TERVELO: 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.
TERVELO
Largest movements
- Current investments +€8,564
up €8,564 (+36.4%), from €23,500 to €32,064
- Receivables within one year -€5,595
down €5,595 (-46.3%), from €12,095 to €6,500
of which Trade receivables: -€5,593
- Cash -€2,983
down €2,983 (-16.2%), from €18,454 to €15,470
mainly Current investments (-€8,564) and Contributions, distributions and other (-€2,098)
- Tangible fixed assets -€659
down €659 (-53.7%), from €1,228 to €569
of which Furniture and vehicles: -€570
- Reserves -€2,098
down €2,098 (-14.0%), from €14,976 to €12,878
- Other debts +€1,472
up €1,472 (+107%), from €1,380 to €2,852
- Gross operating margin -€596
down €596 (-31.6%), from €1,888 to €1,292
- Depreciation -€589
down €589 (-47.2%), from €1,248 to €659
- Other operating charges +€151
up €151 (+29.2%), from €516 to €667
- Taxes -€33
down €33 (-100%), from €33 to €0
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 | €58,678 | €58,350 | -€327 | -0.6% |
| Fixed assets | 21/28 | €2,028 | €1,369 | -€659 | -32.5% |
| Tangible fixed assets | 22/27 | €1,228 | €569 | -€659 | -53.7% |
| Plant, machinery and equipment | 23 | €113 | €24 | -€89 | -78.7% |
| Furniture and vehicles | 24 | €1,115 | €545 | -€570 | -51.1% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €56,650 | €56,981 | +€332 | +0.6% |
| Amounts receivable within one year | 40/41 | €12,095 | €6,500 | -€5,595 | -46.3% |
| Trade receivables | 40 | €12,078 | €6,486 | -€5,593 | -46.3% |
| Other amounts receivable | 41 | €17 | €14 | -€2 | -12.9% |
| Current investments | 50/53 | €23,500 | €32,064 | +€8,564 | +36.4% |
| Cash at bank and in hand | 54/58 | €18,454 | €15,470 | -€2,983 | -16.2% |
| Deferred charges and accrued income | 490/1 | €2,601 | €2,948 | +€346 | +13.3% |
| Total equity and liabilities | 10/49 | €58,678 | €58,350 | -€327 | -0.6% |
| Equity | 10/15 | €55,000 | €52,872 | -€2,128 | -3.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,976 | €12,878 | -€2,098 | -14.0% |
| Distributable reserves | 133 | €14,976 | €12,878 | -€2,098 | -14.0% |
| Profit (loss) carried forward | 14 | €33,824 | €33,794 | -€31 | -0.1% |
| Amounts payable | 17/49 | €3,677 | €5,478 | +€1,801 | +49.0% |
| Amounts payable within one year | 42/48 | €3,662 | €5,478 | +€1,816 | +49.6% |
| Trade debts | 44 | €285 | €76 | -€209 | -73.4% |
| Suppliers | 440/4 | €285 | €76 | -€209 | -73.4% |
| Taxes, remuneration and social security | 45 | €1,997 | €2,550 | +€554 | +27.7% |
| Taxes | 450/3 | €1,997 | €2,550 | +€554 | +27.7% |
| Other amounts payable | 47/48 | €1,380 | €2,852 | +€1,472 | +107% |
| Accrued charges and deferred income | 492/3 | €15 | €0 | -€15 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,248 | €659 | -€589 | -47.2% |
| Other operating charges | 640/8 | €516 | €667 | +€151 | +29.2% |
| Gross operating margin | 9900 | €1,888 | €1,292 | -€596 | -31.6% |
| Operating profit (loss) | 9901 | €124 | -€34 | -€157 | |
| Financial income | 75/76B | €43 | €48 | +€6 | +13.5% |
| Recurring financial income | 75 | €43 | €48 | +€6 | +13.5% |
| Financial charges | 65/66B | €60 | €45 | -€15 | -25.0% |
| Recurring financial charges | 65 | €60 | €45 | -€15 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €106 | -€31 | -€137 | |
| Income taxes | 67/77 | €33 | €0 | -€33 | -100% |
| Profit (loss) for the period | 9904 | €73 | -€31 | -€103 | |
| Profit (loss) for the period to be appropriated | 9905 | €73 | -€31 | -€103 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.