Terval: 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.
What changed
Terval
NACE 46.810, Wholesale of solid, liquid and gaseous fuels and related products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€5.7m
2024 · €11.1m-€5.4m
Equity
€29.4m
2024 · €24.7m+€4.7m
Cash
€7.5m
2024 · €4.5m+€3.0m
Balance sheet total
€78.1m
2024 · €70.3m+€7.8m
Largest movements
Assets
- Receivables within one year +€3.5m
up €3.5m (+13.5%), from €26.0m to €29.6m
of which Other amounts receivable: +€2.2m
- Cash +€3.0m
up €3.0m (+67.3%), from €4.5m to €7.5m
mainly Trade debts (+€10.2m) and Net result for the year (+€5.7m)
- Tangible fixed assets +€2.6m
up €2.6m (+130.1%), from €2.0m to €4.6m
of which Assets under construction and advance payments: +€2.0m
- Stocks and contracts -€802,024
down €802,024 (-2.7%), from €29.6m to €28.8m
Equity and liabilities
- Trade debts +€10.2m
up €10.2m (+102.0%), from €10.0m to €20.3m
- Reserves +€5.0m
up €5.0m (+21.6%), from €23.1m to €28.1m
of which Distributable reserves: +€5.0m
- Debts after one year -€3.0m
down €3.0m (-12.1%), from €24.6m to €21.6m
of which Other amounts payable: -€5.0m
- Other debts -€2.5m
down €2.5m (-100.0%), from €2.5m to €0
- Provisions -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
Income statement
- Goods and materials +€34.6m
up €34.6m (+40.9%), from €84.4m to €119.0m
of which Purchases: +€25.8m
- Turnover +€29.5m
up €29.5m (+27.7%), from €106.4m to €135.9m
- Taxes -€2.1m
down €2.1m (-58.1%), from €3.7m to €1.5m
of which Taxes: -€2.2m
- Financial income -€2.0m
down €2.0m (-86.0%), from €2.3m to €320,915
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.
Result 2024
€11.1m
Turnover
+€29.5m
Other operating income
-€38,494
Goods and materials
-€34.6m
Services and other goods
-€835,514
Staff costs
-€44,169
Depreciation
+€81,927
Write-downs
+€469,330
Other operating charges
-€104,156
Financial income
-€2.0m
Financial charges
-€44,125
Taxes
+€2.1m
Result 2025
€5.7m
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.
From operations
+€9.9m
Investment
-€2.7m
Financing
-€4.2m
Cash 2024
€4.5m
From operations (derived)
+€9.9m
Net result for the year
+€5.7m
Depreciation
+€332,494
Stocks and contracts
+€802,024
Receivables within one year
-€3.5m
Deferred charges and accrued income
+€307,945
Provisions
-€1.3m
Trade debts
+€10.2m
Tax, wage and social debts
-€45,555
Other debts
-€2.5m
Accrued charges and deferred income
-€242,156
Investment (derived)
-€2.7m
Investment in fixed assets (net)
-€2.7m
Current investments
+€14,252
Financing
-€4.2m
Debts after one year
-€3.0m
Current portion of long-term debt
+€503,107
Short-term financial debts
-€671,332
Contributions, distributions and other
-€1.0m
Cash 2025
€7.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €70,314,514 | €78,103,794 | +€7.8m | +11.1% |
| Fixed assets | 21/28 | €9,786,987 | €12,156,942 | +€2.4m | +24.2% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,978,792 | €4,553,125 | +€2.6m | +130.1% |
| Land and buildings | 22 | - | €0 | = | |
| Plant, machinery and equipment | 23 | €43,509 | €28,402 | -€15,107 | -34.7% |
| Furniture and vehicles | 24 | €176,516 | €90,453 | -€86,064 | -48.8% |
