TERRAMAX
ActiveSummary
TERRAMAX has been active since 2012 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.37M and a net result of €123k. Equity is growing by ~12.1% per year across the filed fiscal years. Its solvency ranks better than 72% of 2056 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability76▲+2
Solvency86▼-8
Growth78▲+26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €100k at 30 days acceptable
Liquidity ample (current ratio 2.35 against 3.11 in 2024; short-term debt: 31.7% and cash: 34.2% of total assets), and 39.4% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Five 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
Specialised construction activities (NACE 43)
about 85% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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
60.6%
Return on assets
5.4%
Age of the figures
15 mo
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
neutral · Latest accounts filed on time
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 29-01-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
3 d early
2023
on the day
2022
1 d late
2021
14 d late
2020
1 d late
2019
3 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close25-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, full schema
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
€123k▲ 67.8%
2024 · €73k
2019: €113k
2020: €132k▲ +16.8% vs 2019
2021: €206k▲ +56.0% vs 2020highest in 7 years
2022: €119k▼ -42.2% vs 2021
2023: €128k▲ +7.8% vs 2022
2024: €73k▼ -43.0% vs 2023lowest in 7 years
2025: €123k▲ +67.8% vs 2024
2019 → 2025
Working capital
€963k▼ 3.9%
2024 · €1.00M
2019: €308klowest in 7 years
2020: €444k▲ +43.9% vs 2019
2021: €718k▲ +61.9% vs 2020
2022: €840k▲ +16.9% vs 2021
2023: €960k▲ +14.3% vs 2022
2024: €1.00M▲ +4.4% vs 2023highest in 7 years
2025: €963k▼ -3.9% vs 2024
2019 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€932k-€1.05M▲ 12.3%€1.17M▲ 12.3%€1.25M▲ 6.2%€1.37M▲ 9.8%
2021: €932klowest in 5 years
2022: €1.05M▲ +12.3% vs 2021
2023: €1.17M▲ +12.3% vs 2022
2024: €1.25M▲ +6.2% vs 2023
2025: €1.37M▲ +9.8% vs 2024highest in 5 years
Operating result€288k-€148k▼ 48.5%€171k▲ 15.4%€97k▼ 43.6%€154k▲ 59.4%
2021: €288khighest in 5 years
2022: €148k▼ -48.5% vs 2021
2023: €171k▲ +15.4% vs 2022
2024: €97k▼ -43.6% vs 2023lowest in 5 years
2025: €154k▲ +59.4% vs 2024
Net result€206k-€119k▼ 42.2%€128k▲ 7.8%€73k▼ 43.0%€123k▲ 67.8%
2021: €206khighest in 5 years
2022: €119k▼ -42.2% vs 2021
2023: €128k▲ +7.8% vs 2022
2024: €73k▼ -43.0% vs 2023lowest in 5 years
2025: €123k▲ +67.8% vs 2024
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 59% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.26M
Fixed assets
€582k ▲ 80.1%
Current assets
€1.68M ▲ 13.7%
Equity and liabilities €2.26M
Equity
€1.37M ▲ 9.8%
Debt
€891k ▲ 61.2%
Debt's share of the balance-sheet total rises from 30.7% to 39.4%. Equity and debt are higher.
