TER WAELE: 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 WAELE
Largest movements
- Cash -€4,560
down €4,560 (-7.5%), from €60,581 to €56,020
mainly Net result for the year (-€5,579) and Receivables within one year (-€106)
- Profit (loss) carried forward -€5,579
down €5,579 (-58.0%), from -€9,624 to -€15,203
- Other debts +€1,125
up €1,125 (+15.5%), from €7,243 to €8,368
- Gross operating margin +€3,048
up €3,048 (+40.2%), from -€7,590 to -€4,542
- Depreciation -€1,072
no longer reported in 2025 (was €1,072)
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 | €60,698 | €56,244 | -€4,454 | -7.3% |
| Current assets | 29/58 | €60,698 | €56,244 | -€4,454 | -7.3% |
| Amounts receivable within one year | 40/41 | €117 | €223 | +€106 | +90.6% |
| Other amounts receivable | 41 | €117 | €223 | +€106 | +90.6% |
| Cash at bank and in hand | 54/58 | €60,581 | €56,020 | -€4,560 | -7.5% |
| Total equity and liabilities | 10/49 | €60,698 | €56,244 | -€4,454 | -7.3% |
| Equity | 10/15 | €53,455 | €47,876 | -€5,579 | -10.4% |
| Contributions | 10/11 | €42,142 | €42,142 | = | 0.0% |
| Reserves | 13 | €20,937 | €20,937 | = | 0.0% |
| Distributable reserves | 133 | €20,937 | €20,937 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,624 | -€15,203 | -€5,579 | -58.0% |
| Amounts payable | 17/49 | €7,243 | €8,368 | +€1,125 | +15.5% |
| Amounts payable within one year | 42/48 | €7,243 | €8,368 | +€1,125 | +15.5% |
| Other amounts payable | 47/48 | €7,243 | €8,368 | +€1,125 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,072 | - | -€1,072 | |
| Other operating charges | 640/8 | €844 | €870 | +€26 | +3.1% |
| Gross operating margin | 9900 | -€7,590 | -€4,542 | +€3,048 | +40.2% |
| Operating profit (loss) | 9901 | -€9,506 | -€5,412 | +€4,094 | +43.1% |
| Financial income | 75/76B | €391 | €354 | -€37 | -9.4% |
| Recurring financial income | 75 | €391 | €354 | -€37 | -9.4% |
| Financial charges | 65/66B | €509 | €521 | +€12 | +2.4% |
| Recurring financial charges | 65 | €509 | €521 | +€12 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | -€9,624 | -€5,579 | +€4,045 | +42.0% |
| Profit (loss) for the period | 9904 | -€9,624 | -€5,579 | +€4,045 | +42.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,624 | -€5,579 | +€4,045 | +42.0% |
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 19 October 2026 via checked.be.