TEVEMA: what changed
TEVEMA
Largest movements
- Intangible fixed assets -€35,582
down €35,582 (-17.3%), from €205,124 to €169,542
- Receivables within one year +€20,608
up €20,608 (+18.8%), from €109,359 to €129,967
of which Trade receivables: +€29,861
- Cash -€18,071
down €18,071 (-21.5%), from €84,127 to €66,056
mainly Debts after one year (-€179,666) and Receivables within one year (-€20,608)
- Tangible fixed assets -€8,909
down €8,909 (-35.3%), from €25,225 to €16,316
of which Furniture and vehicles: -€7,612
- Debts after one year -€179,666
down €179,666 (-58.5%), from €307,181 to €127,515
- Profit (loss) carried forward +€68,085
up €68,085 (+76.3%), from €89,236 to €157,322
- Other debts +€43,456
up €43,456 (+53.3%), from €81,561 to €125,016
- Tax, wage and social debts +€26,136
up €26,136 (+103%), from €25,492 to €51,628
of which Taxes: +€20,645
- Gross operating margin +€139,117
up €139,117 (+59.2%), from €234,875 to €373,992
- Staff costs +€48,884
up €48,884 (+31.7%), from €154,323 to €203,208
- Depreciation +€33,820
up €33,820 (+141%), from €23,996 to €57,816
- Taxes +€13,326
up €13,326 (+88.9%), from €14,985 to €28,312
- Financial charges +€10,471
up €10,471 (+203%), from €5,152 to €15,623
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €618,384 | €579,482 | -€38,903 | -6.3% |
| Fixed assets | 21/28 | €230,708 | €185,858 | -€44,851 | -19.4% |
| Intangible fixed assets | 21 | €205,124 | €169,542 | -€35,582 | -17.3% |
| Tangible fixed assets | 22/27 | €25,225 | €16,316 | -€8,909 | -35.3% |
| Furniture and vehicles | 24 | €20,649 | €13,036 | -€7,612 | -36.9% |
| Other tangible fixed assets | 26 | €4,576 | €3,279 | -€1,297 | -28.3% |
| Financial fixed assets | 28 | €360 | - | -€360 | |
| Current assets | 29/58 | €387,676 | €393,624 | +€5,948 | +1.5% |
| Stocks and contracts in progress | 3 | €186,210 | €187,894 | +€1,684 | +0.9% |
| Stocks | 30/36 | €186,210 | €187,894 | +€1,684 | +0.9% |
| Amounts receivable within one year | 40/41 | €109,359 | €129,967 | +€20,608 | +18.8% |
| Trade receivables | 40 | €100,086 | €129,948 | +€29,861 | +29.8% |
| Other amounts receivable | 41 | €9,273 | €20 | -€9,253 | -99.8% |
| Cash at bank and in hand | 54/58 | €84,127 | €66,056 | -€18,071 | -21.5% |
| Deferred charges and accrued income | 490/1 | €7,980 | €9,707 | +€1,728 | +21.6% |
| Total equity and liabilities | 10/49 | €618,384 | €579,482 | -€38,903 | -6.3% |
| Equity | 10/15 | €157,436 | €225,522 | +€68,085 | +43.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,236 | €157,322 | +€68,085 | +76.3% |
| Amounts payable | 17/49 | €460,948 | €353,960 | -€106,988 | -23.2% |
| Amounts payable after more than one year | 17 | €307,181 | €127,515 | -€179,666 | -58.5% |
| Other amounts payable | 178/9 | €307,181 | €127,515 | -€179,666 | -58.5% |
| Amounts payable within one year | 42/48 | €153,767 | €226,445 | +€72,678 | +47.3% |
| Trade debts | 44 | €46,715 | €49,801 | +€3,086 | +6.6% |
| Suppliers | 440/4 | €46,715 | €49,801 | +€3,086 | +6.6% |
| Taxes, remuneration and social security | 45 | €25,492 | €51,628 | +€26,136 | +103% |
| Taxes | 450/3 | €7,500 | €28,145 | +€20,645 | +275% |
| Remuneration and social security | 454/9 | €17,992 | €23,483 | +€5,491 | +30.5% |
| Other amounts payable | 47/48 | €81,561 | €125,016 | +€43,456 | +53.3% |
| Remuneration, social security and pensions | 62 | €154,323 | €203,208 | +€48,884 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,996 | €57,816 | +€33,820 | +141% |
| Other operating charges | 640/8 | €704 | €972 | +€268 | +38.0% |
| Gross operating margin | 9900 | €234,875 | €373,992 | +€139,117 | +59.2% |
| Operating profit (loss) | 9901 | €55,852 | €111,996 | +€56,145 | +101% |
| Financial income | 75/76B | €20 | €24 | +€4 | +18.5% |
| Recurring financial income | 75 | €20 | €24 | +€4 | +18.5% |
| Financial charges | 65/66B | €5,152 | €15,623 | +€10,471 | +203% |
| Recurring financial charges | 65 | €5,152 | €15,623 | +€10,471 | +203% |
| Profit (loss) for the period before taxes | 9903 | €50,720 | €96,397 | +€45,677 | +90.1% |
| Income taxes | 67/77 | €14,985 | €28,312 | +€13,326 | +88.9% |
| Profit (loss) for the period | 9904 | €35,735 | €68,085 | +€32,350 | +90.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,735 | €68,085 | +€32,350 | +90.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.