| Other tangible fixed assets | 26 | €1,619,114 | €2,278,617 | +€659,504 | +40.7% |
| Assets under construction and advance payments | 27 | €139,653 | €2,155,653 | +€2.0m | +1443.6% |
| Financial fixed assets | 28 | €7,808,196 | €7,603,817 | -€204,379 | -2.6% |
| Affiliated companies | 280/1 | €6,816,593 | €6,816,593 | = | 0.0% |
| Participating interests | 280 | €6,816,593 | €6,816,593 | = | 0.0% |
| Other financial fixed assets | 284/8 | €991,603 | €787,224 | -€204,379 | -20.6% |
| Amounts receivable and cash guarantees | 285/8 | €991,603 | €787,224 | -€204,379 | -20.6% |
| Current assets | 29/58 | €60,527,527 | €65,946,852 | +€5.4m | +9.0% |
| Stocks and contracts in progress | 3 | €29,645,117 | €28,843,093 | -€802,024 | -2.7% |
| Stocks | 30/36 | €29,645,117 | €28,843,093 | -€802,024 | -2.7% |
| Goods purchased for resale | 34 | €29,645,117 | €28,843,093 | -€802,024 | -2.7% |
| Amounts receivable within one year | 40/41 | €26,034,702 | €29,558,147 | +€3.5m | +13.5% |
| Trade receivables | 40 | €25,998,894 | €27,371,653 | +€1.4m | +5.3% |
| Other amounts receivable | 41 | €35,808 | €2,186,494 | +€2.2m | +6006.1% |
| Current investments | 50/53 | €17,706 | €3,454 | -€14,252 | -80.5% |
| Other investments | 51/53 | €17,706 | €3,454 | -€14,252 | -80.5% |
| Cash at bank and in hand | 54/58 | €4,488,425 | €7,508,527 | +€3.0m | +67.3% |
| Deferred charges and accrued income | 490/1 | €341,577 | €33,632 | -€307,945 | -90.2% |
| Total equity and liabilities | 10/49 | €70,314,514 | €78,103,794 | +€7.8m | +11.1% |
| Equity | 10/15 | €24,658,899 | €29,397,896 | +€4.7m | +19.2% |
| Contributions | 10/11 | €1,239,468 | €1,239,468 | = | 0.0% |
| Capital | 10 | €1,239,468 | €1,239,468 | = | 0.0% |
| Issued capital | 100 | €1,239,468 | €1,239,468 | = | 0.0% |
| Reserves | 13 | €23,123,947 | €28,123,947 | +€5.0m | +21.6% |
| Non-distributable reserves | 130/1 | €123,947 | €123,947 | = | 0.0% |
| Legal reserve | 130 | €123,947 | €123,947 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,000,000 | €1,000,000 | = | 0.0% |
| Distributable reserves | 133 | €22,000,000 | €27,000,000 | +€5.0m | +22.7% |
| Profit (loss) carried forward | 14 | €295,484 | €34,482 | -€261,002 | -88.3% |
| Provisions and deferred taxes | 16 | €1,278,595 | €0 | -€1.3m | -100.0% |
| Provisions for liabilities and charges | 160/5 | €1,278,595 | €0 | -€1.3m | -100.0% |
| Other liabilities and charges | 164/5 | €1,278,595 | €0 | -€1.3m | -100.0% |
| Amounts payable | 17/49 | €44,377,020 | €48,705,897 | +€4.3m | +9.8% |
| Amounts payable after more than one year | 17 | €24,600,000 | €21,613,594 | -€3.0m | -12.1% |
| Financial debts | 170/4 | €4,600,000 | €6,613,594 | +€2.0m | +43.8% |
| Subordinated loans | 170 | €4,600,000 | €4,600,000 | = | 0.0% |
| Credit institutions | 173 | - | €2,013,594 | +€2.0m | |
| Other amounts payable | 178/9 | €20,000,000 | €15,000,000 | -€5.0m | -25.0% |
| Amounts payable within one year | 42/48 | €19,184,663 | €26,742,102 | +€7.6m | +39.4% |
| Current portion of amounts payable after more than one year | 42 | - | €503,107 | +€503,107 | |
