TESPA: 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.
TESPA
Largest movements
- Cash +€36,867
up €36,867 (+781.6%), from €4,717 to €41,584
mainly Short-term financial debts (+€43,000) and Accrued charges and deferred income (+€2,620)
- Short-term financial debts +€43,000
up €43,000 (+17.5%), from €246,000 to €289,000
- Profit (loss) carried forward -€8,936
down €8,936 (-36.7%), from -€24,350 to -€33,286
- Gross operating margin -€3,474
down €3,474 (-223.3%), from -€1,556 to -€5,030
- Other operating charges +€551
up €551 (+79.4%), from €693 to €1,244
- Financial charges +€448
up €448 (+20.2%), from €2,215 to €2,662
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 | €240,061 | €276,883 | +€36,822 | +15.3% |
| Current assets | 29/58 | €240,061 | €276,883 | +€36,822 | +15.3% |
| Stocks and contracts in progress | 3 | €235,299 | €235,299 | = | 0.0% |
| Stocks | 30/36 | €235,299 | €235,299 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,717 | €41,584 | +€36,867 | +781.6% |
| Deferred charges and accrued income | 490/1 | €45 | €0 | -€45 | -100.0% |
| Total equity and liabilities | 10/49 | €240,061 | €276,883 | +€36,822 | +15.3% |
| Equity | 10/15 | -€14,350 | -€23,286 | -€8,936 | -62.3% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,350 | -€33,286 | -€8,936 | -36.7% |
| Amounts payable | 17/49 | €254,411 | €300,169 | +€45,758 | +18.0% |
| Amounts payable within one year | 42/48 | €246,000 | €289,138 | +€43,138 | +17.5% |
| Financial debts | 43 | €246,000 | €289,000 | +€43,000 | +17.5% |
| Credit institutions | 430/8 | €246,000 | €289,000 | +€43,000 | +17.5% |
| Trade debts | 44 | €0 | €138 | +€138 | |
| Suppliers | 440/4 | €0 | €138 | +€138 | |
| Accrued charges and deferred income | 492/3 | €8,411 | €11,031 | +€2,620 | +31.2% |
| Other operating charges | 640/8 | €693 | €1,244 | +€551 | +79.4% |
| Gross operating margin | 9900 | -€1,556 | -€5,030 | -€3,474 | -223.3% |
| Operating profit (loss) | 9901 | -€2,249 | -€6,274 | -€4,024 | -178.9% |
| Financial charges | 65/66B | €2,215 | €2,662 | +€448 | +20.2% |
| Recurring financial charges | 65 | €2,215 | €2,662 | +€448 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | -€4,464 | -€8,936 | -€4,472 | -100.2% |
| Profit (loss) for the period | 9904 | -€4,464 | -€8,936 | -€4,472 | -100.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,464 | -€8,936 | -€4,472 | -100.2% |
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 28 September 2026 via checked.be.