TENZO WAY: 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.
TENZO WAY
Largest movements
- Tangible fixed assets +€9,156
new in 2025: €9,156
- Cash +€4,547
up €4,547 (+80.8%), from €5,629 to €10,176
mainly Other debts (+€35,000) and Net result for the year (+€15,220)
- Deferred charges and accrued income +€1,659
new in 2025: €1,659
- Receivables within one year +€1,559
up €1,559 (+4.8%), from €32,548 to €34,107
of which Trade receivables: +€7,221
- Other debts +€35,000
new in 2025: €35,000
- Profit (loss) carried forward -€19,780
down €19,780 (-74.8%), from €26,462 to €6,681
- Tax, wage and social debts +€6,566
up €6,566 (+585.3%), from €1,122 to €7,688
- Trade debts -€4,866
down €4,866 (-87.0%), from €5,593 to €728
- Write-downs -€44,100
no longer reported in 2025 (was €44,100)
- Gross operating margin -€12,637
down €12,637 (-41.3%), from €30,595 to €17,958
- Depreciation +€1,510
new in 2025: €1,510
- Taxes +€1,082
up €1,082 (+680.6%), from €159 to €1,241
- Other operating charges -€857
down €857 (-54.0%), from €1,589 to €731
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 | €38,177 | €55,097 | +€16,920 | +44.3% |
| Fixed assets | 21/28 | - | €9,156 | +€9,156 | |
| Tangible fixed assets | 22/27 | - | €9,156 | +€9,156 | |
| Furniture and vehicles | 24 | - | €9,156 | +€9,156 | |
| Current assets | 29/58 | €38,177 | €45,941 | +€7,764 | +20.3% |
| Amounts receivable within one year | 40/41 | €32,548 | €34,107 | +€1,559 | +4.8% |
| Trade receivables | 40 | €826 | €8,047 | +€7,221 | +874.3% |
| Other amounts receivable | 41 | €31,722 | €26,060 | -€5,662 | -17.8% |
| Cash at bank and in hand | 54/58 | €5,629 | €10,176 | +€4,547 | +80.8% |
| Deferred charges and accrued income | 490/1 | - | €1,659 | +€1,659 | |
| Total equity and liabilities | 10/49 | €38,177 | €55,097 | +€16,920 | +44.3% |
| Equity | 10/15 | €31,462 | €11,681 | -€19,780 | -62.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,462 | €6,681 | -€19,780 | -74.8% |
| Amounts payable | 17/49 | €6,715 | €43,416 | +€36,701 | +546.5% |
| Amounts payable within one year | 42/48 | €6,715 | €43,416 | +€36,701 | +546.5% |
| Trade debts | 44 | €5,593 | €728 | -€4,866 | -87.0% |
| Suppliers | 440/4 | €5,593 | €728 | -€4,866 | -87.0% |
| Taxes, remuneration and social security | 45 | €1,122 | €7,688 | +€6,566 | +585.3% |
| Taxes | 450/3 | €1,122 | €7,688 | +€6,566 | +585.3% |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,510 | +€1,510 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €44,100 | - | -€44,100 | |
| Other operating charges | 640/8 | €1,589 | €731 | -€857 | -54.0% |
| Gross operating margin | 9900 | €30,595 | €17,958 | -€12,637 | -41.3% |
| Operating profit (loss) | 9901 | -€15,094 | €15,717 | +€30,811 | |
| Financial income | 75/76B | €1,245 | €885 | -€360 | -28.9% |
| Recurring financial income | 75 | €1,245 | €885 | -€360 | -28.9% |
| Financial charges | 65/66B | €345 | €142 | -€203 | -58.9% |
| Recurring financial charges | 65 | €345 | €142 | -€203 | -58.9% |
| Profit (loss) for the period before taxes | 9903 | -€14,194 | €16,460 | +€30,654 | |
| Income taxes | 67/77 | €159 | €1,241 | +€1,082 | +680.6% |
| Profit (loss) for the period | 9904 | -€14,353 | €15,220 | +€29,573 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,353 | €15,220 | +€29,573 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.