TEVBEL: 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.
TEVBEL
Largest movements
- Cash +€129,862
up €129,862 (+392.1%), from €33,120 to €162,982
mainly Net result for the year (+€54,730) and Depreciation (+€39,754)
- Tangible fixed assets -€30,754
down €30,754 (-62.5%), from €49,170 to €18,416
of which Plant, machinery and equipment: -€25,463
- Receivables within one year -€15,838
down €15,838 (-17.3%), from €91,446 to €75,608
of which Other amounts receivable: -€10,660
- Stocks and contracts -€3,348
no longer reported in 2025 (was €3,348)
- Profit (loss) carried forward +€54,730
up €54,730, from -€10,418 to €44,311
- Trade debts +€22,902
up €22,902 (+94.5%), from €24,225 to €47,126
- Tax, wage and social debts +€13,999
up €13,999 (+132.7%), from €10,553 to €24,552
of which Taxes: +€16,492
- Other debts -€10,408
down €10,408 (-43.7%), from €23,807 to €13,398
- Gross operating margin +€76,397
up €76,397 (+58.8%), from €129,974 to €206,371
- Taxes +€16,628
up €16,628, from €0 to €16,628
- Staff costs -€3,489
down €3,489 (-3.6%), from €96,240 to €92,751
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 | €178,542 | €259,763 | +€81,222 | +45.5% |
| Fixed assets | 21/28 | €49,170 | €18,416 | -€30,754 | -62.5% |
| Tangible fixed assets | 22/27 | €49,170 | €18,416 | -€30,754 | -62.5% |
| Plant, machinery and equipment | 23 | €30,659 | €5,196 | -€25,463 | -83.1% |
| Furniture and vehicles | 24 | €18,510 | €13,220 | -€5,291 | -28.6% |
| Current assets | 29/58 | €129,372 | €241,348 | +€111,976 | +86.6% |
| Stocks and contracts in progress | 3 | €3,348 | - | -€3,348 | |
| Stocks | 30/36 | €3,348 | - | -€3,348 | |
| Amounts receivable within one year | 40/41 | €91,446 | €75,608 | -€15,838 | -17.3% |
| Trade receivables | 40 | €67,470 | €62,292 | -€5,178 | -7.7% |
| Other amounts receivable | 41 | €23,976 | €13,316 | -€10,660 | -44.5% |
| Cash at bank and in hand | 54/58 | €33,120 | €162,982 | +€129,862 | +392.1% |
| Deferred charges and accrued income | 490/1 | €1,458 | €2,758 | +€1,300 | +89.2% |
| Total equity and liabilities | 10/49 | €178,542 | €259,763 | +€81,222 | +45.5% |
| Equity | 10/15 | €119,958 | €174,687 | +€54,730 | +45.6% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €90,376 | €90,376 | = | 0.0% |
| Distributable reserves | 133 | €90,376 | €90,376 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,418 | €44,311 | +€54,730 | |
| Amounts payable | 17/49 | €58,584 | €85,076 | +€26,492 | +45.2% |
| Amounts payable within one year | 42/48 | €58,584 | €85,076 | +€26,492 | +45.2% |
| Trade debts | 44 | €24,225 | €47,126 | +€22,902 | +94.5% |
| Suppliers | 440/4 | €24,225 | €47,126 | +€22,902 | +94.5% |
| Taxes, remuneration and social security | 45 | €10,553 | €24,552 | +€13,999 | +132.7% |
| Taxes | 450/3 | - | €16,492 | +€16,492 | |
| Remuneration and social security | 454/9 | €10,553 | €8,059 | -€2,494 | -23.6% |
| Other amounts payable | 47/48 | €23,807 | €13,398 | -€10,408 | -43.7% |
| Remuneration, social security and pensions | 62 | €96,240 | €92,751 | -€3,489 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,649 | €39,754 | -€895 | -2.2% |
| Other operating charges | 640/8 | €1,778 | €548 | -€1,229 | -69.1% |
| Gross operating margin | 9900 | €129,974 | €206,371 | +€76,397 | +58.8% |
| Operating profit (loss) | 9901 | -€8,692 | €73,318 | +€82,010 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,726 | €1,960 | +€234 | +13.5% |
| Recurring financial charges | 65 | €1,726 | €1,960 | +€234 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | -€10,418 | €71,358 | +€81,776 | |
| Income taxes | 67/77 | €0 | €16,628 | +€16,628 | |
| Profit (loss) for the period | 9904 | -€10,418 | €54,730 | +€65,148 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,418 | €54,730 | +€65,148 |
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 4 October 2026 via checked.be.