TERWINGEN: 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.
TERWINGEN
Largest movements
- Tangible fixed assets +€13,642
up €13,642 (+10.7%), from €127,703 to €141,345
of which Plant, machinery and equipment: +€21,924
- Receivables within one year -€10,384
down €10,384 (-52.2%), from €19,877 to €9,493
of which Trade receivables: -€10,936
- Cash +€8,088
up €8,088 (+46.7%), from €17,311 to €25,399
mainly Net result for the year (+€16,865) and Depreciation (+€13,948)
- Reserves +€21,865
up €21,865 (+54.7%), from €39,963 to €61,828
- Debts after one year -€7,000
down €7,000 (-16.0%), from €43,750 to €36,750
- Revaluation surpluses -€5,000
down €5,000 (-9.1%), from €55,000 to €50,000
- Tax, wage and social debts +€4,894
up €4,894 (+79.5%), from €6,157 to €11,051
of which Taxes: +€3,444
- Taxes +€9,183
up €9,183 (+760.7%), from €1,207 to €10,390
- Gross operating margin +€7,543
up €7,543 (+18.1%), from €41,764 to €49,307
- Depreciation +€4,543
up €4,543 (+48.3%), from €9,405 to €13,948
- Financial charges +€3,175
up €3,175 (+1021.8%), from €311 to €3,486
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 | €174,658 | €186,632 | +€11,974 | +6.9% |
| Fixed assets | 21/28 | €127,703 | €141,345 | +€13,642 | +10.7% |
| Tangible fixed assets | 22/27 | €127,703 | €141,345 | +€13,642 | +10.7% |
| Land and buildings | 22 | €106,001 | €100,601 | -€5,400 | -5.1% |
| Plant, machinery and equipment | 23 | €12,293 | €34,218 | +€21,924 | +178.3% |
| Furniture and vehicles | 24 | €9,408 | €6,526 | -€2,883 | -30.6% |
| Current assets | 29/58 | €46,955 | €45,287 | -€1,668 | -3.6% |
| Stocks and contracts in progress | 3 | €8,241 | €7,841 | -€400 | -4.9% |
| Stocks | 30/36 | €8,241 | €7,841 | -€400 | -4.9% |
| Amounts receivable within one year | 40/41 | €19,877 | €9,493 | -€10,384 | -52.2% |
| Trade receivables | 40 | €19,524 | €8,587 | -€10,936 | -56.0% |
| Other amounts receivable | 41 | €353 | €905 | +€552 | +156.5% |
| Cash at bank and in hand | 54/58 | €17,311 | €25,399 | +€8,088 | +46.7% |
| Deferred charges and accrued income | 490/1 | €1,527 | €2,555 | +€1,028 | +67.3% |
| Total equity and liabilities | 10/49 | €174,658 | €186,632 | +€11,974 | +6.9% |
| Equity | 10/15 | €114,963 | €131,828 | +€16,865 | +14.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €55,000 | €50,000 | -€5,000 | -9.1% |
| Reserves | 13 | €39,963 | €61,828 | +€21,865 | +54.7% |
| Distributable reserves | 133 | €39,963 | €61,828 | +€21,865 | +54.7% |
| Amounts payable | 17/49 | €59,695 | €54,804 | -€4,891 | -8.2% |
| Amounts payable after more than one year | 17 | €43,750 | €36,750 | -€7,000 | -16.0% |
| Financial debts | 170/4 | €43,750 | €36,750 | -€7,000 | -16.0% |
| Amounts payable within one year | 42/48 | €15,945 | €18,054 | +€2,109 | +13.2% |
| Trade debts | 44 | €7,503 | €5,843 | -€1,660 | -22.1% |
| Suppliers | 440/4 | €7,503 | €5,843 | -€1,660 | -22.1% |
| Taxes, remuneration and social security | 45 | €6,157 | €11,051 | +€4,894 | +79.5% |
| Taxes | 450/3 | €6,157 | €9,601 | +€3,444 | +55.9% |
| Remuneration and social security | 454/9 | - | €1,450 | +€1,450 | |
| Other amounts payable | 47/48 | €2,285 | €1,160 | -€1,125 | -49.2% |
| Non-recurring operating income | 76A | €420 | €0 | -€420 | -100.0% |
| Remuneration, social security and pensions | 62 | €195 | €84 | -€111 | -57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,405 | €13,948 | +€4,543 | +48.3% |
| Other operating charges | 640/8 | €4,328 | €4,611 | +€283 | +6.5% |
| Gross operating margin | 9900 | €41,764 | €49,307 | +€7,543 | +18.1% |
| Operating profit (loss) | 9901 | €27,836 | €30,664 | +€2,828 | +10.2% |
| Financial income | 75/76B | €85 | €76 | -€9 | -10.0% |
| Recurring financial income | 75 | €85 | €76 | -€9 | -10.0% |
| Financial charges | 65/66B | €311 | €3,486 | +€3,175 | +1021.8% |
| Recurring financial charges | 65 | €311 | €3,486 | +€3,175 | +1021.8% |
| Profit (loss) for the period before taxes | 9903 | €27,611 | €27,255 | -€356 | -1.3% |
| Income taxes | 67/77 | €1,207 | €10,390 | +€9,183 | +760.7% |
| Profit (loss) for the period | 9904 | €26,403 | €16,865 | -€9,539 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €26,403 | €16,865 | -€9,539 | -36.1% |
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.