ULRICH TEICHMANN: 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.
ULRICH TEICHMANN
Largest movements
- Tangible fixed assets +€96,610
up €96,610 (+1,219%), from €7,926 to €104,536
of which Furniture and vehicles: +€96,645
- Cash -€14,320
down €14,320 (-79.9%), from €17,929 to €3,608
mainly Investment in fixed assets (net) (-€102,384) and Net result for the year (-€14,688)
- Deferred charges and accrued income +€6,504
up €6,504 (+63.2%), from €10,287 to €16,791
- Receivables within one year +€5,336
up €5,336 (+101%), from €5,275 to €10,611
of which Other amounts receivable: +€4,593
- Debts after one year +€63,646
new in 2025: €63,646
- Trade debts +€20,672
up €20,672 (+1,779%), from €1,162 to €21,833
- Current portion of long-term debt +€15,245
new in 2025: €15,245
- Reserves -€14,688
down €14,688 (-40.4%), from €36,396 to €21,708
- Other debts +€8,893
up €8,893 (+1,035%), from €859 to €9,752
- Gross operating margin -€32,387
down €32,387, from €26,074 to -€6,313
- Taxes -€5,037
down €5,037 (-97.4%), from €5,169 to €132
- Depreciation +€2,608
up €2,608 (+82.4%), from €3,166 to €5,774
- Other operating charges +€462
up €462 (+243%), from €190 to €651
- Financial charges +€401
up €401 (+28.3%), from €1,416 to €1,817
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 | €41,416 | €135,546 | +€94,130 | +227% |
| Fixed assets | 21/28 | €7,926 | €104,536 | +€96,610 | +1,219% |
| Tangible fixed assets | 22/27 | €7,926 | €104,536 | +€96,610 | +1,219% |
| Plant, machinery and equipment | 23 | €35 | - | -€35 | |
| Furniture and vehicles | 24 | €7,891 | €104,536 | +€96,645 | +1,225% |
| Current assets | 29/58 | €33,490 | €31,010 | -€2,480 | -7.4% |
| Amounts receivable within one year | 40/41 | €5,275 | €10,611 | +€5,336 | +101% |
| Trade receivables | 40 | - | €743 | +€743 | |
| Other amounts receivable | 41 | €5,275 | €9,868 | +€4,593 | +87.1% |
| Cash at bank and in hand | 54/58 | €17,929 | €3,608 | -€14,320 | -79.9% |
| Deferred charges and accrued income | 490/1 | €10,287 | €16,791 | +€6,504 | +63.2% |
| Total equity and liabilities | 10/49 | €41,416 | €135,546 | +€94,130 | +227% |
| Equity | 10/15 | €39,396 | €24,708 | -€14,688 | -37.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €36,396 | €21,708 | -€14,688 | -40.4% |
| Distributable reserves | 133 | €36,396 | €21,708 | -€14,688 | -40.4% |
| Amounts payable | 17/49 | €2,021 | €110,838 | +€108,817 | +5,385% |
| Amounts payable after more than one year | 17 | - | €63,646 | +€63,646 | |
| Financial debts | 170/4 | - | €63,646 | +€63,646 | |
| Amounts payable within one year | 42/48 | €2,021 | €46,847 | +€44,826 | +2,218% |
| Current portion of amounts payable after more than one year | 42 | - | €15,245 | +€15,245 | |
| Trade debts | 44 | €1,162 | €21,833 | +€20,672 | +1,779% |
| Suppliers | 440/4 | €1,162 | €21,833 | +€20,672 | +1,779% |
| Taxes, remuneration and social security | 45 | - | €17 | +€17 | |
| Taxes | 450/3 | - | €17 | +€17 | |
| Other amounts payable | 47/48 | €859 | €9,752 | +€8,893 | +1,035% |
| Accrued charges and deferred income | 492/3 | - | €345 | +€345 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,166 | €5,774 | +€2,608 | +82.4% |
| Other operating charges | 640/8 | €190 | €651 | +€462 | +243% |
| Gross operating margin | 9900 | €26,074 | -€6,313 | -€32,387 | |
| Operating profit (loss) | 9901 | €22,718 | -€12,738 | -€35,456 | |
| Financial charges | 65/66B | €1,416 | €1,817 | +€401 | +28.3% |
| Recurring financial charges | 65 | €1,416 | €1,817 | +€401 | +28.3% |
| Profit (loss) for the period before taxes | 9903 | €21,302 | -€14,556 | -€35,857 | |
| Income taxes | 67/77 | €5,169 | €132 | -€5,037 | -97.4% |
| Profit (loss) for the period | 9904 | €16,132 | -€14,688 | -€30,820 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,132 | -€14,688 | -€30,820 |
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 17 October 2026 via checked.be.