Key figures and ratios
EBITDA
€280k▲
2024 · €219k
Cash flow
€249k▲
2024 · €196k
Current ratio
2.35▼
2024 · 3.11
Debt to equity
0.65▲
2024 · 0.44
ROE
9.0%▲
2024 · 5.9%
ROA
5.4%▲
2024 · 4.1%
Interest coverage
43.71▼
2024 · 85.35
Debt ≤ 1 year
€716k▲
2024 · €475k
Debt > 1 year
€171k▲
2024 · €74k
Income taxes
€42k▲
2024 · €24k
Staff costs
€928k▲
2024 · €916k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 55 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.80M€2.26M▲
Fixed assets21/28€323k€582k▲
Tangible fixed assets22/27€319k€578k▲
Land and buildings22-€167k
Plant, machinery and equipment23€193k€164k▼
Furniture and vehicles24€29k€28k▼
Leasing and similar rights25€78k€220k▲
Assets under construction and advance payments27€19k-
Financial fixed assets28€4k€4k=
Current assets29/58€1.48M€1.68M▲
Amounts receivable within one year40/41€593k€855k▲
Trade receivables40€540k€820k▲
Other amounts receivable41€53k€35k▼
Current investments50/53€650k€50k▼
Cash at bank and in hand54/58€234k€774k▲
Equity and liabilities
Total equity and liabilities10/49€1.80M€2.26M▲
Equity10/15€1.25M€1.37M▲
Contributions10/11€19k€19k=
Capital10€19k€19k=
Issued capital100€19k€19k=
Reserves13€1.23M€1.35M▲
Non-distributable reserves130/1€2k€2k=
Legal reserve130€2k€2k=
Distributable reserves133€1.23M€1.35M▲
Profit (loss) carried forward14€2k€5k▲
Amounts payable17/49€553k€891k▲
Amounts payable after more than one year17€74k€171k▲
Financial debts170/4€74k€171k▲
Amounts payable within one year42/48€475k€716k▲
Current portion of amounts payable after more than one year42€49k€60k▲
Trade debts44€187k€438k▲
Suppliers440/4€187k€438k▲
Taxes, remuneration and social security45€95k€104k▲
Taxes450/3€31k€44k▲
Remuneration and social security454/9€64k€60k▼
Other amounts payable47/48€144k€114k▼
Accrued charges and deferred income492/3€4k€4k=
Income statement
Code20242025
Remuneration, social security and pensions62€916k€928k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€122k€126k▲
Other operating charges640/8€2k€4k▲
Gross operating margin9900€1.14M€1.21M▲
Operating profit (loss)9901€97k€154k▲
Financial income75/76B€3k€17k▲
Recurring financial income75€3k€17k▲
Financial charges65/66B€3k€6k▲
Recurring financial charges65€3k€6k▲
Profit (loss) for the period before taxes9903€97k€165k▲
Income taxes67/77€24k€42k▲
Profit (loss) for the period9904€73k€123k▲
Profit (loss) for the period to be appropriated9905€73k€123k▲
Appropriation of the result
Profit (loss) to be appropriated9906€92k€125k▲
Profit (loss) brought forward from the previous period14P€19k€2k▼
Transfer to equity691/2€90k€120k▲
To other reserves6921€90k€120k▲
Social balance
Average headcount (FTE)9087915,628.5-
The notes to these accounts (9 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | €822k | €890k | €916k | €928k | ▲ 1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €226k | €186k | €127k | €122k | €126k | ▲ 2.7% |
| Other operating charges640/8 | - | €24k | €6k | €2k | €4k | ▲ 144% |
| Gross operating margin9900 | €1.27M | €1.18M | €1.20M | €1.14M | €1.21M | ▲ 6.6% |
| Operating profit (loss)9901 | €288k | €148k | €171k | €97k | €154k | ▲ 59.4% |
| Financial income75/76B | - | €2 | €10 | €3k | €17k | ▲ 516% |
| Recurring financial income75 | €63 | €2 | €10 | €3k | €17k | ▲ 516% |
| Financial charges65/66B | - | €3k | €663 | €3k | €6k | ▲ 149% |
| Recurring financial charges65 | €4k | €3k | €663 | €3k | €6k | ▲ 149% |
| Profit (loss) for the period before taxes9903 | €284k | €146k | €171k | €97k | €165k | ▲ 70.4% |
| Income taxes67/77 | €78k | €27k | €42k | €24k | €42k | ▲ 78.3% |
| Profit (loss) for the period9904 | €206k | €119k | €128k | €73k | €123k | ▲ 67.8% |
