TES INVEST: 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 INVEST
Largest movements
- Cash -€89,642
down €89,642 (-97.5%), from €91,911 to €2,269
mainly Net result for the year (-€105,562) and Other debts (-€36,000)
- Financial fixed assets +€44,000
new in 2025: €44,000
- Receivables within one year +€24,979
up €24,979 (+16.1%), from €154,750 to €179,729
of which Other amounts receivable: +€147,318
- Tangible fixed assets -€20,859
no longer reported in 2025 (was €20,859)
of which Furniture and vehicles: -€20,187
- Profit (loss) carried forward -€105,562
down €105,562 (-52.6%), from €200,866 to €95,304
- Tax, wage and social debts +€57,934
up €57,934 (+590%), from €9,815 to €67,750
of which Taxes: +€67,750
- Trade debts +€42,106
up €42,106 (+10,842%), from €388 to €42,495
- Other debts -€36,000
no longer reported in 2025 (was €36,000)
- Turnover +€496,350
new in 2025: €496,350
- Purchases and services +€320,385
new in 2025: €320,385
- Staff costs +€93,528
up €93,528 (+76.5%), from €122,202 to €215,729
- Gross operating margin -€93,101
down €93,101 (-34.5%), from €270,119 to €177,018
- Taxes +€38,437
new in 2025: €38,437
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 | €267,520 | €225,999 | -€41,521 | -15.5% |
| Fixed assets | 21/28 | €20,859 | €44,000 | +€23,141 | +111% |
| Tangible fixed assets | 22/27 | €20,859 | - | -€20,859 | |
| Plant, machinery and equipment | 23 | €672 | - | -€672 | |
| Furniture and vehicles | 24 | €20,187 | - | -€20,187 | |
| Financial fixed assets | 28 | - | €44,000 | +€44,000 | |
| Current assets | 29/58 | €246,661 | €181,999 | -€64,663 | -26.2% |
| Amounts receivable within one year | 40/41 | €154,750 | €179,729 | +€24,979 | +16.1% |
| Trade receivables | 40 | €154,725 | €32,386 | -€122,339 | -79.1% |
| Other amounts receivable | 41 | €25 | €147,343 | +€147,318 | +589,274% |
| Cash at bank and in hand | 54/58 | €91,911 | €2,269 | -€89,642 | -97.5% |
| Total equity and liabilities | 10/49 | €267,520 | €225,999 | -€41,521 | -15.5% |
| Equity | 10/15 | €221,316 | €115,754 | -€105,562 | -47.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Share premium | 1100/10 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €450 | €450 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €450 | +€450 | |
| Legal reserve | 130 | - | €450 | +€450 | |
| Distributable reserves | 133 | €450 | - | -€450 | |
| Profit (loss) carried forward | 14 | €200,866 | €95,304 | -€105,562 | -52.6% |
| Amounts payable | 17/49 | €46,204 | €110,244 | +€64,041 | +139% |
| Amounts payable within one year | 42/48 | €46,204 | €110,244 | +€64,041 | +139% |
| Trade debts | 44 | €388 | €42,495 | +€42,106 | +10,842% |
| Suppliers | 440/4 | €388 | €42,495 | +€42,106 | +10,842% |
| Taxes, remuneration and social security | 45 | €9,815 | €67,750 | +€57,934 | +590% |
| Taxes | 450/3 | - | €67,750 | +€67,750 | |
| Remuneration and social security | 454/9 | €9,815 | - | -€9,815 | |
| Other amounts payable | 47/48 | €36,000 | - | -€36,000 | |
| Turnover | 70 | - | €496,350 | +€496,350 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €320,385 | +€320,385 | |
| Remuneration, social security and pensions | 62 | €122,202 | €215,729 | +€93,528 | +76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,603 | €5,672 | -€14,930 | -72.5% |
| Other operating charges | 640/8 | €1,605 | €16,999 | +€15,394 | +959% |
| Non-recurring operating charges | 66A | - | €4,614 | +€4,614 | |
| Gross operating margin | 9900 | €270,119 | €177,018 | -€93,101 | -34.5% |
| Operating profit (loss) | 9901 | €125,710 | -€65,996 | -€191,705 | |
| Financial income | 75/76B | - | €28,902 | +€28,902 | |
| Recurring financial income | 75 | - | €28,902 | +€28,902 | |
| Non-recurring financial income | 76B | - | €28,902 | +€28,902 | |
| Financial charges | 65/66B | €3,511 | €30,031 | +€26,520 | +755% |
| Recurring financial charges | 65 | €3,511 | €30,031 | +€26,520 | +755% |
| Profit (loss) for the period before taxes | 9903 | €122,199 | -€67,125 | -€189,324 | |
| Income taxes | 67/77 | - | €38,437 | +€38,437 | |
| Profit (loss) for the period | 9904 | €122,199 | -€105,562 | -€227,761 | |
| Profit (loss) for the period to be appropriated | 9905 | €122,199 | -€105,562 | -€227,761 |
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 31 October 2026 via checked.be.