TERCANLI: 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.
TERCANLI
Largest movements
- Current investments +€200,000
up €200,000 (+100.0%), from €200,000 to €400,000
- Cash -€124,934
down €124,934 (-67.5%), from €185,137 to €60,203
mainly Current investments (-€200,000) and Investment in fixed assets (net) (-€135,472)
- Receivables within one year +€75,768
up €75,768 (+15.2%), from €499,698 to €575,466
of which Other amounts receivable: +€145,982
- Tangible fixed assets +€67,214
up €67,214 (+4.1%), from €1.6m to €1.7m
of which Leasing and similar rights: +€98,636
- Reserves +€190,472
up €190,472 (+14.6%), from €1.3m to €1.5m
of which Distributable reserves: +€190,472
- Trade debts +€58,730
up €58,730 (+266.3%), from €22,057 to €80,788
- Short-term financial debts -€39,202
down €39,202 (-100.0%), from €39,202 to €0
- Gross operating margin +€114,277
up €114,277 (+43.2%), from €264,241 to €378,518
- Taxes +€41,026
up €41,026 (+77.1%), from €53,220 to €94,246
- Financial charges +€19,045
up €19,045 (+99.5%), from €19,144 to €38,189
- Financial income +€4,750
up €4,750 (+43.3%), from €10,982 to €15,733
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 | €2,719,852 | €2,943,752 | +€223,900 | +8.2% |
| Fixed assets | 21/28 | €1,630,246 | €1,697,460 | +€67,214 | +4.1% |
| Tangible fixed assets | 22/27 | €1,630,246 | €1,697,460 | +€67,214 | +4.1% |
| Land and buildings | 22 | €1,572,383 | €1,546,757 | -€25,626 | -1.6% |
| Furniture and vehicles | 24 | €18,069 | €12,510 | -€5,559 | -30.8% |
| Leasing and similar rights | 25 | €33,663 | €132,300 | +€98,636 | +293.0% |
| Other tangible fixed assets | 26 | €6,131 | €5,894 | -€237 | -3.9% |
| Current assets | 29/58 | €1,089,606 | €1,246,292 | +€156,686 | +14.4% |
| Amounts receivable after more than one year | 29 | €199,750 | €205,726 | +€5,976 | +3.0% |
| Other amounts receivable | 291 | €199,750 | €205,726 | +€5,976 | +3.0% |
| Amounts receivable within one year | 40/41 | €499,698 | €575,466 | +€75,768 | +15.2% |
| Trade receivables | 40 | €344,583 | €274,369 | -€70,214 | -20.4% |
| Other amounts receivable | 41 | €155,115 | €301,097 | +€145,982 | +94.1% |
| Current investments | 50/53 | €200,000 | €400,000 | +€200,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €185,137 | €60,203 | -€124,934 | -67.5% |
| Deferred charges and accrued income | 490/1 | €5,022 | €4,898 | -€125 | -2.5% |
| Total equity and liabilities | 10/49 | €2,719,852 | €2,943,752 | +€223,900 | +8.2% |
| Equity | 10/15 | €1,324,708 | €1,515,179 | +€190,472 | +14.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,306,108 | €1,496,579 | +€190,472 | +14.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,306,108 | €1,496,579 | +€190,472 | +14.6% |
| Amounts payable | 17/49 | €1,395,144 | €1,428,573 | +€33,429 | +2.4% |
| Amounts payable after more than one year | 17 | €1,199,947 | €1,180,097 | -€19,850 | -1.7% |
| Financial debts | 170/4 | €1,199,947 | €1,180,097 | -€19,850 | -1.7% |
| Amounts payable within one year | 42/48 | €193,191 | €246,574 | +€53,383 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €95,530 | €110,608 | +€15,077 | +15.8% |
| Financial debts | 43 | €39,202 | €0 | -€39,202 | -100.0% |
| Credit institutions | 430/8 | €39,202 | €0 | -€39,202 | -100.0% |
| Trade debts | 44 | €22,057 | €80,788 | +€58,730 | +266.3% |
| Suppliers | 440/4 | €22,057 | €80,788 | +€58,730 | +266.3% |
| Taxes, remuneration and social security | 45 | €36,402 | €55,178 | +€18,777 | +51.6% |
| Taxes | 450/3 | €30,402 | €49,178 | +€18,777 | +61.8% |
| Remuneration and social security | 454/9 | €6,000 | €6,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,006 | €1,902 | -€104 | -5.2% |
| Non-recurring operating income | 76A | €622 | €0 | -€622 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,326 | €68,258 | +€2,932 | +4.5% |
| Other operating charges | 640/8 | €4,050 | €3,087 | -€963 | -23.8% |
| Gross operating margin | 9900 | €264,241 | €378,518 | +€114,277 | +43.2% |
| Operating profit (loss) | 9901 | €194,865 | €307,174 | +€112,309 | +57.6% |
| Financial income | 75/76B | €10,982 | €15,733 | +€4,750 | +43.3% |
| Recurring financial income | 75 | €10,982 | €15,733 | +€4,750 | +43.3% |
| Financial charges | 65/66B | €19,144 | €38,189 | +€19,045 | +99.5% |
| Recurring financial charges | 65 | €19,144 | €38,189 | +€19,045 | +99.5% |
| Profit (loss) for the period before taxes | 9903 | €186,703 | €284,718 | +€98,015 | +52.5% |
| Income taxes | 67/77 | €53,220 | €94,246 | +€41,026 | +77.1% |
| Profit (loss) for the period | 9904 | €133,483 | €190,472 | +€56,988 | +42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €133,483 | €190,472 | +€56,988 | +42.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.