TERRA
Open bankruptcyA bankruptcy procedure is open for TERRA according to publications in the Belgian State Gazette; curator: KATHLEEN VELKENEERS.
Summary
The 2024 annual accounts show equity of €43,055 and a net result of €6,265.
Are you a creditor?
Open bankruptcy
Source: Belgian Official Gazette
If this company owes you money, you are not paid automatically: you file your claim yourself, within the deadline the judgment sets.
The procedure
- Court
- Enterprise Court of Antwerp, Hasselt division
- Declared bankrupt
- 11 December 2025
- Supervising judge
- Guy Vloeberghs
- Official Gazette
- 18-12-2025 (pdf) ↗search the document for 2025/152785
Deadlines
- Provisional date payments stopped
- 11 December 2025A later judgment can change the date.art. XX.105 CEL
- Appeal or third-party opposition until
- passed on 2 January 2026Fifteen days after the publication in the Official Gazette.art. XX.108 CEL
- File the claim in RegSol until
- passed on 10 January 2026art. XX.104 and XX.155 CEL
- First verification report
- passed on 22 January 2026Goods that belong to you, such as those delivered under retention of title, are reclaimed before this day.art. XX.104 and XX.194 CEL
- Late claim until
- 11 December 2026Late, you share only in what has not been paid out yet, and the costs are yours.art. XX.165 CEL
Curator
- Kathleen VelkeneersKasteelstraat 23B, 3840 Tongeren-Borgloonleen@advvelkeneers.be
What to do now
- Do not deliver on credit any more without an agreement with the curator.
- Gather your documents: invoices, purchase orders, contract, delivery notes and reminders.
- File your proof of claim in RegSol (regsol.be), yourself with eID or itsme, or through your lawyer. State principal, interest and costs separately, and any preferential right you hold.
- Delivered under retention of title? Reclaim your goods before the first report on the verification of claims.
- Ask your accountant about the VAT on the unpaid invoices: in a bankruptcy it can be recovered under conditions.
- Follow the file in RegSol: the verification report (admitted or disputed) and the curator's reports appear there.
The deadlines above come from the publication of the judgment. Check them in RegSol before you file anything; a passed deadline no longer applies.
File a claim in RegSol ↗
Watch
Follow this bankruptcy: you are alerted when it is closed or reversed.
General information, not legal advice. If in doubt, the curator, your lawyer or your accountant can help.Creditor guide for this company
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 22% of 2098 sector peers (2024).
NBB · sector comparisonPosition among 2098 sector peers
Solvency
better than 22%
← weakest
strongest →
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 6 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
30 d early
2022
30 d late
2021
16 d early
2020
30 d late
2019
31 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 6 accounts on average 12 days after the deadline; the sector median for financial year 2024 is on the deadline day, and 46% of the sector filed late.
Checked, nothing found (1)
History
Go further with this company
Who ran this company, and where was it based, on a date before the end?Company as of a date Are there other customers at risk in your own list?List enrichment How is the General construction of residential buildings sector doing?Sector figures
Investigating this company? Keep it with today's facts in a case file.
Financials · fiscal year 2024, abbreviated schema
Equity
€43,055▲ 17.0%
2023 · €36,790
Total assets
€276,591▲ 70.0%
2023 · €162,686
Net result
€6,265▼ 30.8%
2023 · €9,055
Working capital
€46,788▼ 18.5%
2023 · €57,425
Trend over the years
Click a name to add, emphasise or remove a line.Band: the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings. Dashed line: the median.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20202021202220232024
Operating result€3,856▼ 68.8%€5,755▲ 49.2%€7,994▲ 38.9%€14,113▲ 76.5%€11,673▼ 17.3%
