TES 77: 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.
TES 77
Largest movements
- Tangible fixed assets -€80,210
down €80,210 (-5.0%), from €1.6m to €1.5m
of which Land and buildings: -€40,888
- Debts after one year -€49,859
down €49,859 (-7.6%), from €656,488 to €606,629
- Profit (loss) carried forward -€39,659
down €39,659 (-35.6%), from -€111,322 to -€150,981
- Gross operating margin +€12,879
up €12,879 (+19.6%), from €65,695 to €78,574
- Other operating charges +€3,725
up €3,725 (+49.6%), from €7,502 to €11,227
- Depreciation +€2,760
up €2,760 (+3.4%), from €81,911 to €84,671
- Financial charges -€937
down €937 (-4.0%), from €23,272 to €22,335
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 | €1,658,205 | €1,570,917 | -€87,288 | -5.3% |
| Fixed assets | 21/28 | €1,590,977 | €1,510,767 | -€80,210 | -5.0% |
| Tangible fixed assets | 22/27 | €1,590,977 | €1,510,767 | -€80,210 | -5.0% |
| Land and buildings | 22 | €1,143,392 | €1,102,504 | -€40,888 | -3.6% |
| Plant, machinery and equipment | 23 | €433,501 | €397,543 | -€35,957 | -8.3% |
| Furniture and vehicles | 24 | €14,084 | €10,720 | -€3,364 | -23.9% |
| Current assets | 29/58 | €67,228 | €60,149 | -€7,078 | -10.5% |
| Amounts receivable within one year | 40/41 | €14,823 | - | -€14,823 | |
| Trade receivables | 40 | €14,823 | - | -€14,823 | |
| Cash at bank and in hand | 54/58 | €52,405 | €60,149 | +€7,744 | +14.8% |
| Total equity and liabilities | 10/49 | €1,658,205 | €1,570,917 | -€87,288 | -5.3% |
| Equity | 10/15 | €57,278 | €17,619 | -€39,659 | -69.2% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€111,322 | -€150,981 | -€39,659 | -35.6% |
| Amounts payable | 17/49 | €1,600,927 | €1,553,298 | -€47,629 | -3.0% |
| Amounts payable after more than one year | 17 | €656,488 | €606,629 | -€49,859 | -7.6% |
| Financial debts | 170/4 | €656,488 | €606,629 | -€49,859 | -7.6% |
| Amounts payable within one year | 42/48 | €944,439 | €946,669 | +€2,230 | +0.2% |
| Current portion of amounts payable after more than one year | 42 | €48,486 | €49,859 | +€1,373 | +2.8% |
| Taxes, remuneration and social security | 45 | €3,955 | €4,058 | +€102 | +2.6% |
| Taxes | 450/3 | €3,955 | €4,058 | +€102 | +2.6% |
| Other amounts payable | 47/48 | €891,999 | €892,752 | +€754 | +0.1% |
| Non-recurring operating income | 76A | €13,008 | - | -€13,008 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,911 | €84,671 | +€2,760 | +3.4% |
| Other operating charges | 640/8 | €7,502 | €11,227 | +€3,725 | +49.6% |
| Gross operating margin | 9900 | €65,695 | €78,574 | +€12,879 | +19.6% |
| Operating profit (loss) | 9901 | -€23,717 | -€17,324 | +€6,394 | +27.0% |
| Financial charges | 65/66B | €23,272 | €22,335 | -€937 | -4.0% |
| Recurring financial charges | 65 | €23,272 | €22,335 | -€937 | -4.0% |
| Profit (loss) for the period before taxes | 9903 | -€46,989 | -€39,659 | +€7,330 | +15.6% |
| Profit (loss) for the period | 9904 | -€46,989 | -€39,659 | +€7,330 | +15.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,989 | -€39,659 | +€7,330 | +15.6% |
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 12 October 2026 via checked.be.