TERRAGRO
ActiveTERRAGRO has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €375k and a net result of €12k. Equity is growing by ~8.5% per year across the filed fiscal years. Its solvency ranks better than 14% of 7692 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.7% (low).
Checked score
Score 2025
56
/ 100
Fair
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability53▼-17
Solvency37▼-5
Growth52=
Track record100
Bankruptcy probability, 12 months
0.7%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €20k at 30 days acceptable
Liquidity short (current ratio 0.38 against 0.23 in 2024; short-term debt: 24.7% and cash: 0.4% of total assets), and 87.6% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 43
Relative position
BE, all sectors
reference
Sector 43
higher
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
12.4%
Return on assets
0.4%
Age of the figures
9 mo
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 14% of 7692 sector peers (2025).
NBB · sector comparisonPosition among 7692 sector peers
Solvency
better than 14%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-04-2026, 106 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
106 d early
2024
35 d early
2023
56 d early
2022
34 d early
2021
9 d early
2020
51 d early
2019
50 d early
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
17-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€375k▲ 3.4%
2024 · €362k
2018: €149k
2019: €204k
2020: €322k
2021: €410k
2022: €439k
2023: €347k
2024: €362k
2018 → 2025
Total assets
€3.02M▲ 42.1%
2024 · €2.12M
2018: €576k
2019: €1.20M
2020: €1.33M
2021: €1.94M
2022: €1.82M
2023: €2.37M
2024: €2.12M
2018 → 2025
Net result
€12k▼ 21.4%
2024 · €16k
2018: €30k
2019: €55k
2020: €118k
2021: €88k
2022: €28k
2023: €-92k
2024: €16k
2018 → 2025
Working capital
€-461k▼ 88.3%
2024 · €-245k
2018: €-203k
2019: €-540k
2020: €-520k
2021: €-692k
2022: €-920k
2023: €-375k
2024: €-245k
2018 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€410k-€439k▲ 6.9%€347k▼ 21.0%€362k▲ 4.6%€375k▲ 3.4%
Operating result€142k-€58k▼ 59.5%€-61k€49k€93k▲ 90.9%
Net result€88k-€28k▼ 67.8%€-92k€16k€12k▼ 21.4%
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2023 the operating result has climbed two years in a row; 2025 is 91% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.02M
Fixed assets
€2.73M▲ 33.3%
Current assets
€285k▲ 281%
Equity and liabilities €3.02M
Equity
€375k▲ 3.4%
Debt
€2.64M▲ 50.0%
The debt ratio rises from 82.9% to 87.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€321k▲
2024 · €304k
Cash flow
€241k▼
2024 · €271k
Solvency
12.4%▼
2024 · 17.1%
Current ratio
0.38▲
2024 · 0.23
Quick ratio
0.38▲
2024 · 0.23
Debt / equity
7.05▲
2024 · 4.86
ROE
3.3%▼
2024 · 4.4%
ROA
0.4%▼
2024 · 0.7%
Interest coverage
3.99▼
2024 · 9.39
Debt
€2.64M▲
2024 · €1.76M
Debt ≤ 1 year
€746k▲
2024 · €319k
Debt > 1 year
€1.90M▲
2024 · €1.44M
Income taxes
€239▼
2024 · €306
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€2.12M€3.02M▲
Fixed assets21/28€2.05M€2.73M▲
Tangible fixed assets22/27€1.97M€2.66M▲
Land and buildings22€1.31M€1.29M▼
Plant, machinery and equipment23€265k€160k▼
Furniture and vehicles24€76k€43k▼
Leasing and similar rights25€322k€275k▼
Assets under construction and advance payments27€3k€889k▲
Financial fixed assets28€77k€77k=
Current assets29/58€75k€285k▲
Amounts receivable within one year40/41€62k€261k▲
Trade receivables40€62k€261k▲
Cash at bank and in hand54/58€6k€13k▲
Deferred charges and accrued income490/1€7k€11k▲
Equity and liabilities
Total equity and liabilities10/49€2.12M€3.02M▲
Equity10/15€362k€375k▲
Contributions10/11€20k€20k=
Reserves13€378k€378k=
Distributable reserves133€378k€378k=
Profit (loss) carried forward14€-36k€-23k▲
Amounts payable17/49€1.76M€2.64M▲
Amounts payable after more than one year17€1.44M€1.90M▲
Financial debts170/4€705k€1.15M▲
Other amounts payable178/9€737k€747k▲
Amounts payable within one year42/48€319k€746k▲
Current portion of amounts payable after more than one year42€134k€202k▲
Trade debts44€123k€468k▲
Suppliers440/4€123k€468k▲
Advances received on contracts in progress46€45k€54k▲
Taxes, remuneration and social security45€17k€21k▲
Taxes450/3€17k€21k▲
Income statement
Code20242025
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€256k€229k▼
Other operating charges640/8€3k€6k▲
Gross operating margin9900€307k€327k▲
Operating profit (loss)9901€49k€93k▲
Financial income75/76B-€485
Recurring financial income75-€485
Financial charges65/66B€32k€80k▲
Recurring financial charges65€32k€80k▲
Profit (loss) for the period before taxes9903€16k€13k▼
Income taxes67/77€306€239▼
Profit (loss) for the period9904€16k€12k▼
Profit (loss) for the period to be appropriated9905€16k€12k▼
Appropriation of the result
Profit (loss) to be appropriated9906€-36k€-23k▲
Profit (loss) brought forward from the previous period14P€-51k€-36k▲
Transfer from equity791/2€0-
Social balance
Average headcount (FTE)90870.00.0=
The notes to these accounts (15 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
26-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Back to profitnet €16k
Net result €16k after one loss-making year.
05-06
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €-92k ▼424%
Net result drops to €-92k, the lowest in the series; recovery starts the following year.
27-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
22-07
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
10-06
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
31-12
Financial
Highest result since 2018net €118k ▲116%
Operating result €160k, net result €118k, both a record.
11-06
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema
2019
31-12
Financial
Equity above €200kEq €204k ▲36.7%
2 profitable years in a row build equity to €204k.
22-07
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema
2018
23-07
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema
2017
29-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
5 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, Kortrijk · 1 establishment unit since 2005
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Zevekotestraat(Aal) 228511 KortrijkGround area
5,567 m²
Building footprint
470 m²
Parcel 34001B0467/00N000, Flanders. Linked by address, not a title deed.
1 establishment unit
Terragro
since 20052.144.762.446
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 34001B0467/00N000 | Flanders | 5,567 m² | 1 · 470 m² | - |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel 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
Grond- & Afbraakwerken Deckers
BE 0689.969.908
Bilzen-Hoeselt · Eq €375k
TERRASSEMENTS GEOFFREY WATREMEZ
BE 0643.922.622
Chimay · Eq €375k
JME CONSTRUCT
BE 0874.697.696
Lontzen · Eq €374k
Grondwerken Dieter Depuydt
BE 0607.844.263
Staden · Eq €374k
DE JAEGER CHRISTIAN
BE 0474.628.126
Evergem · Eq €374k
Of 8,452 companies in sector 43120 we hold annual accounts for 3,231. 2,338 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded13-12-2004
Fiscal year end31-12
Activities, NACEBEL
43120Site preparation
45112
42110Construction of roads and motorways
42220Construction of utility projects for electricity and telecommunications
43110Demolition
45111
45215
45230
Sources
Crossroads Bank for EnterprisesNational Bank · 21 filingsAddress and cadastre registers
Data from official sources, last processed on 17-09-2026. Scores and ratios are computed by Checked and are not a credit decision.