Dr. TERWECOREN A: 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. TERWECOREN A
Largest movements
- Cash +€73,797
up €73,797 (+168%), from €44,008 to €117,805
mainly Other debts (+€205,172) and Net result for the year (+€109,648)
- Deferred charges and accrued income -€34,141
down €34,141 (-33.7%), from €101,230 to €67,089
- Intangible fixed assets -€16,963
down €16,963 (-100%), from €16,963 to €0
- Tangible fixed assets -€14,193
down €14,193 (-17.2%), from €82,547 to €68,355
of which Other tangible fixed assets: -€8,549
- Receivables within one year -€7,150
down €7,150 (-82.7%), from €8,650 to €1,500
of which Other amounts receivable: -€6,300
- Other debts +€205,172
up €205,172, from €0 to €205,172
- Reserves -€96,354
down €96,354 (-97.8%), from €98,520 to €2,166
of which Distributable reserves: -€96,354
- Tax, wage and social debts -€62,649
down €62,649 (-100%), from €62,649 to €0
- Debts after one year -€21,130
down €21,130 (-100%), from €21,130 to €0
- Current portion of long-term debt -€20,902
down €20,902 (-49.7%), from €42,032 to €21,130
- Depreciation -€22,286
down €22,286 (-41.7%), from €53,442 to €31,156
- Gross operating margin -€4,956
down €4,956 (-2.8%), from €179,104 to €174,148
- Other operating charges +€3,036
up €3,036 (+222%), from €1,366 to €4,403
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 | €253,399 | €254,749 | +€1,350 | +0.5% |
| Fixed assets | 21/28 | €99,511 | €68,355 | -€31,156 | -31.3% |
| Intangible fixed assets | 21 | €16,963 | €0 | -€16,963 | -100% |
| Tangible fixed assets | 22/27 | €82,547 | €68,355 | -€14,193 | -17.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €12,014 | €6,371 | -€5,644 | -47.0% |
| Other tangible fixed assets | 26 | €70,533 | €61,984 | -€8,549 | -12.1% |
| Current assets | 29/58 | €153,888 | €186,394 | +€32,506 | +21.1% |
| Amounts receivable within one year | 40/41 | €8,650 | €1,500 | -€7,150 | -82.7% |
| Trade receivables | 40 | €850 | €0 | -€850 | -100% |
| Other amounts receivable | 41 | €7,800 | €1,500 | -€6,300 | -80.8% |
| Cash at bank and in hand | 54/58 | €44,008 | €117,805 | +€73,797 | +168% |
| Deferred charges and accrued income | 490/1 | €101,230 | €67,089 | -€34,141 | -33.7% |
| Total equity and liabilities | 10/49 | €253,399 | €254,749 | +€1,350 | +0.5% |
| Equity | 10/15 | €117,120 | €20,766 | -€96,354 | -82.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €98,520 | €2,166 | -€96,354 | -97.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €96,660 | €306 | -€96,354 | -99.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €136,279 | €233,983 | +€97,704 | +71.7% |
| Amounts payable after more than one year | 17 | €21,130 | €0 | -€21,130 | -100% |
| Financial debts | 170/4 | €21,130 | €0 | -€21,130 | -100% |
| Amounts payable within one year | 42/48 | €115,149 | €233,983 | +€118,834 | +103% |
| Current portion of amounts payable after more than one year | 42 | €42,032 | €21,130 | -€20,902 | -49.7% |
| Trade debts | 44 | €10,468 | €7,681 | -€2,787 | -26.6% |
| Suppliers | 440/4 | €10,468 | €7,681 | -€2,787 | -26.6% |
| Taxes, remuneration and social security | 45 | €62,649 | €0 | -€62,649 | -100% |
| Taxes | 450/3 | €62,649 | €0 | -€62,649 | -100% |
| Other amounts payable | 47/48 | €0 | €205,172 | +€205,172 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,442 | €31,156 | -€22,286 | -41.7% |
| Other operating charges | 640/8 | €1,366 | €4,403 | +€3,036 | +222% |
| Gross operating margin | 9900 | €179,104 | €174,148 | -€4,956 | -2.8% |
| Operating profit (loss) | 9901 | €124,296 | €138,590 | +€14,294 | +11.5% |
| Financial income | 75/76B | €490 | €140 | -€350 | -71.4% |
| Recurring financial income | 75 | €490 | €140 | -€350 | -71.4% |
| Financial charges | 65/66B | €768 | €582 | -€185 | -24.1% |
| Recurring financial charges | 65 | €768 | €582 | -€185 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €124,018 | €138,148 | +€14,130 | +11.4% |
| Income taxes | 67/77 | €27,358 | €28,500 | +€1,142 | +4.2% |
| Profit (loss) for the period | 9904 | €96,660 | €109,648 | +€12,988 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €96,660 | €109,648 | +€12,988 | +13.4% |
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 27 October 2026 via checked.be.