TERCOMAT: 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.
TERCOMAT
Largest movements
- Tangible fixed assets -€53,584
down €53,584 (-17.8%), from €300,687 to €247,103
of which Plant, machinery and equipment: -€31,034
- Cash -€36,161
down €36,161 (-29.8%), from €121,541 to €85,380
mainly Net result for the year (-€26,970) and Receivables within one year (-€25,951)
- Receivables within one year +€25,951
up €25,951 (+114%), from €22,718 to €48,669
of which Trade receivables: +€24,967
- Stocks and contracts +€6,163
up €6,163 (+17.6%), from €35,000 to €41,163
- Profit (loss) carried forward -€22,570
down €22,570, from €11,000 to -€11,570
- Debts after one year -€21,756
down €21,756 (-21.9%), from €99,370 to €77,614
- Tax, wage and social debts -€6,940
down €6,940 (-98.0%), from €7,082 to €142
- Gross operating margin -€50,525
down €50,525 (-61.2%), from €82,621 to €32,096
- Taxes -€7,796
down €7,796 (-98.2%), from €7,937 to €141
- Depreciation +€4,561
up €4,561 (+8.5%), from €53,503 to €58,064
- Financial charges -€916
down €916 (-31.4%), from €2,916 to €2,000
of which Financial charges: -€515
- Financial income +€867
up €867 (+10,838%), from €8 to €875
of which Non-recurring financial income: +€875
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 | €488,131 | €432,102 | -€56,029 | -11.5% |
| Fixed assets | 21/28 | €300,817 | €247,233 | -€53,584 | -17.8% |
| Tangible fixed assets | 22/27 | €300,687 | €247,103 | -€53,584 | -17.8% |
| Land and buildings | 22 | €95,152 | €83,952 | -€11,200 | -11.8% |
| Plant, machinery and equipment | 23 | €118,225 | €87,191 | -€31,034 | -26.2% |
| Furniture and vehicles | 24 | €27,422 | €23,801 | -€3,621 | -13.2% |
| Leasing and similar rights | 25 | €59,888 | €52,159 | -€7,729 | -12.9% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €187,314 | €184,869 | -€2,445 | -1.3% |
| Stocks and contracts in progress | 3 | €35,000 | €41,163 | +€6,163 | +17.6% |
| Stocks | 30/36 | €35,000 | €41,163 | +€6,163 | +17.6% |
| Amounts receivable within one year | 40/41 | €22,718 | €48,669 | +€25,951 | +114% |
| Trade receivables | 40 | €21,387 | €46,354 | +€24,967 | +117% |
| Other amounts receivable | 41 | €1,331 | €2,315 | +€984 | +73.9% |
| Cash at bank and in hand | 54/58 | €121,541 | €85,380 | -€36,161 | -29.8% |
| Deferred charges and accrued income | 490/1 | €8,055 | €9,657 | +€1,602 | +19.9% |
| Total equity and liabilities | 10/49 | €488,131 | €432,102 | -€56,029 | -11.5% |
| Equity | 10/15 | €258,856 | €231,886 | -€26,970 | -10.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €227,396 | €222,996 | -€4,400 | -1.9% |
| Tax-exempt reserves | 132 | €25,396 | €20,996 | -€4,400 | -17.3% |
| Distributable reserves | 133 | €202,000 | €202,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,000 | -€11,570 | -€22,570 | |
| Provisions and deferred taxes | 16 | €6,349 | €5,249 | -€1,100 | -17.3% |
| Deferred taxes | 168 | €6,349 | €5,249 | -€1,100 | -17.3% |
| Amounts payable | 17/49 | €222,926 | €194,967 | -€27,959 | -12.5% |
| Amounts payable after more than one year | 17 | €99,370 | €77,614 | -€21,756 | -21.9% |
| Financial debts | 170/4 | €99,370 | €77,614 | -€21,756 | -21.9% |
| Amounts payable within one year | 42/48 | €123,556 | €117,353 | -€6,203 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €24,151 | €23,231 | -€920 | -3.8% |
| Trade debts | 44 | €9,976 | €10,291 | +€315 | +3.2% |
| Suppliers | 440/4 | €9,976 | €10,291 | +€315 | +3.2% |
| Taxes, remuneration and social security | 45 | €7,082 | €142 | -€6,940 | -98.0% |
| Taxes | 450/3 | €7,082 | €142 | -€6,940 | -98.0% |
| Other amounts payable | 47/48 | €82,347 | €83,689 | +€1,342 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,503 | €58,064 | +€4,561 | +8.5% |
| Other operating charges | 640/8 | €1,577 | €836 | -€741 | -47.0% |
| Gross operating margin | 9900 | €82,621 | €32,096 | -€50,525 | -61.2% |
| Operating profit (loss) | 9901 | €27,541 | -€26,804 | -€54,345 | |
| Financial income | 75/76B | €8 | €875 | +€867 | +10,838% |
| Recurring financial income | 75 | €8 | €875 | +€867 | +10,838% |
| Non-recurring financial income | 76B | - | €875 | +€875 | |
| Financial charges | 65/66B | €2,916 | €2,000 | -€916 | -31.4% |
| Recurring financial charges | 65 | €2,515 | €2,000 | -€515 | -20.5% |
| Non-recurring financial charges | 66B | €401 | - | -€401 | |
| Profit (loss) for the period before taxes | 9903 | €24,633 | -€27,929 | -€52,562 | |
| Transfer from deferred taxes | 780 | €1,025 | €1,100 | +€75 | +7.3% |
| Income taxes | 67/77 | €7,937 | €141 | -€7,796 | -98.2% |
| Profit (loss) for the period | 9904 | €17,721 | -€26,970 | -€44,691 | |
| Transfer from tax-exempt reserves | 789 | €4,100 | €4,400 | +€300 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,821 | -€22,570 | -€44,391 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.