| Profit (loss) for the period to be appropriated9905 | €206k | €119k | €128k | €73k | €123k | ▲ 67.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.74M | €1.48M | €1.54M | €1.80M | €2.26M | ▲ 25.6% |
| Fixed assets21/28 | €365k | €304k | €261k | €323k | €582k | ▲ 80.1% |
| Tangible fixed assets22/27 | €362k | €300k | €257k | €319k | €578k | ▲ 81.0% |
| Land and buildings22 | - | - | - | - | €167k | - |
| Plant, machinery and equipment23 | - | €276k | €206k | €193k | €164k | ▼ 15.3% |
| Furniture and vehicles24 | - | €16k | €32k | €29k | €28k | ▼ 5.3% |
| Leasing and similar rights25 | - | €7k | - | €78k | €220k | ▲ 182% |
| Assets under construction and advance payments27 | - | - | €19k | €19k | - | - |
| Financial fixed assets28 | €4k | €4k | €4k | €4k | €4k | = |
| Current assets29/58 | €1.37M | €1.18M | €1.28M | €1.48M | €1.68M | ▲ 13.7% |
| Amounts receivable within one year40/41 | €537k | €451k | €484k | €593k | €855k | ▲ 44.1% |
| Trade receivables40 | - | €382k | €472k | €540k | €820k | ▲ 51.7% |
| Other amounts receivable41 | - | €69k | €12k | €53k | €35k | ▼ 33.7% |
| Current investments50/53 | - | - | - | €650k | €50k | ▼ 92.3% |
| Cash at bank and in hand54/58 | €837k | €728k | €791k | €234k | €774k | ▲ 231% |
| Deferred charges and accrued income490/1 | - | - | €2k | - | - | - |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.74M | €1.48M | €1.54M | €1.80M | €2.26M | ▲ 25.6% |
| Equity10/15 | €932k | €1.05M | €1.17M | €1.25M | €1.37M | ▲ 9.8% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Capital10 | - | €19k | €19k | €19k | €19k | = |
| Issued capital100 | - | €19k | €19k | €19k | €19k | = |
| Reserves13 | €807k | €1.01M | €1.14M | €1.23M | €1.35M | ▲ 9.8% |
| Non-distributable reserves130/1 | - | €2k | €2k | €2k | €2k | = |
| Legal reserve130 | - | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | - | €1.01M | €1.14M | €1.23M | €1.35M | ▲ 9.8% |
| Profit (loss) carried forward14 | €101k | €20k | €19k | €2k | €5k | ▲ 154% |
| Amounts payable17/49 | €808k | €437k | €363k | €553k | €891k | ▲ 61.2% |
| Amounts payable after more than one year17 | €152k | €97k | €46k | €74k | €171k | ▲ 131% |
| Financial debts170/4 | - | €97k | €46k | €74k | €171k | ▲ 131% |
| Amounts payable within one year42/48 | €656k | €339k | €317k | €475k | €716k | ▲ 50.8% |
| Current portion of amounts payable after more than one year42 | - | €94k | €51k | €49k | €60k | ▲ 22.5% |
| Trade debts44 | €355k | €146k | €131k | €187k | €438k | ▲ 134% |
| Suppliers440/4 | - | €146k | €131k | €187k | €438k | ▲ 134% |
| Taxes, remuneration and social security45 | - | €63k | €95k | €95k | €104k | ▲ 9.2% |
| Taxes450/3 | - | €4k | €29k | €31k | €44k | ▲ 41.6% |
| Remuneration and social security454/9 | - | €59k | €66k | €64k | €60k | ▼ 6.3% |
| Other amounts payable47/48 | - | €36k | €40k | €144k | €114k | ▼ 20.6% |
| Accrued charges and deferred income492/3 | - | - | - | €4k | €4k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €206k | €119k | €128k | €73k | €123k | ▲ 67.8% |
| + Depreciation and write-downs630 | €226k | €186k | €127k | €122k | €126k | ▲ 2.7% |
| Operating cash flow (approximation) | €432k | €305k | €256k | €196k | €249k | ▲ 27.1% |
| Investment in fixed assets (approximation) | - | €-124k | €-85k | €-185k | €-385k | ▼ 108% |
| Change in cash | - | €-109k | €62k | €-557k | €541k | ▲ 197% |
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
Next filing, fiscal year 2026, expected by
2026
04-08
State Gazette act
Resignation: VAN BELLEGHEM Dominique Marin Henri (manager)Appointment: VAN BELLEGHEM Dominique Marin Henri (non-statutory director) · Statutes amendment · Capital9 facts ▸
State Gazette act
Resignation: VAN BELLEGHEM Dominique Marin Henri (manager)
Appointment: VAN BELLEGHEM Dominique Marin Henri (non-statutory director) · Statutes amendment · Capital9 facts ▸
