TERSANA: 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.
TERSANA
Largest movements
- Cash +€304,630
up €304,630 (+6.2%), from €4.9m to €5.2m
mainly Debts within one year (+€444,770) and Accrued charges and deferred income (+€278,040)
- Receivables within one year +€211,789
up €211,789 (+70.2%), from €301,761 to €513,550
of which Trade receivables: +€229,120
- Debts within one year +€444,770
up €444,770 (+70.6%), from €629,837 to €1.1m
- Accrued charges and deferred income +€278,040
up €278,040 (+3.8%), from €7.3m to €7.6m
- Profit (loss) carried forward -€154,141
down €154,141 (-6.0%), from -€2.6m to -€2.7m
- Gross operating margin +€605,689
up €605,689, from -€1,368 to €604,321
- Financial charges +€283,682
up €283,682 (+10,603%), from €2,675 to €286,357
- Staff costs +€48,999
up €48,999 (+12.1%), from €403,704 to €452,703
- Financial income -€10,368
down €10,368 (-47.3%), from €21,909 to €11,542
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 | €5,336,329 | €5,904,998 | +€568,669 | +10.7% |
| Fixed assets | 21/28 | €64,614 | €121,716 | +€57,102 | +88.4% |
| Intangible fixed assets | 21 | €63,636 | €116,054 | +€52,418 | +82.4% |
| Tangible fixed assets | 22/27 | €978 | €5,662 | +€4,684 | +479% |
| Plant, machinery and equipment | 23 | - | €2,396 | +€2,396 | |
| Furniture and vehicles | 24 | €978 | €3,266 | +€2,288 | +234% |
| Current assets | 29/58 | €5,271,715 | €5,783,282 | +€511,567 | +9.7% |
| Amounts receivable within one year | 40/41 | €301,761 | €513,550 | +€211,789 | +70.2% |
| Trade receivables | 40 | €228,403 | €457,523 | +€229,120 | +100% |
| Other amounts receivable | 41 | €73,358 | €56,027 | -€17,331 | -23.6% |
| Cash at bank and in hand | 54/58 | €4,918,590 | €5,223,220 | +€304,630 | +6.2% |
| Deferred charges and accrued income | 490/1 | €51,364 | €46,512 | -€4,852 | -9.4% |
| Total equity and liabilities | 10/49 | €5,336,329 | €5,904,998 | +€568,669 | +10.7% |
| Equity | 10/15 | -€2,574,232 | -€2,728,373 | -€154,141 | -6.0% |
| Profit (loss) carried forward | 14 | -€2,574,232 | -€2,728,373 | -€154,141 | -6.0% |
| Amounts payable | 17/49 | €7,910,561 | €8,633,371 | +€722,811 | +9.1% |
| Amounts payable within one year | 42/48 | €629,837 | €1,074,607 | +€444,770 | +70.6% |
| Trade debts | 44 | €866 | €204,066 | +€203,200 | +23,466% |
| Suppliers | 440/4 | €866 | €204,066 | +€203,200 | +23,466% |
| Advances received on contracts in progress | 46 | €75,000 | €75,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €49,268 | €58,340 | +€9,073 | +18.4% |
| Taxes | 450/3 | €3,369 | €7,503 | +€4,133 | +123% |
| Remuneration and social security | 454/9 | €45,899 | €50,838 | +€4,939 | +10.8% |
| Accrued charges and deferred income | 492/3 | €7,280,724 | €7,558,764 | +€278,040 | +3.8% |
| Remuneration, social security and pensions | 62 | €403,704 | €452,703 | +€48,999 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,035 | €23,113 | +€4,079 | +21.4% |
| Other operating charges | 640/8 | €4,818 | €4,085 | -€733 | -15.2% |
| Non-recurring operating charges | 66A | €141,321 | - | -€141,321 | |
| Gross operating margin | 9900 | -€1,368 | €604,321 | +€605,689 | |
| Operating profit (loss) | 9901 | -€570,246 | €124,420 | +€694,666 | |
| Financial income | 75/76B | €21,909 | €11,542 | -€10,368 | -47.3% |
| Recurring financial income | 75 | €21,909 | €11,542 | -€10,368 | -47.3% |
| Financial charges | 65/66B | €2,675 | €286,357 | +€283,682 | +10,603% |
| Recurring financial charges | 65 | €2,675 | €286,357 | +€283,682 | +10,603% |
| Profit (loss) for the period before taxes | 9903 | -€551,012 | -€150,396 | +€400,616 | +72.7% |
| Income taxes | 67/77 | €6,501 | €3,746 | -€2,755 | -42.4% |
| Profit (loss) for the period | 9904 | -€557,513 | -€154,141 | +€403,371 | +72.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€557,513 | -€154,141 | +€403,371 | +72.4% |
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 23 October 2026 via checked.be.