TERBUS: what changed
Two fiscal 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.
TERBUS
Largest movements
- Tangible fixed assets -€70,151
down €70,151 (-7.1%), from €983,174 to €913,023
of which Furniture and vehicles: -€36,890
- Cash +€17,166
up €17,166 (+16.0%), from €107,536 to €124,701
mainly Depreciation (+€38,376) and Investment in fixed assets (net) (+€31,775)
- Profit (loss) carried forward -€16,970
down €16,970 (-20.1%), from €84,330 to €67,360
- Other debts -€13,571
down €13,571 (-28.4%), from €47,760 to €34,189
- Reserves -€11,731
down €11,731 (-1.4%), from €826,843 to €815,112
of which Tax-exempt reserves: -€11,731
- Depreciation -€13,843
down €13,843 (-26.5%), from €52,219 to €38,376
- Gross operating margin +€5,507
up €5,507 (+28.2%), from €19,554 to €25,062
- Other operating charges +€1,764
up €1,764 (+43.7%), from €4,035 to €5,798
- Financial income +€559
up €559 (+11287.9%), from €5 to €564
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.
Cash bridge derived
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 | €1,098,622 | €1,039,624 | -€58,998 | -5.4% |
| Fixed assets | 21/28 | €983,174 | €913,023 | -€70,151 | -7.1% |
| Tangible fixed assets | 22/27 | €983,174 | €913,023 | -€70,151 | -7.1% |
| Land and buildings | 22 | €936,472 | €900,787 | -€35,686 | -3.8% |
| Plant, machinery and equipment | 23 | €4,146 | €6,571 | +€2,425 | +58.5% |
| Furniture and vehicles | 24 | €39,005 | €2,115 | -€36,890 | -94.6% |
| Other tangible fixed assets | 26 | €3,550 | €3,550 | = | 0.0% |
| Current assets | 29/58 | €115,448 | €126,601 | +€11,153 | +9.7% |
| Amounts receivable within one year | 40/41 | €6,185 | €385 | -€5,800 | -93.8% |
| Other amounts receivable | 41 | €6,185 | €385 | -€5,800 | -93.8% |
| Cash at bank and in hand | 54/58 | €107,536 | €124,701 | +€17,166 | +16.0% |
| Deferred charges and accrued income | 490/1 | €1,727 | €1,514 | -€212 | -12.3% |
| Total equity and liabilities | 10/49 | €1,098,622 | €1,039,624 | -€58,998 | -5.4% |
| Equity | 10/15 | €929,773 | €901,072 | -€28,701 | -3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €826,843 | €815,112 | -€11,731 | -1.4% |
| Tax-exempt reserves | 132 | €251,183 | €239,452 | -€11,731 | -4.7% |
| Distributable reserves | 133 | €575,660 | €575,660 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,330 | €67,360 | -€16,970 | -20.1% |
| Provisions and deferred taxes | 16 | €105,510 | €100,582 | -€4,928 | -4.7% |
| Deferred taxes | 168 | €105,510 | €100,582 | -€4,928 | -4.7% |
| Amounts payable | 17/49 | €63,339 | €37,970 | -€25,369 | -40.1% |
| Amounts payable within one year | 42/48 | €59,191 | €34,530 | -€24,661 | -41.7% |
| Trade debts | 44 | €9,231 | €341 | -€8,890 | -96.3% |
| Suppliers | 440/4 | €9,231 | €341 | -€8,890 | -96.3% |
| Taxes, remuneration and social security | 45 | €2,200 | - | -€2,200 | |
| Taxes | 450/3 | €2,200 | - | -€2,200 | |
| Other amounts payable | 47/48 | €47,760 | €34,189 | -€13,571 | -28.4% |
| Accrued charges and deferred income | 492/3 | €4,148 | €3,440 | -€708 | -17.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,219 | €38,376 | -€13,843 | -26.5% |
| Other operating charges | 640/8 | €4,035 | €5,798 | +€1,764 | +43.7% |
| Non-recurring operating charges | 66A | €6,359 | €14,921 | +€8,562 | +134.6% |
| Gross operating margin | 9900 | €19,554 | €25,062 | +€5,507 | +28.2% |
| Operating profit (loss) | 9901 | -€43,059 | -€34,034 | +€9,025 | +21.0% |
| Financial income | 75/76B | €5 | €564 | +€559 | +11287.9% |
| Recurring financial income | 75 | €5 | €564 | +€559 | +11287.9% |
| Financial charges | 65/66B | €61 | €72 | +€11 | +18.3% |
| Recurring financial charges | 65 | €61 | €72 | +€11 | +18.3% |
| Profit (loss) for the period before taxes | 9903 | -€43,115 | -€33,542 | +€9,573 | +22.2% |
| Transfer from deferred taxes | 780 | €4,928 | €4,928 | = | 0.0% |
| Income taxes | 67/77 | €97 | €87 | -€10 | -10.6% |
| Profit (loss) for the period | 9904 | -€38,284 | -€28,701 | +€9,583 | +25.0% |
| Transfer from tax-exempt reserves | 789 | €159,081 | €11,731 | -€147,350 | -92.6% |
| Profit (loss) for the period to be appropriated | 9905 | €120,797 | -€16,970 | -€137,767 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.