TENO: what changed
Two fiscal 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.
TENO
Largest movements
- Cash -€194,791
down €194,791 (-88.8%), from €219,430 to €24,639
mainly Current investments (-€191,030) and Debts after one year (-€115,000)
- Current investments +€191,030
new in 2025: €191,030
- Tangible fixed assets +€23,238
up €23,238 (+3.2%), from €724,859 to €748,097
of which Plant, machinery and equipment: +€12,159
- Reserves +€132,390
up €132,390 (+47.3%), from €279,889 to €412,279
of which Distributable reserves: +€132,390
- Debts after one year -€115,000
down €115,000 (-50.0%), from €230,000 to €115,000
- Trade debts +€26,577
up €26,577 (+569.6%), from €4,666 to €31,242
- Tax, wage and social debts -€18,645
down €18,645 (-100.0%), from €18,645 to €0
- Financial charges +€18,242
up €18,242 (+154.5%), from €11,806 to €30,048
- Taxes -€13,801
down €13,801 (-18.2%), from €75,734 to €61,933
- Gross operating margin -€13,133
down €13,133 (-4.8%), from €272,574 to €259,441
- Other operating charges +€7,817
up €7,817 (+199.3%), from €3,923 to €11,739
- Depreciation +€4,821
up €4,821 (+17.6%), from €27,434 to €32,255
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 | €951,537 | €967,883 | +€16,346 | +1.7% |
| Fixed assets | 21/28 | €724,859 | €748,097 | +€23,238 | +3.2% |
| Tangible fixed assets | 22/27 | €724,859 | €748,097 | +€23,238 | +3.2% |
| Land and buildings | 22 | €717,001 | €728,081 | +€11,079 | +1.5% |
| Plant, machinery and equipment | 23 | €7,857 | €20,016 | +€12,159 | +154.7% |
| Current assets | 29/58 | €226,678 | €219,786 | -€6,892 | -3.0% |
| Amounts receivable within one year | 40/41 | €4,666 | €121 | -€4,544 | -97.4% |
| Trade receivables | 40 | €4,666 | €0 | -€4,666 | -100.0% |
| Other amounts receivable | 41 | - | €121 | +€121 | |
| Current investments | 50/53 | - | €191,030 | +€191,030 | |
| Cash at bank and in hand | 54/58 | €219,430 | €24,639 | -€194,791 | -88.8% |
| Deferred charges and accrued income | 490/1 | €2,583 | €3,996 | +€1,413 | +54.7% |
| Total equity and liabilities | 10/49 | €951,537 | €967,883 | +€16,346 | +1.7% |
| Equity | 10/15 | €677,261 | €809,651 | +€132,390 | +19.5% |
| Contributions | 10/11 | €62,472 | €62,472 | = | 0.0% |
| Capital | 10 | €62,472 | €62,472 | = | 0.0% |
| Issued capital | 100 | €62,472 | €62,472 | = | 0.0% |
| Reserves | 13 | €279,889 | €412,279 | +€132,390 | +47.3% |
| Non-distributable reserves | 130/1 | €6,247 | €6,247 | = | 0.0% |
| Legal reserve | 130 | €6,247 | €6,247 | = | 0.0% |
| Distributable reserves | 133 | €273,642 | €406,032 | +€132,390 | +48.4% |
| Profit (loss) carried forward | 14 | €334,900 | €334,900 | = | 0.0% |
| Amounts payable | 17/49 | €274,276 | €158,231 | -€116,044 | -42.3% |
| Amounts payable after more than one year | 17 | €230,000 | €115,000 | -€115,000 | -50.0% |
| Financial debts | 170/4 | €230,000 | €115,000 | -€115,000 | -50.0% |
| Amounts payable within one year | 42/48 | €32,615 | €35,894 | +€3,278 | +10.1% |
| Trade debts | 44 | €4,666 | €31,242 | +€26,577 | +569.6% |
| Suppliers | 440/4 | €4,666 | €31,242 | +€26,577 | +569.6% |
| Taxes, remuneration and social security | 45 | €18,645 | €0 | -€18,645 | -100.0% |
| Taxes | 450/3 | €18,645 | €0 | -€18,645 | -100.0% |
| Other amounts payable | 47/48 | €9,305 | €4,651 | -€4,653 | -50.0% |
| Accrued charges and deferred income | 492/3 | €11,660 | €7,338 | -€4,322 | -37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,434 | €32,255 | +€4,821 | +17.6% |
| Other operating charges | 640/8 | €3,923 | €11,739 | +€7,817 | +199.3% |
| Gross operating margin | 9900 | €272,574 | €259,441 | -€13,133 | -4.8% |
| Operating profit (loss) | 9901 | €241,217 | €215,446 | -€25,770 | -10.7% |
| Financial income | 75/76B | €6,965 | €8,925 | +€1,960 | +28.1% |
| Recurring financial income | 75 | €6,965 | €8,925 | +€1,960 | +28.1% |
| Financial charges | 65/66B | €11,806 | €30,048 | +€18,242 | +154.5% |
| Recurring financial charges | 65 | €11,806 | €30,048 | +€18,242 | +154.5% |
| Profit (loss) for the period before taxes | 9903 | €236,376 | €194,323 | -€42,053 | -17.8% |
| Income taxes | 67/77 | €75,734 | €61,933 | -€13,801 | -18.2% |
| Profit (loss) for the period | 9904 | €160,642 | €132,390 | -€28,252 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €160,642 | €132,390 | -€28,252 | -17.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.