- General meeting, 9 juillet 2026
- Statutes amendment
- Capital, €18.600
- Purpose change, ajout de l'activité de commerce de matériel et accessoires tant au niveau agricole qu'au terrassement
- Statutes amendment
- Director resignation, VAN BELLEGHEM Dominique Marin Henri (manager)
- Director appointment, VAN BELLEGHEM Dominique Marin Henri (non-statutory director)
- Mandate compensation, VAN BELLEGHEM Dominique Marin Henri
- Power of attorney, VAN BELLEGHEM Dominique Marin Henri
29-01
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
28-01
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
30-06
Financial
Weakest financial yearnet €73k ▼43%
Net result drops to €73k, the lowest in the series; recovery starts the following year.
31-01
NBB filing
Annual accounts filed
fiscal year 2023 · full schema
2023
01-02
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 1 day late
2022
30-06
Financial
Equity above €1MEq €1.05M ▲12.3%
4 profitable years in a row build equity to €1.05M.
14-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 14 days late
2021
30-06
Financial
Highest result since 2019net €206k ▲56%
Operating result €288k, net result €206k, both a record.
01-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 1 day late
2020
28-01
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
14-01
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
02-02
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 2 days late
2017
30-01
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 3 acts read
About the unread acts
Of the 3 Belgian State Gazette acts we know for this company, 1 has been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Have them read with priority
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
04-08-2026
Resigned as Manager
09-07-2026
Appointed as Non-statutory director
Not every act has been read: a resignation may be missing here
2 of this company's 3 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Walcourt · 1 establishment unit since 2012
Ground area
4,376 m²
Building footprint
142 m²
Parcel 93011C0143/00S000, Wallonia. Linked by address, not a title deed.
1 establishment unit
Rue Wayaux(Cha) 30, 5650 Walcourt
since 20122.211.841.807
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 93011C0143/00S000 | Wallonia | 4,376 m² | 1 · 142 m² | - |
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.
Articles of association
Purpose
La société a pour objet, tant en Belgique qu’à l’étranger, pour compte propre ou compte de tiers ou en participation avec ceux-ci : - les travaux de terrassement... - l’activité de…
Full purpose
La société a pour objet, tant en Belgique qu’à l’étranger, pour compte propre ou compte de tiers ou en participation avec ceux-ci : - les travaux de terrassement... - l’activité de commerce de matériel et accessoires tant au niveau agricole qu’au terrassement. La société a également pour objet l'achat, la vente, la location de tous biens et droits mobiliers et immobiliers... La société pourra d'une façon générale accomplir toutes opérations généralement quelconques...
Structure & network
Capital and shareholders
Capital over the years
- 04-08-2026 Capital stated in the act · 18,600 EUR
Recognitions · licences · registrations
Legal Entity Identifier
984500D653F85555E498
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Of 8,454 companies in sector 43120 we hold annual accounts for 3,231. 1,483 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
Founded18-08-2012
Fiscal year end30-06
Activities, NACEBEL 2025
43120Site preparation
02200Logging
43990Other specialised construction activities
81300Landscape service activities
Contact
Phone
0497/316798
Scores and ratios are computed by Checked and are not a credit decision.