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Terraco

Active
Public limited companyfounded 196065 yrs activeLeuvensesteenweg 38, 3191 Boortmeerbeek, BelgiumKBO/BCE: BE 0403.855.243
Summary

Terraco has been active since 1960 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €5.91M and a net result of €538k. Equity is growing by ~6.2% per year across the filed fiscal years. Its solvency ranks better than 95% of 493 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.2% (very low).

Checked score

Score 2024
Axes · tick = 2023
Profitability79▼-1
Solvency100=
Growth78=
Track record100
Bankruptcy probability, 12 months
0.2% Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €500k at 30 days acceptable
Liquidity ample (current ratio 14.05 against 10.48 in 2023; short-term debt: 2.1% and cash: 20.3% of total assets), and 7.2% of the assets are financed with debt.
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Signals

Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation date
Age against the risk zone
highest failure risk from 2 to 8 years 65 years 0 70 y
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies more bankruptcies →
lowers risk · Lower-risk legal form
Companies with this legal form statistically fail less often than a BV.
KBO · legal form
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2024
Solvency, return and age of the figures
Solvency
92.8%
Return on assets
8.4%
Age of the figures
21 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 25-06-2025, 36 days ahead of the deadline.
NBB · 10 filings
Deviation from the deadline
2025
not confirmed
2024
36 d early
2023
6 d late
2022
2 d early
2021
56 d early
2020
97 d early
2019
15 d early
← before the deadline after the deadline →
Checked, nothing found (1)
neutral · No strike-offs in the KBO publications
We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.
KBO publications · our coverage

History

On 30 December 1960, Terraco was incorporated.1 Total assets went from EUR 5.8 million in 2018 to EUR 6.4 million in 2024 and headcount from 12 full-time equivalents in 2018 to 3.7 in 2021.2

  1. 1Crossroads Bank for Enterprises
  2. 2National Bank, annual accounts 2018, 2021 and 2024

Financials · fiscal year 2024, abbreviated schema

Equity
€5.91M▲ 10.0%
2023 · €5.37M
Total assets
€6.37M▲ 6.7%
2023 · €5.97M
Net result
€538k▼ 1.0%
2023 · €543k
Working capital
€1.74M▲ 33.4%
2023 · €1.30M
Trend over the years

Click a name to add, emphasise or remove a line.

