TER MAELEN: 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 MAELEN
Largest movements
- Receivables within one year +€58,669
up €58,669 (+53.5%), from €109,720 to €168,388
of which Trade receivables: +€59,231
- Tangible fixed assets -€57,783
down €57,783 (-8.1%), from €713,658 to €655,874
of which Land and buildings: -€59,843
- Cash -€48,689
down €48,689 (-49.1%), from €99,133 to €50,445
mainly Other debts (-€84,455) and Receivables within one year (-€58,669)
- Other debts -€84,455
down €84,455 (-10.6%), from €795,111 to €710,657
- Profit (loss) carried forward +€22,432
up €22,432, from -€18,374 to €4,058
- Gross operating margin +€85,697
up €85,697 (+605%), from €14,156 to €99,853
- Financial income -€4,165
down €4,165 (-100.0%), from €4,165 to €0
- Depreciation -€2,524
down €2,524 (-3.5%), from €71,161 to €68,637
- Taxes +€1,435
up €1,435 (+823%), from €174 to €1,609
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €925,397 | €876,552 | -€48,845 | -5.3% |
| Fixed assets | 21/28 | €713,658 | €655,874 | -€57,783 | -8.1% |
| Tangible fixed assets | 22/27 | €713,658 | €655,874 | -€57,783 | -8.1% |
| Land and buildings | 22 | €674,604 | €614,761 | -€59,843 | -8.9% |
| Plant, machinery and equipment | 23 | €38,713 | €41,113 | +€2,401 | +6.2% |
| Furniture and vehicles | 24 | €341 | €0 | -€341 | -100% |
| Current assets | 29/58 | €211,739 | €220,678 | +€8,939 | +4.2% |
| Amounts receivable within one year | 40/41 | €109,720 | €168,388 | +€58,669 | +53.5% |
| Trade receivables | 40 | €109,158 | €168,388 | +€59,231 | +54.3% |
| Other amounts receivable | 41 | €562 | €0 | -€562 | -100% |
| Cash at bank and in hand | 54/58 | €99,133 | €50,445 | -€48,689 | -49.1% |
| Deferred charges and accrued income | 490/1 | €2,886 | €1,845 | -€1,041 | -36.1% |
| Total equity and liabilities | 10/49 | €925,397 | €876,552 | -€48,845 | -5.3% |
| Equity | 10/15 | €126,856 | €149,289 | +€22,432 | +17.7% |
| Contributions | 10/11 | €120,000 | €120,000 | = | 0.0% |
| Reserves | 13 | €25,230 | €25,230 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €13,230 | €13,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,374 | €4,058 | +€22,432 | |
| Amounts payable | 17/49 | €798,541 | €727,264 | -€71,277 | -8.9% |
| Amounts payable within one year | 42/48 | €798,369 | €726,740 | -€71,629 | -9.0% |
| Trade debts | 44 | €826 | €5,004 | +€4,178 | +506% |
| Suppliers | 440/4 | €826 | €5,004 | +€4,178 | +506% |
| Taxes, remuneration and social security | 45 | €2,432 | €11,079 | +€8,647 | +356% |
| Taxes | 450/3 | €2,432 | €11,079 | +€8,647 | +356% |
| Other amounts payable | 47/48 | €795,111 | €710,657 | -€84,455 | -10.6% |
| Accrued charges and deferred income | 492/3 | €172 | €524 | +€352 | +205% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €71,161 | €68,637 | -€2,524 | -3.5% |
| Other operating charges | 640/8 | €6,500 | €6,821 | +€320 | +4.9% |
| Gross operating margin | 9900 | €14,156 | €99,853 | +€85,697 | +605% |
| Operating profit (loss) | 9901 | -€63,506 | €24,395 | +€87,901 | |
| Financial income | 75/76B | €4,165 | €0 | -€4,165 | -100.0% |
| Recurring financial income | 75 | €4,165 | €0 | -€4,165 | -100.0% |
| Financial charges | 65/66B | €389 | €354 | -€35 | -9.0% |
| Recurring financial charges | 65 | €389 | €354 | -€35 | -9.0% |
| Profit (loss) for the period before taxes | 9903 | -€59,729 | €24,042 | +€83,771 | |
| Income taxes | 67/77 | €174 | €1,609 | +€1,435 | +823% |
| Profit (loss) for the period | 9904 | -€59,903 | €22,432 | +€82,336 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,903 | €22,432 | +€82,336 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.