TERHEYLEN: 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.
TERHEYLEN
Largest movements
- Cash -€65,206
down €65,206 (-22.2%), from €293,418 to €228,212
mainly Investment in fixed assets (net) (-€72,096) and Receivables within one year (-€42,040)
- Receivables within one year +€42,040
up €42,040 (+51.0%), from €82,439 to €124,479
of which Trade receivables: +€63,542
- Tangible fixed assets +€22,624
up €22,624 (+8.5%), from €267,630 to €290,254
of which Furniture and vehicles: +€55,138
- Trade debts +€20,594
up €20,594 (+363%), from €5,676 to €26,270
- Debts after one year -€18,674
down €18,674 (-7.5%), from €248,328 to €229,654
of which Financial debts: -€14,174
- Gross operating margin +€9,273
up €9,273 (+13.8%), from €67,262 to €76,535
- Depreciation +€4,723
up €4,723 (+10.6%), from €44,750 to €49,473
- Taxes +€3,876
up €3,876 (+396%), from €979 to €4,855
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 | €647,811 | €644,047 | -€3,764 | -0.6% |
| Fixed assets | 21/28 | €267,630 | €290,254 | +€22,624 | +8.5% |
| Tangible fixed assets | 22/27 | €267,630 | €290,254 | +€22,624 | +8.5% |
| Land and buildings | 22 | €267,630 | €222,881 | -€44,750 | -16.7% |
| Plant, machinery and equipment | 23 | - | €4,808 | +€4,808 | |
| Furniture and vehicles | 24 | - | €55,138 | +€55,138 | |
| Assets under construction and advance payments | 27 | - | €7,428 | +€7,428 | |
| Current assets | 29/58 | €380,181 | €353,793 | -€26,388 | -6.9% |
| Amounts receivable within one year | 40/41 | €82,439 | €124,479 | +€42,040 | +51.0% |
| Trade receivables | 40 | €56,916 | €120,458 | +€63,542 | +112% |
| Other amounts receivable | 41 | €25,523 | €4,021 | -€21,502 | -84.2% |
| Cash at bank and in hand | 54/58 | €293,418 | €228,212 | -€65,206 | -22.2% |
| Deferred charges and accrued income | 490/1 | €4,324 | €1,102 | -€3,221 | -74.5% |
| Total equity and liabilities | 10/49 | €647,811 | €644,047 | -€3,764 | -0.6% |
| Equity | 10/15 | €253,514 | €254,366 | +€852 | +0.3% |
| Contributions | 10/11 | €110,220 | €110,220 | = | 0.0% |
| Capital | 10 | €110,220 | €110,220 | = | 0.0% |
| Issued capital | 100 | €110,220 | €110,220 | = | 0.0% |
| Reserves | 13 | €143,294 | €144,146 | +€852 | +0.6% |
| Non-distributable reserves | 130/1 | €7,822 | €8,674 | +€852 | +10.9% |
| Legal reserve | 130 | €7,822 | €8,674 | +€852 | +10.9% |
| Distributable reserves | 133 | €135,472 | €135,472 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €394,298 | €389,681 | -€4,616 | -1.2% |
| Amounts payable after more than one year | 17 | €248,328 | €229,654 | -€18,674 | -7.5% |
| Financial debts | 170/4 | €224,328 | €210,154 | -€14,174 | -6.3% |
| Other amounts payable | 178/9 | €24,000 | €19,500 | -€4,500 | -18.8% |
| Amounts payable within one year | 42/48 | €130,344 | €150,670 | +€20,326 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €13,981 | €14,174 | +€192 | +1.4% |
| Trade debts | 44 | €5,676 | €26,270 | +€20,594 | +363% |
| Suppliers | 440/4 | €5,676 | €26,270 | +€20,594 | +363% |
| Taxes, remuneration and social security | 45 | €30,433 | €26,001 | -€4,432 | -14.6% |
| Taxes | 450/3 | €25,833 | €21,401 | -€4,432 | -17.2% |
| Remuneration and social security | 454/9 | €4,600 | €4,600 | = | 0.0% |
| Other amounts payable | 47/48 | €80,253 | €84,225 | +€3,971 | +4.9% |
| Accrued charges and deferred income | 492/3 | €15,626 | €9,358 | -€6,269 | -40.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,750 | €49,473 | +€4,723 | +10.6% |
| Other operating charges | 640/8 | €11,222 | €11,780 | +€558 | +5.0% |
| Gross operating margin | 9900 | €67,262 | €76,535 | +€9,273 | +13.8% |
| Operating profit (loss) | 9901 | €11,290 | €15,282 | +€3,992 | +35.4% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €8,972 | €9,575 | +€603 | +6.7% |
| Recurring financial charges | 65 | €8,972 | €9,575 | +€603 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €2,318 | €5,707 | +€3,389 | +146% |
| Income taxes | 67/77 | €979 | €4,855 | +€3,876 | +396% |
| Profit (loss) for the period | 9904 | €1,339 | €852 | -€487 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,339 | €852 | -€487 | -36.4% |
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 17 October 2026 via checked.be.