TESH: 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.
TESH
Largest movements
- Cash +€27,580
up €27,580 (+194%), from €14,204 to €41,784
mainly Depreciation (+€17,844) and Receivables within one year (+€13,572)
- Tangible fixed assets -€16,428
down €16,428 (-21.5%), from €76,328 to €59,900
- Receivables within one year -€13,572
down €13,572 (-57.6%), from €23,555 to €9,983
of which Trade receivables: -€8,730
- Deferred charges and accrued income +€3,332
up €3,332 (+196%), from €1,699 to €5,031
- Debts after one year -€15,143
down €15,143 (-28.3%), from €53,459 to €38,316
- Reserves +€7,757
up €7,757 (+418%), from €1,855 to €9,612
of which Distributable reserves: +€7,757
- Tax, wage and social debts +€4,056
up €4,056 (+3,223%), from €126 to €4,182
of which Remuneration and social security: +€2,666
- Trade debts +€2,567
up €2,567 (+61.7%), from €4,158 to €6,725
- Profit (loss) carried forward +€1,170
up €1,170, from -€1,170 to €0
- Depreciation +€5,427
up €5,427 (+43.7%), from €12,417 to €17,844
- Gross operating margin -€3,029
down €3,029 (-7.6%), from €39,901 to €36,872
- Taxes -€956
down €956 (-15.1%), from €6,340 to €5,384
- Financial charges +€785
up €785 (+29.9%), from €2,624 to €3,409
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 | €115,786 | €116,698 | +€912 | +0.8% |
| Fixed assets | 21/28 | €76,328 | €59,900 | -€16,428 | -21.5% |
| Tangible fixed assets | 22/27 | €76,328 | €59,900 | -€16,428 | -21.5% |
| Furniture and vehicles | 24 | €76,328 | €59,900 | -€16,428 | -21.5% |
| Current assets | 29/58 | €39,458 | €56,798 | +€17,340 | +43.9% |
| Amounts receivable within one year | 40/41 | €23,555 | €9,983 | -€13,572 | -57.6% |
| Trade receivables | 40 | €13,700 | €4,970 | -€8,730 | -63.7% |
| Other amounts receivable | 41 | €9,855 | €5,013 | -€4,842 | -49.1% |
| Cash at bank and in hand | 54/58 | €14,204 | €41,784 | +€27,580 | +194% |
| Deferred charges and accrued income | 490/1 | €1,699 | €5,031 | +€3,332 | +196% |
| Total equity and liabilities | 10/49 | €115,786 | €116,698 | +€912 | +0.8% |
| Equity | 10/15 | €12,385 | €21,312 | +€8,927 | +72.1% |
| Contributions | 10/11 | €11,700 | €11,700 | = | 0.0% |
| Reserves | 13 | €1,855 | €9,612 | +€7,757 | +418% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,855 | €9,612 | +€7,757 | +418% |
| Profit (loss) carried forward | 14 | -€1,170 | €0 | +€1,170 | |
| Amounts payable | 17/49 | €103,401 | €95,386 | -€8,015 | -7.8% |
| Amounts payable after more than one year | 17 | €53,459 | €38,316 | -€15,143 | -28.3% |
| Financial debts | 170/4 | €53,459 | €38,316 | -€15,143 | -28.3% |
| Amounts payable within one year | 42/48 | €48,644 | €55,772 | +€7,128 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €14,428 | €15,143 | +€715 | +5.0% |
| Financial debts | 43 | - | €135 | +€135 | |
| Credit institutions | 430/8 | - | €135 | +€135 | |
| Trade debts | 44 | €4,158 | €6,725 | +€2,567 | +61.7% |
| Suppliers | 440/4 | €4,158 | €6,725 | +€2,567 | +61.7% |
| Taxes, remuneration and social security | 45 | €126 | €4,182 | +€4,056 | +3,223% |
| Taxes | 450/3 | €126 | €1,515 | +€1,389 | +1,104% |
| Remuneration and social security | 454/9 | - | €2,666 | +€2,666 | |
| Other amounts payable | 47/48 | €29,932 | €29,587 | -€345 | -1.2% |
| Accrued charges and deferred income | 492/3 | €1,297 | €1,297 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,417 | €17,844 | +€5,427 | +43.7% |
| Other operating charges | 640/8 | €1,209 | €1,339 | +€130 | +10.7% |
| Gross operating margin | 9900 | €39,901 | €36,872 | -€3,029 | -7.6% |
| Operating profit (loss) | 9901 | €26,275 | €17,689 | -€8,586 | -32.7% |
| Financial income | 75/76B | €0 | €31 | +€30 | +7,060% |
| Recurring financial income | 75 | €0 | €31 | +€30 | +7,060% |
| Financial charges | 65/66B | €2,624 | €3,409 | +€785 | +29.9% |
| Recurring financial charges | 65 | €2,624 | €3,409 | +€785 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €23,652 | €14,311 | -€9,341 | -39.5% |
| Income taxes | 67/77 | €6,340 | €5,384 | -€956 | -15.1% |
| Profit (loss) for the period | 9904 | €17,312 | €8,927 | -€8,385 | -48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €17,312 | €8,927 | -€8,385 | -48.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.