TERMINUS: 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.
TERMINUS
Largest movements
- Receivables within one year -€1.1m
down €1.1m (-92.3%), from €1.2m to €94,118
of which Other amounts receivable: -€1.1m
- Cash -€489,077
down €489,077 (-97.9%), from €499,392 to €10,316
mainly Other debts (-€1.2m) and Tax, wage and social debts (-€371,834)
- Other debts -€1.2m
down €1.2m (-92.4%), from €1.3m to €97,544
- Tax, wage and social debts -€371,834
down €371,834 (-100.0%), from €371,834 to €0
of which Taxes: -€371,834
- Trade debts -€36,303
down €36,303 (-63.1%), from €57,553 to €21,249
- Contributions -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Gross operating margin -€1.6m
down €1.6m, from €1.6m to -€13,356
- Taxes -€385,662
down €385,662 (-100.0%), from €385,662 to €0
- Staff costs -€117,782
down €117,782 (-100.0%), from €117,782 to €0
- Financial income -€73,162
down €73,162 (-92.0%), from €79,523 to €6,361
- Other operating charges -€17,138
down €17,138 (-72.0%), from €23,810 to €6,672
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 | €1,731,397 | €104,434 | -€1.6m | -94.0% |
| Fixed assets | 21/28 | €13,855 | €0 | -€13,855 | -100.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €13,855 | €0 | -€13,855 | -100.0% |
| Furniture and vehicles | 24 | €13,855 | €0 | -€13,855 | -100.0% |
| Current assets | 29/58 | €1,717,542 | €104,434 | -€1.6m | -93.9% |
| Amounts receivable within one year | 40/41 | €1,218,150 | €94,118 | -€1.1m | -92.3% |
| Trade receivables | 40 | €8,808 | €22,210 | +€13,402 | +152.2% |
| Other amounts receivable | 41 | €1,209,342 | €71,908 | -€1.1m | -94.1% |
| Cash at bank and in hand | 54/58 | €499,392 | €10,316 | -€489,077 | -97.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,731,397 | €104,434 | -€1.6m | -94.0% |
| Equity | 10/15 | €20,711 | -€14,360 | -€35,071 | |
| Contributions | 10/11 | €20,000 | €0 | -€20,000 | -100.0% |
| Profit (loss) carried forward | 14 | €711 | -€14,360 | -€15,071 | |
| Amounts payable | 17/49 | €1,710,686 | €118,794 | -€1.6m | -93.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,710,686 | €118,794 | -€1.6m | -93.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €49 | €0 | -€49 | -100.0% |
| Credit institutions | 430/8 | €49 | €0 | -€49 | -100.0% |
| Trade debts | 44 | €57,553 | €21,249 | -€36,303 | -63.1% |
| Suppliers | 440/4 | €57,553 | €21,249 | -€36,303 | -63.1% |
| Taxes, remuneration and social security | 45 | €371,834 | €0 | -€371,834 | -100.0% |
| Taxes | 450/3 | €371,834 | €0 | -€371,834 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,281,250 | €97,544 | -€1.2m | -92.4% |
| Non-recurring operating income | 76A | €1,333,014 | €0 | -€1.3m | -100.0% |
| Remuneration, social security and pensions | 62 | €117,782 | €0 | -€117,782 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,618 | €0 | -€4,618 | -100.0% |
| Other operating charges | 640/8 | €23,810 | €6,672 | -€17,138 | -72.0% |
| Gross operating margin | 9900 | €1,610,738 | -€13,356 | -€1.6m | |
| Operating profit (loss) | 9901 | €1,464,528 | -€20,028 | -€1.5m | |
| Financial income | 75/76B | €79,523 | €6,361 | -€73,162 | -92.0% |
| Recurring financial income | 75 | €79,523 | €6,361 | -€73,162 | -92.0% |
| Financial charges | 65/66B | €13,878 | €1,404 | -€12,474 | -89.9% |
| Recurring financial charges | 65 | €13,878 | €1,404 | -€12,474 | -89.9% |
| Profit (loss) for the period before taxes | 9903 | €1,530,173 | -€15,071 | -€1.5m | |
| Income taxes | 67/77 | €385,662 | €0 | -€385,662 | -100.0% |
| Profit (loss) for the period | 9904 | €1,144,511 | -€15,071 | -€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,144,511 | -€15,071 | -€1.2m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.