Ter Klare: 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 Klare
Largest movements
- Tangible fixed assets +€485,373
up €485,373 (+24.0%), from €2.0m to €2.5m
of which Land and buildings: +€485,814
- Receivables within one year -€34,465
down €34,465 (-44.3%), from €77,815 to €43,349
of which Trade receivables: -€33,463
- Other debts +€185,218
up €185,218 (+240%), from €77,102 to €262,321
- Trade debts +€144,884
up €144,884 (+2,232%), from €6,492 to €151,375
- Debts after one year +€85,434
up €85,434 (+5.1%), from €1.7m to €1.8m
- Tax, wage and social debts -€61,395
down €61,395 (-63.2%), from €97,106 to €35,710
- Current portion of long-term debt +€49,844
up €49,844 (+49.4%), from €100,840 to €150,684
- Gross operating margin -€51,218
down €51,218 (-23.8%), from €215,262 to €164,044
- Other operating charges -€27,868
down €27,868 (-94.7%), from €29,436 to €1,568
- Taxes -€14,138
down €14,138 (-56.7%), from €24,924 to €10,786
- Depreciation +€13,784
up €13,784 (+34.2%), from €40,286 to €54,070
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 | €2,112,075 | €2,555,786 | +€443,711 | +21.0% |
| Fixed assets | 21/28 | €2,026,139 | €2,511,512 | +€485,373 | +24.0% |
| Tangible fixed assets | 22/27 | €2,026,139 | €2,511,512 | +€485,373 | +24.0% |
| Land and buildings | 22 | €2,024,139 | €2,509,953 | +€485,814 | +24.0% |
| Plant, machinery and equipment | 23 | €2,000 | €1,558 | -€442 | -22.1% |
| Current assets | 29/58 | €85,936 | €44,274 | -€41,662 | -48.5% |
| Amounts receivable after more than one year | 29 | €2,000 | - | -€2,000 | |
| Trade receivables | 290 | €2,000 | - | -€2,000 | |
| Amounts receivable within one year | 40/41 | €77,815 | €43,349 | -€34,465 | -44.3% |
| Trade receivables | 40 | €74,511 | €41,048 | -€33,463 | -44.9% |
| Other amounts receivable | 41 | €3,304 | €2,301 | -€1,003 | -30.4% |
| Cash at bank and in hand | 54/58 | €5,520 | €295 | -€5,225 | -94.7% |
| Deferred charges and accrued income | 490/1 | €602 | €630 | +€28 | +4.7% |
| Total equity and liabilities | 10/49 | €2,112,075 | €2,555,786 | +€443,711 | +21.0% |
| Equity | 10/15 | €141,460 | €181,186 | +€39,727 | +28.1% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €126,460 | €166,186 | +€39,727 | +31.4% |
| Distributable reserves | 133 | €126,460 | €166,186 | +€39,727 | +31.4% |
| Amounts payable | 17/49 | €1,970,615 | €2,374,599 | +€403,984 | +20.5% |
| Amounts payable after more than one year | 17 | €1,689,075 | €1,774,509 | +€85,434 | +5.1% |
| Financial debts | 170/4 | €1,689,075 | €1,774,509 | +€85,434 | +5.1% |
| Amounts payable within one year | 42/48 | €281,540 | €600,090 | +€318,550 | +113% |
| Current portion of amounts payable after more than one year | 42 | €100,840 | €150,684 | +€49,844 | +49.4% |
| Trade debts | 44 | €6,492 | €151,375 | +€144,884 | +2,232% |
| Suppliers | 440/4 | €6,492 | €151,375 | +€144,884 | +2,232% |
| Taxes, remuneration and social security | 45 | €97,106 | €35,710 | -€61,395 | -63.2% |
| Taxes | 450/3 | €97,106 | €35,710 | -€61,395 | -63.2% |
| Other amounts payable | 47/48 | €77,102 | €262,321 | +€185,218 | +240% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,286 | €54,070 | +€13,784 | +34.2% |
| Other operating charges | 640/8 | €29,436 | €1,568 | -€27,868 | -94.7% |
| Non-recurring operating charges | 66A | - | €2,000 | +€2,000 | |
| Gross operating margin | 9900 | €215,262 | €164,044 | -€51,218 | -23.8% |
| Operating profit (loss) | 9901 | €145,540 | €106,405 | -€39,134 | -26.9% |
| Financial income | 75/76B | €484 | €272 | -€212 | -43.8% |
| Recurring financial income | 75 | €484 | €272 | -€212 | -43.8% |
| Financial charges | 65/66B | €55,781 | €56,165 | +€384 | +0.7% |
| Recurring financial charges | 65 | €55,781 | €56,165 | +€384 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €90,243 | €50,513 | -€39,730 | -44.0% |
| Income taxes | 67/77 | €24,924 | €10,786 | -€14,138 | -56.7% |
| Profit (loss) for the period | 9904 | €65,319 | €39,727 | -€25,592 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €65,319 | €39,727 | -€25,592 | -39.2% |
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 25 October 2026 via checked.be.