TES & LUX: 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 & LUX
Largest movements
- Receivables within one year -€26,604
down €26,604 (-77.6%), from €34,296 to €7,692
of which Trade receivables: -€27,555
- Tangible fixed assets +€17,447
up €17,447 (+349%), from €4,997 to €22,444
of which Plant, machinery and equipment: +€16,573
- Cash -€16,422
down €16,422 (-68.9%), from €23,844 to €7,422
mainly Investment in fixed assets (net) (-€21,813) and Net result for the year (-€9,763)
- Profit (loss) carried forward -€9,763
new in 2025: -€9,763
- Accrued charges and deferred income -€9,242
down €9,242 (-100%), from €9,242 to €0
- Trade debts -€6,839
down €6,839 (-84.8%), from €8,061 to €1,222
- Current portion of long-term debt +€6,567
new in 2025: €6,567
- Other debts -€6,149
down €6,149 (-100%), from €6,149 to €0
- Gross operating margin -€41,551
down €41,551, from €37,885 to -€3,666
- Taxes -€12,603
down €12,603 (-99.0%), from €12,735 to €132
- Depreciation +€2,590
up €2,590 (+145%), from €1,786 to €4,376
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 | €63,147 | €37,558 | -€25,589 | -40.5% |
| Formation expenses | 20 | €10 | €0 | -€10 | -100% |
| Fixed assets | 21/28 | €4,997 | €22,444 | +€17,447 | +349% |
| Tangible fixed assets | 22/27 | €4,997 | €22,444 | +€17,447 | +349% |
| Plant, machinery and equipment | 23 | €1,419 | €17,992 | +€16,573 | +1,168% |
| Furniture and vehicles | 24 | - | €1,272 | +€1,272 | |
| Other tangible fixed assets | 26 | €3,578 | €3,180 | -€398 | -11.1% |
| Current assets | 29/58 | €58,140 | €15,114 | -€43,026 | -74.0% |
| Amounts receivable within one year | 40/41 | €34,296 | €7,692 | -€26,604 | -77.6% |
| Trade receivables | 40 | €34,296 | €6,741 | -€27,555 | -80.3% |
| Other amounts receivable | 41 | - | €951 | +€951 | |
| Cash at bank and in hand | 54/58 | €23,844 | €7,422 | -€16,422 | -68.9% |
| Total equity and liabilities | 10/49 | €63,147 | €37,558 | -€25,589 | -40.5% |
| Equity | 10/15 | €24,896 | €15,133 | -€9,763 | -39.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €21,896 | €21,896 | = | 0.0% |
| Distributable reserves | 133 | €21,896 | €21,896 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€9,763 | -€9,763 | |
| Amounts payable | 17/49 | €38,251 | €22,425 | -€15,826 | -41.4% |
| Amounts payable after more than one year | 17 | - | €1,685 | +€1,685 | |
| Financial debts | 170/4 | - | €1,685 | +€1,685 | |
| Amounts payable within one year | 42/48 | €29,009 | €20,740 | -€8,269 | -28.5% |
| Current portion of amounts payable after more than one year | 42 | - | €6,567 | +€6,567 | |
| Financial debts | 43 | - | €83 | +€83 | |
| Credit institutions | 430/8 | - | €83 | +€83 | |
| Trade debts | 44 | €8,061 | €1,222 | -€6,839 | -84.8% |
| Suppliers | 440/4 | €8,061 | €1,222 | -€6,839 | -84.8% |
| Taxes, remuneration and social security | 45 | €14,799 | €12,867 | -€1,932 | -13.1% |
| Taxes | 450/3 | €14,799 | €12,867 | -€1,932 | -13.1% |
| Other amounts payable | 47/48 | €6,149 | €0 | -€6,149 | -100% |
| Accrued charges and deferred income | 492/3 | €9,242 | €0 | -€9,242 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,786 | €4,376 | +€2,590 | +145% |
| Other operating charges | 640/8 | €806 | €1,177 | +€371 | +46.0% |
| Non-recurring operating charges | 66A | €366 | €0 | -€366 | -100% |
| Gross operating margin | 9900 | €37,885 | -€3,666 | -€41,551 | |
| Operating profit (loss) | 9901 | €34,927 | -€9,219 | -€44,146 | |
| Financial income | 75/76B | €0 | €220 | +€220 | +2,195,600% |
| Recurring financial income | 75 | €0 | €220 | +€220 | +2,195,600% |
| Financial charges | 65/66B | €296 | €632 | +€335 | +113% |
| Recurring financial charges | 65 | €296 | €632 | +€335 | +113% |
| Profit (loss) for the period before taxes | 9903 | €34,631 | -€9,631 | -€44,262 | |
| Income taxes | 67/77 | €12,735 | €132 | -€12,603 | -99.0% |
| Profit (loss) for the period | 9904 | €21,896 | -€9,763 | -€31,659 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,896 | -€9,763 | -€31,659 |
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 21 October 2026 via checked.be.