| Financial debts | 43 | €6,200,000 | €5,528,668 | -€671,332 | -10.8% |
| Credit institutions | 430/8 | €6,200,000 | €5,528,668 | -€671,332 | -10.8% |
| Trade debts | 44 | €10,027,556 | €20,255,263 | +€10.2m | +102.0% |
| Suppliers | 440/4 | €10,027,556 | €20,255,263 | +€10.2m | +102.0% |
| Taxes, remuneration and social security | 45 | €500,619 | €455,064 | -€45,555 | -9.1% |
| Taxes | 450/3 | €234,072 | €180,266 | -€53,805 | -23.0% |
| Remuneration and social security | 454/9 | €266,548 | €274,798 | +€8,250 | +3.1% |
| Other amounts payable | 47/48 | €2,456,488 | €0 | -€2.5m | -100.0% |
| Accrued charges and deferred income | 492/3 | €592,357 | €350,201 | -€242,156 | -40.9% |
| Operating income | 70/76A | €106,466,985 | €135,946,515 | +€29.5m | +27.7% |
| Turnover | 70 | €106,404,572 | €135,922,596 | +€29.5m | +27.7% |
| Other operating income | 74 | €62,413 | €23,919 | -€38,494 | -61.7% |
| Operating charges | 60/66A | €91,668,326 | €126,659,192 | +€35.0m | +38.2% |
| Goods for resale, raw materials and consumables | 60 | €84,413,562 | €118,971,846 | +€34.6m | +40.9% |
| Purchases | 600/8 | €92,337,570 | €118,171,743 | +€25.8m | +28.0% |
| Change in stocks: decrease (increase) | 609 | -€7,924,008 | €800,104 | +€8.7m | |
| Services and other goods | 61 | €3,667,693 | €4,503,208 | +€835,514 | +22.8% |
| Remuneration, social security and pensions | 62 | €2,473,668 | €2,517,837 | +€44,169 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €414,421 | €332,494 | -€81,927 | -19.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €475,444 | €6,114 | -€469,330 | -98.7% |
| Other operating charges | 640/8 | €223,538 | €327,694 | +€104,156 | +46.6% |
| Operating profit (loss) | 9901 | €14,798,659 | €9,287,323 | -€5.5m | -37.2% |
| Financial income | 75/76B | €2,284,558 | €320,915 | -€2.0m | -86.0% |
| Recurring financial income | 75 | €2,284,558 | €320,915 | -€2.0m | -86.0% |
| Income from financial fixed assets | 750 | - | €0 | = | |
| Income from current assets | 751 | €307,508 | €92,724 | -€214,784 | -69.8% |
| Other financial income | 752/9 | €1,977,050 | €228,191 | -€1.7m | -88.5% |
| Financial charges | 65/66B | €2,293,202 | €2,337,327 | +€44,125 | +1.9% |
| Recurring financial charges | 65 | €2,293,202 | €2,337,327 | +€44,125 | +1.9% |
| Debt charges | 650 | €1,239,176 | €1,226,266 | -€12,911 | -1.0% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€1,140,980 | €0 | +€1.1m | |
| Other financial charges | 652/9 | €2,195,006 | €1,111,061 | -€1.1m | -49.4% |
| Profit (loss) for the period before taxes | 9903 | €14,790,015 | €7,270,911 | -€7.5m | -50.8% |
| Income taxes | 67/77 | €3,658,320 | €1,531,913 | -€2.1m | -58.1% |
| Taxes | 670/3 | €3,739,756 | €1,531,913 | -€2.2m | -59.0% |
| Tax adjustments and reversals of tax provisions | 77 | €81,436 | - | -€81,436 | |
| Profit (loss) for the period | 9904 | €11,131,696 | €5,738,998 | -€5.4m | -48.4% |
| Transfer to tax-exempt reserves | 689 | €1,000,000 | - | -€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €10,131,696 | €5,738,998 | -€4.4m | -43.4% |
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 9 October 2026 via checked.be.