Têtard: 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.
Têtard
Largest movements
- Tangible fixed assets +€146,718
up €146,718 (+34.7%), from €422,407 to €569,125
of which Land and buildings: +€148,136
- Cash +€6,929
up €6,929 (+37.4%), from €18,534 to €25,463
mainly Other debts (+€115,000) and Current portion of long-term debt (+€69,125)
- Other debts +€115,000
new in 2025: €115,000
- Current portion of long-term debt +€69,125
up €69,125 (+54.8%), from €126,035 to €195,160
- Trade debts -€25,516
down €25,516 (-89.7%), from €28,451 to €2,935
- Debts after one year -€17,632
down €17,632 (-6.5%), from €273,152 to €255,520
- Profit (loss) carried forward +€10,944
up €10,944 (+27.2%), from -€40,266 to -€29,322
- Gross operating margin +€15,586
up €15,586 (+38.8%), from €40,187 to €55,773
- Depreciation +€8,291
up €8,291 (+35.2%), from €23,584 to €31,875
- Taxes +€922
up €922 (+37.0%), from €2,490 to €3,411
- Financial income +€874
new in 2025: €874
- Financial charges +€689
up €689 (+11.0%), from €6,276 to €6,965
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 | €448,756 | €600,970 | +€152,214 | +33.9% |
| Fixed assets | 21/28 | €422,407 | €569,125 | +€146,718 | +34.7% |
| Tangible fixed assets | 22/27 | €422,407 | €569,125 | +€146,718 | +34.7% |
| Land and buildings | 22 | €413,472 | €561,608 | +€148,136 | +35.8% |
| Plant, machinery and equipment | 23 | €8,935 | €7,517 | -€1,418 | -15.9% |
| Current assets | 29/58 | €26,349 | €31,845 | +€5,495 | +20.9% |
| Amounts receivable within one year | 40/41 | €6,663 | €4,941 | -€1,723 | -25.9% |
| Trade receivables | 40 | €6,663 | €3,458 | -€3,205 | -48.1% |
| Other amounts receivable | 41 | - | €1,483 | +€1,483 | |
| Cash at bank and in hand | 54/58 | €18,534 | €25,463 | +€6,929 | +37.4% |
| Deferred charges and accrued income | 490/1 | €1,153 | €1,441 | +€289 | +25.1% |
| Total equity and liabilities | 10/49 | €448,756 | €600,970 | +€152,214 | +33.9% |
| Equity | 10/15 | €17,005 | €27,949 | +€10,944 | +64.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €37,271 | €37,271 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,190 | €16,190 | = | 0.0% |
| Distributable reserves | 133 | €21,081 | €21,081 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,266 | -€29,322 | +€10,944 | +27.2% |
| Amounts payable | 17/49 | €431,751 | €573,021 | +€141,270 | +32.7% |
| Amounts payable after more than one year | 17 | €273,152 | €255,520 | -€17,632 | -6.5% |
| Financial debts | 170/4 | €273,152 | €255,520 | -€17,632 | -6.5% |
| Amounts payable within one year | 42/48 | €158,599 | €317,501 | +€158,902 | +100.2% |
| Current portion of amounts payable after more than one year | 42 | €126,035 | €195,160 | +€69,125 | +54.8% |
| Trade debts | 44 | €28,451 | €2,935 | -€25,516 | -89.7% |
| Suppliers | 440/4 | €28,451 | €2,935 | -€25,516 | -89.7% |
| Taxes, remuneration and social security | 45 | €4,113 | €4,406 | +€293 | +7.1% |
| Taxes | 450/3 | €4,113 | €4,406 | +€293 | +7.1% |
| Other amounts payable | 47/48 | - | €115,000 | +€115,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,584 | €31,875 | +€8,291 | +35.2% |
| Other operating charges | 640/8 | €3,898 | €3,452 | -€446 | -11.5% |
| Gross operating margin | 9900 | €40,187 | €55,773 | +€15,586 | +38.8% |
| Operating profit (loss) | 9901 | €12,704 | €20,446 | +€7,742 | +60.9% |
| Financial income | 75/76B | - | €874 | +€874 | |
| Recurring financial income | 75 | - | €874 | +€874 | |
| Financial charges | 65/66B | €6,276 | €6,965 | +€689 | +11.0% |
| Recurring financial charges | 65 | €6,276 | €6,965 | +€689 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €6,428 | €14,355 | +€7,927 | +123.3% |
| Income taxes | 67/77 | €2,490 | €3,411 | +€922 | +37.0% |
| Profit (loss) for the period | 9904 | €3,939 | €10,944 | +€7,005 | +177.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,939 | €10,944 | +€7,005 | +177.9% |
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 7 October 2026 via checked.be.