TERATO: 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.
TERATO
Largest movements
- Stocks and contracts +€274,083
up €274,083 (+59.6%), from €459,902 to €733,985
- Cash -€101,742
down €101,742 (-79.2%), from €128,433 to €26,691
mainly Stocks and contracts (-€274,083) and Receivables within one year (-€26,294)
- Receivables within one year +€26,294
up €26,294 (+42.1%), from €62,495 to €88,789
of which Trade receivables: +€22,893
- Intangible fixed assets -€20,989
down €20,989 (-27.1%), from €77,521 to €56,532
- Short-term financial debts +€95,627
up €95,627 (+22,527%), from €424 to €96,051
of which Credit institutions: +€95,000
- Trade debts +€72,817
up €72,817 (+340%), from €21,405 to €94,223
- Tax, wage and social debts +€10,585
up €10,585 (+142%), from €7,430 to €18,015
of which Remuneration and social security: +€10,150
- Profit (loss) carried forward +€10,426
up €10,426 (+20.5%), from €50,931 to €61,357
- Financial charges +€29,547
up €29,547 (+141%), from €20,992 to €50,539
- Financial income +€27,198
up €27,198 (+3,485%), from €780 to €27,979
- Gross operating margin -€24,178
down €24,178 (-11.9%), from €202,891 to €178,713
- Other operating charges +€5,347
up €5,347 (+189%), from €2,827 to €8,173
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 | €759,553 | €939,588 | +€180,035 | +23.7% |
| Fixed assets | 21/28 | €108,549 | €86,265 | -€22,284 | -20.5% |
| Intangible fixed assets | 21 | €77,521 | €56,532 | -€20,989 | -27.1% |
| Tangible fixed assets | 22/27 | €31,028 | €29,733 | -€1,295 | -4.2% |
| Plant, machinery and equipment | 23 | €12,475 | €14,246 | +€1,771 | +14.2% |
| Furniture and vehicles | 24 | €18,553 | €11,182 | -€7,371 | -39.7% |
| Assets under construction and advance payments | 27 | - | €4,304 | +€4,304 | |
| Current assets | 29/58 | €651,004 | €853,323 | +€202,319 | +31.1% |
| Stocks and contracts in progress | 3 | €459,902 | €733,985 | +€274,083 | +59.6% |
| Stocks | 30/36 | €459,902 | €733,985 | +€274,083 | +59.6% |
| Amounts receivable within one year | 40/41 | €62,495 | €88,789 | +€26,294 | +42.1% |
| Trade receivables | 40 | €54,468 | €77,361 | +€22,893 | +42.0% |
| Other amounts receivable | 41 | €8,027 | €11,428 | +€3,401 | +42.4% |
| Cash at bank and in hand | 54/58 | €128,433 | €26,691 | -€101,742 | -79.2% |
| Deferred charges and accrued income | 490/1 | €174 | €3,858 | +€3,685 | +2,123% |
| Total equity and liabilities | 10/49 | €759,553 | €939,588 | +€180,035 | +23.7% |
| Equity | 10/15 | €569,531 | €579,957 | +€10,426 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €500,000 | €500,000 | = | 0.0% |
| Distributable reserves | 133 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,931 | €61,357 | +€10,426 | +20.5% |
| Amounts payable | 17/49 | €190,021 | €359,631 | +€169,609 | +89.3% |
| Amounts payable after more than one year | 17 | €10,330 | €5,839 | -€4,491 | -43.5% |
| Financial debts | 170/4 | €10,330 | €5,839 | -€4,491 | -43.5% |
| Amounts payable within one year | 42/48 | €165,391 | €344,465 | +€179,074 | +108% |
| Current portion of amounts payable after more than one year | 42 | €4,337 | €4,491 | +€154 | +3.6% |
| Financial debts | 43 | €424 | €96,051 | +€95,627 | +22,527% |
| Credit institutions | 430/8 | - | €95,000 | +€95,000 | |
| Other loans | 439 | €424 | €1,051 | +€627 | +148% |
| Trade debts | 44 | €21,405 | €94,223 | +€72,817 | +340% |
| Suppliers | 440/4 | €21,405 | €94,223 | +€72,817 | +340% |
| Taxes, remuneration and social security | 45 | €7,430 | €18,015 | +€10,585 | +142% |
| Taxes | 450/3 | €6,975 | €7,410 | +€435 | +6.2% |
| Remuneration and social security | 454/9 | €455 | €10,605 | +€10,150 | +2,231% |
| Other amounts payable | 47/48 | €131,795 | €131,685 | -€110 | -0.1% |
| Accrued charges and deferred income | 492/3 | €14,301 | €9,327 | -€4,973 | -34.8% |
| Remuneration, social security and pensions | 62 | €104,559 | €103,367 | -€1,193 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,163 | €34,187 | +€2,024 | +6.3% |
| Other operating charges | 640/8 | €2,827 | €8,173 | +€5,347 | +189% |
| Gross operating margin | 9900 | €202,891 | €178,713 | -€24,178 | -11.9% |
| Operating profit (loss) | 9901 | €63,343 | €32,986 | -€30,357 | -47.9% |
| Financial income | 75/76B | €780 | €27,979 | +€27,198 | +3,485% |
| Recurring financial income | 75 | €780 | €27,979 | +€27,198 | +3,485% |
| Financial charges | 65/66B | €20,992 | €50,539 | +€29,547 | +141% |
| Recurring financial charges | 65 | €20,992 | €50,539 | +€29,547 | +141% |
| Profit (loss) for the period before taxes | 9903 | €43,131 | €10,426 | -€32,705 | -75.8% |
| Profit (loss) for the period | 9904 | €43,131 | €10,426 | -€32,705 | -75.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,131 | €10,426 | -€32,705 | -75.8% |
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 21 October 2026 via checked.be.