TERRIER & KEPPERS: 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.
TERRIER & KEPPERS
Largest movements
- Intangible fixed assets +€267,089
up €267,089 (+456%), from €58,539 to €325,629
- Cash +€69,543
up €69,543 (+72.5%), from €95,953 to €165,496
mainly Debts after one year (+€172,899) and Trade debts (+€88,074)
- Tangible fixed assets +€22,988
up €22,988 (+147%), from €15,607 to €38,595
of which Plant, machinery and equipment: +€18,574
- Receivables within one year -€6,673
down €6,673 (-13.3%), from €50,155 to €43,482
of which Other amounts receivable: -€14,481
- Debts after one year +€172,899
up €172,899 (+409%), from €42,236 to €215,136
- Trade debts +€88,074
up €88,074 (+5,009%), from €1,758 to €89,832
- Profit (loss) carried forward +€36,366
up €36,366 (+75.3%), from €48,326 to €84,692
- Current portion of long-term debt +€32,540
up €32,540 (+217%), from €14,998 to €47,537
- Tax, wage and social debts +€24,244
up €24,244 (+374%), from €6,476 to €30,721
of which Remuneration and social security: +€21,970
- Gross operating margin +€133,021
up €133,021 (+70.6%), from €188,512 to €321,533
- Staff costs +€89,156
up €89,156 (+112%), from €79,657 to €168,813
- Depreciation +€33,797
up €33,797 (+161%), from €20,999 to €54,796
- Financial charges +€5,501
up €5,501 (+233%), from €2,363 to €7,863
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 | €222,100 | €576,091 | +€353,992 | +159% |
| Fixed assets | 21/28 | €74,147 | €364,223 | +€290,077 | +391% |
| Intangible fixed assets | 21 | €58,539 | €325,629 | +€267,089 | +456% |
| Tangible fixed assets | 22/27 | €15,607 | €38,595 | +€22,988 | +147% |
| Land and buildings | 22 | €8,470 | €8,470 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,133 | €22,707 | +€18,574 | +449% |
| Furniture and vehicles | 24 | €3,004 | €7,417 | +€4,413 | +147% |
| Current assets | 29/58 | €147,953 | €211,868 | +€63,915 | +43.2% |
| Amounts receivable within one year | 40/41 | €50,155 | €43,482 | -€6,673 | -13.3% |
| Trade receivables | 40 | €35,143 | €42,952 | +€7,808 | +22.2% |
| Other amounts receivable | 41 | €15,011 | €530 | -€14,481 | -96.5% |
| Cash at bank and in hand | 54/58 | €95,953 | €165,496 | +€69,543 | +72.5% |
| Deferred charges and accrued income | 490/1 | €1,845 | €2,890 | +€1,044 | +56.6% |
| Total equity and liabilities | 10/49 | €222,100 | €576,091 | +€353,992 | +159% |
| Equity | 10/15 | €115,976 | €152,342 | +€36,366 | +31.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,326 | €84,692 | +€36,366 | +75.3% |
| Amounts payable | 17/49 | €106,124 | €423,749 | +€317,626 | +299% |
| Amounts payable after more than one year | 17 | €42,236 | €215,136 | +€172,899 | +409% |
| Financial debts | 170/4 | €42,236 | €215,136 | +€172,899 | +409% |
| Amounts payable within one year | 42/48 | €63,887 | €208,614 | +€144,726 | +227% |
| Current portion of amounts payable after more than one year | 42 | €14,998 | €47,537 | +€32,540 | +217% |
| Trade debts | 44 | €1,758 | €89,832 | +€88,074 | +5,009% |
| Suppliers | 440/4 | €1,758 | €89,832 | +€88,074 | +5,009% |
| Taxes, remuneration and social security | 45 | €6,476 | €30,721 | +€24,244 | +374% |
| Taxes | 450/3 | €1,750 | €4,024 | +€2,274 | +130% |
| Remuneration and social security | 454/9 | €4,727 | €26,697 | +€21,970 | +465% |
| Other amounts payable | 47/48 | €40,655 | €40,524 | -€131 | -0.3% |
| Remuneration, social security and pensions | 62 | €79,657 | €168,813 | +€89,156 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,999 | €54,796 | +€33,797 | +161% |
| Other operating charges | 640/8 | €7,161 | €6,141 | -€1,020 | -14.2% |
| Gross operating margin | 9900 | €188,512 | €321,533 | +€133,021 | +70.6% |
| Operating profit (loss) | 9901 | €80,696 | €91,783 | +€11,087 | +13.7% |
| Financial income | 75/76B | €295 | €781 | +€486 | +165% |
| Recurring financial income | 75 | €295 | €781 | +€486 | +165% |
| Financial charges | 65/66B | €2,363 | €7,863 | +€5,501 | +233% |
| Recurring financial charges | 65 | €2,363 | €7,863 | +€5,501 | +233% |
| Profit (loss) for the period before taxes | 9903 | €78,629 | €84,701 | +€6,072 | +7.7% |
| Income taxes | 67/77 | €11,010 | €13,335 | +€2,325 | +21.1% |
| Profit (loss) for the period | 9904 | €67,619 | €71,366 | +€3,747 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €67,619 | €71,366 | +€3,747 | +5.5% |
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 1 November 2026 via checked.be.