TERNIER: 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.
TERNIER
Largest movements
- Cash -€47,258
down €47,258 (-12.8%), from €370,288 to €323,030
mainly Other debts (-€93,553) and Contributions, distributions and other (-€80,000)
- Reserves +€100,000
up €100,000 (+14.5%), from €690,919 to €790,919
of which Distributable reserves: +€100,000
- Other debts -€93,553
down €93,553 (-31.7%), from €295,430 to €201,877
- Tax, wage and social debts -€51,326
down €51,326 (-55.1%), from €93,145 to €41,819
of which Taxes: -€49,674
- Profit (loss) carried forward +€36,731
up €36,731 (+11.0%), from €334,591 to €371,323
- Trade debts -€35,888
down €35,888 (-98.3%), from €36,493 to €604
- Gross operating margin +€85,476
up €85,476 (+13.6%), from €629,907 to €715,383
- Staff costs +€23,710
up €23,710 (+12.9%), from €183,435 to €207,144
- Taxes +€21,194
up €21,194 (+28.9%), from €73,429 to €94,623
- Other operating charges -€12,607
down €12,607 (-8.2%), from €154,096 to €141,489
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 | €1,558,989 | €1,507,815 | -€51,175 | -3.3% |
| Fixed assets | 21/28 | €1,172,608 | €1,168,525 | -€4,082 | -0.3% |
| Tangible fixed assets | 22/27 | €1,172,608 | €1,168,525 | -€4,082 | -0.3% |
| Land and buildings | 22 | €1,107,756 | €1,087,391 | -€20,364 | -1.8% |
| Plant, machinery and equipment | 23 | €26,206 | €11,231 | -€14,975 | -57.1% |
| Furniture and vehicles | 24 | €38,646 | €69,904 | +€31,258 | +80.9% |
| Current assets | 29/58 | €386,382 | €339,289 | -€47,092 | -12.2% |
| Stocks and contracts in progress | 3 | €3,357 | €3,857 | +€500 | +14.9% |
| Stocks | 30/36 | €3,357 | €3,857 | +€500 | +14.9% |
| Amounts receivable within one year | 40/41 | €12,737 | €12,403 | -€334 | -2.6% |
| Trade receivables | 40 | €2,065 | €1,212 | -€853 | -41.3% |
| Other amounts receivable | 41 | €10,673 | €11,191 | +€519 | +4.9% |
| Cash at bank and in hand | 54/58 | €370,288 | €323,030 | -€47,258 | -12.8% |
| Total equity and liabilities | 10/49 | €1,558,989 | €1,507,815 | -€51,175 | -3.3% |
| Equity | 10/15 | €1,075,510 | €1,212,241 | +€136,731 | +12.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €690,919 | €790,919 | +€100,000 | +14.5% |
| Tax-exempt reserves | 132 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €670,919 | €770,919 | +€100,000 | +14.9% |
| Profit (loss) carried forward | 14 | €334,591 | €371,323 | +€36,731 | +11.0% |
| Amounts payable | 17/49 | €483,479 | €295,574 | -€187,906 | -38.9% |
| Amounts payable after more than one year | 17 | €51,343 | €43,510 | -€7,833 | -15.3% |
| Financial debts | 170/4 | €51,343 | €43,510 | -€7,833 | -15.3% |
| Amounts payable within one year | 42/48 | €432,136 | €252,064 | -€180,073 | -41.7% |
| Current portion of amounts payable after more than one year | 42 | €7,069 | €7,764 | +€695 | +9.8% |
| Trade debts | 44 | €36,493 | €604 | -€35,888 | -98.3% |
| Suppliers | 440/4 | €36,493 | €604 | -€35,888 | -98.3% |
| Taxes, remuneration and social security | 45 | €93,145 | €41,819 | -€51,326 | -55.1% |
| Taxes | 450/3 | €86,376 | €36,702 | -€49,674 | -57.5% |
| Remuneration and social security | 454/9 | €6,769 | €5,117 | -€1,652 | -24.4% |
| Other amounts payable | 47/48 | €295,430 | €201,877 | -€93,553 | -31.7% |
| Non-recurring operating income | 76A | - | €10,500 | +€10,500 | |
| Remuneration, social security and pensions | 62 | €183,435 | €207,144 | +€23,710 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,088 | €51,582 | +€2,494 | +5.1% |
| Other operating charges | 640/8 | €154,096 | €141,489 | -€12,607 | -8.2% |
| Non-recurring operating charges | 66A | €17,850 | - | -€17,850 | |
| Gross operating margin | 9900 | €629,907 | €715,383 | +€85,476 | +13.6% |
| Operating profit (loss) | 9901 | €225,439 | €315,168 | +€89,729 | +39.8% |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €2,060 | €3,813 | +€1,753 | +85.1% |
| Recurring financial charges | 65 | €2,060 | €3,813 | +€1,753 | +85.1% |
| Profit (loss) for the period before taxes | 9903 | €223,379 | €311,354 | +€87,975 | +39.4% |
| Income taxes | 67/77 | €73,429 | €94,623 | +€21,194 | +28.9% |
| Profit (loss) for the period | 9904 | €149,950 | €216,731 | +€66,781 | +44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €149,950 | €216,731 | +€66,781 | +44.5% |
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 30 October 2026 via checked.be.