Terlo: 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.
Terlo
Largest movements
- Receivables within one year +€5,769
up €5,769 (+119%), from €4,857 to €10,626
of which Other amounts receivable: +€5,149
- Tangible fixed assets -€2,076
down €2,076 (-53.7%), from €3,867 to €1,791
of which Plant, machinery and equipment: -€1,461
- Cash -€248
down €248 (-24.8%), from €1,000 to €752
mainly Receivables within one year (-€5,769) and Net result for the year (-€2,489)
- Tax, wage and social debts +€3,353
up €3,353 (+215%), from €1,561 to €4,915
of which Taxes: +€1,744
- Other debts +€2,747
up €2,747 (+2,146%), from €128 to €2,875
- Reserves -€2,489
down €2,489 (-53.9%), from €4,615 to €2,126
- Trade debts -€166
down €166 (-11.7%), from €1,420 to €1,254
- Staff costs +€5,238
up €5,238 (+260%), from €2,018 to €7,256
- Gross operating margin -€2,449
down €2,449 (-23.2%), from €10,559 to €8,110
- Taxes -€1,561
down €1,561 (-100%), from €1,561 to €0
- Other operating charges +€567
up €567 (+75.6%), from €751 to €1,318
- Financial income +€189
up €189, from €0 to €189
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 | €9,724 | €13,169 | +€3,445 | +35.4% |
| Fixed assets | 21/28 | €3,867 | €1,791 | -€2,076 | -53.7% |
| Tangible fixed assets | 22/27 | €3,867 | €1,791 | -€2,076 | -53.7% |
| Plant, machinery and equipment | 23 | €2,534 | €1,073 | -€1,461 | -57.7% |
| Furniture and vehicles | 24 | €1,333 | €718 | -€615 | -46.2% |
| Current assets | 29/58 | €5,857 | €11,378 | +€5,521 | +94.3% |
| Amounts receivable within one year | 40/41 | €4,857 | €10,626 | +€5,769 | +119% |
| Trade receivables | 40 | €3,685 | €4,305 | +€620 | +16.8% |
| Other amounts receivable | 41 | €1,172 | €6,321 | +€5,149 | +439% |
| Cash at bank and in hand | 54/58 | €1,000 | €752 | -€248 | -24.8% |
| Total equity and liabilities | 10/49 | €9,724 | €13,169 | +€3,445 | +35.4% |
| Equity | 10/15 | €6,615 | €4,126 | -€2,489 | -37.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €4,615 | €2,126 | -€2,489 | -53.9% |
| Distributable reserves | 133 | €4,615 | €2,126 | -€2,489 | -53.9% |
| Amounts payable | 17/49 | €3,109 | €9,043 | +€5,934 | +191% |
| Amounts payable within one year | 42/48 | €3,109 | €9,043 | +€5,934 | +191% |
| Trade debts | 44 | €1,420 | €1,254 | -€166 | -11.7% |
| Suppliers | 440/4 | €1,420 | €1,254 | -€166 | -11.7% |
| Taxes, remuneration and social security | 45 | €1,561 | €4,915 | +€3,353 | +215% |
| Taxes | 450/3 | €1,561 | €3,305 | +€1,744 | +112% |
| Remuneration and social security | 454/9 | - | €1,610 | +€1,610 | |
| Other amounts payable | 47/48 | €128 | €2,875 | +€2,747 | +2,146% |
| Remuneration, social security and pensions | 62 | €2,018 | €7,256 | +€5,238 | +260% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,947 | €2,076 | +€129 | +6.6% |
| Other operating charges | 640/8 | €751 | €1,318 | +€567 | +75.6% |
| Gross operating margin | 9900 | €10,559 | €8,110 | -€2,449 | -23.2% |
| Operating profit (loss) | 9901 | €5,844 | -€2,540 | -€8,384 | |
| Financial income | 75/76B | €0 | €189 | +€189 | |
| Recurring financial income | 75 | €0 | €189 | +€189 | |
| Financial charges | 65/66B | €110 | €138 | +€28 | +25.4% |
| Recurring financial charges | 65 | €110 | €138 | +€28 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | €5,733 | -€2,489 | -€8,223 | |
| Income taxes | 67/77 | €1,561 | €0 | -€1,561 | -100% |
| Profit (loss) for the period | 9904 | €4,172 | -€2,489 | -€6,661 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,172 | -€2,489 | -€6,661 |
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 13 October 2026 via checked.be.