TERMECA CHOQUENET: 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.
TERMECA CHOQUENET
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-66.5%), from €1.6m to €529,349
of which Trade receivables: -€960,324
- Cash +€694,841
up €694,841 (+119%), from €583,012 to €1.3m
mainly Receivables within one year (+€1.0m) and Tax, wage and social debts (+€323,061)
- Tangible fixed assets +€108,943
up €108,943 (+383%), from €28,470 to €137,413
of which Other tangible fixed assets: +€90,429
- Intangible fixed assets +€95,278
new in 2025: €95,278
- Reserves -€407,475
down €407,475 (-25.1%), from €1.6m to €1.2m
of which Distributable reserves: -€323,275
- Tax, wage and social debts +€323,061
up €323,061 (+26,870%), from €1,202 to €324,263
of which Taxes: +€323,184
- Trade debts -€86,041
down €86,041 (-17.3%), from €498,185 to €412,144
- Gross operating margin -€628,240
down €628,240 (-66.6%), from €943,832 to €315,593
- Staff costs +€135,397
up €135,397 (+27.3%), from €495,800 to €631,197
- Taxes +€75,195
up €75,195, from -€73,952 to €1,243
- Depreciation +€37,950
up €37,950 (+298%), from €12,740 to €50,690
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 | €2,222,241 | €2,069,716 | -€152,525 | -6.9% |
| Fixed assets | 21/28 | €29,520 | €233,741 | +€204,221 | +692% |
| Intangible fixed assets | 21 | - | €95,278 | +€95,278 | |
| Tangible fixed assets | 22/27 | €28,470 | €137,413 | +€108,943 | +383% |
| Plant, machinery and equipment | 23 | €15,878 | €37,881 | +€22,003 | +139% |
| Furniture and vehicles | 24 | €2,592 | €9,103 | +€6,511 | +251% |
| Other tangible fixed assets | 26 | - | €90,429 | +€90,429 | |
| Assets under construction and advance payments | 27 | €10,000 | €0 | -€10,000 | -100% |
| Financial fixed assets | 28 | €1,050 | €1,050 | = | 0.0% |
| Current assets | 29/58 | €2,192,720 | €1,835,975 | -€356,745 | -16.3% |
| Amounts receivable within one year | 40/41 | €1,578,796 | €529,349 | -€1.0m | -66.5% |
| Trade receivables | 40 | €1,441,834 | €481,510 | -€960,324 | -66.6% |
| Other amounts receivable | 41 | €136,962 | €47,839 | -€89,123 | -65.1% |
| Current investments | 50/53 | €14,068 | €14,207 | +€139 | +1.0% |
| Cash at bank and in hand | 54/58 | €583,012 | €1,277,853 | +€694,841 | +119% |
| Deferred charges and accrued income | 490/1 | €16,844 | €14,566 | -€2,278 | -13.5% |
| Total equity and liabilities | 10/49 | €2,222,241 | €2,069,716 | -€152,525 | -6.9% |
| Equity | 10/15 | €1,700,247 | €1,292,772 | -€407,475 | -24.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €1,625,247 | €1,217,772 | -€407,475 | -25.1% |
| Non-distributable reserves | 130/1 | €5,939 | €5,939 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,939 | €5,939 | = | 0.0% |
| Tax-exempt reserves | 132 | €168,400 | €84,200 | -€84,200 | -50.0% |
| Distributable reserves | 133 | €1,450,908 | €1,127,633 | -€323,275 | -22.3% |
| Amounts payable | 17/49 | €521,993 | €776,944 | +€254,951 | +48.8% |
| Amounts payable within one year | 42/48 | €521,993 | €759,138 | +€237,145 | +45.4% |
| Trade debts | 44 | €498,185 | €412,144 | -€86,041 | -17.3% |
| Suppliers | 440/4 | €498,185 | €412,144 | -€86,041 | -17.3% |
| Taxes, remuneration and social security | 45 | €1,202 | €324,263 | +€323,061 | +26,870% |
| Taxes | 450/3 | €0 | €323,184 | +€323,184 | |
| Remuneration and social security | 454/9 | €1,202 | €1,079 | -€124 | -10.3% |
| Other amounts payable | 47/48 | €22,606 | €22,731 | +€126 | +0.6% |
| Accrued charges and deferred income | 492/3 | €0 | €17,806 | +€17,806 | |
| Non-recurring operating income | 76A | €347 | €64,233 | +€63,886 | +18,400% |
| Remuneration, social security and pensions | 62 | €495,800 | €631,197 | +€135,397 | +27.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,740 | €50,690 | +€37,950 | +298% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Non-recurring operating charges | 66A | €533 | €10,213 | +€9,680 | +1,816% |
| Gross operating margin | 9900 | €943,832 | €315,593 | -€628,240 | -66.6% |
| Operating profit (loss) | 9901 | €433,792 | -€377,505 | -€811,297 | |
| Financial income | 75/76B | €3,974 | €1,976 | -€1,998 | -50.3% |
| Recurring financial income | 75 | €3,974 | €1,976 | -€1,998 | -50.3% |
| Financial charges | 65/66B | €26,301 | €30,703 | +€4,402 | +16.7% |
| Recurring financial charges | 65 | €26,301 | €30,703 | +€4,402 | +16.7% |
| Profit (loss) for the period before taxes | 9903 | €411,465 | -€406,232 | -€817,697 | |
| Income taxes | 67/77 | -€73,952 | €1,243 | +€75,195 | |
| Profit (loss) for the period | 9904 | €485,417 | -€407,475 | -€892,892 | |
| Transfer to tax-exempt reserves | 689 | €84,200 | €0 | -€84,200 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €401,217 | -€407,475 | -€808,692 |
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 31 October 2026 via checked.be.