TERNAT PAINT: 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.
TERNAT PAINT
Largest movements
- Receivables within one year +€56,782
up €56,782 (+463%), from €12,254 to €69,036
of which Other amounts receivable: +€42,621
- Cash -€26,944
down €26,944 (-32.4%), from €83,079 to €56,135
mainly Receivables within one year (-€56,782) and Debts after one year (-€31,559)
- Tangible fixed assets -€13,904
down €13,904 (-18.2%), from €76,385 to €62,481
- Stocks and contracts -€8,008
down €8,008 (-8.9%), from €89,476 to €81,469
- Deferred charges and accrued income -€2,962
down €2,962 (-30.3%), from €9,788 to €6,826
- Reserves +€54,000
up €54,000 (+34.7%), from €155,500 to €209,500
- Debts after one year -€31,559
down €31,559 (-90.2%), from €34,997 to €3,438
- Tax, wage and social debts -€22,820
down €22,820 (-56.4%), from €40,480 to €17,660
of which Taxes: -€18,167
- Short-term financial debts +€3,374
new in 2025: €3,374
- Gross operating margin +€51,260
up €51,260 (+47.7%), from €107,532 to €158,792
- Taxes +€15,033
up €15,033 (+202%), from €7,432 to €22,465
- Staff costs -€10,638
down €10,638 (-15.6%), from €68,030 to €57,392
- Write-downs +€5,159
new in 2025: €5,159
- Financial income +€3,207
up €3,207 (+50.7%), from €6,330 to €9,537
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 | €271,288 | €276,253 | +€4,965 | +1.8% |
| Fixed assets | 21/28 | €76,691 | €62,787 | -€13,904 | -18.1% |
| Tangible fixed assets | 22/27 | €76,385 | €62,481 | -€13,904 | -18.2% |
| Land and buildings | 22 | €52,571 | €47,442 | -€5,129 | -9.8% |
| Plant, machinery and equipment | 23 | €13,577 | €8,213 | -€5,364 | -39.5% |
| Furniture and vehicles | 24 | €7,305 | €4,300 | -€3,005 | -41.1% |
| Other tangible fixed assets | 26 | €2,932 | €2,525 | -€407 | -13.9% |
| Financial fixed assets | 28 | €306 | €306 | = | 0.0% |
| Current assets | 29/58 | €194,597 | €213,466 | +€18,869 | +9.7% |
| Stocks and contracts in progress | 3 | €89,476 | €81,469 | -€8,008 | -8.9% |
| Stocks | 30/36 | €89,476 | €81,469 | -€8,008 | -8.9% |
| Amounts receivable within one year | 40/41 | €12,254 | €69,036 | +€56,782 | +463% |
| Trade receivables | 40 | €3,430 | €17,591 | +€14,161 | +413% |
| Other amounts receivable | 41 | €8,824 | €51,445 | +€42,621 | +483% |
| Cash at bank and in hand | 54/58 | €83,079 | €56,135 | -€26,944 | -32.4% |
| Deferred charges and accrued income | 490/1 | €9,788 | €6,826 | -€2,962 | -30.3% |
| Total equity and liabilities | 10/49 | €271,288 | €276,253 | +€4,965 | +1.8% |
| Equity | 10/15 | €155,589 | €210,329 | +€54,740 | +35.2% |
| Reserves | 13 | €155,500 | €209,500 | +€54,000 | +34.7% |
| Distributable reserves | 133 | €155,500 | €209,500 | +€54,000 | +34.7% |
| Profit (loss) carried forward | 14 | €89 | €829 | +€740 | +832% |
| Amounts payable | 17/49 | €115,699 | €65,924 | -€49,775 | -43.0% |
| Amounts payable after more than one year | 17 | €34,997 | €3,438 | -€31,559 | -90.2% |
| Financial debts | 170/4 | €34,997 | €3,438 | -€31,559 | -90.2% |
| Amounts payable within one year | 42/48 | €80,702 | €62,395 | -€18,307 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | €29,763 | €31,560 | +€1,797 | +6.0% |
| Financial debts | 43 | - | €3,374 | +€3,374 | |
| Credit institutions | 430/8 | - | €3,374 | +€3,374 | |
| Trade debts | 44 | €8,793 | €8,135 | -€658 | -7.5% |
| Suppliers | 440/4 | €8,793 | €8,135 | -€658 | -7.5% |
| Taxes, remuneration and social security | 45 | €40,480 | €17,660 | -€22,820 | -56.4% |
| Taxes | 450/3 | €32,424 | €14,257 | -€18,167 | -56.0% |
| Remuneration and social security | 454/9 | €8,056 | €3,403 | -€4,653 | -57.8% |
| Other amounts payable | 47/48 | €1,666 | €1,666 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €91 | +€91 | |
| Non-recurring operating income | 76A | €495 | €31,509 | +€31,014 | +6,265% |
| Remuneration, social security and pensions | 62 | €68,030 | €57,392 | -€10,638 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,721 | €15,583 | -€1,138 | -6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,159 | +€5,159 | |
| Other operating charges | 640/8 | €4,790 | €2,068 | -€2,722 | -56.8% |
| Non-recurring operating charges | 66A | - | €5,453 | +€5,453 | |
| Gross operating margin | 9900 | €107,532 | €158,792 | +€51,260 | +47.7% |
| Operating profit (loss) | 9901 | €17,991 | €73,138 | +€55,147 | +307% |
| Financial income | 75/76B | €6,330 | €9,537 | +€3,207 | +50.7% |
| Recurring financial income | 75 | €6,330 | €9,537 | +€3,207 | +50.7% |
| Financial charges | 65/66B | €3,196 | €3,804 | +€608 | +19.0% |
| Recurring financial charges | 65 | €3,196 | €3,804 | +€608 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €21,125 | €78,871 | +€57,746 | +273% |
| Income taxes | 67/77 | €7,432 | €22,465 | +€15,033 | +202% |
| Profit (loss) for the period | 9904 | €13,693 | €56,406 | +€42,713 | +312% |
| Profit (loss) for the period to be appropriated | 9905 | €13,693 | €56,406 | +€42,713 | +312% |
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 14 October 2026 via checked.be.