Teso: what changed
Two fiscal 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.
Teso
Largest movements
- Receivables within one year -€22,293
down €22,293 (-31.6%), from €70,486 to €48,193
of which Trade receivables: -€13,314
- Tangible fixed assets -€13,629
down €13,629 (-2.2%), from €607,864 to €594,236
of which Land and buildings: -€13,629
- Debts after one year -€43,072
down €43,072 (-10.8%), from €398,137 to €355,065
- Other debts -€29,699
down €29,699 (-98.6%), from €30,133 to €434
- Reserves +€26,254
up €26,254 (+15.1%), from €174,253 to €200,508
- Other operating charges +€3,970
up €3,970 (+96.6%), from €4,108 to €8,078
- Gross operating margin -€2,233
down €2,233 (-2.8%), from €79,337 to €77,105
- Taxes -€1,562
down €1,562 (-13.6%), from €11,499 to €9,938
- Financial charges -€1,303
down €1,303 (-6.4%), from €20,509 to €19,205
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 | €688,985 | €647,495 | -€41,490 | -6.0% |
| Fixed assets | 21/28 | €607,864 | €594,236 | -€13,629 | -2.2% |
| Tangible fixed assets | 22/27 | €607,864 | €594,236 | -€13,629 | -2.2% |
| Land and buildings | 22 | €607,864 | €594,236 | -€13,629 | -2.2% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €81,121 | €53,259 | -€27,862 | -34.3% |
| Amounts receivable within one year | 40/41 | €70,486 | €48,193 | -€22,293 | -31.6% |
| Trade receivables | 40 | €61,507 | €48,193 | -€13,314 | -21.6% |
| Other amounts receivable | 41 | €8,979 | €0 | -€8,979 | -100.0% |
| Cash at bank and in hand | 54/58 | €10,562 | €4,067 | -€6,495 | -61.5% |
| Deferred charges and accrued income | 490/1 | €73 | €1,000 | +€927 | +1270.6% |
| Total equity and liabilities | 10/49 | €688,985 | €647,495 | -€41,490 | -6.0% |
| Equity | 10/15 | €192,853 | €219,108 | +€26,254 | +13.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €174,253 | €200,508 | +€26,254 | +15.1% |
| Distributable reserves | 133 | €174,253 | €200,508 | +€26,254 | +15.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €496,132 | €428,388 | -€67,745 | -13.7% |
| Amounts payable after more than one year | 17 | €398,137 | €355,065 | -€43,072 | -10.8% |
| Financial debts | 170/4 | €398,137 | €355,065 | -€43,072 | -10.8% |
| Amounts payable within one year | 42/48 | €97,995 | €69,322 | -€28,673 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €41,086 | €43,072 | +€1,986 | +4.8% |
| Trade debts | 44 | €21,581 | €21,800 | +€219 | +1.0% |
| Suppliers | 440/4 | €21,581 | €21,800 | +€219 | +1.0% |
| Taxes, remuneration and social security | 45 | €5,195 | €4,016 | -€1,179 | -22.7% |
| Taxes | 450/3 | €4,785 | €4,016 | -€769 | -16.1% |
| Remuneration and social security | 454/9 | €410 | €0 | -€410 | -100.0% |
| Other amounts payable | 47/48 | €30,133 | €434 | -€29,699 | -98.6% |
| Accrued charges and deferred income | 492/3 | - | €4,000 | +€4,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,783 | €13,629 | -€154 | -1.1% |
| Other operating charges | 640/8 | €4,108 | €8,078 | +€3,970 | +96.6% |
| Gross operating margin | 9900 | €79,337 | €77,105 | -€2,233 | -2.8% |
| Operating profit (loss) | 9901 | €61,446 | €55,398 | -€6,048 | -9.8% |
| Financial charges | 65/66B | €20,509 | €19,205 | -€1,303 | -6.4% |
| Recurring financial charges | 65 | €20,509 | €19,205 | -€1,303 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €40,937 | €36,192 | -€4,745 | -11.6% |
| Income taxes | 67/77 | €11,499 | €9,938 | -€1,562 | -13.6% |
| Profit (loss) for the period | 9904 | €29,438 | €26,254 | -€3,183 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,438 | €26,254 | -€3,183 | -10.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.