TERA RENBOUW: what changed
TERA RENBOUW
Largest movements
- Receivables within one year +€371,305
up €371,305 (+428%), from €86,760 to €458,065
of which Trade receivables: +€338,444
- Tangible fixed assets +€29,989
up €29,989 (+1,790%), from €1,675 to €31,664
of which Furniture and vehicles: +€25,898
- Intangible fixed assets -€19,229
down €19,229 (-61.6%), from €31,229 to €12,000
- Cash -€9,244
no longer reported in 2025 (was €9,244)
mainly Receivables within one year (-€371,305) and Investment in fixed assets (net) (-€24,010)
- Trade debts +€289,333
up €289,333 (+597%), from €48,450 to €337,783
- Short-term financial debts +€27,440
new in 2025: €27,440
- Profit (loss) carried forward +€21,554
up €21,554 (+35.4%), from €60,885 to €82,439
- Debts after one year +€19,854
new in 2025: €19,854
- Advances received +€6,638
new in 2025: €6,638
- Purchases and services +€584,568
up €584,568 (+82.9%), from €704,937 to €1.3m
- Gross operating margin -€36,176
down €36,176 (-28.2%), from €128,155 to €91,980
- Depreciation +€9,519
up €9,519 (+2,718%), from €350 to €9,870
- Taxes -€8,005
down €8,005 (-53.4%), from €15,000 to €6,995
- Staff costs +€3,972
up €3,972 (+12.8%), from €31,154 to €35,126
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €130,144 | €507,417 | +€377,273 | +290% |
| Fixed assets | 21/28 | €32,904 | €47,044 | +€14,141 | +43.0% |
| Intangible fixed assets | 21 | €31,229 | €12,000 | -€19,229 | -61.6% |
| Tangible fixed assets | 22/27 | €1,675 | €31,664 | +€29,989 | +1,790% |
| Plant, machinery and equipment | 23 | €1,675 | €5,766 | +€4,091 | +244% |
| Furniture and vehicles | 24 | - | €25,898 | +€25,898 | |
| Financial fixed assets | 28 | - | €3,380 | +€3,380 | |
| Current assets | 29/58 | €97,240 | €460,372 | +€363,132 | +373% |
| Amounts receivable within one year | 40/41 | €86,760 | €458,065 | +€371,305 | +428% |
| Trade receivables | 40 | €47,208 | €385,652 | +€338,444 | +717% |
| Other amounts receivable | 41 | €39,552 | €72,413 | +€32,861 | +83.1% |
| Cash at bank and in hand | 54/58 | €9,244 | - | -€9,244 | |
| Deferred charges and accrued income | 490/1 | €1,236 | €2,307 | +€1,071 | +86.7% |
| Total equity and liabilities | 10/49 | €130,144 | €507,417 | +€377,273 | +290% |
| Equity | 10/15 | €60,885 | €83,939 | +€23,054 | +37.9% |
| Contributions | 10/11 | - | €1,500 | +€1,500 | |
| Profit (loss) carried forward | 14 | €60,885 | €82,439 | +€21,554 | +35.4% |
| Amounts payable | 17/49 | €69,259 | €423,478 | +€354,219 | +511% |
| Amounts payable after more than one year | 17 | - | €19,854 | +€19,854 | |
| Financial debts | 170/4 | - | €19,854 | +€19,854 | |
| Amounts payable within one year | 42/48 | €69,259 | €403,624 | +€334,366 | +483% |
| Current portion of amounts payable after more than one year | 42 | - | €5,726 | +€5,726 | |
| Financial debts | 43 | - | €27,440 | +€27,440 | |
| Credit institutions | 430/8 | - | €27,440 | +€27,440 | |
| Trade debts | 44 | €48,450 | €337,783 | +€289,333 | +597% |
| Suppliers | 440/4 | €48,450 | €337,783 | +€289,333 | +597% |
| Advances received on contracts in progress | 46 | - | €6,638 | +€6,638 | |
| Taxes, remuneration and social security | 45 | €19,950 | €25,204 | +€5,255 | +26.3% |
| Taxes | 450/3 | €16,983 | €24,653 | +€7,670 | +45.2% |
| Remuneration and social security | 454/9 | €2,967 | €551 | -€2,416 | -81.4% |
| Other amounts payable | 47/48 | €859 | €833 | -€26 | -3.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €704,937 | €1,289,506 | +€584,568 | +82.9% |
| Remuneration, social security and pensions | 62 | €31,154 | €35,126 | +€3,972 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €350 | €9,870 | +€9,519 | +2,718% |
| Other operating charges | 640/8 | €1,244 | €2,132 | +€888 | +71.4% |
| Gross operating margin | 9900 | €128,155 | €91,980 | -€36,176 | -28.2% |
| Operating profit (loss) | 9901 | €95,407 | €44,852 | -€50,555 | -53.0% |
| Financial income | 75/76B | €1,369 | €2,310 | +€940 | +68.7% |
| Recurring financial income | 75 | €1,369 | €2,310 | +€940 | +68.7% |
| Financial charges | 65/66B | €20,033 | €17,779 | -€2,253 | -11.2% |
| Recurring financial charges | 65 | €20,033 | €17,779 | -€2,253 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €76,744 | €29,382 | -€47,362 | -61.7% |
| Income taxes | 67/77 | €15,000 | €6,995 | -€8,005 | -53.4% |
| Profit (loss) for the period | 9904 | €61,744 | €22,387 | -€39,357 | -63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €61,744 | €22,387 | -€39,357 | -63.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.