TERNEO: 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.
TERNEO
Largest movements
- Stocks and contracts -€190,543
down €190,543 (-4.4%), from €4.3m to €4.1m
- Cash +€118,333
up €118,333 (+486%), from €24,326 to €142,659
mainly Other debts (+€257,000) and Stocks and contracts (+€190,543)
- Other debts +€257,000
up €257,000 (+45.8%), from €561,000 to €818,000
- Short-term financial debts -€220,000
down €220,000 (-8.3%), from €2.7m to €2.4m
- Trade debts -€71,787
down €71,787 (-98.6%), from €72,801 to €1,014
- Profit (loss) carried forward -€51,336
down €51,336 (-20.8%), from -€246,545 to -€297,880
- Gross operating margin +€66,172
up €66,172 (+98.5%), from €67,191 to €133,363
- Financial charges -€39,656
down €39,656 (-17.9%), from €221,627 to €181,971
- Other operating charges +€7,564
up €7,564 (+2,195%), from €345 to €7,909
- Financial income +€1,884
up €1,884 (+57.2%), from €3,296 to €5,181
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 | €4,562,880 | €4,474,421 | -€88,459 | -1.9% |
| Fixed assets | 21/28 | €3,500 | €3,500 | = | 0.0% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €4,559,380 | €4,470,921 | -€88,459 | -1.9% |
| Stocks and contracts in progress | 3 | €4,327,501 | €4,136,958 | -€190,543 | -4.4% |
| Stocks | 30/36 | €4,327,501 | €4,136,958 | -€190,543 | -4.4% |
| Amounts receivable within one year | 40/41 | €206,005 | €191,304 | -€14,701 | -7.1% |
| Trade receivables | 40 | €167,256 | €0 | -€167,256 | -100% |
| Other amounts receivable | 41 | €38,749 | €191,304 | +€152,555 | +394% |
| Cash at bank and in hand | 54/58 | €24,326 | €142,659 | +€118,333 | +486% |
| Deferred charges and accrued income | 490/1 | €1,548 | €0 | -€1,548 | -100% |
| Total equity and liabilities | 10/49 | €4,562,880 | €4,474,421 | -€88,459 | -1.9% |
| Equity | 10/15 | -€236,545 | -€287,880 | -€51,336 | -21.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€246,545 | -€297,880 | -€51,336 | -20.8% |
| Amounts payable | 17/49 | €4,799,425 | €4,762,301 | -€37,124 | -0.8% |
| Amounts payable after more than one year | 17 | €1,506,000 | €1,506,000 | = | 0.0% |
| Financial debts | 170/4 | €1,506,000 | €1,506,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,283,801 | €3,249,014 | -€34,787 | -1.1% |
| Financial debts | 43 | €2,650,000 | €2,430,000 | -€220,000 | -8.3% |
| Credit institutions | 430/8 | €2,650,000 | €2,430,000 | -€220,000 | -8.3% |
| Trade debts | 44 | €72,801 | €1,014 | -€71,787 | -98.6% |
| Suppliers | 440/4 | €72,801 | €1,014 | -€71,787 | -98.6% |
| Other amounts payable | 47/48 | €561,000 | €818,000 | +€257,000 | +45.8% |
| Accrued charges and deferred income | 492/3 | €9,624 | €7,287 | -€2,337 | -24.3% |
| Other operating charges | 640/8 | €345 | €7,909 | +€7,564 | +2,195% |
| Gross operating margin | 9900 | €67,191 | €133,363 | +€66,172 | +98.5% |
| Operating profit (loss) | 9901 | €66,847 | €125,455 | +€58,608 | +87.7% |
| Financial income | 75/76B | €3,296 | €5,181 | +€1,884 | +57.2% |
| Recurring financial income | 75 | €3,296 | €5,181 | +€1,884 | +57.2% |
| Financial charges | 65/66B | €221,627 | €181,971 | -€39,656 | -17.9% |
| Recurring financial charges | 65 | €221,627 | €181,971 | -€39,656 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | -€151,484 | -€51,336 | +€100,148 | +66.1% |
| Profit (loss) for the period | 9904 | -€151,484 | -€51,336 | +€100,148 | +66.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€151,484 | -€51,336 | +€100,148 | +66.1% |
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 13 October 2026 via checked.be.