TERNO: 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.
TERNO
Largest movements
- Tangible fixed assets +€250,407
up €250,407 (+665.3%), from €37,638 to €288,045
of which Land and buildings: +€250,899
- Cash -€64,173
down €64,173 (-54.5%), from €117,739 to €53,566
mainly Investment in fixed assets (net) (-€255,000) and Deferred charges and accrued income (-€1,178)
- Trade debts +€154,569
up €154,569 (+26845.7%), from €576 to €155,145
- Reserves +€30,592
up €30,592 (+21.7%), from €141,073 to €171,665
- Gross operating margin -€2,859
down €2,859 (-4.8%), from €59,401 to €56,541
- Other operating charges +€1,265
up €1,265 (+13.5%), from €9,359 to €10,624
- Financial income +€1,109
up €1,109 (+2772475.0%), from €0 to €1,109
- Taxes +€1,054
up €1,054 (+9.1%), from €11,537 to €12,592
- Depreciation +€807
up €807 (+21.3%), from €3,785 to €4,593
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 | €161,420 | €346,005 | +€184,585 | +114.4% |
| Fixed assets | 21/28 | €37,638 | €288,045 | +€250,407 | +665.3% |
| Tangible fixed assets | 22/27 | €37,638 | €288,045 | +€250,407 | +665.3% |
| Land and buildings | 22 | €36,579 | €287,478 | +€250,899 | +685.9% |
| Other tangible fixed assets | 26 | €1,059 | €567 | -€492 | -46.4% |
| Current assets | 29/58 | €123,782 | €57,960 | -€65,822 | -53.2% |
| Amounts receivable within one year | 40/41 | €4,889 | €2,061 | -€2,827 | -57.8% |
| Other amounts receivable | 41 | €4,889 | €2,061 | -€2,827 | -57.8% |
| Cash at bank and in hand | 54/58 | €117,739 | €53,566 | -€64,173 | -54.5% |
| Deferred charges and accrued income | 490/1 | €1,155 | €2,333 | +€1,178 | +102.0% |
| Total equity and liabilities | 10/49 | €161,420 | €346,005 | +€184,585 | +114.4% |
| Equity | 10/15 | €159,673 | €190,265 | +€30,592 | +19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €141,073 | €171,665 | +€30,592 | +21.7% |
| Distributable reserves | 133 | €141,073 | €171,665 | +€30,592 | +21.7% |
| Amounts payable | 17/49 | €1,747 | €155,740 | +€153,993 | +8812.6% |
| Amounts payable within one year | 42/48 | €1,747 | €155,740 | +€153,993 | +8812.6% |
| Trade debts | 44 | €576 | €155,145 | +€154,569 | +26845.7% |
| Suppliers | 440/4 | €576 | €155,145 | +€154,569 | +26845.7% |
| Taxes, remuneration and social security | 45 | €1,152 | - | -€1,152 | |
| Taxes | 450/3 | €1,152 | - | -€1,152 | |
| Other amounts payable | 47/48 | €20 | €595 | +€576 | +2952.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,785 | €4,593 | +€807 | +21.3% |
| Other operating charges | 640/8 | €9,359 | €10,624 | +€1,265 | +13.5% |
| Gross operating margin | 9900 | €59,401 | €56,541 | -€2,859 | -4.8% |
| Operating profit (loss) | 9901 | €46,256 | €41,325 | -€4,931 | -10.7% |
| Financial income | 75/76B | €0 | €1,109 | +€1,109 | +2772475.0% |
| Recurring financial income | 75 | €0 | €1,109 | +€1,109 | +2772475.0% |
| Financial charges | 65/66B | €14 | -€750 | -€764 | |
| Recurring financial charges | 65 | €14 | -€750 | -€764 | |
| Profit (loss) for the period before taxes | 9903 | €46,242 | €43,184 | -€3,058 | -6.6% |
| Income taxes | 67/77 | €11,537 | €12,592 | +€1,054 | +9.1% |
| Profit (loss) for the period | 9904 | €34,704 | €30,592 | -€4,113 | -11.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,704 | €30,592 | -€4,113 | -11.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.