DR. TERMOTE: 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.
DR. TERMOTE
Largest movements
- Receivables within one year +€125,383
up €125,383 (+5.5%), from €2.3m to €2.4m
of which Trade receivables: +€195,963
- Cash +€97,256
up €97,256 (+32.1%), from €303,407 to €400,663
mainly Net result for the year (+€201,102) and Tax, wage and social debts (+€28,888)
- Reserves +€201,102
up €201,102 (+14.2%), from €1.4m to €1.6m
of which Distributable reserves: +€201,102
- Gross operating margin +€117,845
up €117,845 (+40.7%), from €289,835 to €407,679
- Taxes +€42,945
up €42,945 (+75.0%), from €57,295 to €100,240
- Staff costs +€6,880
up €6,880 (+10.7%), from €64,275 to €71,156
- Other operating charges -€6,673
down €6,673 (-53.4%), from €12,489 to €5,817
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,849,958 | €3,092,572 | +€242,614 | +8.5% |
| Fixed assets | 21/28 | €143,617 | €162,845 | +€19,228 | +13.4% |
| Tangible fixed assets | 22/27 | €143,617 | €162,845 | +€19,228 | +13.4% |
| Land and buildings | 22 | €135,619 | €126,906 | -€8,712 | -6.4% |
| Plant, machinery and equipment | 23 | €553 | €318 | -€235 | -42.5% |
| Furniture and vehicles | 24 | €7,446 | €35,621 | +€28,175 | +378.4% |
| Current assets | 29/58 | €2,706,340 | €2,929,726 | +€223,386 | +8.3% |
| Amounts receivable within one year | 40/41 | €2,296,364 | €2,421,746 | +€125,383 | +5.5% |
| Trade receivables | 40 | €350,805 | €546,768 | +€195,963 | +55.9% |
| Other amounts receivable | 41 | €1,945,558 | €1,874,978 | -€70,580 | -3.6% |
| Current investments | 50/53 | €106,000 | €106,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €303,407 | €400,663 | +€97,256 | +32.1% |
| Deferred charges and accrued income | 490/1 | €569 | €1,317 | +€748 | +131.3% |
| Total equity and liabilities | 10/49 | €2,849,958 | €3,092,572 | +€242,614 | +8.5% |
| Equity | 10/15 | €2,715,049 | €2,916,130 | +€201,081 | +7.4% |
| Contributions | 10/11 | €18,592 | €18,571 | -€21 | -0.1% |
| Reserves | 13 | €1,417,296 | €1,618,398 | +€201,102 | +14.2% |
| Non-distributable reserves | 130/1 | €66,125 | €66,125 | = | 0.0% |
| Reserves not available under the articles | 1311 | €64,167 | €66,125 | +€1,959 | +3.1% |
| Other | 1319 | €1,959 | €0 | -€1,959 | -100.0% |
| Distributable reserves | 133 | €1,351,171 | €1,552,273 | +€201,102 | +14.9% |
| Profit (loss) carried forward | 14 | €1,279,161 | €1,279,161 | = | 0.0% |
| Amounts payable | 17/49 | €134,909 | €176,442 | +€41,533 | +30.8% |
| Amounts payable within one year | 42/48 | €134,909 | €176,442 | +€41,533 | +30.8% |
| Financial debts | 43 | €16,945 | €16,959 | +€15 | +0.1% |
| Credit institutions | 430/8 | €16,945 | €16,959 | +€15 | +0.1% |
| Trade debts | 44 | €59,297 | €71,928 | +€12,631 | +21.3% |
| Suppliers | 440/4 | €59,297 | €71,928 | +€12,631 | +21.3% |
| Taxes, remuneration and social security | 45 | €58,667 | €87,555 | +€28,888 | +49.2% |
| Taxes | 450/3 | €39,568 | €78,676 | +€39,108 | +98.8% |
| Remuneration and social security | 454/9 | €19,099 | €8,878 | -€10,221 | -53.5% |
| Non-recurring operating income | 76A | €514 | €0 | -€514 | -100.0% |
| Remuneration, social security and pensions | 62 | €64,275 | €71,156 | +€6,880 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,194 | €25,348 | +€154 | +0.6% |
| Other operating charges | 640/8 | €12,489 | €5,817 | -€6,673 | -53.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €289,835 | €407,679 | +€117,845 | +40.7% |
| Operating profit (loss) | 9901 | €187,876 | €305,359 | +€117,483 | +62.5% |
| Financial income | 75/76B | - | €497 | +€497 | |
| Recurring financial income | 75 | - | €497 | +€497 | |
| Financial charges | 65/66B | €2,415 | €4,513 | +€2,097 | +86.8% |
| Recurring financial charges | 65 | €2,415 | €4,513 | +€2,097 | +86.8% |
| Profit (loss) for the period before taxes | 9903 | €185,460 | €301,342 | +€115,882 | +62.5% |
| Income taxes | 67/77 | €57,295 | €100,240 | +€42,945 | +75.0% |
| Profit (loss) for the period | 9904 | €128,165 | €201,102 | +€72,937 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €128,165 | €201,102 | +€72,937 | +56.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.