TEERLINCK-DAUWE: 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.
TEERLINCK-DAUWE
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Cash -€125,609
down €125,609 (-57.8%), from €217,138 to €91,529
mainly Current investments (-€150,000) and Other debts (-€24,989)
- Tangible fixed assets -€22,278
down €22,278 (-9.7%), from €229,316 to €207,038
of which Land and buildings: -€12,011
- Receivables within one year -€17,596
down €17,596 (-45.0%), from €39,083 to €21,487
of which Trade receivables: -€17,596
- Reserves +€28,527
up €28,527 (+31.1%), from €91,782 to €120,309
of which Distributable reserves: +€28,527
- Other debts -€24,989
down €24,989 (-38.8%), from €64,322 to €39,333
- Debts after one year -€13,427
down €13,427 (-47.4%), from €28,301 to €14,874
- Trade debts -€9,112
down €9,112 (-83.5%), from €10,919 to €1,807
- Depreciation +€4,390
up €4,390 (+24.5%), from €17,888 to €22,278
- Gross operating margin -€2,398
down €2,398 (-2.2%), from €109,213 to €106,815
- Financial income +€1,778
up €1,778 (+167%), from €1,065 to €2,843
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 | €485,835 | €471,094 | -€14,741 | -3.0% |
| Fixed assets | 21/28 | €229,316 | €207,038 | -€22,278 | -9.7% |
| Tangible fixed assets | 22/27 | €229,316 | €207,038 | -€22,278 | -9.7% |
| Land and buildings | 22 | €199,693 | €187,682 | -€12,011 | -6.0% |
| Plant, machinery and equipment | 23 | €273 | - | -€273 | |
| Furniture and vehicles | 24 | €29,350 | €19,356 | -€9,994 | -34.1% |
| Current assets | 29/58 | €256,519 | €264,056 | +€7,537 | +2.9% |
| Amounts receivable within one year | 40/41 | €39,083 | €21,487 | -€17,596 | -45.0% |
| Trade receivables | 40 | €38,878 | €21,282 | -€17,596 | -45.3% |
| Other amounts receivable | 41 | €205 | €205 | = | 0.0% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €217,138 | €91,529 | -€125,609 | -57.8% |
| Deferred charges and accrued income | 490/1 | €298 | €1,040 | +€742 | +249% |
| Total equity and liabilities | 10/49 | €485,835 | €471,094 | -€14,741 | -3.0% |
| Equity | 10/15 | €279,907 | €308,434 | +€28,527 | +10.2% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €91,782 | €120,309 | +€28,527 | +31.1% |
| Tax-exempt reserves | 132 | €13,071 | €13,071 | = | 0.0% |
| Distributable reserves | 133 | €78,711 | €107,238 | +€28,527 | +36.2% |
| Profit (loss) carried forward | 14 | €180,065 | €180,065 | = | 0.0% |
| Provisions and deferred taxes | 16 | €78,359 | €78,359 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €78,359 | €78,359 | = | 0.0% |
| Pensions and similar obligations | 160 | €78,359 | €78,359 | = | 0.0% |
| Amounts payable | 17/49 | €127,569 | €84,301 | -€43,268 | -33.9% |
| Amounts payable after more than one year | 17 | €28,301 | €14,874 | -€13,427 | -47.4% |
| Financial debts | 170/4 | €28,301 | €14,874 | -€13,427 | -47.4% |
| Amounts payable within one year | 42/48 | €99,268 | €69,427 | -€29,841 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €13,141 | €13,427 | +€286 | +2.2% |
| Trade debts | 44 | €10,919 | €1,807 | -€9,112 | -83.5% |
| Suppliers | 440/4 | €10,919 | €1,807 | -€9,112 | -83.5% |
| Taxes, remuneration and social security | 45 | €10,886 | €14,860 | +€3,974 | +36.5% |
| Taxes | 450/3 | €9,523 | €13,449 | +€3,926 | +41.2% |
| Remuneration and social security | 454/9 | €1,363 | €1,411 | +€48 | +3.5% |
| Other amounts payable | 47/48 | €64,322 | €39,333 | -€24,989 | -38.8% |
| Remuneration, social security and pensions | 62 | €24,327 | €24,970 | +€643 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,888 | €22,278 | +€4,390 | +24.5% |
| Other operating charges | 640/8 | €1,981 | €1,751 | -€230 | -11.6% |
| Gross operating margin | 9900 | €109,213 | €106,815 | -€2,398 | -2.2% |
| Operating profit (loss) | 9901 | €65,017 | €57,816 | -€7,201 | -11.1% |
| Financial income | 75/76B | €1,065 | €2,843 | +€1,778 | +167% |
| Recurring financial income | 75 | €1,065 | €2,843 | +€1,778 | +167% |
| Financial charges | 65/66B | €1,336 | €1,001 | -€335 | -25.1% |
| Recurring financial charges | 65 | €1,336 | €1,001 | -€335 | -25.1% |
| Profit (loss) for the period before taxes | 9903 | €64,746 | €59,658 | -€5,088 | -7.9% |
| Income taxes | 67/77 | €12,015 | €11,131 | -€884 | -7.4% |
| Profit (loss) for the period | 9904 | €52,731 | €48,527 | -€4,204 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,731 | €48,527 | -€4,204 | -8.0% |
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 31 October 2026 via checked.be.