TER BREDE: 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 BREDE
Largest movements
- Cash +€82,449
up €82,449 (+279%), from €29,602 to €112,052
mainly Other debts (+€50,688) and Short-term financial debts (+€49,253)
- Receivables within one year -€21,328
down €21,328 (-11.7%), from €182,656 to €161,328
of which Trade receivables: -€21,162
- Intangible fixed assets -€10,703
down €10,703 (-15.3%), from €69,878 to €59,175
- Tangible fixed assets -€9,504
down €9,504 (-22.7%), from €41,915 to €32,411
of which Other tangible fixed assets: -€4,818
- Stocks and contracts +€7,731
up €7,731 (+62.7%), from €12,337 to €20,068
- Reserves -€53,125
down €53,125 (-28.0%), from €190,066 to €136,940
- Other debts +€50,688
up €50,688 (+12,999%), from €390 to €51,078
- Short-term financial debts +€49,253
up €49,253 (+4,142%), from €1,189 to €50,442
- Trade debts -€30,570
down €30,570 (-16.3%), from €187,619 to €157,049
- Profit (loss) carried forward +€29,954
up €29,954 (+58.1%), from -€51,524 to -€21,570
- Gross operating margin +€119,551
up €119,551 (+87.8%), from €136,126 to €255,678
- Staff costs +€35,301
up €35,301 (+24.5%), from €144,070 to €179,371
- Depreciation +€5,600
up €5,600 (+19.4%), from €28,833 to €34,433
- Financial charges -€4,954
down €4,954 (-30.8%), from €16,071 to €11,117
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 | €385,589 | €421,702 | +€36,113 | +9.4% |
| Fixed assets | 21/28 | €111,793 | €91,586 | -€20,207 | -18.1% |
| Intangible fixed assets | 21 | €69,878 | €59,175 | -€10,703 | -15.3% |
| Tangible fixed assets | 22/27 | €41,915 | €32,411 | -€9,504 | -22.7% |
| Plant, machinery and equipment | 23 | €1,755 | €1,355 | -€400 | -22.8% |
| Furniture and vehicles | 24 | €15,170 | €10,885 | -€4,286 | -28.3% |
| Other tangible fixed assets | 26 | €24,990 | €20,171 | -€4,818 | -19.3% |
| Current assets | 29/58 | €273,796 | €330,116 | +€56,320 | +20.6% |
| Stocks and contracts in progress | 3 | €12,337 | €20,068 | +€7,731 | +62.7% |
| Stocks | 30/36 | €12,337 | €20,068 | +€7,731 | +62.7% |
| Amounts receivable within one year | 40/41 | €182,656 | €161,328 | -€21,328 | -11.7% |
| Trade receivables | 40 | €147,195 | €126,033 | -€21,162 | -14.4% |
| Other amounts receivable | 41 | €35,461 | €35,295 | -€166 | -0.5% |
| Current investments | 50/53 | €35,732 | €29,282 | -€6,450 | -18.1% |
| Cash at bank and in hand | 54/58 | €29,602 | €112,052 | +€82,449 | +279% |
| Deferred charges and accrued income | 490/1 | €13,468 | €7,386 | -€6,082 | -45.2% |
| Total equity and liabilities | 10/49 | €385,589 | €421,702 | +€36,113 | +9.4% |
| Equity | 10/15 | €157,134 | €133,962 | -€23,171 | -14.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €190,066 | €136,940 | -€53,125 | -28.0% |
| Distributable reserves | 133 | €190,066 | €136,940 | -€53,125 | -28.0% |
| Profit (loss) carried forward | 14 | -€51,524 | -€21,570 | +€29,954 | +58.1% |
| Amounts payable | 17/49 | €228,455 | €287,740 | +€59,284 | +26.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €228,455 | €286,292 | +€57,836 | +25.3% |
| Current portion of amounts payable after more than one year | 42 | €10,206 | €0 | -€10,206 | -100% |
| Financial debts | 43 | €1,189 | €50,442 | +€49,253 | +4,142% |
| Credit institutions | 430/8 | €1,189 | €50,442 | +€49,253 | +4,142% |
| Trade debts | 44 | €187,619 | €157,049 | -€30,570 | -16.3% |
| Suppliers | 440/4 | €187,619 | €157,049 | -€30,570 | -16.3% |
| Taxes, remuneration and social security | 45 | €29,051 | €27,722 | -€1,329 | -4.6% |
| Taxes | 450/3 | €14,648 | €4,020 | -€10,628 | -72.6% |
| Remuneration and social security | 454/9 | €14,403 | €23,703 | +€9,299 | +64.6% |
| Other amounts payable | 47/48 | €390 | €51,078 | +€50,688 | +12,999% |
| Accrued charges and deferred income | 492/3 | - | €1,448 | +€1,448 | |
| Remuneration, social security and pensions | 62 | €144,070 | €179,371 | +€35,301 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,833 | €34,433 | +€5,600 | +19.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €455 | €632 | +€176 | +38.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €136,126 | €255,678 | +€119,551 | +87.8% |
| Operating profit (loss) | 9901 | -€37,232 | €41,242 | +€78,474 | |
| Financial income | 75/76B | €3,010 | €1,192 | -€1,817 | -60.4% |
| Recurring financial income | 75 | €3,010 | €1,192 | -€1,817 | -60.4% |
| Financial charges | 65/66B | €16,071 | €11,117 | -€4,954 | -30.8% |
| Recurring financial charges | 65 | €16,071 | €11,117 | -€4,954 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | -€50,293 | €31,318 | +€81,610 | |
| Income taxes | 67/77 | €185 | €1,364 | +€1,178 | +636% |
| Profit (loss) for the period | 9904 | -€50,478 | €29,954 | +€80,432 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,478 | €29,954 | +€80,432 |
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 15 October 2026 via checked.be.