TERMAAS: what changed
Two fiscal 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.
TERMAAS
Largest movements
- Tangible fixed assets -€7,513
down €7,513 (-5.8%), from €130,217 to €122,705
- Profit (loss) carried forward -€9,354
down €9,354 (-11.1%), from -€84,152 to -€93,506
- Gross operating margin -€914
down €914 (-130.1%), from -€702 to -€1,616
- Financial charges +€35
up €35 (+18.2%), from €190 to €225
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.
Cash bridge derived
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 | €308,868 | €301,130 | -€7,738 | -2.5% |
| Fixed assets | 21/28 | €130,217 | €122,705 | -€7,513 | -5.8% |
| Tangible fixed assets | 22/27 | €130,217 | €122,705 | -€7,513 | -5.8% |
| Land and buildings | 22 | €130,217 | €122,705 | -€7,513 | -5.8% |
| Current assets | 29/58 | €178,651 | €178,425 | -€225 | -0.1% |
| Stocks and contracts in progress | 3 | €163,067 | €163,067 | = | 0.0% |
| Stocks | 30/36 | €163,067 | €163,067 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €11,365 | €11,365 | = | 0.0% |
| Other amounts receivable | 41 | €11,365 | €11,365 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,283 | €2,058 | -€225 | -9.9% |
| Deferred charges and accrued income | 490/1 | €1,936 | €1,936 | = | 0.0% |
| Total equity and liabilities | 10/49 | €308,868 | €301,130 | -€7,738 | -2.5% |
| Equity | 10/15 | €93,558 | €84,205 | -€9,354 | -10.0% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €103,342 | €103,342 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €95,842 | €95,842 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,152 | -€93,506 | -€9,354 | -11.1% |
| Amounts payable | 17/49 | €215,310 | €216,926 | +€1,616 | +0.8% |
| Amounts payable within one year | 42/48 | €215,310 | €216,926 | +€1,616 | +0.8% |
| Trade debts | 44 | €23,181 | €24,797 | +€1,616 | +7.0% |
| Suppliers | 440/4 | €23,181 | €24,797 | +€1,616 | +7.0% |
| Other amounts payable | 47/48 | €192,128 | €192,128 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,513 | €7,513 | = | 0.0% |
| Gross operating margin | 9900 | -€702 | -€1,616 | -€914 | -130.1% |
| Operating profit (loss) | 9901 | -€8,215 | -€9,129 | -€914 | -11.1% |
| Financial charges | 65/66B | €190 | €225 | +€35 | +18.2% |
| Recurring financial charges | 65 | €190 | €225 | +€35 | +18.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,405 | -€9,354 | -€948 | -11.3% |
| Profit (loss) for the period | 9904 | -€8,405 | -€9,354 | -€948 | -11.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,405 | -€9,354 | -€948 | -11.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.