TEFICO: what changed
TEFICO
Largest movements
- Cash +€148,436
up €148,436 (+517%), from €28,704 to €177,140
mainly Other debts (+€147,705) and Net result for the year (+€114,020)
- Receivables within one year -€49,304
down €49,304 (-16.2%), from €303,910 to €254,605
of which Other amounts receivable: -€42,783
- Tangible fixed assets +€19,985
up €19,985 (+2,730%), from €732 to €20,717
- Other debts +€147,705
up €147,705 (+227%), from €64,949 to €212,654
- Reserves -€65,980
down €65,980 (-13.3%), from €497,302 to €431,322
- Tax, wage and social debts +€44,044
up €44,044 (+3,713%), from €1,186 to €45,230
- Gross operating margin +€159,511
up €159,511, from -€25,782 to €133,729
- Taxes +€51,751
up €51,751 (+2,203%), from €2,349 to €54,100
- Financial income +€3,638
up €3,638 (+10.3%), from €35,289 to €38,926
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 | €584,358 | €703,503 | +€119,145 | +20.4% |
| Fixed assets | 21/28 | €250,733 | €270,718 | +€19,985 | +8.0% |
| Tangible fixed assets | 22/27 | €732 | €20,717 | +€19,985 | +2,730% |
| Furniture and vehicles | 24 | €732 | €20,717 | +€19,985 | +2,730% |
| Financial fixed assets | 28 | €250,001 | €250,001 | = | 0.0% |
| Current assets | 29/58 | €333,625 | €432,785 | +€99,160 | +29.7% |
| Amounts receivable within one year | 40/41 | €303,910 | €254,605 | -€49,304 | -16.2% |
| Trade receivables | 40 | €10,000 | €3,479 | -€6,521 | -65.2% |
| Other amounts receivable | 41 | €293,910 | €251,127 | -€42,783 | -14.6% |
| Cash at bank and in hand | 54/58 | €28,704 | €177,140 | +€148,436 | +517% |
| Deferred charges and accrued income | 490/1 | €1,011 | €1,040 | +€29 | +2.8% |
| Total equity and liabilities | 10/49 | €584,358 | €703,503 | +€119,145 | +20.4% |
| Equity | 10/15 | €503,502 | €437,522 | -€65,980 | -13.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €497,302 | €431,322 | -€65,980 | -13.3% |
| Distributable reserves | 133 | €497,302 | €431,322 | -€65,980 | -13.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €80,856 | €265,982 | +€185,126 | +229% |
| Amounts payable within one year | 42/48 | €79,243 | €264,040 | +€184,796 | +233% |
| Trade debts | 44 | €13,108 | €6,155 | -€6,953 | -53.0% |
| Suppliers | 440/4 | €13,108 | €6,155 | -€6,953 | -53.0% |
| Taxes, remuneration and social security | 45 | €1,186 | €45,230 | +€44,044 | +3,713% |
| Taxes | 450/3 | €1,186 | €45,230 | +€44,044 | +3,713% |
| Other amounts payable | 47/48 | €64,949 | €212,654 | +€147,705 | +227% |
| Accrued charges and deferred income | 492/3 | €1,612 | €1,942 | +€329 | +20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €804 | €806 | +€2 | +0.3% |
| Other operating charges | 640/8 | €847 | €1,171 | +€324 | +38.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€25,782 | €133,729 | +€159,511 | |
| Operating profit (loss) | 9901 | -€27,433 | €131,752 | +€159,185 | |
| Financial income | 75/76B | €35,289 | €38,926 | +€3,638 | +10.3% |
| Recurring financial income | 75 | €35,289 | €38,926 | +€3,638 | +10.3% |
| Financial charges | 65/66B | €2,212 | €2,559 | +€348 | +15.7% |
| Recurring financial charges | 65 | €2,212 | €2,559 | +€348 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €5,645 | €168,119 | +€162,475 | +2,878% |
| Income taxes | 67/77 | €2,349 | €54,100 | +€51,751 | +2,203% |
| Profit (loss) for the period | 9904 | €3,296 | €114,020 | +€110,724 | +3,359% |
| Profit (loss) for the period to be appropriated | 9905 | €3,296 | €114,020 | +€110,724 | +3,359% |
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 1 November 2026 via checked.be.