TER ZIJDELING: 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 ZIJDELING
Largest movements
- Cash -€1.2m
down €1.2m (-56.2%), from €2.1m to €917,132
mainly Current investments (-€1.1m) and Contributions, distributions and other (-€870,626)
- Current investments +€1.1m
up €1.1m (+39.2%), from €2.7m to €3.8m
- Financial fixed assets -€155,680
down €155,680 (-42.2%), from €368,753 to €213,073
- Tangible fixed assets -€83,183
down €83,183 (-8.4%), from €985,135 to €901,951
of which Land and buildings: -€47,597
- Receivables within one year -€63,382
down €63,382 (-52.7%), from €120,231 to €56,849
of which Trade receivables: -€101,651
- Reserves -€465,457
down €465,457 (-8.7%), from €5.4m to €4.9m
of which Distributable reserves: -€465,457
- Other debts +€410,287
up €410,287 (+74.0%), from €554,811 to €965,098
- Tax, wage and social debts -€345,735
down €345,735 (-99.8%), from €346,304 to €569
of which Taxes: -€342,419
- Financial income -€4.3m
down €4.3m (-87.9%), from €5.0m to €601,126
- Taxes -€380,143
down €380,143 (-85.6%), from €444,231 to €64,088
- Financial charges -€185,703
down €185,703 (-72.7%), from €255,411 to €69,708
- Gross operating margin -€127,990
down €127,990 (-81.6%), from €156,936 to €28,947
- Depreciation -€92,627
down €92,627 (-51.8%), from €178,939 to €86,312
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 | €6,305,302 | €5,897,069 | -€408,233 | -6.5% |
| Fixed assets | 21/28 | €1,353,888 | €1,115,025 | -€238,863 | -17.6% |
| Tangible fixed assets | 22/27 | €985,135 | €901,951 | -€83,183 | -8.4% |
| Land and buildings | 22 | €853,409 | €805,812 | -€47,597 | -5.6% |
| Furniture and vehicles | 24 | €119,913 | €86,147 | -€33,766 | -28.2% |
| Other tangible fixed assets | 26 | €11,813 | €9,993 | -€1,820 | -15.4% |
| Financial fixed assets | 28 | €368,753 | €213,073 | -€155,680 | -42.2% |
| Current assets | 29/58 | €4,951,414 | €4,782,044 | -€169,370 | -3.4% |
| Amounts receivable within one year | 40/41 | €120,231 | €56,849 | -€63,382 | -52.7% |
| Trade receivables | 40 | €101,651 | - | -€101,651 | |
| Other amounts receivable | 41 | €18,580 | €56,849 | +€38,269 | +206% |
| Current investments | 50/53 | €2,735,462 | €3,807,063 | +€1.1m | +39.2% |
| Cash at bank and in hand | 54/58 | €2,092,021 | €917,132 | -€1.2m | -56.2% |
| Deferred charges and accrued income | 490/1 | €3,700 | €1,000 | -€2,701 | -73.0% |
| Total equity and liabilities | 10/49 | €6,305,302 | €5,897,069 | -€408,233 | -6.5% |
| Equity | 10/15 | €5,386,204 | €4,920,747 | -€465,457 | -8.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €5,373,804 | €4,908,347 | -€465,457 | -8.7% |
| Tax-exempt reserves | 132 | €163 | €163 | = | 0.0% |
| Distributable reserves | 133 | €5,373,641 | €4,908,185 | -€465,457 | -8.7% |
| Amounts payable | 17/49 | €919,098 | €976,321 | +€57,223 | +6.2% |
| Amounts payable after more than one year | 17 | €2,745 | €2,745 | = | 0.0% |
| Other amounts payable | 178/9 | €2,745 | €2,745 | = | 0.0% |
| Amounts payable within one year | 42/48 | €911,752 | €970,180 | +€58,429 | +6.4% |
| Trade debts | 44 | €10,637 | €4,514 | -€6,123 | -57.6% |
| Suppliers | 440/4 | €10,637 | €4,514 | -€6,123 | -57.6% |
| Taxes, remuneration and social security | 45 | €346,304 | €569 | -€345,735 | -99.8% |
| Taxes | 450/3 | €342,988 | €569 | -€342,419 | -99.8% |
| Remuneration and social security | 454/9 | €3,316 | - | -€3,316 | |
| Other amounts payable | 47/48 | €554,811 | €965,098 | +€410,287 | +74.0% |
| Accrued charges and deferred income | 492/3 | €4,601 | €3,396 | -€1,205 | -26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €178,939 | €86,312 | -€92,627 | -51.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€12,326 | - | +€12,326 | |
| Other operating charges | 640/8 | €3,352 | €4,796 | +€1,443 | +43.0% |
| Gross operating margin | 9900 | €156,936 | €28,947 | -€127,990 | -81.6% |
| Operating profit (loss) | 9901 | -€13,030 | -€62,161 | -€49,131 | -377% |
| Financial income | 75/76B | €4,950,096 | €601,126 | -€4.3m | -87.9% |
| Recurring financial income | 75 | €4,950,096 | €601,126 | -€4.3m | -87.9% |
| Financial charges | 65/66B | €255,411 | €69,708 | -€185,703 | -72.7% |
| Recurring financial charges | 65 | €255,411 | €69,708 | -€185,703 | -72.7% |
| Profit (loss) for the period before taxes | 9903 | €4,681,655 | €469,257 | -€4.2m | -90.0% |
| Income taxes | 67/77 | €444,231 | €64,088 | -€380,143 | -85.6% |
| Profit (loss) for the period | 9904 | €4,237,425 | €405,169 | -€3.8m | -90.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,237,425 | €405,169 | -€3.8m | -90.4% |
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 25 October 2026 via checked.be.