TER SCULEM: 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 SCULEM
Largest movements
- Cash +€367,378
up €367,378 (+3,023%), from €12,152 to €379,530
mainly Debts after one year (+€490,000) and Depreciation (+€52,571)
- Tangible fixed assets +€193,260
up €193,260 (+22.8%), from €847,003 to €1.0m
of which Land and buildings: +€180,266
- Debts after one year +€490,000
new in 2025: €490,000
- Other debts +€46,025
up €46,025 (+9.2%), from €499,877 to €545,903
- Profit (loss) carried forward +€21,405
up €21,405 (+16.8%), from -€127,534 to -€106,129
- Gross operating margin +€10,851
up €10,851 (+16.3%), from €66,752 to €77,603
- Financial charges -€9,151
down €9,151 (-95.7%), from €9,560 to €409
of which Non-recurring financial charges: -€9,171
- Depreciation +€8,970
up €8,970 (+20.6%), from €43,601 to €52,571
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 | €871,753 | €1,439,127 | +€567,374 | +65.1% |
| Fixed assets | 21/28 | €847,003 | €1,040,263 | +€193,260 | +22.8% |
| Tangible fixed assets | 22/27 | €847,003 | €1,040,263 | +€193,260 | +22.8% |
| Land and buildings | 22 | €790,343 | €970,609 | +€180,266 | +22.8% |
| Plant, machinery and equipment | 23 | €4,570 | €30,632 | +€26,062 | +570% |
| Furniture and vehicles | 24 | €52,090 | €39,021 | -€13,068 | -25.1% |
| Current assets | 29/58 | €24,750 | €398,864 | +€374,114 | +1,512% |
| Amounts receivable within one year | 40/41 | €11,135 | €18,737 | +€7,602 | +68.3% |
| Trade receivables | 40 | €11,098 | €18,737 | +€7,639 | +68.8% |
| Other amounts receivable | 41 | €37 | €0 | -€37 | -100% |
| Cash at bank and in hand | 54/58 | €12,152 | €379,530 | +€367,378 | +3,023% |
| Deferred charges and accrued income | 490/1 | €1,463 | €597 | -€866 | -59.2% |
| Total equity and liabilities | 10/49 | €871,753 | €1,439,127 | +€567,374 | +65.1% |
| Equity | 10/15 | €363,004 | €384,409 | +€21,405 | +5.9% |
| Contributions | 10/11 | €490,538 | €490,538 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,534 | -€106,129 | +€21,405 | +16.8% |
| Amounts payable | 17/49 | €508,749 | €1,054,718 | +€545,969 | +107% |
| Amounts payable after more than one year | 17 | - | €490,000 | +€490,000 | |
| Financial debts | 170/4 | - | €490,000 | +€490,000 | |
| Amounts payable within one year | 42/48 | €508,749 | €564,718 | +€55,969 | +11.0% |
| Trade debts | 44 | €5,978 | €14,935 | +€8,958 | +150% |
| Suppliers | 440/4 | €5,978 | €14,935 | +€8,958 | +150% |
| Taxes, remuneration and social security | 45 | €2,894 | €3,880 | +€986 | +34.1% |
| Taxes | 450/3 | €2,894 | €3,880 | +€986 | +34.1% |
| Other amounts payable | 47/48 | €499,877 | €545,903 | +€46,025 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,601 | €52,571 | +€8,970 | +20.6% |
| Other operating charges | 640/8 | €3,001 | €3,121 | +€120 | +4.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €66,752 | €77,603 | +€10,851 | +16.3% |
| Operating profit (loss) | 9901 | €20,150 | €21,911 | +€1,762 | +8.7% |
| Financial income | 75/76B | €6 | €32 | +€26 | +439% |
| Recurring financial income | 75 | €6 | €32 | +€26 | +439% |
| Financial charges | 65/66B | €9,560 | €409 | -€9,151 | -95.7% |
| Recurring financial charges | 65 | €60 | €80 | +€20 | +33.3% |
| Non-recurring financial charges | 66B | €9,500 | €329 | -€9,171 | -96.5% |
| Profit (loss) for the period before taxes | 9903 | €10,596 | €21,535 | +€10,939 | +103% |
| Income taxes | 67/77 | €116 | €130 | +€14 | +11.8% |
| Profit (loss) for the period | 9904 | €10,479 | €21,405 | +€10,925 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €10,479 | €21,405 | +€10,925 | +104% |
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 13 October 2026 via checked.be.