TERGHAVER: 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.
TERGHAVER
Largest movements
- Tangible fixed assets -€3,976
down €3,976 (-5.7%), from €69,359 to €65,383
of which Land and buildings: -€3,865
- Accrued charges and deferred income -€2,199
down €2,199 (-1.7%), from €130,785 to €128,586
- Trade debts -€1,474
no longer reported in 2026 (was €1,474)
- Depreciation -€2,031
down €2,031 (-33.8%), from €6,007 to €3,976
- Gross operating margin +€1,860
up €1,860 (+73.2%), from €2,539 to €4,399
- Other operating charges -€1,436
down €1,436 (-59.1%), from €2,429 to €993
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €69,854 | €65,551 | -€4,303 | -6.2% |
| Fixed assets | 21/28 | €69,409 | €65,433 | -€3,976 | -5.7% |
| Tangible fixed assets | 22/27 | €69,359 | €65,383 | -€3,976 | -5.7% |
| Land and buildings | 22 | €69,163 | €65,298 | -€3,865 | -5.6% |
| Plant, machinery and equipment | 23 | €197 | €85 | -€112 | -56.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €444 | €117 | -€327 | -73.6% |
| Cash at bank and in hand | 54/58 | €444 | €117 | -€327 | -73.6% |
| Total equity and liabilities | 10/49 | €69,854 | €65,551 | -€4,303 | -6.2% |
| Equity | 10/15 | -€62,405 | -€63,035 | -€630 | -1.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Legal reserve | 130 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,856 | -€83,487 | -€630 | -0.8% |
| Amounts payable | 17/49 | €132,259 | €128,586 | -€3,673 | -2.8% |
| Amounts payable within one year | 42/48 | €1,474 | - | -€1,474 | |
| Trade debts | 44 | €1,474 | - | -€1,474 | |
| Suppliers | 440/4 | €1,474 | - | -€1,474 | |
| Accrued charges and deferred income | 492/3 | €130,785 | €128,586 | -€2,199 | -1.7% |
| Non-recurring operating income | 76A | €5,541 | €6,298 | +€757 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,007 | €3,976 | -€2,031 | -33.8% |
| Other operating charges | 640/8 | €2,429 | €993 | -€1,436 | -59.1% |
| Gross operating margin | 9900 | €2,539 | €4,399 | +€1,860 | +73.2% |
| Operating profit (loss) | 9901 | -€5,897 | -€570 | +€5,327 | +90.3% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Non-recurring financial income | 76B | €0 | - | -€0 | |
| Financial charges | 65/66B | €103 | €60 | -€43 | -41.7% |
| Recurring financial charges | 65 | €103 | €60 | -€43 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | -€6,000 | -€630 | +€5,370 | +89.5% |
| Profit (loss) for the period | 9904 | -€6,000 | -€630 | +€5,370 | +89.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,000 | -€630 | +€5,370 | +89.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.