TSENA BOUENI: 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.
TSENA BOUENI
Largest movements
- Cash +€30,885
up €30,885 (+86.5%), from €35,725 to €66,610
mainly Net result for the year (+€96,026) and Depreciation (+€14,019)
- Intangible fixed assets -€11,000
down €11,000 (-24.5%), from €44,917 to €33,917
- Tangible fixed assets +€8,016
up €8,016 (+91.8%), from €8,728 to €16,744
of which Furniture and vehicles: +€7,504
- Receivables within one year +€3,124
up €3,124 (+79.1%), from €3,952 to €7,076
of which Other amounts receivable: +€1,625
- Profit (loss) carried forward +€76,026
up €76,026 (+321%), from €23,721 to €99,747
- Other debts -€25,652
down €25,652 (-70.8%), from €36,206 to €10,554
- Current portion of long-term debt -€8,606
down €8,606 (-68.2%), from €12,613 to €4,007
- Tax, wage and social debts -€5,809
no longer reported in 2025 (was €5,809)
of which Taxes: -€3,750
- Debts after one year -€4,007
down €4,007 (-17.8%), from €22,488 to €18,481
- Gross operating margin +€63,503
up €63,503 (+82.3%), from €77,129 to €140,631
- Taxes +€14,432
up €14,432 (+103%), from €13,944 to €28,375
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.
Derived cash bridge
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 | €121,396 | €154,265 | +€32,869 | +27.1% |
| Fixed assets | 21/28 | €55,595 | €53,991 | -€1,604 | -2.9% |
| Intangible fixed assets | 21 | €44,917 | €33,917 | -€11,000 | -24.5% |
| Tangible fixed assets | 22/27 | €8,728 | €16,744 | +€8,016 | +91.8% |
| Land and buildings | 22 | €2,436 | €1,979 | -€457 | -18.8% |
| Plant, machinery and equipment | 23 | €1,229 | €2,198 | +€969 | +78.9% |
| Furniture and vehicles | 24 | €5,063 | €12,567 | +€7,504 | +148% |
| Financial fixed assets | 28 | €1,950 | €3,330 | +€1,380 | +70.8% |
| Current assets | 29/58 | €65,801 | €100,274 | +€34,473 | +52.4% |
| Amounts receivable within one year | 40/41 | €3,952 | €7,076 | +€3,124 | +79.1% |
| Trade receivables | 40 | €1,996 | €3,495 | +€1,499 | +75.1% |
| Other amounts receivable | 41 | €1,956 | €3,581 | +€1,625 | +83.1% |
| Current investments | 50/53 | €23,467 | €23,467 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €35,725 | €66,610 | +€30,885 | +86.5% |
| Deferred charges and accrued income | 490/1 | €2,657 | €3,121 | +€464 | +17.5% |
| Total equity and liabilities | 10/49 | €121,396 | €154,265 | +€32,869 | +27.1% |
| Equity | 10/15 | €43,470 | €119,496 | +€76,026 | +175% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,149 | €1,149 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,149 | €1,149 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,149 | €1,149 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,721 | €99,747 | +€76,026 | +321% |
| Amounts payable | 17/49 | €77,926 | €34,769 | -€43,157 | -55.4% |
| Amounts payable after more than one year | 17 | €22,488 | €18,481 | -€4,007 | -17.8% |
| Financial debts | 170/4 | €22,488 | €18,481 | -€4,007 | -17.8% |
| Amounts payable within one year | 42/48 | €55,438 | €16,288 | -€39,151 | -70.6% |
| Current portion of amounts payable after more than one year | 42 | €12,613 | €4,007 | -€8,606 | -68.2% |
| Trade debts | 44 | €811 | €1,727 | +€916 | +113% |
| Suppliers | 440/4 | €811 | €1,727 | +€916 | +113% |
| Taxes, remuneration and social security | 45 | €5,809 | - | -€5,809 | |
| Taxes | 450/3 | €3,750 | - | -€3,750 | |
| Remuneration and social security | 454/9 | €2,059 | - | -€2,059 | |
| Other amounts payable | 47/48 | €36,206 | €10,554 | -€25,652 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,680 | €14,019 | +€1,340 | +10.6% |
| Other operating charges | 640/8 | €1,575 | €1,325 | -€249 | -15.8% |
| Gross operating margin | 9900 | €77,129 | €140,631 | +€63,503 | +82.3% |
| Operating profit (loss) | 9901 | €62,874 | €125,287 | +€62,413 | +99.3% |
| Financial charges | 65/66B | €1,061 | €886 | -€176 | -16.6% |
| Recurring financial charges | 65 | €1,061 | €886 | -€176 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €61,813 | €124,401 | +€62,588 | +101% |
| Income taxes | 67/77 | €13,944 | €28,375 | +€14,432 | +103% |
| Profit (loss) for the period | 9904 | €47,870 | €96,026 | +€48,157 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €47,870 | €96,026 | +€48,157 | +101% |
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 25 October 2026 via checked.be.