TERBES: what changed
What changed
TERBES
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€1,897
2024 · €23,321-€21,424
Equity
€25,381
2024 · €23,484+€1,897
Cash
€10,104
2024 · €0+€10,104
Balance sheet total
€967,148
2024 · €972,434-€5,287
Largest movements
Assets
- Stocks and contracts +€44,219
up €44,219 (+122%), from €36,281 to €80,500
- Tangible fixed assets -€29,471
down €29,471 (-3.3%), from €903,254 to €873,783
of which Land and buildings: -€18,716
- Intangible fixed assets -€18,223
down €18,223 (-91.1%), from €20,000 to €1,777
- Cash +€10,104
up €10,104, from €0 to €10,104
mainly Depreciation (+€55,552) and Trade debts (+€35,573)
Equity and liabilities
- Debts after one year -€67,822
down €67,822 (-7.8%), from €864,255 to €796,433
- Trade debts +€35,573
up €35,573 (+399%), from €8,923 to €44,496
- Short-term financial debts +€30,000
new in 2025: €30,000
Income statement
- Gross operating margin -€22,709
down €22,709 (-21.3%), from €106,391 to €83,681
- Other operating charges -€1,245
down €1,245 (-17.1%), from €7,259 to €6,014
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.
Result 2024
€23,321
Gross operating margin
-€22,709
Depreciation
-€875
Other operating charges
+€1,245
Financial income
+€0
Financial charges
+€916
Result 2025
€1,897
raises the resultlowers the result
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.
From operations
+€54,791
Investment
-€7,859
Financing
-€36,829
Cash 2024
€0
From operations (derived)
+€54,791
Net result for the year
+€1,897
Depreciation
+€55,552
Stocks and contracts
-€44,219
Receivables within one year
+€8,434
Deferred charges and accrued income
+€3,482
Trade debts
+€35,573
Tax, wage and social debts
-€6,811
Other debts
+€883
Investment (derived)
-€7,859
Investment in fixed assets (net)
-€7,859
Financing
-€36,829
Debts after one year
-€67,822
Current portion of long-term debt
+€993
Short-term financial debts
+€30,000
Cash 2025
€10,104
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €972,434 | €967,148 | -€5,287 | -0.5% |
| Fixed assets | 21/28 | €923,254 | €875,560 | -€47,694 | -5.2% |
| Intangible fixed assets | 21 | €20,000 | €1,777 | -€18,223 | -91.1% |
| Tangible fixed assets | 22/27 | €903,254 | €873,783 | -€29,471 | -3.3% |
| Land and buildings | 22 | €792,314 | €773,598 | -€18,716 | -2.4% |
| Plant, machinery and equipment | 23 | €101,020 | €92,774 | -€8,246 | -8.2% |
| Furniture and vehicles | 24 | €9,920 | €7,411 | -€2,509 | -25.3% |
| Current assets | 29/58 | €49,181 | €91,588 | +€42,407 | +86.2% |
| Stocks and contracts in progress | 3 | €36,281 | €80,500 | +€44,219 | +122% |
| Stocks | 30/36 | €36,281 | €80,500 | +€44,219 | +122% |
| Amounts receivable within one year | 40/41 | €8,434 | €0 | -€8,434 | -100% |
| Trade receivables | 40 | €8,434 | €0 | -€8,434 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €0 | €10,104 | +€10,104 | |
| Deferred charges and accrued income | 490/1 | €4,466 | €984 | -€3,482 | -78.0% |
| Total equity and liabilities | 10/49 | €972,434 | €967,148 | -€5,287 | -0.5% |
| Equity | 10/15 | €23,484 | €25,381 | +€1,897 | +8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €6,781 | +€6,781 | |
| Distributable reserves | 133 | - | €6,781 | +€6,781 | |
| Profit (loss) carried forward | 14 | €4,884 | €0 | -€4,884 | -100% |
| Amounts payable | 17/49 | €948,950 | €941,767 | -€7,184 | -0.8% |
| Amounts payable after more than one year | 17 | €864,255 | €796,433 | -€67,822 | -7.8% |
| Financial debts | 170/4 | €864,255 | €796,433 | -€67,822 | -7.8% |
| Amounts payable within one year | 42/48 | €84,695 | €145,333 | +€60,638 | +71.6% |
| Current portion of amounts payable after more than one year | 42 | €40,329 | €41,322 | +€993 | +2.5% |
| Financial debts | 43 | - | €30,000 | +€30,000 | |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €8,923 | €44,496 | +€35,573 | +399% |
| Suppliers | 440/4 | €8,923 | €44,496 | +€35,573 | +399% |
| Taxes, remuneration and social security | 45 | €13,324 | €6,513 | -€6,811 | -51.1% |
| Taxes | 450/3 | €8,804 | €6,513 | -€2,291 | -26.0% |
| Remuneration and social security | 454/9 | €4,520 | €0 | -€4,520 | -100% |
| Other amounts payable | 47/48 | €22,120 | €23,003 | +€883 | +4.0% |
| Non-recurring operating income | 76A | €20,000 | €0 | -€20,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,678 | €55,552 | +€875 | +1.6% |
| Other operating charges | 640/8 | €7,259 | €6,014 | -€1,245 | -17.1% |
| Gross operating margin | 9900 | €106,391 | €83,681 | -€22,709 | -21.3% |
| Operating profit (loss) | 9901 | €44,454 | €22,115 | -€22,339 | -50.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €21,134 | €20,218 | -€916 | -4.3% |
| Recurring financial charges | 65 | €21,134 | €20,218 | -€916 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €23,321 | €1,897 | -€21,424 | -91.9% |
| Profit (loss) for the period | 9904 | €23,321 | €1,897 | -€21,424 | -91.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,321 | €1,897 | -€21,424 | -91.9% |
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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 1 November 2026 via checked.be.