TESS: 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.
TESS
Largest movements
- Financial fixed assets +€6.5m
up €6.5m (+706.0%), from €921,300 to €7.4m
- Receivables within one year +€1.3m
up €1.3m (+35.0%), from €3.6m to €4.9m
of which Other amounts receivable: +€1.3m
- Other debts +€4.0m
up €4.0m (+225.8%), from €1.8m to €5.7m
- Reserves +€3.8m
up €3.8m (+320.8%), from €1.2m to €4.9m
- Financial income +€3.8m
up €3.8m (+2802.4%), from €133,880 to €3.9m
of which Non-recurring financial income: +€3.8m
- Gross operating margin -€53,110
down €53,110 (-24.1%), from €220,408 to €167,298
- Taxes -€30,438
down €30,438 (-36.4%), from €83,570 to €53,132
- Depreciation +€16,778
up €16,778 (+108.3%), from €15,493 to €32,271
- Financial charges -€13,363
down €13,363 (-16.9%), from €79,150 to €65,787
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 | €4,748,036 | €12,499,351 | +€7.8m | +163.3% |
| Fixed assets | 21/28 | €1,058,436 | €7,547,064 | +€6.5m | +613.0% |
| Tangible fixed assets | 22/27 | €137,136 | €121,764 | -€15,372 | -11.2% |
| Furniture and vehicles | 24 | €137,136 | €121,764 | -€15,372 | -11.2% |
| Financial fixed assets | 28 | €921,300 | €7,425,300 | +€6.5m | +706.0% |
| Current assets | 29/58 | €3,689,600 | €4,952,287 | +€1.3m | +34.2% |
| Amounts receivable within one year | 40/41 | €3,625,189 | €4,892,599 | +€1.3m | +35.0% |
| Trade receivables | 40 | €40,335 | €40,335 | = | 0.0% |
| Other amounts receivable | 41 | €3,584,854 | €4,852,263 | +€1.3m | +35.4% |
| Cash at bank and in hand | 54/58 | €13,818 | €44,113 | +€30,295 | +219.2% |
| Deferred charges and accrued income | 490/1 | €50,593 | €15,575 | -€35,018 | -69.2% |
| Total equity and liabilities | 10/49 | €4,748,036 | €12,499,351 | +€7.8m | +163.3% |
| Equity | 10/15 | €2,693,481 | €6,462,953 | +€3.8m | +139.9% |
| Contributions | 10/11 | €1,518,600 | €1,518,600 | = | 0.0% |
| Reserves | 13 | €1,174,881 | €4,944,353 | +€3.8m | +320.8% |
| Distributable reserves | 133 | €1,174,881 | €4,944,353 | +€3.8m | +320.8% |
| Amounts payable | 17/49 | €2,054,555 | €6,036,398 | +€4.0m | +193.8% |
| Amounts payable after more than one year | 17 | €160,500 | €160,500 | = | 0.0% |
| Other amounts payable | 178/9 | €160,500 | €160,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,872,888 | €5,832,905 | +€4.0m | +211.4% |
| Current portion of amounts payable after more than one year | 42 | €32,100 | €32,100 | = | 0.0% |
| Trade debts | 44 | €5,782 | €16,017 | +€10,235 | +177.0% |
| Suppliers | 440/4 | €5,782 | €16,017 | +€10,235 | +177.0% |
| Taxes, remuneration and social security | 45 | €79,681 | €65,847 | -€13,834 | -17.4% |
| Taxes | 450/3 | €79,681 | €65,847 | -€13,834 | -17.4% |
| Other amounts payable | 47/48 | €1,755,325 | €5,718,942 | +€4.0m | +225.8% |
| Accrued charges and deferred income | 492/3 | €21,167 | €42,993 | +€21,826 | +103.1% |
| Non-recurring operating income | 76A | €5,400 | - | -€5,400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,493 | €32,271 | +€16,778 | +108.3% |
| Other operating charges | 640/8 | €7,983 | €2,390 | -€5,593 | -70.1% |
| Gross operating margin | 9900 | €220,408 | €167,298 | -€53,110 | -24.1% |
| Operating profit (loss) | 9901 | €196,932 | €132,637 | -€64,295 | -32.6% |
| Financial income | 75/76B | €133,880 | €3,885,753 | +€3.8m | +2802.4% |
| Recurring financial income | 75 | €133,880 | €98,157 | -€35,722 | -26.7% |
| Non-recurring financial income | 76B | - | €3,787,596 | +€3.8m | |
| Financial charges | 65/66B | €79,150 | €65,787 | -€13,363 | -16.9% |
| Recurring financial charges | 65 | €79,150 | €65,787 | -€13,363 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €251,661 | €3,952,604 | +€3.7m | +1470.6% |
| Income taxes | 67/77 | €83,570 | €53,132 | -€30,438 | -36.4% |
| Profit (loss) for the period | 9904 | €168,091 | €3,899,472 | +€3.7m | +2219.9% |
| Profit (loss) for the period to be appropriated | 9905 | €168,091 | €3,899,472 | +€3.7m | +2219.9% |
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 12 October 2026 via checked.be.