Every figure with its change against the fiscal year before
favourable unfavourable
Line20202021202220232024
Operating result€273k▼ 62.1%€321k▲ 17.7%€-32k€52k€57k▲ 8.4%
Net result€462k▼ 42.1%€582k▲ 26.0%€309k▼ 46.9%€543k▲ 75.9%€538k▼ 1.0%
Equity€4.74M▲ 8.3%€5.02M▲ 6.0%€5.33M▲ 6.2%€5.37M▲ 0.8%€5.91M▲ 10.0%
Total assets€7.08M▲ 10.5%€6.21M▼ 12.3%€6.05M▼ 2.5%€5.97M▼ 1.4%€6.37M▲ 6.7%
Debt€2.34M▲ 15.4%€1.19M▼ 49.3%€723k▼ 39.1%€594k▼ 17.9%€458k▼ 22.8%
Working capital€754k▲ 23.8%€1.03M▲ 37.1%€1.31M▲ 26.6%€1.30M▼ 0.6%€1.74M▲ 33.4%
Staff (FTE)12▼ 11.1%3.7▼ 69.2%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
€-200k€0€200k€400k€600kOperating result 2020: €273k€273kNet result 2020: €462k€462kOperating result 2021: €321k€321kNet result 2021: €582k€582kOperating result 2022: €-32k€-32kNet result 2022: €309k€309kOperating result 2023: €52k€52kNet result 2023: €543k€543kOperating result 2024: €57k€57kNet result 2024: €538k€538k20202021202220232024€-200k€0€200k€400k€600kOperating result 2022: €-32k€-32kNet result 2022: €309k€309kOperating result 2023: €52k€52kNet result 2023: €543k€543kOperating result 2024: €57k€57kNet result 2024: €538k€538k202220232024
After the dip in 2022 the operating result has climbed two years in a row; 2024 is 8% above 2023.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €6.37M
Fixed assets €4.50M ▼ 0.6%
Current assets €1.87M ▲ 29.9%
Equity and liabilities €6.37M
Equity €5.91M ▲ 10.0%
Debt €458k ▼ 22.8%
Debt's share of the balance-sheet total falls from 9.9% to 7.2%. Equity is higher and debt is lower.
Key figures and ratios
2024 value · change against 2023
EBITDA
€81k▲
2023 · €77k
Cash flow
€562k▼
2023 · €568k
Current ratio
14.05▲
2023 · 10.48
Debt to equity
0.08▼
2023 · 0.11
ROE
9.1%▼
2023 · 10.1%
ROA
8.4%▼
2023 · 9.1%
Interest coverage
10.13▲
2023 · 8.08
Debt ≤ 1 year
€133k▼
2023 · €137k
Debt > 1 year
€325k▼
2023 · €456k
Income taxes
€12k▲
2023 · €261
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
Filed annual accounts As filed with the NBB · 2024 against 2023 · 51 lines
Balance sheet Code20232024
Assets
Total assets20/58€5.97M€6.37M▲
Fixed assets21/28€4.53M€4.50M▼
Tangible fixed assets22/27€2.48M€2.46M▼
Land and buildings22€2.48M€2.46M▼
Financial fixed assets28€2.05M€2.04M▼
Current assets29/58€1.44M€1.87M▲
Amounts receivable within one year40/41€569k€569k=
Trade receivables40€5k€5k=
Other amounts receivable41€565k€565k=
Cash at bank and in hand54/58€864k€1.29M▲
Deferred charges and accrued income490/1€5k€5k▲
Equity and liabilities
Total equity and liabilities10/49€5.97M€6.37M▲
Equity10/15€5.37M€5.91M▲
Contributions10/11€87k€87k=
Capital10€87k€87k=
Issued capital100€87k€87k=
Revaluation surpluses12€583k€583k=
Reserves13€4.70M€5.24M▲
Non-distributable reserves130/1€106k€106k=
Legal reserve130€99k€99k=
Other1319€7k€7k=
Distributable reserves133€4.60M€5.13M▲
Amounts payable17/49€594k€458k▼
Amounts payable after more than one year17€456k€325k▼
Financial debts170/4€456k€325k▼
Amounts payable within one year42/48€137k€133k▼
Current portion of amounts payable after more than one year42€130k€131k▲
Trade debts44€7k€51▼
Suppliers440/4€7k€51▼
Taxes, remuneration and social security45-€2k
Taxes450/3-€2k
Income statement Code20232024
Non-recurring operating income76A-€7k
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€24k=
Other operating charges640/8€9k€9k▲
Non-recurring operating charges66A€1k-
Gross operating margin9900€87k€91k▲
Operating profit (loss)9901€52k€57k▲
Financial income75/76B€501k€501k▲
Recurring financial income75€501k€501k▲
Financial charges65/66B€10k€8k▼
Recurring financial charges65€10k€8k▼
Profit (loss) for the period before taxes9903€544k€550k▲
Income taxes67/77€261€12k▲
Profit (loss) for the period9904€543k€538k▼
Profit (loss) for the period to be appropriated9905€543k€538k▼
Appropriation of the result
Profit (loss) to be appropriated9906€543k€538k▼
Transfer from equity791/2€500k-
Transfer to equity691/2€543k€538k▼
To other reserves6921€543k€538k▼
Profit to be distributed694/7€500k-
Return on contributions (dividend)694€500k-

