TERBEKEN: 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.
What changed
TERBEKEN
NACE 47.554, Retail trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€114,694
2024 · €143,801-€29,107
Equity
€2.3m
2024 · €2.3m-€5,475
Cash
€901,490
2024 · €882,156+€19,334
Balance sheet total
€3.7m
2024 · €4.0m-€248,222
Largest movements
Assets
- Stocks and contracts -€139,921
down €139,921 (-7.0%), from €2.0m to €1.9m
- Tangible fixed assets -€97,634
down €97,634 (-10.1%), from €963,310 to €865,675
of which Furniture and vehicles: -€56,346
Equity and liabilities
- Trade debts -€136,163
down €136,163 (-76.5%), from €178,042 to €41,879
- Debts after one year -€103,459
down €103,459 (-9.6%), from €1.1m to €978,315
Income statement
- Gross operating margin -€17,550
down €17,550 (-1.8%), from €989,331 to €971,780
- Taxes -€10,038
down €10,038 (-18.9%), from €53,033 to €42,995
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.
Result 2024
€143,801
Gross operating margin
-€17,550
Staff costs
-€5,534
Depreciation
-€4,115
Write-downs
+€3,162
Other operating charges
-€8,460
Financial income
+€2,359
Financial charges
-€9,006
Taxes
+€10,038
Result 2025
€114,694
raises the resultlowers the result
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.
From operations
+€244,950
Investment
-€3,081
Financing
-€222,535
Cash 2024
€882,156
From operations (derived)
+€244,950
Net result for the year
+€114,694
Depreciation
+€100,715
Stocks and contracts
+€139,921
Receivables within one year
+€29,254
Deferred charges and accrued income
+€747
Trade debts
-€136,163
Tax, wage and social debts
-€7,899
Advances received
+€3,682
Investment (derived)
-€3,081
Investment in fixed assets (net)
-€3,081
Financing
-€222,535
Debts after one year
-€103,459
Current portion of long-term debt
+€1,092
Contributions, distributions and other
-€120,168
Cash 2025
€901,490
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,976,077 | €3,727,855 | -€248,222 | -6.2% |
| Fixed assets | 21/28 | €973,845 | €876,211 | -€97,634 | -10.0% |
| Tangible fixed assets | 22/27 | €963,310 | €865,675 | -€97,634 | -10.1% |
| Land and buildings | 22 | €790,680 | €747,420 | -€43,260 | -5.5% |
| Plant, machinery and equipment | 23 | €3,999 | €5,970 | +€1,971 | +49.3% |
| Furniture and vehicles | 24 | €168,630 | €112,285 | -€56,346 | -33.4% |
| Financial fixed assets | 28 | €10,536 | €10,536 | = | 0.0% |
| Current assets | 29/58 | €3,002,232 | €2,851,644 | -€150,587 | -5.0% |
| Stocks and contracts in progress | 3 | €2,001,856 | €1,861,935 | -€139,921 | -7.0% |
| Stocks | 30/36 | €2,001,856 | €1,861,935 | -€139,921 | -7.0% |
| Amounts receivable within one year | 40/41 | €113,091 | €83,837 | -€29,254 | -25.9% |
| Trade receivables | 40 | €20,407 | €7,888 | -€12,519 | -61.3% |
| Other amounts receivable | 41 | €92,683 | €75,949 | -€16,735 | -18.1% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €882,156 | €901,490 | +€19,334 | +2.2% |
| Deferred charges and accrued income | 490/1 | €5,129 | €4,383 | -€747 | -14.6% |
| Total equity and liabilities | 10/49 | €3,976,077 | €3,727,855 | -€248,222 | -6.2% |
| Equity | 10/15 | €2,258,317 | €2,252,843 | -€5,475 | -0.2% |
| Contributions | 10/11 | €620,000 | €620,000 | = | 0.0% |
| Capital | 10 | €620,000 | €620,000 | = | 0.0% |
| Issued capital | 100 | €620,000 | €620,000 | = | 0.0% |
| Reserves | 13 | €180,942 | €180,942 | = | 0.0% |
| Non-distributable reserves | 130/1 | €62,000 | €62,000 | = | 0.0% |
| Legal reserve | 130 | €62,000 | €62,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €118,942 | €118,942 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,445,032 | €1,439,557 | -€5,475 | -0.4% |
| Investment grants | 15 | €12,344 | €12,344 | = | 0.0% |
| Amounts payable | 17/49 | €1,717,760 | €1,475,013 | -€242,747 | -14.1% |
| Amounts payable after more than one year | 17 | €1,081,774 | €978,315 | -€103,459 | -9.6% |
| Financial debts | 170/4 | €1,081,774 | €978,315 | -€103,459 | -9.6% |
| Amounts payable within one year | 42/48 | €627,698 | €488,411 | -€139,288 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €110,861 | €111,953 | +€1,092 | +1.0% |
| Trade debts | 44 | €178,042 | €41,879 | -€136,163 | -76.5% |
| Suppliers | 440/4 | €178,042 | €41,879 | -€136,163 | -76.5% |
| Advances received on contracts in progress | 46 | €127,165 | €130,847 | +€3,682 | +2.9% |
| Taxes, remuneration and social security | 45 | €211,631 | €203,732 | -€7,899 | -3.7% |
| Taxes | 450/3 | €54,197 | €56,938 | +€2,741 | +5.1% |
| Remuneration and social security | 454/9 | €157,434 | €146,794 | -€10,640 | -6.8% |
| Accrued charges and deferred income | 492/3 | €8,288 | €8,288 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €663,499 | €669,033 | +€5,534 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,600 | €100,715 | +€4,115 | +4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,322 | -€840 | -€3,162 | |
| Other operating charges | 640/8 | €59,762 | €68,223 | +€8,460 | +14.2% |
| Gross operating margin | 9900 | €989,331 | €971,780 | -€17,550 | -1.8% |
| Operating profit (loss) | 9901 | €167,147 | €134,649 | -€32,498 | -19.4% |
| Financial income | 75/76B | €64,305 | €66,664 | +€2,359 | +3.7% |
| Recurring financial income | 75 | €64,305 | €66,664 | +€2,359 | +3.7% |
| Financial charges | 65/66B | €34,619 | €43,625 | +€9,006 | +26.0% |
| Recurring financial charges | 65 | €34,619 | €43,625 | +€9,006 | +26.0% |
| Profit (loss) for the period before taxes | 9903 | €196,833 | €157,689 | -€39,145 | -19.9% |
| Income taxes | 67/77 | €53,033 | €42,995 | -€10,038 | -18.9% |
| Profit (loss) for the period | 9904 | €143,801 | €114,694 | -€29,107 | -20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €143,801 | €114,694 | -€29,107 | -20.2% |
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 30 October 2026 via checked.be.