Ter Marrem: 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 Marrem
Largest movements
- Tangible fixed assets -€97,544
down €97,544 (-6.0%), from €1.6m to €1.5m
of which Land and buildings: -€83,656
- Cash -€20,199
down €20,199 (-8.7%), from €232,316 to €212,117
mainly Other debts (-€374,886) and Debts after one year (-€31,020)
- Receivables within one year +€20,008
up €20,008 (+167.0%), from €11,982 to €31,990
of which Other amounts receivable: +€29,983
- Other debts -€374,886
down €374,886 (-28.3%), from €1.3m to €949,853
- Profit (loss) carried forward +€210,808
no longer reported in 2025 (was -€210,808)
- Reserves +€124,251
up €124,251 (+185.4%), from €67,000 to €191,251
- Debts after one year -€31,020
down €31,020 (-28.2%), from €109,815 to €78,795
- Gross operating margin +€441,874
up €441,874 (+273.1%), from €161,826 to €603,700
- Taxes +€141,361
up €141,361 (+6271.4%), from €2,254 to €143,615
- Other operating charges +€15,982
up €15,982 (+379.0%), from €4,217 to €20,199
- Depreciation -€13,601
down €13,601 (-10.7%), from €127,180 to €113,580
- Financial income +€6,502
up €6,502 (+35963.8%), from €18 to €6,520
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 | €1,878,813 | €1,782,006 | -€96,808 | -5.2% |
| Fixed assets | 21/28 | €1,626,077 | €1,528,532 | -€97,544 | -6.0% |
| Tangible fixed assets | 22/27 | €1,626,077 | €1,528,532 | -€97,544 | -6.0% |
| Land and buildings | 22 | €1,579,895 | €1,496,238 | -€83,656 | -5.3% |
| Plant, machinery and equipment | 23 | €43,387 | €31,287 | -€12,101 | -27.9% |
| Furniture and vehicles | 24 | €2,795 | €1,007 | -€1,788 | -64.0% |
| Current assets | 29/58 | €252,737 | €253,474 | +€737 | +0.3% |
| Amounts receivable within one year | 40/41 | €11,982 | €31,990 | +€20,008 | +167.0% |
| Trade receivables | 40 | €10,078 | €103 | -€9,975 | -99.0% |
| Other amounts receivable | 41 | €1,903 | €31,887 | +€29,983 | +1575.2% |
| Cash at bank and in hand | 54/58 | €232,316 | €212,117 | -€20,199 | -8.7% |
| Deferred charges and accrued income | 490/1 | €8,439 | €9,366 | +€928 | +11.0% |
| Total equity and liabilities | 10/49 | €1,878,813 | €1,782,006 | -€96,808 | -5.2% |
| Equity | 10/15 | €397,692 | €716,001 | +€318,309 | +80.0% |
| Contributions | 10/11 | €108,500 | €108,500 | = | 0.0% |
| Revaluation surpluses | 12 | €433,000 | €416,250 | -€16,750 | -3.9% |
| Reserves | 13 | €67,000 | €191,251 | +€124,251 | +185.4% |
| Distributable reserves | 133 | €67,000 | €191,251 | +€124,251 | +185.4% |
| Profit (loss) carried forward | 14 | -€210,808 | - | +€210,808 | |
| Amounts payable | 17/49 | €1,481,121 | €1,066,005 | -€415,117 | -28.0% |
| Amounts payable after more than one year | 17 | €109,815 | €78,795 | -€31,020 | -28.2% |
| Financial debts | 170/4 | €109,815 | €78,795 | -€31,020 | -28.2% |
| Amounts payable within one year | 42/48 | €1,371,307 | €987,210 | -€384,097 | -28.0% |
| Current portion of amounts payable after more than one year | 42 | €29,487 | €31,020 | +€1,533 | +5.2% |
| Trade debts | 44 | €14,554 | €2,322 | -€12,232 | -84.0% |
| Suppliers | 440/4 | €14,554 | €2,322 | -€12,232 | -84.0% |
| Taxes, remuneration and social security | 45 | €2,527 | €4,015 | +€1,488 | +58.9% |
| Taxes | 450/3 | €2,527 | €4,015 | +€1,488 | +58.9% |
| Other amounts payable | 47/48 | €1,324,739 | €949,853 | -€374,886 | -28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,180 | €113,580 | -€13,601 | -10.7% |
| Other operating charges | 640/8 | €4,217 | €20,199 | +€15,982 | +379.0% |
| Non-recurring operating charges | 66A | €7,000 | - | -€7,000 | |
| Gross operating margin | 9900 | €161,826 | €603,700 | +€441,874 | +273.1% |
| Operating profit (loss) | 9901 | €23,429 | €469,922 | +€446,493 | +1905.7% |
| Financial income | 75/76B | €18 | €6,520 | +€6,502 | +35963.8% |
| Recurring financial income | 75 | €18 | €6,520 | +€6,502 | +35963.8% |
| Financial charges | 65/66B | €8,281 | €14,517 | +€6,237 | +75.3% |
| Recurring financial charges | 65 | €8,281 | €14,517 | +€6,237 | +75.3% |
| Profit (loss) for the period before taxes | 9903 | €15,166 | €461,925 | +€446,759 | +2945.7% |
| Income taxes | 67/77 | €2,254 | €143,615 | +€141,361 | +6271.4% |
| Profit (loss) for the period | 9904 | €12,912 | €318,309 | +€305,397 | +2365.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,912 | €318,309 | +€305,397 | +2365.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.