Tergro: what changed
What changed
Tergro
NACE 82.100, Office administrative and support services
filed annual accounts (NBB)
Net result for the year
€44,886
2024 · €38,096+€6,790
Equity
€230,616
2024 · €185,730+€44,886
Cash
€169,728
2024 · €96,871+€72,857
Balance sheet total
€626,108
2024 · €677,493-€51,385
Largest movements
Assets
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Cash +€72,857
up €72,857 (+75.2%), from €96,871 to €169,728
mainly Current investments (+€100,000) and Net result for the year (+€44,886)
- Financial fixed assets -€40,000
down €40,000 (-8.7%), from €461,460 to €421,460
- Tangible fixed assets +€14,409
new in 2025: €14,409
of which Furniture and vehicles: +€8,923
Equity and liabilities
- Other debts -€48,815
down €48,815 (-26.5%), from €184,182 to €135,367
- Reserves +€44,886
up €44,886 (+40.5%), from €110,730 to €155,616
- Debts after one year -€40,679
down €40,679 (-17.7%), from €229,691 to €189,012
- Tax, wage and social debts -€9,117
down €9,117 (-43.0%), from €21,206 to €12,089
of which Taxes: -€5,335
Income statement
- Gross operating margin +€24,952
up €24,952 (+42.1%), from €59,274 to €84,226
- Financial income -€11,514
down €11,514 (-83.4%), from €13,802 to €2,288
- Taxes +€6,718
up €6,718 (+59.6%), from €11,273 to €17,991
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€38,096
Gross operating margin
+€24,952
Depreciation
-€436
Other operating charges
-€218
Financial income
-€11,514
Financial charges
+€725
Taxes
-€6,718
Result 2025
€44,886
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€15,001
Investment
+€125,154
Financing
-€37,297
Cash 2024
€96,871
From operations (derived)
-€15,001
Net result for the year
+€44,886
Depreciation
+€436
Receivables within one year
-€1,245
Deferred charges and accrued income
-€104
Trade debts
+€834
Tax, wage and social debts
-€9,117
Other debts
-€48,815
Accrued charges and deferred income
-€1,877
Investment (derived)
+€125,154
Investment in fixed assets (net)
+€25,154
Current investments
+€100,000
Financing
-€37,297
Debts after one year
-€40,679
Current portion of long-term debt
+€1,798
Short-term financial debts
+€1,584
Cash 2025
€169,728
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €677,493 | €626,108 | -€51,385 | -7.6% |
| Fixed assets | 21/28 | €461,460 | €435,869 | -€25,591 | -5.5% |
| Tangible fixed assets | 22/27 | - | €14,409 | +€14,409 | |
| Furniture and vehicles | 24 | - | €8,923 | +€8,923 | |
| Other tangible fixed assets | 26 | - | €5,486 | +€5,486 | |
| Financial fixed assets | 28 | €461,460 | €421,460 | -€40,000 | -8.7% |
| Current assets | 29/58 | €216,033 | €190,239 | -€25,795 | -11.9% |
| Amounts receivable within one year | 40/41 | €18,755 | €20,000 | +€1,245 | +6.6% |
| Trade receivables | 40 | €18,755 | €0 | -€18,755 | -100% |
| Other amounts receivable | 41 | €0 | €20,000 | +€20,000 | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €96,871 | €169,728 | +€72,857 | +75.2% |
| Deferred charges and accrued income | 490/1 | €407 | €511 | +€104 | +25.5% |
| Total equity and liabilities | 10/49 | €677,493 | €626,108 | -€51,385 | -7.6% |
| Equity | 10/15 | €185,730 | €230,616 | +€44,886 | +24.2% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €110,730 | €155,616 | +€44,886 | +40.5% |
| Distributable reserves | 133 | €110,730 | €155,616 | +€44,886 | +40.5% |
| Amounts payable | 17/49 | €491,764 | €395,492 | -€96,272 | -19.6% |
| Amounts payable after more than one year | 17 | €229,691 | €189,012 | -€40,679 | -17.7% |
| Financial debts | 170/4 | €229,691 | €189,012 | -€40,679 | -17.7% |
| Amounts payable within one year | 42/48 | €249,826 | €196,110 | -€53,715 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €42,195 | €43,993 | +€1,798 | +4.3% |
| Financial debts | 43 | €947 | €2,531 | +€1,584 | +167% |
| Credit institutions | 430/8 | €947 | €2,531 | +€1,584 | +167% |
| Trade debts | 44 | €1,295 | €2,130 | +€834 | +64.4% |
| Suppliers | 440/4 | €1,295 | €2,130 | +€834 | +64.4% |
| Taxes, remuneration and social security | 45 | €21,206 | €12,089 | -€9,117 | -43.0% |
| Taxes | 450/3 | €15,424 | €10,089 | -€5,335 | -34.6% |
| Remuneration and social security | 454/9 | €5,782 | €2,000 | -€3,782 | -65.4% |
| Other amounts payable | 47/48 | €184,182 | €135,367 | -€48,815 | -26.5% |
| Accrued charges and deferred income | 492/3 | €12,247 | €10,370 | -€1,877 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €436 | +€436 | |
| Other operating charges | 640/8 | €910 | €1,128 | +€218 | +24.0% |
| Gross operating margin | 9900 | €59,274 | €84,226 | +€24,952 | +42.1% |
| Operating profit (loss) | 9901 | €58,364 | €82,662 | +€24,298 | +41.6% |
| Financial income | 75/76B | €13,802 | €2,288 | -€11,514 | -83.4% |
| Recurring financial income | 75 | €13,802 | €2,288 | -€11,514 | -83.4% |
| Financial charges | 65/66B | €22,797 | €22,072 | -€725 | -3.2% |
| Recurring financial charges | 65 | €22,797 | €22,072 | -€725 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €49,369 | €62,878 | +€13,509 | +27.4% |
| Income taxes | 67/77 | €11,273 | €17,991 | +€6,718 | +59.6% |
| Profit (loss) for the period | 9904 | €38,096 | €44,886 | +€6,790 | +17.8% |
| Profit (loss) for the period to be appropriated | 9905 | €38,096 | €44,886 | +€6,790 | +17.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.