TERNADA: 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.
TERNADA
Largest movements
- Tangible fixed assets -€17,657
down €17,657 (-7.4%), from €237,609 to €219,951
of which Land and buildings: -€19,341
- Cash +€12,037
up €12,037 (+294.2%), from €4,091 to €16,128
mainly Depreciation (+€19,445) and Net result for the year (+€8,353)
- Receivables within one year +€8,650
new in 2025: €8,650
of which Other amounts receivable: +€8,350
- Reserves +€7,000
up €7,000 (+7.6%), from €91,678 to €98,678
of which Distributable reserves: +€7,000
- Other debts -€3,628
down €3,628 (-6.4%), from €56,314 to €52,685
- Gross operating margin +€6,741
up €6,741 (+20.6%), from €32,704 to €39,444
- Depreciation -€4,996
down €4,996 (-20.4%), from €24,441 to €19,445
- Taxes +€2,359
up €2,359 (+215.6%), from €1,094 to €3,453
- Other operating charges +€1,579
up €1,579 (+24.3%), from €6,489 to €8,068
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 | €286,897 | €289,926 | +€3,030 | +1.1% |
| Fixed assets | 21/28 | €237,609 | €219,951 | -€17,657 | -7.4% |
| Tangible fixed assets | 22/27 | €237,609 | €219,951 | -€17,657 | -7.4% |
| Land and buildings | 22 | €237,315 | €217,974 | -€19,341 | -8.1% |
| Furniture and vehicles | 24 | €293 | €1,977 | +€1,684 | +573.8% |
| Current assets | 29/58 | €49,288 | €69,975 | +€20,687 | +42.0% |
| Amounts receivable within one year | 40/41 | - | €8,650 | +€8,650 | |
| Trade receivables | 40 | - | €300 | +€300 | |
| Other amounts receivable | 41 | - | €8,350 | +€8,350 | |
| Current investments | 50/53 | €45,197 | €45,197 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,091 | €16,128 | +€12,037 | +294.2% |
| Total equity and liabilities | 10/49 | €286,897 | €289,926 | +€3,030 | +1.1% |
| Equity | 10/15 | €145,088 | €153,441 | +€8,353 | +5.8% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €91,678 | €98,678 | +€7,000 | +7.6% |
| Non-distributable reserves | 130/1 | €47,900 | €47,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Other | 1319 | €46,000 | €46,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,378 | €8,378 | = | 0.0% |
| Distributable reserves | 133 | €35,400 | €42,400 | +€7,000 | +19.8% |
| Profit (loss) carried forward | 14 | €34,410 | €35,763 | +€1,353 | +3.9% |
| Amounts payable | 17/49 | €141,809 | €136,485 | -€5,323 | -3.8% |
| Amounts payable after more than one year | 17 | €83,800 | €83,800 | = | 0.0% |
| Other amounts payable | 178/9 | €83,800 | €83,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €58,009 | €52,685 | -€5,323 | -9.2% |
| Taxes, remuneration and social security | 45 | €1,695 | - | -€1,695 | |
| Taxes | 450/3 | €1,695 | - | -€1,695 | |
| Other amounts payable | 47/48 | €56,314 | €52,685 | -€3,628 | -6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,441 | €19,445 | -€4,996 | -20.4% |
| Other operating charges | 640/8 | €6,489 | €8,068 | +€1,579 | +24.3% |
| Gross operating margin | 9900 | €32,704 | €39,444 | +€6,741 | +20.6% |
| Operating profit (loss) | 9901 | €1,774 | €11,932 | +€10,158 | +572.7% |
| Financial charges | 65/66B | €173 | €126 | -€47 | -27.1% |
| Recurring financial charges | 65 | €173 | €126 | -€47 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €1,601 | €11,806 | +€10,205 | +637.3% |
| Income taxes | 67/77 | €1,094 | €3,453 | +€2,359 | +215.6% |
| Profit (loss) for the period | 9904 | €507 | €8,353 | +€7,846 | +1547.2% |
| Profit (loss) for the period to be appropriated | 9905 | €507 | €8,353 | +€7,846 | +1547.2% |
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 10 October 2026 via checked.be.