TENNESSEE: 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.
TENNESSEE
Largest movements
- Cash -€2.0m
down €2.0m (-38.4%), from €5.3m to €3.3m
mainly Current portion of long-term debt (-€26.6m) and Net result for the year (-€968,952)
- Tangible fixed assets -€1.5m
down €1.5m (-3.2%), from €45.0m to €43.5m
of which Land and buildings: -€1.6m
- Current portion of long-term debt -€26.6m
down €26.6m (-100.0%), from €26.6m to €0
- Debts after one year +€24.1m
up €24.1m (+17235.4%), from €139,948 to €24.3m
- Profit (loss) carried forward -€968,952
down €968,952 (-22.5%), from -€4.3m to -€5.3m
- Gross operating margin -€273,622
down €273,622 (-8.0%), from €3.4m to €3.2m
- Financial charges -€178,781
down €178,781 (-13.3%), from €1.3m to €1.2m
- Financial income -€67,474
down €67,474 (-40.4%), from €166,986 to €99,512
- Taxes +€51,602
up €51,602 (+32.8%), from €157,144 to €208,745
- Other operating charges +€47,404
up €47,404 (+5.0%), from €950,795 to €998,199
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 | €51,684,723 | €47,995,897 | -€3.7m | -7.1% |
| Fixed assets | 21/28 | €44,985,992 | €43,527,198 | -€1.5m | -3.2% |
| Tangible fixed assets | 22/27 | €44,985,941 | €43,527,147 | -€1.5m | -3.2% |
| Land and buildings | 22 | €44,985,941 | €43,372,290 | -€1.6m | -3.6% |
| Assets under construction and advance payments | 27 | - | €154,856 | +€154,856 | |
| Financial fixed assets | 28 | €52 | €52 | = | 0.0% |
| Current assets | 29/58 | €6,698,731 | €4,468,699 | -€2.2m | -33.3% |
| Amounts receivable within one year | 40/41 | €480,944 | €325,634 | -€155,310 | -32.3% |
| Trade receivables | 40 | €480,944 | €325,634 | -€155,310 | -32.3% |
| Cash at bank and in hand | 54/58 | €5,293,330 | €3,259,154 | -€2.0m | -38.4% |
| Deferred charges and accrued income | 490/1 | €924,457 | €883,911 | -€40,546 | -4.4% |
| Total equity and liabilities | 10/49 | €51,684,723 | €47,995,897 | -€3.7m | -7.1% |
| Equity | 10/15 | €23,412,493 | €22,443,541 | -€968,952 | -4.1% |
| Contributions | 10/11 | €27,723,626 | €27,723,626 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,311,133 | -€5,280,085 | -€968,952 | -22.5% |
| Provisions and deferred taxes | 16 | €92,697 | €92,697 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €92,697 | €92,697 | = | 0.0% |
| Other liabilities and charges | 164/5 | €92,697 | €92,697 | = | 0.0% |
| Amounts payable | 17/49 | €28,179,533 | €25,459,659 | -€2.7m | -9.7% |
| Amounts payable after more than one year | 17 | €139,948 | €24,260,533 | +€24.1m | +17235.4% |
| Other amounts payable | 178/9 | €139,948 | €24,260,533 | +€24.1m | +17235.4% |
| Amounts payable within one year | 42/48 | €27,057,463 | €200,498 | -€26.9m | -99.3% |
| Current portion of amounts payable after more than one year | 42 | €26,600,000 | €0 | -€26.6m | -100.0% |
| Trade debts | 44 | €407,457 | €173,709 | -€233,748 | -57.4% |
| Suppliers | 440/4 | €407,457 | €173,709 | -€233,748 | -57.4% |
| Taxes, remuneration and social security | 45 | €4,516 | €26,789 | +€22,273 | +493.2% |
| Taxes | 450/3 | €4,516 | €26,789 | +€22,273 | +493.2% |
| Other amounts payable | 47/48 | €45,490 | €0 | -€45,490 | -100.0% |
| Accrued charges and deferred income | 492/3 | €982,123 | €998,628 | +€16,505 | +1.7% |
| Non-recurring operating income | 76A | €0 | €76,800 | +€76,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,824,913 | €1,863,952 | +€39,039 | +2.1% |
| Other operating charges | 640/8 | €950,795 | €998,199 | +€47,404 | +5.0% |
| Gross operating margin | 9900 | €3,441,781 | €3,168,159 | -€273,622 | -8.0% |
| Operating profit (loss) | 9901 | €666,072 | €306,008 | -€360,065 | -54.1% |
| Financial income | 75/76B | €166,986 | €99,512 | -€67,474 | -40.4% |
| Recurring financial income | 75 | €166,986 | €99,512 | -€67,474 | -40.4% |
| Financial charges | 65/66B | €1,344,507 | €1,165,726 | -€178,781 | -13.3% |
| Recurring financial charges | 65 | €1,344,507 | €1,165,726 | -€178,781 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | -€511,449 | -€760,207 | -€248,758 | -48.6% |
| Income taxes | 67/77 | €157,144 | €208,745 | +€51,602 | +32.8% |
| Profit (loss) for the period | 9904 | -€668,592 | -€968,952 | -€300,360 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€668,592 | -€968,952 | -€300,360 | -44.9% |
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.