TER HEYDE: 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 HEYDE
Largest movements
- Current investments +€100,000
new in 2025: €100,000
- Cash -€26,859
down €26,859 (-20.9%), from €128,626 to €101,767
mainly Current investments (-€100,000) and Investment in fixed assets (net) (-€33,682)
- Tangible fixed assets +€14,588
up €14,588 (+12.1%), from €120,838 to €135,427
of which Plant, machinery and equipment: +€7,680
- Receivables within one year -€12,100
down €12,100 (-98.4%), from €12,300 to €200
of which Trade receivables: -€11,900
- Reserves +€40,296
up €40,296 (+41.5%), from €97,058 to €137,354
of which Distributable reserves: +€40,296
- Trade debts +€22,852
up €22,852 (+2013.3%), from €1,135 to €23,987
- Tax, wage and social debts +€6,418
up €6,418 (+129.5%), from €4,954 to €11,372
- Accrued charges and deferred income +€4,815
up €4,815 (+13.2%), from €36,340 to €41,155
- Gross operating margin +€8,389
up €8,389 (+13.9%), from €60,449 to €68,838
- Other operating charges -€3,011
down €3,011 (-88.3%), from €3,411 to €400
- Taxes +€1,025
up €1,025 (+32.2%), from €3,181 to €4,205
- Depreciation +€757
up €757 (+4.1%), from €18,336 to €19,093
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 | €264,711 | €340,340 | +€75,629 | +28.6% |
| Fixed assets | 21/28 | €120,838 | €135,427 | +€14,588 | +12.1% |
| Tangible fixed assets | 22/27 | €120,838 | €135,427 | +€14,588 | +12.1% |
| Land and buildings | 22 | €116,083 | €122,992 | +€6,909 | +6.0% |
| Plant, machinery and equipment | 23 | €4,755 | €12,435 | +€7,680 | +161.5% |
| Current assets | 29/58 | €143,873 | €204,914 | +€61,041 | +42.4% |
| Stocks and contracts in progress | 3 | €2,947 | €2,947 | = | 0.0% |
| Stocks | 30/36 | €2,947 | €2,947 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,300 | €200 | -€12,100 | -98.4% |
| Trade receivables | 40 | €12,100 | €200 | -€11,900 | -98.3% |
| Other amounts receivable | 41 | €200 | - | -€200 | |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €128,626 | €101,767 | -€26,859 | -20.9% |
| Total equity and liabilities | 10/49 | €264,711 | €340,340 | +€75,629 | +28.6% |
| Equity | 10/15 | €154,276 | €194,571 | +€40,296 | +26.1% |
| 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 | €97,058 | €137,354 | +€40,296 | +41.5% |
| Non-distributable reserves | 130/1 | €9,432 | €9,432 | = | 0.0% |
| Legal reserve | 130 | €9,432 | €9,432 | = | 0.0% |
| Distributable reserves | 133 | €87,626 | €127,922 | +€40,296 | +46.0% |
| Profit (loss) carried forward | 14 | -€4,783 | -€4,783 | = | 0.0% |
| Amounts payable | 17/49 | €110,435 | €145,769 | +€35,334 | +32.0% |
| Amounts payable within one year | 42/48 | €74,095 | €104,614 | +€30,519 | +41.2% |
| Financial debts | 43 | €68,007 | €69,256 | +€1,249 | +1.8% |
| Other loans | 439 | €68,007 | €69,256 | +€1,249 | +1.8% |
| Trade debts | 44 | €1,135 | €23,987 | +€22,852 | +2013.3% |
| Suppliers | 440/4 | €1,135 | €23,987 | +€22,852 | +2013.3% |
| Taxes, remuneration and social security | 45 | €4,954 | €11,372 | +€6,418 | +129.5% |
| Taxes | 450/3 | €4,954 | €11,372 | +€6,418 | +129.5% |
| Accrued charges and deferred income | 492/3 | €36,340 | €41,155 | +€4,815 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,336 | €19,093 | +€757 | +4.1% |
| Other operating charges | 640/8 | €3,411 | €400 | -€3,011 | -88.3% |
| Gross operating margin | 9900 | €60,449 | €68,838 | +€8,389 | +13.9% |
| Operating profit (loss) | 9901 | €38,702 | €49,344 | +€10,642 | +27.5% |
| Financial income | 75/76B | €11 | €11 | +€0 | +0.2% |
| Recurring financial income | 75 | €11 | €11 | +€0 | +0.2% |
| Financial charges | 65/66B | €5,467 | €4,855 | -€612 | -11.2% |
| Recurring financial charges | 65 | €5,467 | €4,855 | -€612 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €33,246 | €44,501 | +€11,255 | +33.9% |
| Income taxes | 67/77 | €3,181 | €4,205 | +€1,025 | +32.2% |
| Profit (loss) for the period | 9904 | €30,065 | €40,296 | +€10,230 | +34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,065 | €40,296 | +€10,230 | +34.0% |
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 4 October 2026 via checked.be.