Terzake: 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.
Terzake
Largest movements
- Receivables within one year -€384,718
down €384,718 (-62.1%), from €619,269 to €234,551
- Reserves -€367,856
down €367,856 (-69.0%), from €533,058 to €165,202
- Contributions -€17,500
down €17,500 (-97.2%), from €18,000 to €500
- Financial income -€7,324
down €7,324 (-19.9%), from €36,757 to €29,434
- Taxes -€4,391
down €4,391 (-39.7%), from €11,056 to €6,666
- Gross operating margin -€194
down €194 (-12.3%), from -€1,577 to -€1,771
- Financial charges +€143
up €143 (+7.3%), from €1,964 to €2,107
- Other operating charges +€40
up €40 (+7.0%), from €567 to €607
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 | €620,503 | €235,796 | -€384,707 | -62.0% |
| Fixed assets | 21/28 | €2 | €0 | -€2 | -100.0% |
| Financial fixed assets | 28 | €2 | €0 | -€2 | -100.0% |
| Current assets | 29/58 | €620,501 | €235,796 | -€384,705 | -62.0% |
| Amounts receivable within one year | 40/41 | €619,269 | €234,551 | -€384,718 | -62.1% |
| Other amounts receivable | 41 | €619,269 | €234,551 | -€384,718 | -62.1% |
| Cash at bank and in hand | 54/58 | €1,232 | €1,245 | +€13 | +1.0% |
| Total equity and liabilities | 10/49 | €620,503 | €235,796 | -€384,707 | -62.0% |
| Equity | 10/15 | €551,058 | €165,702 | -€385,356 | -69.9% |
| Contributions | 10/11 | €18,000 | €500 | -€17,500 | -97.2% |
| Reserves | 13 | €533,058 | €165,202 | -€367,856 | -69.0% |
| Distributable reserves | 133 | €533,058 | €165,202 | -€367,856 | -69.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €43,305 | €45,045 | +€1,740 | +4.0% |
| Provisions for liabilities and charges | 160/5 | €43,305 | €45,045 | +€1,740 | +4.0% |
| Pensions and similar obligations | 160 | €43,305 | €45,045 | +€1,740 | +4.0% |
| Amounts payable | 17/49 | €26,140 | €25,048 | -€1,091 | -4.2% |
| Amounts payable within one year | 42/48 | €24,528 | €23,436 | -€1,091 | -4.4% |
| Trade debts | 44 | €387 | €483 | +€95 | +24.6% |
| Suppliers | 440/4 | €387 | €483 | +€95 | +24.6% |
| Taxes, remuneration and social security | 45 | €19,706 | €17,722 | -€1,984 | -10.1% |
| Taxes | 450/3 | €19,706 | €17,722 | -€1,984 | -10.1% |
| Other amounts payable | 47/48 | €4,435 | €5,232 | +€797 | +18.0% |
| Accrued charges and deferred income | 492/3 | €1,612 | €1,612 | = | 0.0% |
| Other operating charges | 640/8 | €567 | €607 | +€40 | +7.0% |
| Non-recurring operating charges | 66A | - | €2 | +€2 | |
| Gross operating margin | 9900 | -€1,577 | -€1,771 | -€194 | -12.3% |
| Operating profit (loss) | 9901 | -€2,144 | -€2,380 | -€236 | -11.0% |
| Financial income | 75/76B | €36,757 | €29,434 | -€7,324 | -19.9% |
| Recurring financial income | 75 | €36,757 | €29,434 | -€7,324 | -19.9% |
| Financial charges | 65/66B | €1,964 | €2,107 | +€143 | +7.3% |
| Recurring financial charges | 65 | €1,964 | €2,107 | +€143 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €32,650 | €24,947 | -€7,703 | -23.6% |
| Income taxes | 67/77 | €11,056 | €6,666 | -€4,391 | -39.7% |
| Profit (loss) for the period | 9904 | €21,593 | €18,282 | -€3,312 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,593 | €18,282 | -€3,312 | -15.3% |
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 7 October 2026 via checked.be.