TETRAMAC: 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.
What changed
TETRAMAC
NACE 43.120, Site preparation
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€133,818
2024 · €253,102-€119,284
Equity
€1.8m
2024 · €1.6m+€130,043
Cash
€44,705
2024 · €98,633-€53,928
Balance sheet total
€9.5m
2024 · €9.7m-€131,456
Largest movements
Assets
- Receivables within one year -€684,605
down €684,605 (-13.6%), from €5.0m to €4.4m
of which Trade receivables: -€630,993
- Tangible fixed assets +€626,969
up €626,969 (+14.2%), from €4.4m to €5.1m
of which Leasing and similar rights: +€809,893
Equity and liabilities
- Trade debts -€492,760
down €492,760 (-33.6%), from €1.5m to €972,744
- Debts after one year +€449,935
up €449,935 (+12.9%), from €3.5m to €3.9m
- Short-term financial debts -€408,485
down €408,485 (-24.4%), from €1.7m to €1.3m
- Current portion of long-term debt +€198,799
up €198,799 (+15.7%), from €1.3m to €1.5m
- Profit (loss) carried forward +€133,818
up €133,818 (+60.2%), from €222,419 to €356,237
Income statement
- Gross operating margin -€487,259
down €487,259 (-13.6%), from €3.6m to €3.1m
- Depreciation -€258,036
down €258,036 (-15.0%), from €1.7m to €1.5m
- Staff costs -€144,519
down €144,519 (-10.5%), from €1.4m to €1.2m
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.
Result 2024
€253,102
Gross operating margin
-€487,259
Staff costs
+€144,519
Depreciation
+€258,036
Other operating charges
-€644
Financial income
-€21,977
Financial charges
+€1,891
Taxes
-€13,851
Result 2025
€133,818
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.
From operations
+€1.8m
Investment
-€2.1m
Financing
+€236,474
Cash 2024
€98,633
From operations (derived)
+€1.8m
Net result for the year
+€133,818
Depreciation
+€1.5m
Smaller working-capital items
+€2,666
Receivables within one year
+€684,605
Deferred charges and accrued income
+€16,349
Trade debts
-€492,760
Other debts
-€8,690
Investment (derived)
-€2.1m
Investment in fixed assets (net)
-€2.1m
Financing
+€236,474
Debts after one year
+€449,935
Current portion of long-term debt
+€198,799
Short-term financial debts
-€408,485
Contributions, distributions and other
-€3,774
Cash 2025
€44,705
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,681,419 | €9,549,963 | -€131,456 | -1.4% |
| Fixed assets | 21/28 | €4,432,972 | €5,059,360 | +€626,388 | +14.1% |
| Tangible fixed assets | 22/27 | €4,429,414 | €5,056,383 | +€626,969 | +14.2% |
| Plant, machinery and equipment | 23 | €252,259 | €99,861 | -€152,397 | -60.4% |
| Furniture and vehicles | 24 | €61,919 | €31,504 | -€30,415 | -49.1% |
| Leasing and similar rights | 25 | €4,115,060 | €4,924,953 | +€809,893 | +19.7% |
| Other tangible fixed assets | 26 | €177 | €65 | -€112 | -63.3% |
| Financial fixed assets | 28 | €3,557 | €2,977 | -€581 | -16.3% |
| Current assets | 29/58 | €5,248,447 | €4,490,603 | -€757,844 | -14.4% |
| Stocks and contracts in progress | 3 | €84,351 | €81,388 | -€2,963 | -3.5% |
| Stocks | 30/36 | €84,351 | €81,388 | -€2,963 | -3.5% |
| Amounts receivable within one year | 40/41 | €5,042,865 | €4,358,260 | -€684,605 | -13.6% |
| Trade receivables | 40 | €3,072,338 | €2,441,346 | -€630,993 | -20.5% |
| Other amounts receivable | 41 | €1,970,527 | €1,916,915 | -€53,612 | -2.7% |
