Terwinghe Consulting: 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.
Terwinghe Consulting
Largest movements
- Current investments +€99,870
up €99,870 (+90.8%), from €110,000 to €209,870
- Receivables within one year +€10,837
up €10,837 (+77.9%), from €13,919 to €24,756
of which Trade receivables: +€10,793
- Cash -€4,819
down €4,819 (-16.7%), from €28,926 to €24,107
mainly Current investments (-€99,870) and Receivables within one year (-€10,837)
- Reserves +€103,139
up €103,139 (+77.5%), from €133,068 to €236,207
- Other debts +€4,336
up €4,336 (+94.6%), from €4,585 to €8,922
- Gross operating margin +€65,205
up €65,205 (+76.1%), from €85,639 to €150,844
- Taxes +€26,240
up €26,240 (+118%), from €22,232 to €48,472
- Depreciation -€6,688
down €6,688 (-84.7%), from €7,899 to €1,211
- Financial income +€2,210
up €2,210 (+171%), from €1,290 to €3,500
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 | €157,501 | €262,194 | +€104,693 | +66.5% |
| Fixed assets | 21/28 | €3,091 | €1,880 | -€1,211 | -39.2% |
| Tangible fixed assets | 22/27 | €3,091 | €1,880 | -€1,211 | -39.2% |
| Plant, machinery and equipment | 23 | €1,443 | €799 | -€644 | -44.6% |
| Furniture and vehicles | 24 | €1,649 | €1,081 | -€568 | -34.4% |
| Current assets | 29/58 | €154,410 | €260,314 | +€105,904 | +68.6% |
| Amounts receivable within one year | 40/41 | €13,919 | €24,756 | +€10,837 | +77.9% |
| Trade receivables | 40 | €13,909 | €24,703 | +€10,793 | +77.6% |
| Other amounts receivable | 41 | €10 | €53 | +€43 | +447% |
| Current investments | 50/53 | €110,000 | €209,870 | +€99,870 | +90.8% |
| Cash at bank and in hand | 54/58 | €28,926 | €24,107 | -€4,819 | -16.7% |
| Deferred charges and accrued income | 490/1 | €1,564 | €1,581 | +€16 | +1.0% |
| Total equity and liabilities | 10/49 | €157,501 | €262,194 | +€104,693 | +66.5% |
| Equity | 10/15 | €134,568 | €237,707 | +€103,139 | +76.6% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €133,068 | €236,207 | +€103,139 | +77.5% |
| Distributable reserves | 133 | €133,068 | €236,207 | +€103,139 | +77.5% |
| Amounts payable | 17/49 | €22,933 | €24,486 | +€1,554 | +6.8% |
| Amounts payable within one year | 42/48 | €22,674 | €24,053 | +€1,378 | +6.1% |
| Trade debts | 44 | €1,159 | - | -€1,159 | |
| Suppliers | 440/4 | €1,159 | - | -€1,159 | |
| Taxes, remuneration and social security | 45 | €16,930 | €15,131 | -€1,799 | -10.6% |
| Taxes | 450/3 | €16,930 | €15,131 | -€1,799 | -10.6% |
| Other amounts payable | 47/48 | €4,585 | €8,922 | +€4,336 | +94.6% |
| Accrued charges and deferred income | 492/3 | €258 | €434 | +€176 | +68.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,899 | €1,211 | -€6,688 | -84.7% |
| Other operating charges | 640/8 | €1,030 | €1,050 | +€21 | +2.0% |
| Gross operating margin | 9900 | €85,639 | €150,844 | +€65,205 | +76.1% |
| Operating profit (loss) | 9901 | €76,711 | €148,583 | +€71,872 | +93.7% |
| Financial income | 75/76B | €1,290 | €3,500 | +€2,210 | +171% |
| Recurring financial income | 75 | €1,290 | €3,500 | +€2,210 | +171% |
| Financial charges | 65/66B | €468 | €472 | +€5 | +1.1% |
| Recurring financial charges | 65 | €467 | €342 | -€125 | -26.7% |
| Non-recurring financial charges | 66B | €0 | €130 | +€130 | +54,071% |
| Profit (loss) for the period before taxes | 9903 | €77,533 | €151,610 | +€74,077 | +95.5% |
| Income taxes | 67/77 | €22,232 | €48,472 | +€26,240 | +118% |
| Profit (loss) for the period | 9904 | €55,301 | €103,139 | +€47,838 | +86.5% |
| Profit (loss) for the period to be appropriated | 9905 | €55,301 | €103,139 | +€47,838 | +86.5% |
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 26 October 2026 via checked.be.