TERENCO: 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.
TERENCO
Largest movements
- Cash +€9,678
up €9,678 (+253%), from €3,833 to €13,510
mainly Other debts (+€9,533) and Receivables within one year (+€8,203)
- Receivables within one year -€8,203
down €8,203 (-34.0%), from €24,139 to €15,936
- Deferred charges and accrued income -€1,456
down €1,456 (-67.7%), from €2,153 to €696
- Other debts +€9,533
up €9,533 (+3.2%), from €298,430 to €307,963
- Profit (loss) carried forward -€8,589
down €8,589 (-1.7%), from -€520,334 to -€528,924
- Accrued charges and deferred income -€4,143
no longer reported in 2025 (was €4,143)
- Trade debts +€3,197
up €3,197 (+25.9%), from €12,328 to €15,524
- Gross operating margin -€1.1m
down €1.1m, from €1.1m to -€1,140
- Financial charges -€215,035
down €215,035 (-96.8%), from €222,205 to €7,171
of which Non-recurring financial charges: -€143,787
- Staff costs -€65,870
no longer reported in 2025 (was €65,870)
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 | €30,124 | €30,143 | +€19 | +0.1% |
| Current assets | 29/58 | €30,124 | €30,143 | +€19 | +0.1% |
| Amounts receivable within one year | 40/41 | €24,139 | €15,936 | -€8,203 | -34.0% |
| Other amounts receivable | 41 | €24,139 | €15,936 | -€8,203 | -34.0% |
| Cash at bank and in hand | 54/58 | €3,833 | €13,510 | +€9,678 | +253% |
| Deferred charges and accrued income | 490/1 | €2,153 | €696 | -€1,456 | -67.7% |
| Total equity and liabilities | 10/49 | €30,124 | €30,143 | +€19 | +0.1% |
| Equity | 10/15 | -€320,334 | -€328,924 | -€8,589 | -2.7% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€520,334 | -€528,924 | -€8,589 | -1.7% |
| Amounts payable | 17/49 | €350,458 | €359,067 | +€8,608 | +2.5% |
| Amounts payable within one year | 42/48 | €346,315 | €359,067 | +€12,751 | +3.7% |
| Trade debts | 44 | €12,328 | €15,524 | +€3,197 | +25.9% |
| Suppliers | 440/4 | €12,328 | €15,524 | +€3,197 | +25.9% |
| Taxes, remuneration and social security | 45 | €35,558 | €35,580 | +€22 | +0.1% |
| Taxes | 450/3 | €35,558 | €35,580 | +€22 | +0.1% |
| Other amounts payable | 47/48 | €298,430 | €307,963 | +€9,533 | +3.2% |
| Accrued charges and deferred income | 492/3 | €4,143 | - | -€4,143 | |
| Non-recurring operating income | 76A | €1,118,252 | - | -€1.1m | |
| Remuneration, social security and pensions | 62 | €65,870 | - | -€65,870 | |
| Other operating charges | 640/8 | €6,213 | €731 | -€5,482 | -88.2% |
| Gross operating margin | 9900 | €1,077,489 | -€1,140 | -€1.1m | |
| Operating profit (loss) | 9901 | €1,005,406 | -€1,872 | -€1.0m | |
| Financial income | 75/76B | €1,052 | €453 | -€599 | -57.0% |
| Recurring financial income | 75 | €1,052 | €453 | -€599 | -57.0% |
| Financial charges | 65/66B | €222,205 | €7,171 | -€215,035 | -96.8% |
| Recurring financial charges | 65 | €72,205 | €958 | -€71,248 | -98.7% |
| Non-recurring financial charges | 66B | €150,000 | €6,213 | -€143,787 | -95.9% |
| Profit (loss) for the period before taxes | 9903 | €784,253 | -€8,589 | -€792,843 | |
| Profit (loss) for the period | 9904 | €784,253 | -€8,589 | -€792,843 | |
| Profit (loss) for the period to be appropriated | 9905 | €784,253 | -€8,589 | -€792,843 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.