TEPO: 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.
TEPO
Largest movements
- Tangible fixed assets -€11,865
down €11,865 (-14.1%), from €84,310 to €72,445
of which Land and buildings: -€8,865
- Cash -€11,078
down €11,078 (-15.4%), from €71,780 to €60,702
mainly Other debts (-€15,362) and Current investments (-€7,871)
- Current investments +€7,871
up €7,871 (+1.9%), from €415,145 to €423,015
- Other debts -€15,362
down €15,362 (-38.2%), from €40,182 to €24,821
- Financial income +€3,746
up €3,746 (+49.2%), from €7,615 to €11,361
- Gross operating margin +€2,768
up €2,768 (+24.1%), from €11,481 to €14,249
- Other operating charges +€2,100
up €2,100 (+87.7%), from €2,395 to €4,494
- Financial charges +€1,591
up €1,591 (+49.8%), from €3,196 to €4,788
- Taxes +€1,506
up €1,506 (+259.8%), from €580 to €2,086
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €574,387 | €559,633 | -€14,753 | -2.6% |
| Fixed assets | 21/28 | €84,310 | €72,445 | -€11,865 | -14.1% |
| Tangible fixed assets | 22/27 | €84,310 | €72,445 | -€11,865 | -14.1% |
| Land and buildings | 22 | €74,850 | €65,986 | -€8,865 | -11.8% |
| Furniture and vehicles | 24 | €9,460 | €6,460 | -€3,000 | -31.7% |
| Current assets | 29/58 | €490,076 | €487,188 | -€2,888 | -0.6% |
| Amounts receivable within one year | 40/41 | €2,709 | €3,002 | +€294 | +10.8% |
| Trade receivables | 40 | €1,029 | €0 | -€1,029 | -100.0% |
| Other amounts receivable | 41 | €1,680 | €3,002 | +€1,322 | +78.7% |
| Current investments | 50/53 | €415,145 | €423,015 | +€7,871 | +1.9% |
| Cash at bank and in hand | 54/58 | €71,780 | €60,702 | -€11,078 | -15.4% |
| Deferred charges and accrued income | 490/1 | €443 | €469 | +€26 | +5.8% |
| Total equity and liabilities | 10/49 | €574,387 | €559,633 | -€14,753 | -2.6% |
| Equity | 10/15 | €528,223 | €530,600 | +€2,377 | +0.4% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €458,223 | €460,600 | +€2,377 | +0.5% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €451,223 | €453,600 | +€2,377 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,163 | €29,033 | -€17,130 | -37.1% |
| Amounts payable within one year | 42/48 | €42,677 | €25,726 | -€16,951 | -39.7% |
| Financial debts | 43 | - | €17 | +€17 | |
| Credit institutions | 430/8 | - | €17 | +€17 | |
| Trade debts | 44 | €2,495 | €888 | -€1,606 | -64.4% |
| Suppliers | 440/4 | €2,495 | €888 | -€1,606 | -64.4% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €40,182 | €24,821 | -€15,362 | -38.2% |
| Accrued charges and deferred income | 492/3 | €3,486 | €3,307 | -€180 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,379 | €11,865 | -€514 | -4.2% |
| Other operating charges | 640/8 | €2,395 | €4,494 | +€2,100 | +87.7% |
| Gross operating margin | 9900 | €11,481 | €14,249 | +€2,768 | +24.1% |
| Operating profit (loss) | 9901 | -€3,292 | -€2,110 | +€1,182 | +35.9% |
| Financial income | 75/76B | €7,615 | €11,361 | +€3,746 | +49.2% |
| Recurring financial income | 75 | €7,615 | €11,361 | +€3,746 | +49.2% |
| Financial charges | 65/66B | €3,196 | €4,788 | +€1,591 | +49.8% |
| Recurring financial charges | 65 | €3,196 | €4,788 | +€1,591 | +49.8% |
| Profit (loss) for the period before taxes | 9903 | €1,126 | €4,463 | +€3,337 | +296.3% |
| Income taxes | 67/77 | €580 | €2,086 | +€1,506 | +259.8% |
| Profit (loss) for the period | 9904 | €546 | €2,377 | +€1,831 | +335.0% |
| Profit (loss) for the period to be appropriated | 9905 | €546 | €2,377 | +€1,831 | +335.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.