TERLINDEN: 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.
TERLINDEN
Largest movements
- Tangible fixed assets +€991,886
up €991,886 (+89.5%), from €1.1m to €2.1m
of which Land and buildings: +€992,406
- Cash -€57,368
down €57,368 (-86.0%), from €66,677 to €9,309
mainly Investment in fixed assets (net) (-€992,406) and Short-term financial debts (-€48,205)
- Revaluation surpluses +€981,465
up €981,465 (+165%), from €594,516 to €1.6m
- Short-term financial debts -€48,205
down €48,205 (-5.2%), from €926,218 to €878,013
- Gross operating margin -€13,431
down €13,431 (-81.2%), from €16,542 to €3,112
- Financial charges -€551
down €551 (-89.7%), from €614 to €63
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 | €1,179,967 | €2,109,530 | +€929,563 | +78.8% |
| Fixed assets | 21/28 | €1,108,335 | €2,100,221 | +€991,886 | +89.5% |
| Tangible fixed assets | 22/27 | €1,108,335 | €2,100,221 | +€991,886 | +89.5% |
| Land and buildings | 22 | €1,107,594 | €2,100,000 | +€992,406 | +89.6% |
| Furniture and vehicles | 24 | €741 | €221 | -€520 | -70.2% |
| Current assets | 29/58 | €71,632 | €9,309 | -€62,322 | -87.0% |
| Amounts receivable within one year | 40/41 | €4,955 | €0 | -€4,955 | -100% |
| Trade receivables | 40 | €4,955 | €0 | -€4,955 | -100% |
| Cash at bank and in hand | 54/58 | €66,677 | €9,309 | -€57,368 | -86.0% |
| Total equity and liabilities | 10/49 | €1,179,967 | €2,109,530 | +€929,563 | +78.8% |
| Equity | 10/15 | €248,280 | €1,231,275 | +€982,995 | +396% |
| Contributions | 10/11 | €205,000 | €205,000 | = | 0.0% |
| Capital | 10 | €205,000 | €205,000 | = | 0.0% |
| Issued capital | 100 | €205,000 | €205,000 | = | 0.0% |
| Revaluation surpluses | 12 | €594,516 | €1,575,980 | +€981,465 | +165% |
| Reserves | 13 | €20,451 | €20,451 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,451 | €20,451 | = | 0.0% |
| Legal reserve | 130 | €20,451 | €20,451 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€571,687 | -€570,157 | +€1,531 | +0.3% |
| Amounts payable | 17/49 | €931,687 | €878,255 | -€53,432 | -5.7% |
| Amounts payable within one year | 42/48 | €931,687 | €878,255 | -€53,432 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €926,218 | €878,013 | -€48,205 | -5.2% |
| Other loans | 439 | €926,218 | €878,013 | -€48,205 | -5.2% |
| Trade debts | 44 | €5,330 | €242 | -€5,088 | -95.5% |
| Suppliers | 440/4 | €5,330 | €242 | -€5,088 | -95.5% |
| Taxes, remuneration and social security | 45 | €140 | €0 | -€140 | -100% |
| Taxes | 450/3 | €140 | €0 | -€140 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €11,765 | €0 | -€11,765 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €520 | €520 | = | 0.0% |
| Other operating charges | 640/8 | €1,069 | €998 | -€71 | -6.6% |
| Gross operating margin | 9900 | €16,542 | €3,112 | -€13,431 | -81.2% |
| Operating profit (loss) | 9901 | €14,953 | €1,594 | -€13,360 | -89.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €614 | €63 | -€551 | -89.7% |
| Recurring financial charges | 65 | €614 | €63 | -€551 | -89.7% |
| Profit (loss) for the period before taxes | 9903 | €14,339 | €1,531 | -€12,809 | -89.3% |
| Income taxes | 67/77 | €140 | €0 | -€140 | -100% |
| Profit (loss) for the period | 9904 | €14,200 | €1,531 | -€12,669 | -89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,200 | €1,531 | -€12,669 | -89.2% |
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 28 October 2026 via checked.be.