TERAMEX: 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.
TERAMEX
Largest movements
- Cash -€608,945
down €608,945 (-66.4%), from €917,375 to €308,430
mainly Investment in fixed assets (net) (-€425,016) and Current investments (-€400,000)
- Current investments +€400,000
new in 2025: €400,000
- Tangible fixed assets +€142,631
up €142,631 (+6.6%), from €2.2m to €2.3m
of which Plant, machinery and equipment: +€227,922
- Receivables within one year +€132,142
up €132,142 (+122%), from €107,934 to €240,076
of which Trade receivables: +€91,367
- Reserves -€146,050
down €146,050 (-13.3%), from €1.1m to €954,816
of which Distributable reserves: -€139,000
- Debts after one year +€63,742
up €63,742 (+4.2%), from €1.5m to €1.6m
- Other debts +€61,682
up €61,682 (+41.8%), from €147,402 to €209,084
- Current portion of long-term debt +€59,572
up €59,572 (+32.1%), from €185,812 to €245,384
- Investment grants +€43,584
up €43,584 (+460%), from €9,475 to €53,059
- Gross operating margin -€115,669
down €115,669 (-17.2%), from €674,161 to €558,493
- Staff costs -€59,417
down €59,417 (-26.8%), from €221,781 to €162,365
- Depreciation +€54,879
up €54,879 (+24.1%), from €227,505 to €282,384
- Taxes -€39,263
down €39,263 (-75.6%), from €51,909 to €12,646
- Financial charges +€7,436
up €7,436 (+19.3%), from €38,572 to €46,008
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 | €3,218,132 | €3,282,617 | +€64,485 | +2.0% |
| Fixed assets | 21/28 | €2,164,127 | €2,306,758 | +€142,631 | +6.6% |
| Tangible fixed assets | 22/27 | €2,164,127 | €2,306,758 | +€142,631 | +6.6% |
| Land and buildings | 22 | €1,534,084 | €1,482,015 | -€52,070 | -3.4% |
| Plant, machinery and equipment | 23 | €409,928 | €637,850 | +€227,922 | +55.6% |
| Furniture and vehicles | 24 | €220,115 | €186,894 | -€33,221 | -15.1% |
| Current assets | 29/58 | €1,054,005 | €975,859 | -€78,146 | -7.4% |
| Amounts receivable within one year | 40/41 | €107,934 | €240,076 | +€132,142 | +122% |
| Trade receivables | 40 | €41,548 | €132,916 | +€91,367 | +220% |
| Other amounts receivable | 41 | €66,385 | €107,160 | +€40,775 | +61.4% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €917,375 | €308,430 | -€608,945 | -66.4% |
| Deferred charges and accrued income | 490/1 | €28,696 | €27,353 | -€1,343 | -4.7% |
| Total equity and liabilities | 10/49 | €3,218,132 | €3,282,617 | +€64,485 | +2.0% |
| Equity | 10/15 | €1,187,145 | €1,085,073 | -€102,072 | -8.6% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €1,100,866 | €954,816 | -€146,050 | -13.3% |
| Tax-exempt reserves | 132 | €182,866 | €175,816 | -€7,050 | -3.9% |
| Distributable reserves | 133 | €918,000 | €779,000 | -€139,000 | -15.1% |
| Profit (loss) carried forward | 14 | €6,805 | €7,198 | +€393 | +5.8% |
| Investment grants | 15 | €9,475 | €53,059 | +€43,584 | +460% |
| Provisions and deferred taxes | 16 | €9,257 | €6,860 | -€2,397 | -25.9% |
| Deferred taxes | 168 | €9,257 | €6,860 | -€2,397 | -25.9% |
| Amounts payable | 17/49 | €2,021,730 | €2,190,685 | +€168,954 | +8.4% |
| Amounts payable after more than one year | 17 | €1,501,539 | €1,565,281 | +€63,742 | +4.2% |
| Financial debts | 170/4 | €1,501,539 | €1,565,281 | +€63,742 | +4.2% |
| Amounts payable within one year | 42/48 | €520,191 | €624,203 | +€104,012 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €185,812 | €245,384 | +€59,572 | +32.1% |
| Trade debts | 44 | €149,967 | €143,478 | -€6,490 | -4.3% |
| Suppliers | 440/4 | €149,967 | €143,478 | -€6,490 | -4.3% |
| Taxes, remuneration and social security | 45 | €37,010 | €26,257 | -€10,753 | -29.1% |
| Taxes | 450/3 | €24,161 | €13,219 | -€10,942 | -45.3% |
| Remuneration and social security | 454/9 | €12,849 | €13,038 | +€190 | +1.5% |
| Other amounts payable | 47/48 | €147,402 | €209,084 | +€61,682 | +41.8% |
| Accrued charges and deferred income | 492/3 | - | €1,200 | +€1,200 | |
| Non-recurring operating income | 76A | €28,000 | €54,000 | +€26,000 | +92.9% |
| Remuneration, social security and pensions | 62 | €221,781 | €162,365 | -€59,417 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €227,505 | €282,384 | +€54,879 | +24.1% |
| Other operating charges | 640/8 | €17,654 | €18,915 | +€1,261 | +7.1% |
| Non-recurring operating charges | 66A | €11,068 | - | -€11,068 | |
| Gross operating margin | 9900 | €674,161 | €558,493 | -€115,669 | -17.2% |
| Operating profit (loss) | 9901 | €196,154 | €94,829 | -€101,325 | -51.7% |
| Financial income | 75/76B | €9,312 | €15,772 | +€6,460 | +69.4% |
| Recurring financial income | 75 | €9,312 | €15,772 | +€6,460 | +69.4% |
| Financial charges | 65/66B | €38,572 | €46,008 | +€7,436 | +19.3% |
| Recurring financial charges | 65 | €38,572 | €46,008 | +€7,436 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €166,894 | €64,592 | -€102,302 | -61.3% |
| Transfer from deferred taxes | 780 | €3,863 | €2,397 | -€1,466 | -38.0% |
| Income taxes | 67/77 | €51,909 | €12,646 | -€39,263 | -75.6% |
| Profit (loss) for the period | 9904 | €118,848 | €54,343 | -€64,505 | -54.3% |
| Transfer from tax-exempt reserves | 789 | €84,320 | €7,050 | -€77,270 | -91.6% |
| Transfer to tax-exempt reserves | 689 | €77,885 | - | -€77,885 | |
| Profit (loss) for the period to be appropriated | 9905 | €125,283 | €61,393 | -€63,890 | -51.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.