@TEC: 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.
@TEC
Largest movements
- Stocks and contracts -€180,401
down €180,401 (-100%), from €180,401 to €0
- Tangible fixed assets +€72,755
up €72,755 (+28.2%), from €257,646 to €330,401
of which Leasing and similar rights: +€55,844
- Cash +€66,236
up €66,236 (+102%), from €65,114 to €131,350
mainly Stocks and contracts (+€180,401) and Other debts (+€114,128)
- Receivables within one year -€41,018
down €41,018 (-16.2%), from €252,879 to €211,861
of which Trade receivables: -€27,527
- Financial fixed assets -€22,524
down €22,524 (-84.8%), from €26,574 to €4,050
- Reserves -€275,176
down €275,176 (-52.0%), from €528,988 to €253,812
- Other debts +€114,128
up €114,128 (+360%), from €31,716 to €145,844
- Debts after one year +€45,527
up €45,527, from €0 to €45,527
- Gross operating margin +€70,827
up €70,827 (+135%), from €52,600 to €123,427
- Write-downs +€44,687
up €44,687, from -€26,537 to €18,150
- Taxes +€3,720
up €3,720 (+64.4%), from €5,778 to €9,498
- Other operating charges -€2,667
down €2,667 (-37.4%), from €7,130 to €4,463
- Financial income +€1,995
up €1,995 (+1,123%), from €178 to €2,172
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 | €785,620 | €681,639 | -€103,981 | -13.2% |
| Fixed assets | 21/28 | €284,220 | €334,451 | +€50,231 | +17.7% |
| Tangible fixed assets | 22/27 | €257,646 | €330,401 | +€72,755 | +28.2% |
| Land and buildings | 22 | €242,802 | €234,829 | -€7,973 | -3.3% |
| Plant, machinery and equipment | 23 | €1,693 | €1,204 | -€489 | -28.9% |
| Furniture and vehicles | 24 | €8,974 | €10,919 | +€1,945 | +21.7% |
| Leasing and similar rights | 25 | - | €55,844 | +€55,844 | |
| Other tangible fixed assets | 26 | €4,177 | €27,606 | +€23,428 | +561% |
| Financial fixed assets | 28 | €26,574 | €4,050 | -€22,524 | -84.8% |
| Current assets | 29/58 | €501,400 | €347,187 | -€154,213 | -30.8% |
| Stocks and contracts in progress | 3 | €180,401 | €0 | -€180,401 | -100% |
| Stocks | 30/36 | €180,401 | €0 | -€180,401 | -100% |
| Amounts receivable within one year | 40/41 | €252,879 | €211,861 | -€41,018 | -16.2% |
| Trade receivables | 40 | €46,669 | €19,142 | -€27,527 | -59.0% |
| Other amounts receivable | 41 | €206,210 | €192,719 | -€13,491 | -6.5% |
| Cash at bank and in hand | 54/58 | €65,114 | €131,350 | +€66,236 | +102% |
| Deferred charges and accrued income | 490/1 | €3,007 | €3,976 | +€969 | +32.2% |
| Total equity and liabilities | 10/49 | €785,620 | €681,639 | -€103,981 | -13.2% |
| Equity | 10/15 | €728,043 | €452,867 | -€275,176 | -37.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €528,988 | €253,812 | -€275,176 | -52.0% |
| Distributable reserves | 133 | €528,988 | €253,812 | -€275,176 | -52.0% |
| Profit (loss) carried forward | 14 | €186,554 | €186,554 | = | 0.0% |
| Amounts payable | 17/49 | €57,577 | €228,772 | +€171,195 | +297% |
| Amounts payable after more than one year | 17 | €0 | €45,527 | +€45,527 | |
| Financial debts | 170/4 | €0 | €45,527 | +€45,527 | |
| Amounts payable within one year | 42/48 | €57,577 | €183,245 | +€125,668 | +218% |
| Current portion of amounts payable after more than one year | 42 | €6,667 | €11,711 | +€5,044 | +75.7% |
| Financial debts | 43 | €1,976 | €3,069 | +€1,093 | +55.3% |
| Credit institutions | 430/8 | €1,976 | €3,069 | +€1,093 | +55.3% |
| Trade debts | 44 | €1,945 | €3,576 | +€1,631 | +83.9% |
| Suppliers | 440/4 | €1,945 | €3,576 | +€1,631 | +83.9% |
| Taxes, remuneration and social security | 45 | €15,273 | €19,046 | +€3,773 | +24.7% |
| Taxes | 450/3 | €15,273 | €19,046 | +€3,773 | +24.7% |
| Other amounts payable | 47/48 | €31,716 | €145,844 | +€114,128 | +360% |
| Non-recurring operating income | 76A | €18,396 | €0 | -€18,396 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,463 | €26,335 | -€1,129 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,537 | €18,150 | +€44,687 | |
| Other operating charges | 640/8 | €7,130 | €4,463 | -€2,667 | -37.4% |
| Non-recurring operating charges | 66A | €15,038 | €44,213 | +€29,175 | +194% |
| Gross operating margin | 9900 | €52,600 | €123,427 | +€70,827 | +135% |
| Operating profit (loss) | 9901 | €29,505 | €30,266 | +€761 | +2.6% |
| Financial income | 75/76B | €178 | €2,172 | +€1,995 | +1,123% |
| Recurring financial income | 75 | €178 | €2,172 | +€1,995 | +1,123% |
| Financial charges | 65/66B | €1,945 | €2,264 | +€319 | +16.4% |
| Recurring financial charges | 65 | €1,945 | €2,264 | +€319 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €27,738 | €30,174 | +€2,436 | +8.8% |
| Income taxes | 67/77 | €5,778 | €9,498 | +€3,720 | +64.4% |
| Profit (loss) for the period | 9904 | €21,961 | €20,676 | -€1,284 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,961 | €20,676 | -€1,284 | -5.8% |
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 26 October 2026 via checked.be.