TERVEN: 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.
TERVEN
Largest movements
- Cash -€109,481
down €109,481 (-91.4%), from €119,776 to €10,295
mainly Other debts (-€100,000) and Trade debts (-€20,497)
- Tangible fixed assets -€13,555
down €13,555 (-4.9%), from €274,972 to €261,417
of which Land and buildings: -€11,740
- Receivables within one year +€4,966
up €4,966 (+118.0%), from €4,209 to €9,175
of which Trade receivables: +€7,542
- Other debts -€100,000
no longer reported in 2025 (was €100,000)
- Trade debts -€20,497
down €20,497 (-77.2%), from €26,565 to €6,068
- Profit (loss) carried forward +€20,034
up €20,034 (+22.8%), from €87,731 to €107,765
- Accrued charges and deferred income -€13,113
down €13,113 (-54.4%), from €24,113 to €11,000
- Tax, wage and social debts -€6,995
no longer reported in 2025 (was €6,995)
- Depreciation -€18,681
down €18,681 (-36.8%), from €50,824 to €32,143
- Financial charges -€1,470
down €1,470 (-36.5%), from €4,025 to €2,555
- Gross operating margin +€861
up €861 (+1.5%), from €58,933 to €59,795
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €402,465 | €284,797 | -€117,668 | -29.2% |
| Fixed assets | 21/28 | €274,972 | €261,417 | -€13,555 | -4.9% |
| Tangible fixed assets | 22/27 | €274,972 | €261,417 | -€13,555 | -4.9% |
| Land and buildings | 22 | €227,748 | €216,008 | -€11,740 | -5.2% |
| Plant, machinery and equipment | 23 | €44,718 | €44,279 | -€439 | -1.0% |
| Furniture and vehicles | 24 | €2,506 | €1,130 | -€1,376 | -54.9% |
| Current assets | 29/58 | €127,493 | €23,380 | -€104,113 | -81.7% |
| Amounts receivable within one year | 40/41 | €4,209 | €9,175 | +€4,966 | +118.0% |
| Trade receivables | 40 | €1,204 | €8,746 | +€7,542 | +626.5% |
| Other amounts receivable | 41 | €3,005 | €429 | -€2,577 | -85.7% |
| Cash at bank and in hand | 54/58 | €119,776 | €10,295 | -€109,481 | -91.4% |
| Deferred charges and accrued income | 490/1 | €3,507 | €3,909 | +€403 | +11.5% |
| Total equity and liabilities | 10/49 | €402,465 | €284,797 | -€117,668 | -29.2% |
| Equity | 10/15 | €241,890 | €261,924 | +€20,034 | +8.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €147,959 | €147,959 | = | 0.0% |
| Distributable reserves | 133 | €147,959 | €147,959 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,731 | €107,765 | +€20,034 | +22.8% |
| Amounts payable | 17/49 | €160,575 | €22,873 | -€137,702 | -85.8% |
| Amounts payable within one year | 42/48 | €136,462 | €11,873 | -€124,589 | -91.3% |
| Trade debts | 44 | €26,565 | €6,068 | -€20,497 | -77.2% |
| Suppliers | 440/4 | €26,565 | €6,068 | -€20,497 | -77.2% |
| Advances received on contracts in progress | 46 | €2,902 | €5,805 | +€2,902 | +100.0% |
| Taxes, remuneration and social security | 45 | €6,995 | - | -€6,995 | |
| Taxes | 450/3 | €6,995 | - | -€6,995 | |
| Other amounts payable | 47/48 | €100,000 | - | -€100,000 | |
| Accrued charges and deferred income | 492/3 | €24,113 | €11,000 | -€13,113 | -54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,824 | €32,143 | -€18,681 | -36.8% |
| Other operating charges | 640/8 | €4,912 | €5,062 | +€150 | +3.1% |
| Gross operating margin | 9900 | €58,933 | €59,795 | +€861 | +1.5% |
| Operating profit (loss) | 9901 | €3,197 | €22,589 | +€19,392 | +606.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €4,025 | €2,555 | -€1,470 | -36.5% |
| Recurring financial charges | 65 | €4,025 | €2,555 | -€1,470 | -36.5% |
| Profit (loss) for the period before taxes | 9903 | -€828 | €20,034 | +€20,862 | |
| Profit (loss) for the period | 9904 | -€828 | €20,034 | +€20,862 | |
| Profit (loss) for the period to be appropriated | 9905 | -€828 | €20,034 | +€20,862 |
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.