Ter Veer: 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 Veer
Largest movements
- Stocks and contracts +€530,179
new in 2025: €530,179
- Tangible fixed assets -€528,647
no longer reported in 2025 (was €528,647)
- Debts after one year +€30,000
new in 2025: €30,000
- Other debts -€12,800
no longer reported in 2025 (was €12,800)
- Reserves -€10,225
down €10,225 (-67.1%), from €15,228 to €5,003
- Depreciation -€8,647
no longer reported in 2025 (was €8,647)
- Gross operating margin -€6,666
down €6,666 (-299%), from -€2,228 to -€8,895
- Other operating charges -€1,012
down €1,012 (-43.2%), from €2,342 to €1,330
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €528,760 | €535,921 | +€7,161 | +1.4% |
| Fixed assets | 21/28 | €528,647 | - | -€528,647 | |
| Tangible fixed assets | 22/27 | €528,647 | - | -€528,647 | |
| Land and buildings | 22 | €528,647 | - | -€528,647 | |
| Current assets | 29/58 | €114 | €535,921 | +€535,808 | +471,496% |
| Stocks and contracts in progress | 3 | - | €530,179 | +€530,179 | |
| Stocks | 30/36 | - | €530,179 | +€530,179 | |
| Cash at bank and in hand | 54/58 | €114 | €5,428 | +€5,314 | +4,676% |
| Deferred charges and accrued income | 490/1 | - | €314 | +€314 | |
| Total equity and liabilities | 10/49 | €528,760 | €535,921 | +€7,161 | +1.4% |
| Equity | 10/15 | €515,228 | €505,003 | -€10,225 | -2.0% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Contributions outside capital | 11 | €500,000 | - | -€500,000 | |
| Other | 1109/19 | €500,000 | - | -€500,000 | |
| Reserves | 13 | €15,228 | €5,003 | -€10,225 | -67.1% |
| Distributable reserves | 133 | €15,228 | €5,003 | -€10,225 | -67.1% |
| Amounts payable | 17/49 | €13,533 | €30,919 | +€17,386 | +128% |
| Amounts payable after more than one year | 17 | - | €30,000 | +€30,000 | |
| Financial debts | 170/4 | - | €30,000 | +€30,000 | |
| Amounts payable within one year | 42/48 | €12,800 | €300 | -€12,500 | -97.7% |
| Trade debts | 44 | - | €300 | +€300 | |
| Suppliers | 440/4 | - | €300 | +€300 | |
| Other amounts payable | 47/48 | €12,800 | - | -€12,800 | |
| Accrued charges and deferred income | 492/3 | €733 | €619 | -€114 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,647 | - | -€8,647 | |
| Other operating charges | 640/8 | €2,342 | €1,330 | -€1,012 | -43.2% |
| Gross operating margin | 9900 | -€2,228 | -€8,895 | -€6,666 | -299% |
| Operating profit (loss) | 9901 | -€13,217 | -€10,225 | +€2,992 | +22.6% |
| Profit (loss) for the period before taxes | 9903 | -€13,217 | -€10,225 | +€2,992 | +22.6% |
| Profit (loss) for the period | 9904 | -€13,217 | -€10,225 | +€2,992 | +22.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,217 | -€10,225 | +€2,992 | +22.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.