The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

Line20202021202220232024Change
Non-recurring operating income76A----€7k-
Remuneration, social security and pensions62-€216k----
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€65k€27k€24k€24k€24k=
Other operating charges640/8-€10k€11k€9k€9k▲ 4.0%
Non-recurring operating charges66A-€3k€15k€1k--
Gross operating margin9900€1.04M€577k€19k€87k€91k▲ 4.0%
Operating profit (loss)9901€273k€321k€-32k€52k€57k▲ 8.4%
Financial income75/76B-€350k€350k€501k€501k▲ 0.1%
Recurring financial income75€269k€350k€350k€501k€501k▲ 0.1%
Financial charges65/66B-€14k€12k€10k€8k▼ 15.7%
Recurring financial charges65€15k€14k€12k€10k€8k▼ 15.7%
Profit (loss) for the period before taxes9903€527k€657k€306k€544k€550k▲ 1.2%
Income taxes67/77€65k€75k€-3k€261€12k▲ 4,576%
Profit (loss) for the period9904€462k€582k€309k€543k€538k▼ 1.0%
Profit (loss) for the period to be appropriated9905€462k€582k€309k€543k€538k▼ 1.0%
Line20202021202220232024Change
Assets
Total assets20/58€7.08M€6.21M€6.05M€5.97M€6.37M▲ 6.7%
Fixed assets21/28€4.84M€4.70M€4.61M€4.53M€4.50M▼ 0.6%
Tangible fixed assets22/27€2.68M€2.55M€2.51M€2.48M€2.46M▼ 1.0%
Land and buildings22-€2.54M€2.51M€2.48M€2.46M▼ 1.0%
Furniture and vehicles24-€13k----
Financial fixed assets28€2.16M€2.15M€2.10M€2.05M€2.04M▼ 0.2%
Current assets29/58€2.23M€1.50M€1.44M€1.44M€1.87M▲ 29.9%
Stocks and contracts in progress3€3k-----
Amounts receivable within one year40/41€959k€653k€565k€569k€569k=
Trade receivables40-€105k€17k€5k€5k=
Other amounts receivable41-€548k€547k€565k€565k=
Cash at bank and in hand54/58€1.26M€849k€876k€864k€1.29M▲ 49.8%
Deferred charges and accrued income490/1-€2k€5k€5k€5k▲ 2.1%
Equity and liabilities
Total equity and liabilities10/49€7.08M€6.21M€6.05M€5.97M€6.37M▲ 6.7%
Equity10/15€4.74M€5.02M€5.33M€5.37M€5.91M▲ 10.0%
Contributions10/11€87k€87k€87k€87k€87k=
Capital10-€87k€87k€87k€87k=
Issued capital100-€87k€87k€87k€87k=
Revaluation surpluses12-€583k€583k€583k€583k=
Reserves13€4.07M€4.35M€4.66M€4.70M€5.24M▲ 11.4%
Non-distributable reserves130/1-€106k€106k€106k€106k=
Legal reserve130-€99k€99k€99k€99k=
Other1319-€7k€7k€7k€7k=
Distributable reserves133-€4.24M€4.55M€4.60M€5.13M▲ 11.7%
Amounts payable17/49€2.34M€1.19M€723k€594k€458k▼ 22.8%
Amounts payable after more than one year17€845k€716k€586k€456k€325k▼ 28.7%
Financial debts170/4-€716k€586k€456k€325k▼ 28.7%
Amounts payable within one year42/48€1.48M€471k€136k€137k€133k▼ 3.1%
Current portion of amounts payable after more than one year42-€129k€130k€130k€131k▲ 0.5%
Trade debts44€626k€52k€7k€7k€51▼ 99.3%
Suppliers440/4-€52k€7k€7k€51▼ 99.3%
Taxes, remuneration and social security45----€2k-
Taxes450/3----€2k-
Other amounts payable47/48-€290k----
Accrued charges and deferred income492/3--€88---
Line20202021202220232024Change
Profit (loss) for the period9904€462k€582k€309k€543k€538k▼ 1.0%
+ Depreciation and write-downs630€65k€27k€24k€24k€24k=
Operating cash flow (approximation)€527k€609k€333k€568k€562k▼ 1.0%
Investment in fixed assets (approximation)-€112k€71k€55k€4k▼ 93.3%
Change in cash-€-414k€27k€-11k€430k▲ 3,927%

Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.

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More with these figures Sector benchmark What changed Value indication

Timeline · acts, filings and financial milestones

2025
25-06
NBB filing Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
06-08
NBB filing Annual accounts filed
fiscal year 2023 · abbreviated schema · 6 days late
2023
29-07
NBB filing Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
31-12
Financial Liquidity triplescurrent ratio 10.59
Current ratio from 3.20 to 10.59; short-term debt falls from €471k to €136k.
05-06
NBB filing Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
31-12
Financial Liquidity doublescurrent ratio 3.20
Current ratio from 1.51 to 3.20; short-term debt falls from €1.48M to €471k.
31-12
Financial Equity above €5MEq €5.02M ▲6%
4 profitable years in a row build equity to €5.02M.
25-04
NBB filing Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
16-07
NBB filing Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial Highest result since 2018net €798k ▲191%
Operating result €720k, net result €798k, both a record.
31-12
Financial Liquidity triplescurrent ratio 1.59
Current ratio from 0.62 to 1.59; short-term debt falls from €1.47M to €1.04M.
09-05
NBB filing Annual accounts filed
fiscal year 2018 · abbreviated schema
Show earlier events
2018
20-05
NBB filing Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
06-07
NBB filing Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
26-04
NBB filing Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 8 acts read
About the unread acts

We know of 8 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
8 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, Boortmeerbeek · 1 establishment unit since 1980
seat establishment approximate The establishment unit on the map
Ground area
5.7 ha
Building footprint
2.1 ha
Volume, LiDAR
271,690 m³
2 parcels, Flanders · tallest building 16.4 m, ±4 floors. Linked by address, not a title deed.
6 companies at this address See who is registered here
1 establishment unit
TERRACO
Leuvensesteenweg 38, 3190 BoortmeerbeekNACE 2661001
since 19802.018.023.632
2 parcels
Flanders 2 (100%)
Parcel (capakey) Region Area Buildings Height / fl.
24014D0047/00G000indicative Flanders 4.5 ha 1 · 2.0 ha 16.4 m · 4 fl.
24039B0033/00E000 Flanders 1.2 ha 1 · 1,006 m² 7.9 m · 2 fl.
Linked by address, not proof of ownership
Good to know
1 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.

Similar companies · same sector, comparable size

Of 2,325 companies in sector 42110 we hold annual accounts for 1,096. 362 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector

Identification & contact

Identification
Legal formPublic limited company
Founded30-12-1960
Fiscal year end31-12
Activities, NACEBEL 2025
42110Construction of roads and motorways
23660Manufacture of other non-metallic mineral products

Scores and ratios are computed by Checked and are not a credit decision.