TennA: what changed
TennA
Largest movements
- Cash -€200,764
down €200,764 (-74.6%), from €269,172 to €68,408
mainly Other debts (-€223,525) and Debts after one year (-€94,138)
- Receivables within one year +€93,677
up €93,677 (+42.0%), from €222,911 to €316,588
of which Trade receivables: +€83,680
- Other debts -€223,525
no longer reported in 2025 (was €223,525)
- Reserves +€205,667
up €205,667 (+21.6%), from €952,001 to €1.2m
- Debts after one year -€94,138
down €94,138 (-33.2%), from €283,724 to €189,586
- Gross operating margin +€2,206
up €2,206 (+2.0%), from €111,170 to €113,376
- Taxes +€1,570
up €1,570 (+3.3%), from €47,485 to €49,055
- Financial income -€1,489
down €1,489 (-1.0%), from €151,768 to €150,279
- Financial charges -€1,185
down €1,185 (-18.3%), from €6,493 to €5,308
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,624,015 | €1,514,726 | -€109,289 | -6.7% |
| Fixed assets | 21/28 | €1,131,932 | €1,129,730 | -€2,202 | -0.2% |
| Tangible fixed assets | 22/27 | €7,850 | €5,648 | -€2,202 | -28.1% |
| Plant, machinery and equipment | 23 | €1,311 | €842 | -€469 | -35.8% |
| Furniture and vehicles | 24 | €6,539 | €4,806 | -€1,733 | -26.5% |
| Financial fixed assets | 28 | €1,124,082 | €1,124,082 | = | 0.0% |
| Current assets | 29/58 | €492,083 | €384,996 | -€107,087 | -21.8% |
| Amounts receivable within one year | 40/41 | €222,911 | €316,588 | +€93,677 | +42.0% |
| Trade receivables | 40 | €72,911 | €156,591 | +€83,680 | +115% |
| Other amounts receivable | 41 | €150,000 | €159,997 | +€9,997 | +6.7% |
| Cash at bank and in hand | 54/58 | €269,172 | €68,408 | -€200,764 | -74.6% |
| Total equity and liabilities | 10/49 | €1,624,015 | €1,514,726 | -€109,289 | -6.7% |
| Equity | 10/15 | €964,401 | €1,170,068 | +€205,667 | +21.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €952,001 | €1,157,668 | +€205,667 | +21.6% |
| Distributable reserves | 133 | €952,001 | €1,157,668 | +€205,667 | +21.6% |
| Amounts payable | 17/49 | €659,614 | €344,658 | -€314,956 | -47.7% |
| Amounts payable after more than one year | 17 | €283,724 | €189,586 | -€94,138 | -33.2% |
| Financial debts | 170/4 | €283,724 | €189,586 | -€94,138 | -33.2% |
| Amounts payable within one year | 42/48 | €375,890 | €155,072 | -€220,818 | -58.7% |
| Current portion of amounts payable after more than one year | 42 | €90,529 | €92,940 | +€2,411 | +2.7% |
| Trade debts | 44 | €340 | €1,103 | +€763 | +224% |
| Suppliers | 440/4 | €340 | €1,103 | +€763 | +224% |
| Taxes, remuneration and social security | 45 | €61,496 | €61,029 | -€467 | -0.8% |
| Taxes | 450/3 | €61,496 | €61,029 | -€467 | -0.8% |
| Other amounts payable | 47/48 | €223,525 | - | -€223,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,202 | €2,202 | = | 0.0% |
| Other operating charges | 640/8 | €1,730 | €1,423 | -€307 | -17.7% |
| Gross operating margin | 9900 | €111,170 | €113,376 | +€2,206 | +2.0% |
| Operating profit (loss) | 9901 | €107,238 | €109,751 | +€2,513 | +2.3% |
| Financial income | 75/76B | €151,768 | €150,279 | -€1,489 | -1.0% |
| Recurring financial income | 75 | €151,768 | €150,279 | -€1,489 | -1.0% |
| Financial charges | 65/66B | €6,493 | €5,308 | -€1,185 | -18.3% |
| Recurring financial charges | 65 | €6,493 | €5,308 | -€1,185 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €252,513 | €254,722 | +€2,209 | +0.9% |
| Income taxes | 67/77 | €47,485 | €49,055 | +€1,570 | +3.3% |
| Profit (loss) for the period | 9904 | €205,028 | €205,667 | +€639 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €205,028 | €205,667 | +€639 | +0.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.