| Cash at bank and in hand | 54/58 | €98,633 | €44,705 | -€53,928 | -54.7% |
| Deferred charges and accrued income | 490/1 | €22,599 | €6,250 | -€16,349 | -72.3% |
| Total equity and liabilities | 10/49 | €9,681,419 | €9,549,963 | -€131,456 | -1.4% |
| Equity | 10/15 | €1,640,724 | €1,770,767 | +€130,043 | +7.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €1,164,531 | €1,164,531 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Other | 1319 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €172,610 | €172,610 | = | 0.0% |
| Distributable reserves | 133 | €966,921 | €966,921 | = | 0.0% |
| Profit (loss) carried forward | 14 | €222,419 | €356,237 | +€133,818 | +60.2% |
| Investment grants | 15 | €3,774 | - | -€3,774 | |
| Provisions and deferred taxes | 16 | €1,479 | - | -€1,479 | |
| Deferred taxes | 168 | €1,479 | - | -€1,479 | |
| Amounts payable | 17/49 | €8,039,216 | €7,779,195 | -€260,020 | -3.2% |
| Amounts payable after more than one year | 17 | €3,497,921 | €3,947,856 | +€449,935 | +12.9% |
| Financial debts | 170/4 | €3,497,921 | €3,947,856 | +€449,935 | +12.9% |
| Amounts payable within one year | 42/48 | €4,536,967 | €3,826,135 | -€710,832 | -15.7% |
| Current portion of amounts payable after more than one year | 42 | €1,264,668 | €1,463,466 | +€198,799 | +15.7% |
| Financial debts | 43 | €1,671,194 | €1,262,709 | -€408,485 | -24.4% |
| Credit institutions | 430/8 | €1,671,194 | €1,262,709 | -€408,485 | -24.4% |
| Trade debts | 44 | €1,465,504 | €972,744 | -€492,760 | -33.6% |
| Suppliers | 440/4 | €1,465,504 | €972,744 | -€492,760 | -33.6% |
| Taxes, remuneration and social security | 45 | €126,418 | €126,722 | +€305 | +0.2% |
| Remuneration and social security | 454/9 | €126,418 | €126,722 | +€305 | +0.2% |
| Other amounts payable | 47/48 | €9,184 | €493 | -€8,690 | -94.6% |
| Accrued charges and deferred income | 492/3 | €4,328 | €5,205 | +€877 | +20.3% |
| Non-recurring operating income | 76A | €176,000 | - | -€176,000 | |
| Remuneration, social security and pensions | 62 | €1,378,454 | €1,233,934 | -€144,519 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,723,789 | €1,465,753 | -€258,036 | -15.0% |
| Other operating charges | 640/8 | €10,115 | €10,759 | +€644 | +6.4% |
| Gross operating margin | 9900 | €3,583,433 | €3,096,174 | -€487,259 | -13.6% |
| Operating profit (loss) | 9901 | €471,075 | €385,728 | -€85,347 | -18.1% |
| Financial income | 75/76B | €27,246 | €5,269 | -€21,977 | -80.7% |
| Recurring financial income | 75 | €25,483 | €5,269 | -€20,215 | -79.3% |
| Non-recurring financial income | 76B | €1,763 | - | -€1,763 | |
| Financial charges | 65/66B | €207,878 | €205,988 | -€1,891 | -0.9% |
| Recurring financial charges | 65 | €207,878 | €205,988 | -€1,891 | -0.9% |
| Profit (loss) for the period before taxes | 9903 | €290,443 | €185,009 | -€105,433 | -36.3% |
| Income taxes | 67/77 | €37,341 | €51,192 | +€13,851 | +37.1% |
| Profit (loss) for the period | 9904 | €253,102 | €133,818 | -€119,284 | -47.1% |
| Transfer to tax-exempt reserves | 689 | €172,610 | - | -€172,610 | |
| Profit (loss) for the period to be appropriated | 9905 | €80,492 | €133,818 | +€53,326 | +66.3% |
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 9 October 2026 via checked.be.