Net result€3,432within the sector's middle half▼ 62.7%€3,986within the sector's middle half▲ 16.1%€4,922within the sector's middle half▲ 23.5%€9,055within the sector's middle half▲ 83.9%€6,265within the sector's middle half▼ 30.8%
Equity€18,827below the sector's middle half▲ 22.3%€22,813below the sector's middle half▲ 21.2%€27,735below the sector's middle half▲ 21.6%€36,790below the sector's middle half▲ 32.6%€43,055below the sector's middle half▲ 17.0%
Total assets€45,757below the sector's middle half▲ 16.0%€55,617below the sector's middle half▲ 21.5%€119,342below the sector's middle half▲ 115%€162,686below the sector's middle half▲ 36.3%€276,591below the sector's middle half▲ 70.0%
Debt€26,930▲ 12.0%€32,804▲ 21.8%€91,607▲ 179%€125,897▲ 37.4%€233,535▲ 85.5%
Working capital€10,384below the sector's middle half▲ 35.7%€15,624below the sector's middle half▲ 50.5%€50,445within the sector's middle half▲ 223%€57,425within the sector's middle half▲ 13.8%€46,788within the sector's middle half▼ 18.5%
Solvency41.1%within the sector's middle half▲ 2.1pp41.0%within the sector's middle half▼ 0.1pp23.2%within the sector's middle half▼ 17.8pp22.6%within the sector's middle half▼ 0.6pp15.6%below the sector's middle half▼ 7.0pp
Current ratio1.39within the sector's middle half▲ 0.071.52within the sector's middle half▲ 0.131.83within the sector's middle half▲ 0.311.60within the sector's middle half▼ 0.221.21within the sector's middle half▼ 0.39
Return on assets (ROA)7.5%within the sector's middle half▼ 15.8pp7.2%within the sector's middle half▼ 0.3pp4.1%within the sector's middle half▼ 3.0pp5.6%within the sector's middle half▲ 1.4pp2.3%within the sector's middle half▼ 3.3pp
above
within
below
the middle half (P25 to P75) of NACE 41, Construction of residential and non-residential buildings, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result falls in 2024; 2024 is 17% below 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €276,591
Fixed assets
€7,579 ▼ 23.6%
Current assets
€269,011 ▲ 76.1%
Equity and liabilities €276,591
Equity
€43,055 ▲ 17.0%
Debt
€233,535 ▲ 85.5%
Debt's share of the balance-sheet total rises from 77.4% to 84.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€15,144▼
2023 · €19,719
Cash flow
€9,737▼
2023 · €14,661
Debt to equity
5.42▲
2023 · 3.42
ROE
14.6%▼
2023 · 24.6%
Interest coverage
6.64▼
2023 · 21.23
Debt ≤ 1 year
€222,223▲
2023 · €95,335
Income taxes
€3,127▼
2023 · €4,129
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €2,111 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,521 | €2,664 | €3,468 | €5,606 | €3,472 | ▼ 38.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €18,480 | - |
| Other operating charges640/8 | - | €472 | €796 | €2,206 | €876 | ▼ 60.3% |
| Non-recurring operating charges66A | - | - | - | - | €2,039 | - |
| Gross operating margin9900 | €5,834 | €8,891 | €12,258 | €21,924 | €36,539 | ▲ 66.7% |
| Operating profit (loss)9901 | €3,856 | €5,755 | €7,994 | €14,113 | €11,673 | ▼ 17.3% |
| Financial income75/76B | - | - | €32 | - | - | - |
| Recurring financial income75 | - | - | €32 | - | - | - |
| Financial charges65/66B | - | €106 | €982 | €929 | €2,280 | ▲ 145% |
| Recurring financial charges65 | €81 | €106 | €982 | €929 | €2,280 | ▲ 145% |
| Profit (loss) for the period before taxes9903 | €3,775 | €5,649 | €7,044 | €13,184 | €9,393 | ▼ 28.8% |
| Income taxes67/77 | €343 | €1,664 | €2,121 | €4,129 | €3,127 | ▼ 24.3% |
| Profit (loss) for the period9904 | €3,432 | €3,986 | €4,922 | €9,055 | €6,265 | ▼ 30.8% |
| Profit (loss) for the period to be appropriated9905 | €3,432 | €3,986 | €4,922 | €9,055 | €6,265 | ▼ 30.8% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €45,757 | €55,617 | €119,342 | €162,686 | €276,591 | ▲ 70.0% |
| Fixed assets21/28 | €8,443 | €9,689 | €7,790 | €9,927 | €7,579 | ▼ 23.6% |
| Tangible fixed assets22/27 | €8,443 | €9,689 | €7,540 | €9,677 | €7,329 | ▼ 24.3% |
| Plant, machinery and equipment23 | - | €3,770 | €3,125 | €1,976 | - | - |
| Furniture and vehicles24 | - | €1,003 | €483 | €4,751 | €5,363 | ▲ 12.9% |
| Other tangible fixed assets26 | - | €4,916 | €3,932 | €2,949 | €1,966 | ▼ 33.3% |
| Financial fixed assets28 | - | - | €250 | €250 | €250 | = |
