TER DONK: what changed
Two fiscal 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 DONK
Largest movements
- Financial fixed assets +€539,000
up €539,000 (+1782.9%), from €30,231 to €569,231
- Current investments -€410,000
no longer reported in 2025 (was €410,000)
- Cash -€402,033
down €402,033 (-73.1%), from €550,287 to €148,253
mainly Investment in fixed assets (net) (-€539,000) and Other debts (-€195,295)
- Receivables within one year +€163,248
up €163,248 (+158.1%), from €103,243 to €266,491
of which Other amounts receivable: +€148,703
- Stocks and contracts -€61,530
down €61,530 (-26.5%), from €232,150 to €170,619
of which Stocks: -€70,250
- Other debts -€195,295
down €195,295 (-25.3%), from €771,616 to €576,322
- Reserves +€29,600
up €29,600 (+43.6%), from €67,900 to €97,500
of which Distributable reserves: +€29,600
- Gross operating margin -€23,033
down €23,033 (-19.2%), from €119,919 to €96,887
- Financial charges +€10,472
up €10,472 (+33.0%), from €31,690 to €42,163
- Other operating charges +€3,158
up €3,158 (+92.6%), from €3,409 to €6,567
- Taxes -€2,226
down €2,226 (-34.4%), from €6,474 to €4,247
- Financial income +€2,107
up €2,107 (+116.8%), from €1,805 to €3,912
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.
Cash bridge derived
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 | €1,675,523 | €1,490,259 | -€185,263 | -11.1% |
| Fixed assets | 21/28 | €358,200 | €878,988 | +€520,787 | +145.4% |
| Tangible fixed assets | 22/27 | €327,969 | €309,757 | -€18,213 | -5.6% |
| Land and buildings | 22 | €317,348 | €303,277 | -€14,072 | -4.4% |
| Plant, machinery and equipment | 23 | €421 | €65 | -€355 | -84.5% |
| Furniture and vehicles | 24 | €10,201 | €6,415 | -€3,786 | -37.1% |
| Financial fixed assets | 28 | €30,231 | €569,231 | +€539,000 | +1782.9% |
| Current assets | 29/58 | €1,317,322 | €611,271 | -€706,051 | -53.6% |
| Stocks and contracts in progress | 3 | €232,150 | €170,619 | -€61,530 | -26.5% |
| Stocks | 30/36 | €232,150 | €161,900 | -€70,250 | -30.3% |
| Contracts in progress | 37 | - | €8,719 | +€8,719 | |
| Amounts receivable within one year | 40/41 | €103,243 | €266,491 | +€163,248 | +158.1% |
| Trade receivables | 40 | €27,913 | €42,458 | +€14,546 | +52.1% |
| Other amounts receivable | 41 | €75,330 | €224,033 | +€148,703 | +197.4% |
| Current investments | 50/53 | €410,000 | - | -€410,000 | |
| Cash at bank and in hand | 54/58 | €550,287 | €148,253 | -€402,033 | -73.1% |
| Deferred charges and accrued income | 490/1 | €21,643 | €25,907 | +€4,265 | +19.7% |
| Total equity and liabilities | 10/49 | €1,675,523 | €1,490,259 | -€185,263 | -11.1% |
| Equity | 10/15 | €812,407 | €842,016 | +€29,609 | +3.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €67,900 | €97,500 | +€29,600 | +43.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €61,700 | €91,300 | +€29,600 | +48.0% |
| Profit (loss) carried forward | 14 | €682,507 | €682,516 | +€9 | 0.0% |
| Amounts payable | 17/49 | €863,116 | €648,244 | -€214,872 | -24.9% |
| Amounts payable after more than one year | 17 | €25,596 | €12,416 | -€13,180 | -51.5% |
| Financial debts | 170/4 | €25,596 | €12,416 | -€13,180 | -51.5% |
| Amounts payable within one year | 42/48 | €804,415 | €597,047 | -€207,368 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €12,810 | €13,180 | +€370 | +2.9% |
| Trade debts | 44 | €10,994 | €2,744 | -€8,250 | -75.0% |
| Suppliers | 440/4 | €10,994 | €2,744 | -€8,250 | -75.0% |
| Advances received on contracts in progress | 46 | €7,995 | - | -€7,995 | |
| Taxes, remuneration and social security | 45 | €1,000 | €4,802 | +€3,802 | +380.2% |
| Taxes | 450/3 | - | €3,802 | +€3,802 | |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €771,616 | €576,322 | -€195,295 | -25.3% |
| Accrued charges and deferred income | 492/3 | €33,104 | €38,780 | +€5,676 | +17.1% |
| Non-recurring operating income | 76A | €132,070 | - | -€132,070 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,359 | €18,213 | -€147 | -0.8% |
| Other operating charges | 640/8 | €3,409 | €6,567 | +€3,158 | +92.6% |
| Gross operating margin | 9900 | €119,919 | €96,887 | -€23,033 | -19.2% |
| Operating profit (loss) | 9901 | €98,151 | €72,107 | -€26,044 | -26.5% |
| Financial income | 75/76B | €1,805 | €3,912 | +€2,107 | +116.8% |
| Recurring financial income | 75 | €1,805 | €3,912 | +€2,107 | +116.8% |
| Financial charges | 65/66B | €31,690 | €42,163 | +€10,472 | +33.0% |
| Recurring financial charges | 65 | €31,690 | €42,163 | +€10,472 | +33.0% |
| Profit (loss) for the period before taxes | 9903 | €68,265 | €33,856 | -€34,409 | -50.4% |
| Income taxes | 67/77 | €6,474 | €4,247 | -€2,226 | -34.4% |
| Profit (loss) for the period | 9904 | €61,791 | €29,609 | -€32,183 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €61,791 | €29,609 | -€32,183 | -52.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.