TERVIMMO: what changed
Two fiscal 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.
TERVIMMO
Largest movements
- Current investments +€18,468
up €18,468 (+3.1%), from €591,505 to €609,973
- Cash -€18,183
down €18,183 (-32.8%), from €55,402 to €37,219
mainly Net result for the year (-€24,826) and Current investments (-€18,468)
- Tangible fixed assets -€11,922
down €11,922 (-17.0%), from €70,114 to €58,193
of which Land and buildings: -€10,666
- Profit (loss) carried forward -€24,826
down €24,826 (-6.6%), from €378,177 to €353,351
- Accrued charges and deferred income +€12,901
up €12,901 (+11.9%), from €108,346 to €121,247
- Gross operating margin -€16,926
down €16,926, from €5,493 to -€11,432
- Financial income -€13,456
down €13,456 (-66.1%), from €20,355 to €6,899
- Depreciation -€1,481
down €1,481 (-10.2%), from €14,483 to €13,003
- Other operating charges +€968
up €968 (+16.2%), from €5,982 to €6,950
- Taxes -€624
down €624 (-68.0%), from €918 to €294
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 | €732,583 | €721,070 | -€11,513 | -1.6% |
| Fixed assets | 21/28 | €70,114 | €58,193 | -€11,922 | -17.0% |
| Tangible fixed assets | 22/27 | €70,114 | €58,193 | -€11,922 | -17.0% |
| Land and buildings | 22 | €66,294 | €55,628 | -€10,666 | -16.1% |
| Plant, machinery and equipment | 23 | €3,501 | €1,844 | -€1,657 | -47.3% |
| Furniture and vehicles | 24 | €319 | €721 | +€402 | +125.8% |
| Current assets | 29/58 | €662,469 | €662,877 | +€409 | +0.1% |
| Amounts receivable within one year | 40/41 | €13,050 | €15,081 | +€2,031 | +15.6% |
| Other amounts receivable | 41 | €13,050 | €15,081 | +€2,031 | +15.6% |
| Current investments | 50/53 | €591,505 | €609,973 | +€18,468 | +3.1% |
| Cash at bank and in hand | 54/58 | €55,402 | €37,219 | -€18,183 | -32.8% |
| Deferred charges and accrued income | 490/1 | €2,511 | €604 | -€1,907 | -75.9% |
| Total equity and liabilities | 10/49 | €732,583 | €721,070 | -€11,513 | -1.6% |
| Equity | 10/15 | €621,996 | €597,170 | -€24,826 | -4.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €181,819 | €181,819 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €11,643 | €11,643 | = | 0.0% |
| Distributable reserves | 133 | €163,976 | €163,976 | = | 0.0% |
| Profit (loss) carried forward | 14 | €378,177 | €353,351 | -€24,826 | -6.6% |
| Amounts payable | 17/49 | €110,587 | €123,900 | +€13,313 | +12.0% |
| Amounts payable within one year | 42/48 | €2,241 | €2,654 | +€413 | +18.4% |
| Trade debts | 44 | €2,241 | €2,654 | +€413 | +18.4% |
| Suppliers | 440/4 | €2,241 | €2,654 | +€413 | +18.4% |
| Accrued charges and deferred income | 492/3 | €108,346 | €121,247 | +€12,901 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,483 | €13,003 | -€1,481 | -10.2% |
| Other operating charges | 640/8 | €5,982 | €6,950 | +€968 | +16.2% |
| Gross operating margin | 9900 | €5,493 | -€11,432 | -€16,926 | |
| Operating profit (loss) | 9901 | -€14,972 | -€31,385 | -€16,413 | -109.6% |
| Financial income | 75/76B | €20,355 | €6,899 | -€13,456 | -66.1% |
| Recurring financial income | 75 | €20,355 | €6,899 | -€13,456 | -66.1% |
| Financial charges | 65/66B | €124 | €47 | -€77 | -62.2% |
| Recurring financial charges | 65 | €124 | €47 | -€77 | -62.2% |
| Profit (loss) for the period before taxes | 9903 | €5,259 | -€24,533 | -€29,792 | |
| Income taxes | 67/77 | €918 | €294 | -€624 | -68.0% |
| Profit (loss) for the period | 9904 | €4,341 | -€24,826 | -€29,168 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,341 | -€24,826 | -€29,168 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.