Terheide Horses: 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.
Terheide Horses
Largest movements
- Tangible fixed assets -€29,948
down €29,948 (-20.6%), from €145,531 to €115,583
of which Other tangible fixed assets: -€24,427
- Stocks and contracts +€10,000
up €10,000 (+4.9%), from €203,958 to €213,958
- Receivables within one year -€4,126
down €4,126 (-82.3%), from €5,017 to €890
- Profit (loss) carried forward -€63,951
down €63,951 (-28.4%), from -€225,105 to -€289,055
- Debts after one year +€46,700
up €46,700 (+10.1%), from €460,200 to €506,900
of which Other amounts payable: +€46,700
- Trade debts -€11,678
down €11,678 (-85.3%), from €13,684 to €2,006
- Gross operating margin +€9,768
up €9,768 (+17.4%), from -€56,158 to -€46,391
- Other operating charges +€3,546
up €3,546 (+450%), from €788 to €4,334
- Depreciation +€2,065
up €2,065 (+18.7%), from €11,056 to €13,121
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 | €373,801 | €345,904 | -€27,897 | -7.5% |
| Fixed assets | 21/28 | €145,531 | €115,583 | -€29,948 | -20.6% |
| Tangible fixed assets | 22/27 | €145,531 | €115,583 | -€29,948 | -20.6% |
| Plant, machinery and equipment | 23 | €36,402 | €32,351 | -€4,051 | -11.1% |
| Furniture and vehicles | 24 | €6,701 | €5,232 | -€1,470 | -21.9% |
| Other tangible fixed assets | 26 | €102,427 | €78,000 | -€24,427 | -23.8% |
| Current assets | 29/58 | €228,270 | €230,321 | +€2,051 | +0.9% |
| Stocks and contracts in progress | 3 | €203,958 | €213,958 | +€10,000 | +4.9% |
| Stocks | 30/36 | €203,958 | €213,958 | +€10,000 | +4.9% |
| Amounts receivable within one year | 40/41 | €5,017 | €890 | -€4,126 | -82.3% |
| Other amounts receivable | 41 | €5,017 | €890 | -€4,126 | -82.3% |
| Cash at bank and in hand | 54/58 | €18,990 | €15,473 | -€3,517 | -18.5% |
| Deferred charges and accrued income | 490/1 | €306 | €0 | -€306 | -100% |
| Total equity and liabilities | 10/49 | €373,801 | €345,904 | -€27,897 | -7.5% |
| Equity | 10/15 | -€108,605 | -€172,555 | -€63,951 | -58.9% |
| Contributions | 10/11 | €116,500 | €116,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€225,105 | -€289,055 | -€63,951 | -28.4% |
| Amounts payable | 17/49 | €482,406 | €518,459 | +€36,053 | +7.5% |
| Amounts payable after more than one year | 17 | €460,200 | €506,900 | +€46,700 | +10.1% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €460,200 | €506,900 | +€46,700 | +10.1% |
| Amounts payable within one year | 42/48 | €22,206 | €11,559 | -€10,647 | -47.9% |
| Trade debts | 44 | €13,684 | €2,006 | -€11,678 | -85.3% |
| Suppliers | 440/4 | €13,684 | €2,006 | -€11,678 | -85.3% |
| Other amounts payable | 47/48 | €8,522 | €9,554 | +€1,032 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,056 | €13,121 | +€2,065 | +18.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €788 | €4,334 | +€3,546 | +450% |
| Gross operating margin | 9900 | -€56,158 | -€46,391 | +€9,768 | +17.4% |
| Operating profit (loss) | 9901 | -€68,002 | -€63,845 | +€4,156 | +6.1% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €105 | €106 | +€1 | +0.9% |
| Recurring financial charges | 65 | €105 | €106 | +€1 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | -€68,107 | -€63,951 | +€4,156 | +6.1% |
| Profit (loss) for the period | 9904 | -€68,107 | -€63,951 | +€4,156 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€68,107 | -€63,951 | +€4,156 | +6.1% |
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.