TESORO: 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.
TESORO
Largest movements
- Cash +€29,953
up €29,953 (+109.3%), from €27,395 to €57,348
mainly Net result for the year (+€26,867) and Other debts (+€8,931)
- Tangible fixed assets +€6,374
up €6,374 (+108.0%), from €5,900 to €12,274
of which Plant, machinery and equipment: +€6,996
- Receivables within one year -€804
down €804 (-18.7%), from €4,312 to €3,507
of which Trade receivables: -€1,542
- Reserves +€26,867
up €26,867 (+173.5%), from €15,488 to €42,356
- Other debts +€8,931
up €8,931 (+745.8%), from €1,198 to €10,129
- Trade debts -€2,006
down €2,006 (-83.2%), from €2,412 to €406
- Tax, wage and social debts +€1,639
up €1,639, from €0 to €1,639
- Turnover -€68,821
no longer reported in 2025 (was €68,821)
- Purchases and services -€48,279
no longer reported in 2025 (was €48,279)
- Gross operating margin +€15,542
up €15,542 (+72.2%), from €21,529 to €37,071
- Taxes +€5,601
new in 2025: €5,601
- Depreciation +€2,231
up €2,231 (+133.0%), from €1,677 to €3,908
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 | €37,697 | €73,129 | +€35,432 | +94.0% |
| Fixed assets | 21/28 | €5,900 | €12,274 | +€6,374 | +108.0% |
| Tangible fixed assets | 22/27 | €5,900 | €12,274 | +€6,374 | +108.0% |
| Plant, machinery and equipment | 23 | €5,278 | €12,274 | +€6,996 | +132.6% |
| Furniture and vehicles | 24 | €622 | €0 | -€622 | -100.0% |
| Current assets | 29/58 | €31,797 | €60,855 | +€29,058 | +91.4% |
| Amounts receivable within one year | 40/41 | €4,312 | €3,507 | -€804 | -18.7% |
| Trade receivables | 40 | €2,725 | €1,182 | -€1,542 | -56.6% |
| Other amounts receivable | 41 | €1,587 | €2,325 | +€738 | +46.5% |
| Cash at bank and in hand | 54/58 | €27,395 | €57,348 | +€29,953 | +109.3% |
| Deferred charges and accrued income | 490/1 | €91 | €0 | -€91 | -100.0% |
| Total equity and liabilities | 10/49 | €37,697 | €73,129 | +€35,432 | +94.0% |
| Equity | 10/15 | €34,088 | €60,956 | +€26,867 | +78.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,488 | €42,356 | +€26,867 | +173.5% |
| Distributable reserves | 133 | €15,488 | €42,356 | +€26,867 | +173.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,609 | €12,173 | +€8,564 | +237.3% |
| Amounts payable within one year | 42/48 | €3,609 | €12,173 | +€8,564 | +237.3% |
| Trade debts | 44 | €2,412 | €406 | -€2,006 | -83.2% |
| Suppliers | 440/4 | €2,412 | €406 | -€2,006 | -83.2% |
| Taxes, remuneration and social security | 45 | €0 | €1,639 | +€1,639 | |
| Taxes | 450/3 | €0 | €1,639 | +€1,639 | |
| Other amounts payable | 47/48 | €1,198 | €10,129 | +€8,931 | +745.8% |
| Turnover | 70 | €68,821 | - | -€68,821 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €48,279 | - | -€48,279 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,677 | €3,908 | +€2,231 | +133.0% |
| Other operating charges | 640/8 | €118 | €520 | +€402 | +340.4% |
| Gross operating margin | 9900 | €21,529 | €37,071 | +€15,542 | +72.2% |
| Operating profit (loss) | 9901 | €19,734 | €32,644 | +€12,910 | +65.4% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €164 | €175 | +€11 | +6.7% |
| Recurring financial charges | 65 | €164 | €175 | +€11 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €19,570 | €32,469 | +€12,899 | +65.9% |
| Income taxes | 67/77 | - | €5,601 | +€5,601 | |
| Profit (loss) for the period | 9904 | €19,570 | €26,867 | +€7,297 | +37.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,570 | €26,867 | +€7,297 | +37.3% |
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 3 October 2026 via checked.be.