Ter Borght: 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.
Ter Borght
Largest movements
- Cash -€62,482
down €62,482 (-51.6%), from €121,036 to €58,553
mainly Investment in fixed assets (net) (-€74,314) and Receivables within one year (-€24,648)
- Tangible fixed assets +€29,610
up €29,610 (+2.0%), from €1.5m to €1.5m
of which Plant, machinery and equipment: +€31,242
- Receivables within one year +€24,648
up €24,648 (+135%), from €18,225 to €42,873
of which Other amounts receivable: +€23,390
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€62,614
down €62,614 (-59.5%), from €105,200 to €42,586
- Depreciation -€8,412
down €8,412 (-15.8%), from €53,115 to €44,703
- Financial charges -€1,770
down €1,770 (-75.7%), from €2,340 to €570
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 | €1,674,996 | €1,677,175 | +€2,179 | +0.1% |
| Fixed assets | 21/28 | €1,524,501 | €1,554,111 | +€29,610 | +1.9% |
| Tangible fixed assets | 22/27 | €1,502,287 | €1,531,897 | +€29,610 | +2.0% |
| Land and buildings | 22 | €1,502,286 | €1,500,653 | -€1,632 | -0.1% |
| Plant, machinery and equipment | 23 | - | €31,242 | +€31,242 | |
| Furniture and vehicles | 24 | €1 | €1 | = | 0.0% |
| Financial fixed assets | 28 | €22,214 | €22,214 | = | 0.0% |
| Current assets | 29/58 | €150,495 | €123,064 | -€27,431 | -18.2% |
| Amounts receivable within one year | 40/41 | €18,225 | €42,873 | +€24,648 | +135% |
| Trade receivables | 40 | - | €1,258 | +€1,258 | |
| Other amounts receivable | 41 | €18,225 | €41,614 | +€23,390 | +128% |
| Current investments | 50/53 | €1,644 | €2,863 | +€1,219 | +74.2% |
| Cash at bank and in hand | 54/58 | €121,036 | €58,553 | -€62,482 | -51.6% |
| Deferred charges and accrued income | 490/1 | €9,591 | €18,775 | +€9,184 | +95.8% |
| Total equity and liabilities | 10/49 | €1,674,996 | €1,677,175 | +€2,179 | +0.1% |
| Equity | 10/15 | €1,674,995 | €1,667,788 | -€7,207 | -0.4% |
| Contributions | 10/11 | €1,534,720 | €1,534,720 | = | 0.0% |
| Capital | 10 | €1,534,720 | €1,534,720 | = | 0.0% |
| Issued capital | 100 | €1,534,720 | €1,534,720 | = | 0.0% |
| Reserves | 13 | €140,275 | €133,068 | -€7,207 | -5.1% |
| Non-distributable reserves | 130/1 | €7,338 | €7,338 | = | 0.0% |
| Legal reserve | 130 | €7,338 | €7,338 | = | 0.0% |
| Distributable reserves | 133 | €132,937 | €125,730 | -€7,207 | -5.4% |
| Amounts payable | 17/49 | €1 | €9,387 | +€9,386 | +938,578% |
| Amounts payable within one year | 42/48 | €1 | €9,387 | +€9,386 | +938,578% |
| Trade debts | 44 | - | €9,386 | +€9,386 | |
| Suppliers | 440/4 | - | €9,386 | +€9,386 | |
| Other amounts payable | 47/48 | €1 | €1 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,115 | €44,703 | -€8,412 | -15.8% |
| Other operating charges | 640/8 | €6,137 | €6,545 | +€408 | +6.7% |
| Gross operating margin | 9900 | €105,200 | €42,586 | -€62,614 | -59.5% |
| Operating profit (loss) | 9901 | €45,948 | -€8,662 | -€54,610 | |
| Financial income | 75/76B | €2,736 | €2,025 | -€711 | -26.0% |
| Recurring financial income | 75 | €2,736 | €2,025 | -€711 | -26.0% |
| Financial charges | 65/66B | €2,340 | €570 | -€1,770 | -75.7% |
| Recurring financial charges | 65 | €2,340 | €570 | -€1,770 | -75.7% |
| Profit (loss) for the period before taxes | 9903 | €46,345 | -€7,207 | -€53,551 | |
| Profit (loss) for the period | 9904 | €46,345 | -€7,207 | -€53,551 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,345 | -€7,207 | -€53,551 |
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 24 October 2026 via checked.be.