TERMINALIA: 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.
TERMINALIA
Largest movements
- Receivables within one year -€79,886
down €79,886 (-44.3%), from €180,284 to €100,398
of which Trade receivables: -€80,844
- Intangible fixed assets -€17,737
down €17,737 (-24.5%), from €72,433 to €54,695
- Cash +€4,676
up €4,676 (+3539.2%), from €132 to €4,809
mainly Receivables within one year (+€79,886) and Depreciation (+€17,958)
- Trade debts -€70,494
down €70,494 (-99.0%), from €71,233 to €740
- Tax, wage and social debts -€20,605
down €20,605 (-80.9%), from €25,477 to €4,872
- Other debts -€6,448
down €6,448 (-4.4%), from €147,438 to €140,990
- Profit (loss) carried forward +€4,976
up €4,976 (+36.9%), from €13,498 to €18,474
- Gross operating margin -€9,363
down €9,363 (-19.1%), from €49,132 to €39,769
- Depreciation -€6,189
down €6,189 (-25.6%), from €24,146 to €17,958
- Taxes -€1,006
down €1,006 (-33.3%), from €3,024 to €2,018
- Financial charges +€788
up €788 (+6.2%), from €12,617 to €13,405
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 | €463,893 | €370,814 | -€93,079 | -20.1% |
| Fixed assets | 21/28 | €282,653 | €264,695 | -€17,958 | -6.4% |
| Intangible fixed assets | 21 | €72,433 | €54,695 | -€17,737 | -24.5% |
| Tangible fixed assets | 22/27 | €220 | - | -€220 | |
| Furniture and vehicles | 24 | €220 | - | -€220 | |
| Financial fixed assets | 28 | €210,000 | €210,000 | = | 0.0% |
| Current assets | 29/58 | €181,241 | €106,119 | -€75,122 | -41.4% |
| Amounts receivable within one year | 40/41 | €180,284 | €100,398 | -€79,886 | -44.3% |
| Trade receivables | 40 | €173,258 | €92,414 | -€80,844 | -46.7% |
| Other amounts receivable | 41 | €7,026 | €7,984 | +€958 | +13.6% |
| Cash at bank and in hand | 54/58 | €132 | €4,809 | +€4,676 | +3539.2% |
| Deferred charges and accrued income | 490/1 | €825 | €912 | +€88 | +10.6% |
| Total equity and liabilities | 10/49 | €463,893 | €370,814 | -€93,079 | -20.1% |
| Equity | 10/15 | €202,958 | €207,934 | +€4,976 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €170,860 | €170,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €169,000 | €169,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,498 | €18,474 | +€4,976 | +36.9% |
| Amounts payable | 17/49 | €260,935 | €162,880 | -€98,055 | -37.6% |
| Amounts payable within one year | 42/48 | €248,644 | €152,547 | -€96,097 | -38.6% |
| Financial debts | 43 | €4,496 | €5,946 | +€1,450 | +32.2% |
| Credit institutions | 430/8 | €4,496 | €5,946 | +€1,450 | +32.2% |
| Trade debts | 44 | €71,233 | €740 | -€70,494 | -99.0% |
| Suppliers | 440/4 | €71,233 | €740 | -€70,494 | -99.0% |
| Taxes, remuneration and social security | 45 | €25,477 | €4,872 | -€20,605 | -80.9% |
| Taxes | 450/3 | €25,477 | €4,872 | -€20,605 | -80.9% |
| Other amounts payable | 47/48 | €147,438 | €140,990 | -€6,448 | -4.4% |
| Accrued charges and deferred income | 492/3 | €12,291 | €10,333 | -€1,958 | -15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,146 | €17,958 | -€6,189 | -25.6% |
| Other operating charges | 640/8 | €387 | €580 | +€192 | +49.7% |
| Gross operating margin | 9900 | €49,132 | €39,769 | -€9,363 | -19.1% |
| Operating profit (loss) | 9901 | €24,598 | €21,232 | -€3,366 | -13.7% |
| Financial charges | 65/66B | €12,617 | €13,405 | +€788 | +6.2% |
| Recurring financial charges | 65 | €12,617 | €13,405 | +€788 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €11,981 | €7,827 | -€4,154 | -34.7% |
| Income taxes | 67/77 | €3,024 | €2,018 | -€1,006 | -33.3% |
| Profit (loss) for the period | 9904 | €8,957 | €5,809 | -€3,148 | -35.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,957 | €5,809 | -€3,148 | -35.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.