TEOMAN: 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.
What changed
TEOMAN
NACE 47.770, Retail sale of watches and jewellery
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€290,614
2024 · €223,591+€67,023
Equity
€710,506
2024 · €494,892+€215,614
Cash
€10,206
2024 · €18,402-€8,196
Balance sheet total
€2.6m
2024 · €2.3m+€245,626
Largest movements
Assets
- Stocks and contracts +€352,898
up €352,898 (+18.8%), from €1.9m to €2.2m
- Receivables within one year -€107,206
down €107,206 (-27.9%), from €384,393 to €277,187
of which Trade receivables: -€104,779
Equity and liabilities
- Reserves +€215,614
up €215,614 (+67.1%), from €321,523 to €537,137
of which Distributable reserves: +€215,614
- Trade debts -€123,387
down €123,387 (-35.4%), from €348,979 to €225,592
- Tax, wage and social debts +€105,703
up €105,703 (+41.9%), from €252,569 to €358,272
of which Taxes: +€131,731
Income statement
- Taxes +€127,140
up €127,140 (+208.1%), from €61,107 to €188,247
- Gross operating margin +€126,556
up €126,556 (+24.2%), from €522,064 to €648,620
- Staff costs -€66,835
down €66,835 (-34.3%), from €194,654 to €127,819
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.
Result 2024
€223,591
Gross operating margin
+€126,556
Staff costs
+€66,835
Depreciation
-€5,610
Other operating charges
+€5,393
Other operating items
-€49
Financial income
+€250
Financial charges
+€788
Taxes
-€127,140
Result 2025
€290,614
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.
From operations
+€59,914
Investment
-€27,121
Financing
-€40,988
Cash 2024
€18,402
From operations (derived)
+€59,914
Net result for the year
+€290,614
Depreciation
+€17,273
Stocks and contracts
-€352,898
Receivables within one year
+€107,206
Deferred charges and accrued income
+€1,718
Trade debts
-€123,387
Tax, wage and social debts
+€105,703
Advances received
+€3,000
Other debts
+€10,685
Investment (derived)
-€27,121
Investment in fixed assets (net)
-€27,121
Financing
-€40,988
Debts after one year
+€13,125
Current portion of long-term debt
+€3,812
Short-term financial debts
+€17,074
Contributions, distributions and other
-€75,000
Cash 2025
€10,206
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,328,588 | €2,574,214 | +€245,626 | +10.5% |
| Fixed assets | 21/28 | €46,533 | €56,382 | +€9,849 | +21.2% |
| Tangible fixed assets | 22/27 | €30,331 | €40,179 | +€9,849 | +32.5% |
| Plant, machinery and equipment | 23 | - | €19,467 | +€19,467 | |
| Furniture and vehicles | 24 | €23,008 | €16,045 | -€6,963 | -30.3% |
| Other tangible fixed assets | 26 | €7,323 | €4,668 | -€2,655 | -36.3% |
| Financial fixed assets | 28 | €16,203 | €16,203 | = | 0.0% |
| Current assets | 29/58 | €2,282,054 | €2,517,832 | +€235,778 | +10.3% |
| Stocks and contracts in progress | 3 | €1,875,069 | €2,227,967 | +€352,898 | +18.8% |
| Stocks | 30/36 | €1,875,069 | €2,227,967 | +€352,898 | +18.8% |
| Amounts receivable within one year | 40/41 | €384,393 | €277,187 | -€107,206 | -27.9% |
| Trade receivables | 40 | €351,360 | €246,581 | -€104,779 | -29.8% |
| Other amounts receivable | 41 | €33,033 | €30,606 | -€2,427 | -7.3% |
| Cash at bank and in hand | 54/58 | €18,402 | €10,206 | -€8,196 | -44.5% |
| Deferred charges and accrued income | 490/1 | €4,190 | €2,472 | -€1,718 | -41.0% |
| Total equity and liabilities | 10/49 | €2,328,588 | €2,574,214 | +€245,626 | +10.5% |
| Equity | 10/15 | €494,892 | €710,506 | +€215,614 | +43.6% |
| Contributions | 10/11 | €22,957 | €22,957 | = | 0.0% |
| Outside capital | 11 | €22,957 | €22,957 | = | 0.0% |
| Other | 1109/19 | €22,957 | €22,957 | = | 0.0% |
| Reserves | 13 | €321,523 | €537,137 | +€215,614 | +67.1% |
| Non-distributable reserves | 130/1 | €2,296 | €2,296 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,296 | €2,296 | = | 0.0% |
| Distributable reserves | 133 | €319,227 | €534,841 | +€215,614 | +67.5% |
| Profit (loss) carried forward | 14 | €150,412 | €150,412 | = | 0.0% |
| Amounts payable | 17/49 | €1,833,695 | €1,863,708 | +€30,012 | +1.6% |
| Amounts payable after more than one year | 17 | €203,025 | €216,150 | +€13,125 | +6.5% |
| Financial debts | 170/4 | €203,025 | €216,150 | +€13,125 | +6.5% |
| Amounts payable within one year | 42/48 | €1,630,670 | €1,647,558 | +€16,888 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €43,812 | +€3,812 | +9.5% |
| Financial debts | 43 | - | €17,074 | +€17,074 | |
| Credit institutions | 430/8 | - | €17,074 | +€17,074 | |
| Trade debts | 44 | €348,979 | €225,592 | -€123,387 | -35.4% |
| Suppliers | 440/4 | €348,979 | €225,592 | -€123,387 | -35.4% |
| Advances received on contracts in progress | 46 | €17,315 | €20,315 | +€3,000 | +17.3% |
| Taxes, remuneration and social security | 45 | €252,569 | €358,272 | +€105,703 | +41.9% |
| Taxes | 450/3 | €83,379 | €215,110 | +€131,731 | +158.0% |
| Remuneration and social security | 454/9 | €169,190 | €143,162 | -€26,028 | -15.4% |
| Other amounts payable | 47/48 | €971,807 | €982,492 | +€10,685 | +1.1% |
| Non-recurring operating income | 76A | €6,735 | €12,979 | +€6,245 | +92.7% |
| Remuneration, social security and pensions | 62 | €194,654 | €127,819 | -€66,835 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,663 | €17,273 | +€5,610 | +48.1% |
| Other operating charges | 640/8 | €15,923 | €10,530 | -€5,393 | -33.9% |
| Non-recurring operating charges | 66A | - | €49 | +€49 | |
| Gross operating margin | 9900 | €522,064 | €648,620 | +€126,556 | +24.2% |
| Operating profit (loss) | 9901 | €299,824 | €492,950 | +€193,126 | +64.4% |
| Financial income | 75/76B | €82 | €332 | +€250 | +304.2% |
| Recurring financial income | 75 | €82 | €332 | +€250 | +304.2% |
| Financial charges | 65/66B | €15,209 | €14,421 | -€788 | -5.2% |
| Recurring financial charges | 65 | €15,209 | €14,421 | -€788 | -5.2% |
| Profit (loss) for the period before taxes | 9903 | €284,698 | €478,861 | +€194,163 | +68.2% |
| Income taxes | 67/77 | €61,107 | €188,247 | +€127,140 | +208.1% |
| Profit (loss) for the period | 9904 | €223,591 | €290,614 | +€67,023 | +30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €223,591 | €290,614 | +€67,023 | +30.0% |
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 8 October 2026 via checked.be.