Terrijn Classics: 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.
Terrijn Classics
Largest movements
- Receivables within one year -€261,321
down €261,321 (-89.0%), from €293,610 to €32,289
of which Trade receivables: -€261,321
- Cash +€144,512
up €144,512 (+175%), from €82,770 to €227,282
mainly Receivables within one year (+€261,321) and Net result for the year (+€91,343)
- Stocks and contracts +€29,322
up €29,322 (+51.6%), from €56,815 to €86,137
- Tangible fixed assets +€12,290
up €12,290 (+16.1%), from €76,316 to €88,606
of which Furniture and vehicles: +€19,113
- Trade debts -€199,872
down €199,872 (-70.6%), from €282,910 to €83,038
- Reserves +€91,400
up €91,400 (+156%), from €58,700 to €150,100
- Tax, wage and social debts +€32,892
up €32,892 (+43.7%), from €75,311 to €108,203
of which Taxes: +€24,609
- Advances received +€9,029
new in 2025: €9,029
- Debts after one year -€8,064
down €8,064 (-38.2%), from €21,106 to €13,042
- Gross operating margin +€132,077
up €132,077 (+45.4%), from €290,944 to €423,020
- Staff costs +€71,049
up €71,049 (+34.6%), from €205,310 to €276,359
- Taxes +€15,345
up €15,345 (+118%), from €13,000 to €28,345
- Depreciation +€6,165
up €6,165 (+45.5%), from €13,537 to €19,701
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 | €510,690 | €435,211 | -€75,479 | -14.8% |
| Fixed assets | 21/28 | €76,712 | €88,802 | +€12,090 | +15.8% |
| Intangible fixed assets | 21 | €396 | €196 | -€200 | -50.5% |
| Tangible fixed assets | 22/27 | €76,316 | €88,606 | +€12,290 | +16.1% |
| Plant, machinery and equipment | 23 | €14,861 | €10,514 | -€4,347 | -29.2% |
| Furniture and vehicles | 24 | €604 | €19,718 | +€19,113 | +3,162% |
| Other tangible fixed assets | 26 | €60,850 | €58,374 | -€2,477 | -4.1% |
| Current assets | 29/58 | €433,978 | €346,409 | -€87,569 | -20.2% |
| Stocks and contracts in progress | 3 | €56,815 | €86,137 | +€29,322 | +51.6% |
| Stocks | 30/36 | €56,815 | €86,137 | +€29,322 | +51.6% |
| Amounts receivable within one year | 40/41 | €293,610 | €32,289 | -€261,321 | -89.0% |
| Trade receivables | 40 | €293,110 | €31,789 | -€261,321 | -89.2% |
| Other amounts receivable | 41 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €82,770 | €227,282 | +€144,512 | +175% |
| Deferred charges and accrued income | 490/1 | €783 | €701 | -€82 | -10.4% |
| Total equity and liabilities | 10/49 | €510,690 | €435,211 | -€75,479 | -14.8% |
| Equity | 10/15 | €68,799 | €160,142 | +€91,343 | +133% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €58,700 | €150,100 | +€91,400 | +156% |
| Distributable reserves | 133 | €58,700 | €150,100 | +€91,400 | +156% |
| Profit (loss) carried forward | 14 | €99 | €42 | -€57 | -57.6% |
| Amounts payable | 17/49 | €441,891 | €275,069 | -€166,822 | -37.8% |
| Amounts payable after more than one year | 17 | €21,106 | €13,042 | -€8,064 | -38.2% |
| Financial debts | 170/4 | €21,106 | €13,042 | -€8,064 | -38.2% |
| Amounts payable within one year | 42/48 | €419,585 | €259,006 | -€160,579 | -38.3% |
| Current portion of amounts payable after more than one year | 42 | €7,933 | €8,064 | +€131 | +1.7% |
| Financial debts | 43 | €35,000 | €35,000 | = | 0.0% |
| Other loans | 439 | €35,000 | €35,000 | = | 0.0% |
| Trade debts | 44 | €282,910 | €83,038 | -€199,872 | -70.6% |
| Suppliers | 440/4 | €282,910 | €83,038 | -€199,872 | -70.6% |
| Advances received on contracts in progress | 46 | - | €9,029 | +€9,029 | |
| Taxes, remuneration and social security | 45 | €75,311 | €108,203 | +€32,892 | +43.7% |
| Taxes | 450/3 | €28,848 | €53,457 | +€24,609 | +85.3% |
| Remuneration and social security | 454/9 | €46,463 | €54,746 | +€8,283 | +17.8% |
| Other amounts payable | 47/48 | €18,430 | €15,672 | -€2,758 | -15.0% |
| Accrued charges and deferred income | 492/3 | €1,200 | €3,021 | +€1,821 | +152% |
| Remuneration, social security and pensions | 62 | €205,310 | €276,359 | +€71,049 | +34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,537 | €19,701 | +€6,165 | +45.5% |
| Other operating charges | 640/8 | €3,973 | €4,218 | +€245 | +6.2% |
| Gross operating margin | 9900 | €290,944 | €423,020 | +€132,077 | +45.4% |
| Operating profit (loss) | 9901 | €68,124 | €122,742 | +€54,619 | +80.2% |
| Financial income | 75/76B | €268 | €12 | -€256 | -95.4% |
| Recurring financial income | 75 | €268 | €12 | -€256 | -95.4% |
| Financial charges | 65/66B | €4,656 | €3,067 | -€1,589 | -34.1% |
| Recurring financial charges | 65 | €4,656 | €3,067 | -€1,589 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €63,735 | €119,688 | +€55,952 | +87.8% |
| Income taxes | 67/77 | €13,000 | €28,345 | +€15,345 | +118% |
| Profit (loss) for the period | 9904 | €50,735 | €91,343 | +€40,608 | +80.0% |
| Profit (loss) for the period to be appropriated | 9905 | €50,735 | €91,343 | +€40,608 | +80.0% |
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 19 October 2026 via checked.be.