TEQTO: 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.
TEQTO
Largest movements
- Receivables within one year -€102,364
down €102,364 (-51.7%), from €198,032 to €95,668
of which Trade receivables: -€102,632
- Cash -€87,265
down €87,265 (-53.2%), from €163,990 to €76,724
mainly Trade debts (-€103,316) and Debts after one year (-€91,040)
- Intangible fixed assets -€40,596
down €40,596 (-47.1%), from €86,169 to €45,573
- Tangible fixed assets -€8,649
down €8,649 (-32.9%), from €26,270 to €17,621
of which Leasing and similar rights: -€6,932
- Trade debts -€103,316
down €103,316 (-64.7%), from €159,595 to €56,278
- Debts after one year -€91,040
down €91,040 (-71.1%), from €127,969 to €36,929
of which Financial debts: -€61,040
- Tax, wage and social debts -€28,616
down €28,616 (-75.5%), from €37,891 to €9,275
of which Taxes: -€19,135
- Current portion of long-term debt -€11,457
down €11,457 (-15.8%), from €72,497 to €61,040
- Other debts +€7,364
new in 2025: €7,364
- Write-downs +€39,146
new in 2025: €39,146
- Staff costs +€20,636
up €20,636 (+38.0%), from €54,248 to €74,884
- Gross operating margin +€5,967
up €5,967 (+3.6%), from €165,766 to €171,732
- Depreciation +€3,328
up €3,328 (+7.2%), from €45,917 to €49,245
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 | €476,182 | €241,273 | -€234,909 | -49.3% |
| Fixed assets | 21/28 | €114,160 | €64,915 | -€49,245 | -43.1% |
| Intangible fixed assets | 21 | €86,169 | €45,573 | -€40,596 | -47.1% |
| Tangible fixed assets | 22/27 | €26,270 | €17,621 | -€8,649 | -32.9% |
| Plant, machinery and equipment | 23 | €4,525 | €2,808 | -€1,718 | -38.0% |
| Leasing and similar rights | 25 | €21,745 | €14,813 | -€6,932 | -31.9% |
| Financial fixed assets | 28 | €1,721 | €1,721 | = | 0.0% |
| Current assets | 29/58 | €362,022 | €176,358 | -€185,664 | -51.3% |
| Amounts receivable within one year | 40/41 | €198,032 | €95,668 | -€102,364 | -51.7% |
| Trade receivables | 40 | €197,827 | €95,196 | -€102,632 | -51.9% |
| Other amounts receivable | 41 | €205 | €473 | +€268 | +131% |
| Cash at bank and in hand | 54/58 | €163,990 | €76,724 | -€87,265 | -53.2% |
| Deferred charges and accrued income | 490/1 | - | €3,965 | +€3,965 | |
| Total equity and liabilities | 10/49 | €476,182 | €241,273 | -€234,909 | -49.3% |
| Equity | 10/15 | €53,985 | €52,989 | -€996 | -1.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €47,785 | €46,789 | -€996 | -2.1% |
| Distributable reserves | 133 | €47,785 | €46,789 | -€996 | -2.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €422,197 | €188,283 | -€233,914 | -55.4% |
| Amounts payable after more than one year | 17 | €127,969 | €36,929 | -€91,040 | -71.1% |
| Financial debts | 170/4 | €97,969 | €36,929 | -€61,040 | -62.3% |
| Other amounts payable | 178/9 | €30,000 | €0 | -€30,000 | -100% |
| Amounts payable within one year | 42/48 | €269,983 | €133,957 | -€136,025 | -50.4% |
| Current portion of amounts payable after more than one year | 42 | €72,497 | €61,040 | -€11,457 | -15.8% |
| Financial debts | 43 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €159,595 | €56,278 | -€103,316 | -64.7% |
| Suppliers | 440/4 | €159,595 | €56,278 | -€103,316 | -64.7% |
| Taxes, remuneration and social security | 45 | €37,891 | €9,275 | -€28,616 | -75.5% |
| Taxes | 450/3 | €28,410 | €9,275 | -€19,135 | -67.4% |
| Remuneration and social security | 454/9 | €9,481 | €0 | -€9,481 | -100% |
| Other amounts payable | 47/48 | - | €7,364 | +€7,364 | |
| Accrued charges and deferred income | 492/3 | €24,245 | €17,397 | -€6,848 | -28.2% |
| Non-recurring operating income | 76A | €0 | €152,668 | +€152,668 | |
| Remuneration, social security and pensions | 62 | €54,248 | €74,884 | +€20,636 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,917 | €49,245 | +€3,328 | +7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €39,146 | +€39,146 | |
| Other operating charges | 640/8 | €1,044 | €640 | -€404 | -38.7% |
| Gross operating margin | 9900 | €165,766 | €171,732 | +€5,967 | +3.6% |
| Operating profit (loss) | 9901 | €64,556 | €7,817 | -€56,739 | -87.9% |
| Financial income | 75/76B | €829 | €1,472 | +€642 | +77.4% |
| Recurring financial income | 75 | €829 | €1,472 | +€642 | +77.4% |
| Financial charges | 65/66B | €10,610 | €10,099 | -€511 | -4.8% |
| Recurring financial charges | 65 | €10,610 | €10,099 | -€511 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €54,776 | -€810 | -€55,586 | |
| Income taxes | 67/77 | €168 | €185 | +€17 | +10.2% |
| Profit (loss) for the period | 9904 | €54,607 | -€996 | -€55,603 | |
| Profit (loss) for the period to be appropriated | 9905 | €54,607 | -€996 | -€55,603 |
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 15 October 2026 via checked.be.