TERDURSA: 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.
TERDURSA
Largest movements
- Receivables within one year -€58,505
down €58,505 (-31.8%), from €183,789 to €125,284
of which Trade receivables: -€50,170
- Cash +€55,151
up €55,151 (+57.6%), from €95,788 to €150,939
mainly Receivables within one year (+€58,505) and Net result for the year (+€48,112)
- Tangible fixed assets +€35,483
up €35,483 (+641.1%), from €5,535 to €41,018
- Deferred charges and accrued income +€31,876
up €31,876 (+3755.3%), from €849 to €32,725
- Reserves +€48,112
up €48,112 (+18.7%), from €256,679 to €304,791
- Tax, wage and social debts +€11,528
up €11,528 (+46.0%), from €25,066 to €36,594
- Gross operating margin +€10,857
up €10,857 (+14.5%), from €75,126 to €85,983
- Depreciation +€8,468
up €8,468 (+363.4%), from €2,330 to €10,798
- Other operating charges +€2,309
up €2,309 (+219.4%), from €1,052 to €3,361
- Taxes +€1,806
up €1,806 (+7.0%), from €25,643 to €27,449
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 | €385,961 | €449,966 | +€64,005 | +16.6% |
| Fixed assets | 21/28 | €5,535 | €41,018 | +€35,483 | +641.1% |
| Tangible fixed assets | 22/27 | €5,535 | €41,018 | +€35,483 | +641.1% |
| Furniture and vehicles | 24 | €5,535 | €41,018 | +€35,483 | +641.1% |
| Current assets | 29/58 | €380,426 | €408,948 | +€28,522 | +7.5% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €183,789 | €125,284 | -€58,505 | -31.8% |
| Trade receivables | 40 | €131,477 | €81,308 | -€50,170 | -38.2% |
| Other amounts receivable | 41 | €52,312 | €43,976 | -€8,335 | -15.9% |
| Cash at bank and in hand | 54/58 | €95,788 | €150,939 | +€55,151 | +57.6% |
| Deferred charges and accrued income | 490/1 | €849 | €32,725 | +€31,876 | +3755.3% |
| Total equity and liabilities | 10/49 | €385,961 | €449,966 | +€64,005 | +16.6% |
| Equity | 10/15 | €256,679 | €304,791 | +€48,112 | +18.7% |
| Reserves | 13 | €256,679 | €304,791 | +€48,112 | +18.7% |
| Distributable reserves | 133 | €256,679 | €304,791 | +€48,112 | +18.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €129,282 | €145,174 | +€15,893 | +12.3% |
| Amounts payable within one year | 42/48 | €129,282 | €145,174 | +€15,893 | +12.3% |
| Trade debts | 44 | €61,112 | €65,477 | +€4,365 | +7.1% |
| Suppliers | 440/4 | €61,112 | €65,477 | +€4,365 | +7.1% |
| Advances received on contracts in progress | 46 | €43,103 | €43,103 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €25,066 | €36,594 | +€11,528 | +46.0% |
| Taxes | 450/3 | €25,066 | €36,594 | +€11,528 | +46.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,330 | €10,798 | +€8,468 | +363.4% |
| Other operating charges | 640/8 | €1,052 | €3,361 | +€2,309 | +219.4% |
| Gross operating margin | 9900 | €75,126 | €85,983 | +€10,857 | +14.5% |
| Operating profit (loss) | 9901 | €71,743 | €71,823 | +€80 | +0.1% |
| Financial income | 75/76B | €3,749 | €4,067 | +€318 | +8.5% |
| Recurring financial income | 75 | €3,749 | €4,067 | +€318 | +8.5% |
| Financial charges | 65/66B | €975 | €329 | -€646 | -66.2% |
| Recurring financial charges | 65 | €975 | €329 | -€646 | -66.2% |
| Profit (loss) for the period before taxes | 9903 | €74,517 | €75,561 | +€1,045 | +1.4% |
| Income taxes | 67/77 | €25,643 | €27,449 | +€1,806 | +7.0% |
| Profit (loss) for the period | 9904 | €48,874 | €48,112 | -€761 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,874 | €48,112 | -€761 | -1.6% |
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 5 October 2026 via checked.be.