TENGI: 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.
TENGI
Largest movements
- Cash -€24,805
down €24,805 (-58.1%), from €42,661 to €17,856
mainly Investment in fixed assets (net) (-€37,474) and Contributions, distributions and other (-€14,360)
- Tangible fixed assets +€21,963
up €21,963 (+52.6%), from €41,784 to €63,747
of which Furniture and vehicles: +€23,610
- Receivables within one year +€5,859
up €5,859 (+19.5%), from €30,008 to €35,866
of which Trade receivables: +€3,170
- Reserves +€15,894
up €15,894 (+21.0%), from €75,700 to €91,593
of which Distributable reserves: +€17,704
- Debts after one year -€12,108
down €12,108 (-56.7%), from €21,358 to €9,251
- Tax, wage and social debts -€2,163
down €2,163 (-88.3%), from €2,450 to €287
- Trade debts +€1,371
up €1,371 (+86.3%), from €1,589 to €2,960
- Gross operating margin +€26,434
up €26,434 (+75.8%), from €34,875 to €61,309
- Taxes +€8,068
up €8,068 (+129.7%), from €6,219 to €14,287
- Depreciation -€3,754
down €3,754 (-19.5%), from €19,265 to €15,511
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 | €114,674 | €117,469 | +€2,795 | +2.4% |
| Fixed assets | 21/28 | €41,784 | €63,747 | +€21,963 | +52.6% |
| Tangible fixed assets | 22/27 | €41,784 | €63,747 | +€21,963 | +52.6% |
| Plant, machinery and equipment | 23 | €488 | €174 | -€314 | -64.4% |
| Furniture and vehicles | 24 | €35,770 | €59,380 | +€23,610 | +66.0% |
| Other tangible fixed assets | 26 | €5,526 | €4,193 | -€1,333 | -24.1% |
| Current assets | 29/58 | €72,890 | €53,722 | -€19,168 | -26.3% |
| Amounts receivable within one year | 40/41 | €30,008 | €35,866 | +€5,859 | +19.5% |
| Trade receivables | 40 | €29,148 | €32,317 | +€3,170 | +10.9% |
| Other amounts receivable | 41 | €860 | €3,549 | +€2,689 | +312.7% |
| Cash at bank and in hand | 54/58 | €42,661 | €17,856 | -€24,805 | -58.1% |
| Deferred charges and accrued income | 490/1 | €222 | €0 | -€222 | -100.0% |
| Total equity and liabilities | 10/49 | €114,674 | €117,469 | +€2,795 | +2.4% |
| Equity | 10/15 | €76,200 | €92,093 | +€15,894 | +20.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €75,700 | €91,593 | +€15,894 | +21.0% |
| Tax-exempt reserves | 132 | €4,894 | €3,084 | -€1,810 | -37.0% |
| Distributable reserves | 133 | €70,805 | €88,509 | +€17,704 | +25.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €1,224 | €771 | -€452 | -37.0% |
| Deferred taxes | 168 | €1,224 | €771 | -€452 | -37.0% |
| Amounts payable | 17/49 | €37,251 | €24,605 | -€12,646 | -33.9% |
| Amounts payable after more than one year | 17 | €21,358 | €9,251 | -€12,108 | -56.7% |
| Financial debts | 170/4 | €21,358 | €9,251 | -€12,108 | -56.7% |
| Amounts payable within one year | 42/48 | €15,893 | €15,354 | -€539 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €11,854 | €12,108 | +€254 | +2.1% |
| Trade debts | 44 | €1,589 | €2,960 | +€1,371 | +86.3% |
| Suppliers | 440/4 | €1,589 | €2,960 | +€1,371 | +86.3% |
| Taxes, remuneration and social security | 45 | €2,450 | €287 | -€2,163 | -88.3% |
| Taxes | 450/3 | €2,450 | €287 | -€2,163 | -88.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,265 | €15,511 | -€3,754 | -19.5% |
| Other operating charges | 640/8 | €784 | €999 | +€214 | +27.3% |
| Gross operating margin | 9900 | €34,875 | €61,309 | +€26,434 | +75.8% |
| Operating profit (loss) | 9901 | €14,825 | €44,799 | +€29,974 | +202.2% |
| Financial income | 75/76B | €36 | €0 | -€36 | -98.7% |
| Recurring financial income | 75 | €36 | €0 | -€36 | -98.7% |
| Financial charges | 65/66B | €996 | €711 | -€285 | -28.6% |
| Recurring financial charges | 65 | €996 | €711 | -€285 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €13,866 | €44,088 | +€30,223 | +218.0% |
| Transfer from deferred taxes | 780 | €452 | €452 | = | 0.0% |
| Income taxes | 67/77 | €6,219 | €14,287 | +€8,068 | +129.7% |
| Profit (loss) for the period | 9904 | €8,099 | €30,254 | +€22,155 | +273.6% |
| Transfer from tax-exempt reserves | 789 | €1,810 | €1,810 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,909 | €32,064 | +€22,155 | +223.6% |
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 9 October 2026 via checked.be.