued income | 490/1 | - | €1,856 | +€1,856 | |
| Total equity and liabilities | 10/49 | €104,593 | €118,668 | +€14,075 | +13.5% |
| Equity | 10/15 | €53,694 | €73,330 | +€19,636 | +36.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,494 | €67,130 | +€19,636 | +41.3% |
| Amounts payable | 17/49 | €50,899 | €45,338 | -€5,561 | -10.9% |
| Amounts payable within one year | 42/48 | €50,899 | €45,338 | -€5,561 | -10.9% |
| Trade debts | 44 | €40,117 | €37,218 | -€2,899 | -7.2% |
| Suppliers | 440/4 | €40,117 | €37,218 | -€2,899 | -7.2% |
| Taxes, remuneration and social security | 45 | €10,782 | €8,120 | -€2,661 | -24.7% |
| Taxes | 450/3 | €8,282 | €8,120 | -€161 | -1.9% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,290 | €989 | -€1,301 | -56.8% |
| Other operating charges | 640/8 | €629 | €299 | -€330 | -52.4% |
| Gross operating margin | 9900 | €36,402 | €22,112 | -€14,291 | -39.3% |
| Operating profit (loss) | 9901 | €33,483 | €20,823 | -€12,660 | -37.8% |
| Financial income | 75/76B | €27 | €212 | +€185 | +686% |
| Recurring financial income | 75 | €27 | €212 | +€185 | +686% |
| Financial charges | 65/66B | €384 | €164 | -€220 | -57.4% |
| Recurring financial charges | 65 | €384 | €164 | -€220 | -57.4% |
| Profit (loss) for the period before taxes | 9903 | €33,126 | €20,872 | -€12,254 | -37.0% |
| Income taxes | 67/77 | €10,402 | €1,236 | -€9,165 | -88.1% |
| Profit (loss) for the period | 9904 | €22,725 | €19,636 | -€3,089 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €22,725 | €19,636 | -€3,089 | -13.6% |
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.