TEXO: 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.
TEXO
Largest movements
- Stocks and contracts -€694,535
down €694,535 (-11.8%), from €5.9m to €5.2m
- Deferred charges and accrued income +€145,077
up €145,077 (+52.9%), from €274,240 to €419,317
- Other debts -€726,942
down €726,942 (-13.2%), from €5.5m to €4.8m
- Reserves +€113,808
up €113,808 (+12.9%), from €884,492 to €998,300
of which Distributable reserves: +€113,808
- Gross operating margin +€204,930
up €204,930, from -€2,637 to €202,293
- Taxes +€53,484
up €53,484, from €0 to €53,484
- Financial charges +€13,367
up €13,367 (+384.6%), from €3,476 to €16,842
- Other operating charges +€9,915
up €9,915 (+687.7%), from €1,442 to €11,357
- Depreciation +€7,780
up €7,780 (+536.5%), from €1,450 to €9,231
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 | €6,494,816 | €5,905,421 | -€589,395 | -9.1% |
| Fixed assets | 21/28 | €103,785 | €84,554 | -€19,231 | -18.5% |
| Tangible fixed assets | 22/27 | €30,785 | €51,554 | +€20,769 | +67.5% |
| Plant, machinery and equipment | 23 | €30,785 | €51,554 | +€20,769 | +67.5% |
| Financial fixed assets | 28 | €73,000 | €33,000 | -€40,000 | -54.8% |
| Current assets | 29/58 | €6,391,031 | €5,820,867 | -€570,164 | -8.9% |
| Stocks and contracts in progress | 3 | €5,882,547 | €5,188,012 | -€694,535 | -11.8% |
| Contracts in progress | 37 | €5,882,547 | €5,188,012 | -€694,535 | -11.8% |
| Amounts receivable within one year | 40/41 | €43,878 | €12,337 | -€31,541 | -71.9% |
| Trade receivables | 40 | €0 | €7,939 | +€7,939 | |
| Other amounts receivable | 41 | €43,878 | €4,398 | -€39,480 | -90.0% |
| Cash at bank and in hand | 54/58 | €190,367 | €201,201 | +€10,835 | +5.7% |
| Deferred charges and accrued income | 490/1 | €274,240 | €419,317 | +€145,077 | +52.9% |
| Total equity and liabilities | 10/49 | €6,494,816 | €5,905,421 | -€589,395 | -9.1% |
| Equity | 10/15 | €896,619 | €1,016,900 | +€120,281 | +13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €884,492 | €998,300 | +€113,808 | +12.9% |
| Tax-exempt reserves | 132 | €389 | €389 | = | 0.0% |
| Distributable reserves | 133 | €884,103 | €997,911 | +€113,808 | +12.9% |
| Profit (loss) carried forward | 14 | -€6,473 | €0 | +€6,473 | |
| Amounts payable | 17/49 | €5,598,197 | €4,888,522 | -€709,675 | -12.7% |
| Amounts payable within one year | 42/48 | €5,539,458 | €4,823,625 | -€715,833 | -12.9% |
| Trade debts | 44 | €11,831 | €181 | -€11,650 | -98.5% |
| Suppliers | 440/4 | €11,831 | €181 | -€11,650 | -98.5% |
| Taxes, remuneration and social security | 45 | €53 | €22,812 | +€22,759 | +42924.9% |
| Taxes | 450/3 | €53 | €22,812 | +€22,759 | +42924.9% |
| Other amounts payable | 47/48 | €5,527,574 | €4,800,632 | -€726,942 | -13.2% |
| Accrued charges and deferred income | 492/3 | €58,739 | €64,897 | +€6,158 | +10.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,450 | €9,231 | +€7,780 | +536.5% |
| Other operating charges | 640/8 | €1,442 | €11,357 | +€9,915 | +687.7% |
| Non-recurring operating charges | 66A | €0 | €600 | +€600 | |
| Gross operating margin | 9900 | -€2,637 | €202,293 | +€204,930 | |
| Operating profit (loss) | 9901 | -€5,529 | €181,106 | +€186,634 | |
| Financial income | 75/76B | €2,531 | €9,502 | +€6,971 | +275.4% |
| Recurring financial income | 75 | €2,531 | €9,502 | +€6,971 | +275.4% |
| Financial charges | 65/66B | €3,476 | €16,842 | +€13,367 | +384.6% |
| Recurring financial charges | 65 | €3,476 | €16,842 | +€13,367 | +384.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,473 | €173,765 | +€180,238 | |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €0 | €53,484 | +€53,484 | |
| Profit (loss) for the period | 9904 | -€6,473 | €120,281 | +€126,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,473 | €120,281 | +€126,754 |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.