TENNSTEDT PROJECTS: 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.
TENNSTEDT PROJECTS
Largest movements
- Tangible fixed assets -€583,337
down €583,337 (-92.3%), from €632,266 to €48,929
of which Land and buildings: -€600,918
- Receivables within one year +€135,970
up €135,970 (+640%), from €21,260 to €157,230
of which Trade receivables: +€118,047
- Cash -€99,050
down €99,050 (-96.3%), from €102,808 to €3,758
mainly Debts after one year (-€506,747) and Receivables within one year (-€135,970)
- Debts after one year -€506,747
no longer reported in 2025 (was €506,747)
of which Financial debts: -€499,747
- Profit (loss) carried forward -€123,234
down €123,234, from €1,594 to -€121,639
- Trade debts +€100,698
up €100,698 (+2,533%), from €3,976 to €104,674
- Current portion of long-term debt -€30,144
no longer reported in 2025 (was €30,144)
- Other debts +€7,821
up €7,821 (+61.5%), from €12,712 to €20,533
- Other operating charges +€129,676
up €129,676 (+5,130%), from €2,528 to €132,204
- Gross operating margin -€81,888
down €81,888 (-58.9%), from €138,983 to €57,095
- Depreciation -€25,266
down €25,266 (-70.4%), from €35,874 to €10,608
- Taxes -€21,069
down €21,069 (-97.0%), from €21,726 to €657
- Financial charges +€11,765
up €11,765 (+50.0%), from €23,529 to €35,294
of which Non-recurring financial charges: +€10,298
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 | €759,344 | €211,466 | -€547,878 | -72.2% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €632,266 | €48,929 | -€583,337 | -92.3% |
| Tangible fixed assets | 22/27 | €632,266 | €48,929 | -€583,337 | -92.3% |
| Land and buildings | 22 | €600,918 | - | -€600,918 | |
| Plant, machinery and equipment | 23 | €4,332 | €2,770 | -€1,562 | -36.1% |
| Furniture and vehicles | 24 | €22,994 | €42,643 | +€19,650 | +85.5% |
| Other tangible fixed assets | 26 | €4,023 | €3,516 | -€507 | -12.6% |
| Current assets | 29/58 | €127,078 | €162,537 | +€35,459 | +27.9% |
| Amounts receivable within one year | 40/41 | €21,260 | €157,230 | +€135,970 | +640% |
| Trade receivables | 40 | €16,554 | €134,601 | +€118,047 | +713% |
| Other amounts receivable | 41 | €4,707 | €22,629 | +€17,922 | +381% |
| Cash at bank and in hand | 54/58 | €102,808 | €3,758 | -€99,050 | -96.3% |
| Deferred charges and accrued income | 490/1 | €3,010 | €1,549 | -€1,460 | -48.5% |
| Total equity and liabilities | 10/49 | €759,344 | €211,466 | -€547,878 | -72.2% |
| Equity | 10/15 | €195,094 | €71,861 | -€123,234 | -63.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €189,500 | €189,500 | = | 0.0% |
| Distributable reserves | 133 | €189,500 | €189,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,594 | -€121,639 | -€123,234 | |
| Amounts payable | 17/49 | €564,250 | €139,606 | -€424,644 | -75.3% |
| Amounts payable after more than one year | 17 | €506,747 | - | -€506,747 | |
| Financial debts | 170/4 | €499,747 | - | -€499,747 | |
| Other amounts payable | 178/9 | €7,000 | - | -€7,000 | |
| Amounts payable within one year | 42/48 | €57,203 | €139,606 | +€82,402 | +144% |
| Current portion of amounts payable after more than one year | 42 | €30,144 | - | -€30,144 | |
| Trade debts | 44 | €3,976 | €104,674 | +€100,698 | +2,533% |
| Suppliers | 440/4 | €3,976 | €104,674 | +€100,698 | +2,533% |
| Taxes, remuneration and social security | 45 | €10,372 | €14,399 | +€4,027 | +38.8% |
| Taxes | 450/3 | €6,672 | €14,399 | +€7,727 | +116% |
| Remuneration and social security | 454/9 | €3,700 | - | -€3,700 | |
| Other amounts payable | 47/48 | €12,712 | €20,533 | +€7,821 | +61.5% |
| Accrued charges and deferred income | 492/3 | €300 | - | -€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,874 | €10,608 | -€25,266 | -70.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,566 | +€1,566 | |
| Other operating charges | 640/8 | €2,528 | €132,204 | +€129,676 | +5,130% |
| Gross operating margin | 9900 | €138,983 | €57,095 | -€81,888 | -58.9% |
| Operating profit (loss) | 9901 | €100,581 | -€87,282 | -€187,864 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -86.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -86.7% |
| Financial charges | 65/66B | €23,529 | €35,294 | +€11,765 | +50.0% |
| Recurring financial charges | 65 | €23,529 | €24,996 | +€1,467 | +6.2% |
| Non-recurring financial charges | 66B | - | €10,298 | +€10,298 | |
| Profit (loss) for the period before taxes | 9903 | €77,052 | -€122,577 | -€199,629 | |
| Income taxes | 67/77 | €21,726 | €657 | -€21,069 | -97.0% |
| Profit (loss) for the period | 9904 | €55,326 | -€123,234 | -€178,560 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,326 | -€123,234 | -€178,560 |
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 17 October 2026 via checked.be.