| Current assets29/58 | €37,314 | €45,928 | €111,552 | €152,760 | €269,011 | ▲ 76.1% |
| Amounts receivable within one year40/41 | €29,190 | €44,949 | €107,769 | €151,901 | €268,652 | ▲ 76.9% |
| Trade receivables40 | - | €41,319 | €105,279 | €151,600 | €261,819 | ▲ 72.7% |
| Other amounts receivable41 | - | €3,630 | €2,490 | €301 | €6,833 | ▲ 2,171% |
| Cash at bank and in hand54/58 | €8,124 | €979 | €3,784 | €859 | €360 | ▼ 58.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €45,757 | €55,617 | €119,342 | €162,686 | €276,591 | ▲ 70.0% |
| Equity10/15 | €18,827 | €22,813 | €27,735 | €36,790 | €43,055 | ▲ 17.0% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €12,627 | €16,613 | €21,535 | €30,590 | €36,855 | ▲ 20.5% |
| Distributable reserves133 | - | €16,613 | €21,535 | €30,590 | €36,855 | ▲ 20.5% |
| Amounts payable17/49 | €26,930 | €32,804 | €91,607 | €125,897 | €233,535 | ▲ 85.5% |
| Amounts payable within one year42/48 | €26,930 | €30,304 | €61,107 | €95,335 | €222,223 | ▲ 133% |
| Trade debts44 | €2,701 | €6,803 | €24,150 | €47,836 | €120,645 | ▲ 152% |
| Suppliers440/4 | - | €6,803 | €24,150 | €47,836 | €120,645 | ▲ 152% |
| Taxes, remuneration and social security45 | - | €14,557 | €21,035 | €29,500 | €31,206 | ▲ 5.8% |
| Taxes450/3 | - | €2,007 | €3,785 | €6,250 | €7,256 | ▲ 16.1% |
| Remuneration and social security454/9 | - | €12,550 | €17,250 | €23,250 | €23,950 | ▲ 3.0% |
| Other amounts payable47/48 | - | €8,944 | €15,922 | €17,998 | €70,373 | ▲ 291% |
| Accrued charges and deferred income492/3 | - | €2,500 | €30,500 | €30,562 | €11,312 | ▼ 63.0% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €3,432 | €3,986 | €4,922 | €9,055 | €6,265 | ▼ 30.8% |
| + Depreciation and write-downs630 | €1,521 | €2,664 | €3,468 | €5,606 | €3,472 | ▼ 38.1% |
| Operating cash flow (approximation) | €4,953 | €6,650 | €8,390 | €14,661 | €9,737 | ▼ 33.6% |
| Investment in fixed assets (approximation) | - | -€3,910 | -€1,569 | -€7,742 | -€1,124 | ▲ 85.5% |
| Change in cash | - | -€7,145 | €2,805 | -€2,925 | -€499 | ▲ 82.9% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
2025
18-12
Bankruptcy
Opening
Ondernemingsrechtbank Antwerpen, afdeling Hasselt · event 11-12-2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 29 days late
2024
01-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
30-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 30 days late
2022
15-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
30-08
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 30 days late
2020
31-12
Financial
Weakest financial yearnet €3,432 ▼62.7%
Net result drops to €3,432, the lowest in the series.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 31 days late
SignalFinancial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 4 acts read
About the unread acts
We know of 4 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Maasmechelen · 1 establishment unit since 2019
Ground area
238 m²
Building footprint
1,251 m²
Volume, LiDAR
5,969 m³
Parcel 73048C0475/00Y002, Flanders · tallest building 8.5 m, ±2 floors. Linked by address, not a title deed.
1 establishment unit
TERRA
since 20192.288.956.213
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 73048C0475/00Y002 | Flanders | 238 m² | 1 · 1,251 m² | 8.5 m · 2 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Insolvency mandates
1 mandate| Role | Name | Tenure |
|---|---|---|
| Curator | KATHLEEN VELKENEERS KASTEELSTRAAT 23B,
3840 TONGEREN-BORGLOON |
11-12-2025 → present |
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Of 29,785 companies in sector 41001 we hold annual accounts for 16,058. 12,953 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded23-04-2019
Fiscal year end31-12
Activities, NACEBEL 2025
41001General construction of residential buildings
43350Other building finishing work
E-invoicing
Not found in the Peppol register
No Peppol card under this enterprise or VAT number. That proves nothing: publishing a card is voluntary.
Register as of 29 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.