LES 3 « TER »: 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.
LES 3 « TER »
Largest movements
- Receivables within one year -€45,671
down €45,671 (-78.8%), from €57,957 to €12,285
of which Trade receivables: -€45,671
- Tangible fixed assets +€33,134
up €33,134 (+88.2%), from €37,569 to €70,703
of which Land and buildings: +€23,759
- Cash +€26,941
up €26,941 (+79.3%), from €33,958 to €60,898
mainly Receivables within one year (+€45,671) and Debts after one year (+€17,077)
- Deferred charges and accrued income +€9,306
up €9,306 (+2,769%), from €336 to €9,643
- Debts after one year +€17,077
up €17,077 (+1,436%), from €1,189 to €18,267
- Trade debts +€13,181
up €13,181 (+844%), from €1,562 to €14,744
- Other debts -€7,674
down €7,674 (-8.8%), from €87,220 to €79,547
- Reserves -€3,860
down €3,860 (-15.8%), from €24,360 to €20,500
of which Distributable reserves: -€2,000
- Contributions +€1,860
up €1,860 (+29.5%), from €6,300 to €8,160
- Staff costs -€22,975
down €22,975 (-70.8%), from €32,428 to €9,454
- Gross operating margin -€14,937
down €14,937 (-32.4%), from €46,043 to €31,105
- Taxes +€4,213
up €4,213 (+3,524%), from €120 to €4,333
- Depreciation +€3,963
up €3,963 (+32.2%), from €12,295 to €16,259
- Other operating charges +€561
up €561 (+34.0%), from €1,650 to €2,211
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 | €129,936 | €153,646 | +€23,710 | +18.2% |
| Fixed assets | 21/28 | €37,685 | €70,819 | +€33,134 | +87.9% |
| Tangible fixed assets | 22/27 | €37,569 | €70,703 | +€33,134 | +88.2% |
| Land and buildings | 22 | €4,809 | €28,568 | +€23,759 | +494% |
| Plant, machinery and equipment | 23 | €7,311 | €4,335 | -€2,976 | -40.7% |
| Furniture and vehicles | 24 | €25,448 | €37,799 | +€12,351 | +48.5% |
| Financial fixed assets | 28 | €117 | €117 | = | 0.0% |
| Current assets | 29/58 | €92,251 | €82,826 | -€9,424 | -10.2% |
| Amounts receivable within one year | 40/41 | €57,957 | €12,285 | -€45,671 | -78.8% |
| Trade receivables | 40 | €57,932 | €12,260 | -€45,671 | -78.8% |
| Other amounts receivable | 41 | €25 | €25 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €33,958 | €60,898 | +€26,941 | +79.3% |
| Deferred charges and accrued income | 490/1 | €336 | €9,643 | +€9,306 | +2,769% |
| Total equity and liabilities | 10/49 | €129,936 | €153,646 | +€23,710 | +18.2% |
| Equity | 10/15 | €30,799 | €28,830 | -€1,969 | -6.4% |
| Contributions | 10/11 | €6,300 | €8,160 | +€1,860 | +29.5% |
| Reserves | 13 | €24,360 | €20,500 | -€3,860 | -15.8% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €22,500 | €20,500 | -€2,000 | -8.9% |
| Profit (loss) carried forward | 14 | €139 | €170 | +€31 | +22.2% |
| Amounts payable | 17/49 | €99,137 | €124,816 | +€25,679 | +25.9% |
| Amounts payable after more than one year | 17 | €1,189 | €18,267 | +€17,077 | +1,436% |
| Financial debts | 170/4 | €1,189 | €18,267 | +€17,077 | +1,436% |
| Amounts payable within one year | 42/48 | €97,948 | €106,549 | +€8,601 | +8.8% |
| Current portion of amounts payable after more than one year | 42 | €4,642 | €5,835 | +€1,192 | +25.7% |
| Trade debts | 44 | €1,562 | €14,744 | +€13,181 | +844% |
| Suppliers | 440/4 | €1,562 | €14,744 | +€13,181 | +844% |
| Advances received on contracts in progress | 46 | - | €75 | +€75 | |
| Taxes, remuneration and social security | 45 | €4,523 | €6,349 | +€1,826 | +40.4% |
| Taxes | 450/3 | €992 | €6,349 | +€5,357 | +540% |
| Remuneration and social security | 454/9 | €3,531 | - | -€3,531 | |
| Other amounts payable | 47/48 | €87,220 | €79,547 | -€7,674 | -8.8% |
| Remuneration, social security and pensions | 62 | €32,428 | €9,454 | -€22,975 | -70.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,295 | €16,259 | +€3,963 | +32.2% |
| Other operating charges | 640/8 | €1,650 | €2,211 | +€561 | +34.0% |
| Gross operating margin | 9900 | €46,043 | €31,105 | -€14,937 | -32.4% |
| Operating profit (loss) | 9901 | -€331 | €3,182 | +€3,513 | |
| Financial income | 75/76B | €248 | €84 | -€164 | -66.1% |
| Recurring financial income | 75 | €248 | €84 | -€164 | -66.1% |
| Financial charges | 65/66B | €613 | €902 | +€289 | +47.2% |
| Recurring financial charges | 65 | €613 | €902 | +€289 | +47.2% |
| Profit (loss) for the period before taxes | 9903 | -€696 | €2,364 | +€3,060 | |
| Income taxes | 67/77 | €120 | €4,333 | +€4,213 | +3,524% |
| Profit (loss) for the period | 9904 | -€816 | -€1,969 | -€1,153 | -141% |
| Profit (loss) for the period to be appropriated | 9905 | -€816 | -€1,969 | -€1,153 | -141% |
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 28 October 2026 via checked.be.