TERRAPAC

Active

Private limited company (pre-2019)founded 20178 yrs activeClos Albert Perikel(THI) 2, 6230 Pont-à-Celles, BelgiumKBO/BCE: BE 0682.477.944

TERRAPAC has been active since 2017 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show equity of €39k and a net result of €-17k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 54% of 1117 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.4% (very low).

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Checked score

Score 2024

48 / 100

Fair▲ +1 vs 2023

The score combines four axes. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0=

Solvency73▼-10

Growth52=

Stability100

Bankruptcy probability, 12 months

0.4% Very low

0%0.5%1.5%4%10%≥ 25%

Credit up to €2k at 30 days acceptable

Liquidity tight (current ratio 1.11 against 1.39 in 2023), and 52.6% of the assets are financed with debt.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 71

Relative position

BE, all sectors

reference

Sector 71

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

47.4%

Return on assets

-20.9%

Age of the figures

20 mo

Higher-failure-rate region

In this region companies fail more often than in the rest of the country.

KBO · registered office

Persistent losses

Two consecutive loss-making years (2023 and 2024); equity fell accordingly. May indicate structural pressure on profitability.

NBB · annual accounts 2024

Net result per financial year

18192021222324

2018 to 2024 · latest year -€17k

Filed after the deadline

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 04-10-2025, 65 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 · 7 filings

Deviation from the deadline

2025

not confirmed

2024

65 d late

2023

48 d late

2022

66 d late

2021

55 d late

2020

61 d late

2019

24 d late

← before the deadline after the deadline →

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

Financials · fiscal year 2024, full schema

Turnover

Not included in this filing

EBIT margin

Not included in this filing

Net result

€-17k▲ 58.0%

2023 · €-41k

2018: €1k 2019: €-13k 2020: €-27k 2021: €13k 2022: €135k 2023: €-41k

2018 → 2024

Working capital

€5k▼ 71.4%

2023 · €17k

2018: €24k 2019: €-2k 2020: €3k 2021: €4k 2022: €49k 2023: €17k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€-20k-€-7k▲ 65.3%€97k€56k▼ 42.1%€39k▼ 30.6%

Operating result€-25k-€17k€163k▲ 865%€-41k€-16k▲ 60.6%

Net result€-27k-€13k€135k▲ 930%€-41k€-17k▲ 58.0%

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €16k in 2024 against €41k in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €82k

41.4%

58.6%

Fixed assets €34k▼ 20.5%

Current assets €48k▼ 21.3%

Equity and liabilities €82k

47.4%

52.6%

Equity €39k▼ 30.6%

Debt €43k▼ 9.8%

The debt ratio rises from 46.1% to 52.6%: equity shrinks faster than debt is paid down.

Key figures and ratios

2024 value · change against 2023

EBITDA

€-3k▲

2023 · €-28k

Cash flow

€-4k▲

2023 · €-28k

Solvency

47.4%▼

2023 · 53.9%

Current ratio

1.11▼

2023 · 1.39

Quick ratio

1.10▼

2023 · 1.38

Debt / equity

1.11▲

2023 · 0.86

ROE

-44.0%▲

2023 · -72.8%

ROA

-20.9%▲

2023 · -39.2%

Interest coverage

-3.22▲

2023 · -106.97

Debt

€43k▼

2023 · €48k

Debt ≤ 1 year

€43k▼

2023 · €44k

Debt > 1 year

€0▼

2023 · €4k

Income taxes

€65▼

2023 · €187

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 · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€104k€82k▼

Fixed assets21/28€43k€34k▼

Tangible fixed assets22/27€42k€34k▼

Plant, machinery and equipment23€894€637▼

Furniture and vehicles24€42k€33k▼

Financial fixed assets28€225€225=

Current assets29/58€61k€48k▼

Stocks and contracts in progress3€395€375▼

Stocks30/36€395€375▼

Amounts receivable within one year40/41€10k€42k▲

Trade receivables40€0€36k▲

Other amounts receivable41€10k€6k▼

Cash at bank and in hand54/58€50k€5k▼

Deferred charges and accrued income490/1€0-

Equity and liabilities

Total equity and liabilities10/49€104k€82k▼

Equity10/15€56k€39k▼

Contributions10/11€19k€19k=

Reserves13€2k€2k=

Non-distributable reserves130/1€2k€2k=

Reserves not available under the articles1311€2k€2k=

Profit (loss) carried forward14€35k€18k▼

Amounts payable17/49€48k€43k▼

Amounts payable after more than one year17€4k€0▼

Financial debts170/4€4k€0▼

Amounts payable within one year42/48€44k€43k▼

Current portion of amounts payable after more than one year42€5k€5k▲

Trade debts44€9k€33k▲

Suppliers440/4€9k€33k▲

Taxes, remuneration and social security45€31k€4k▼

Taxes450/3€31k€4k▼

Remuneration and social security454/9€0€0=

Other amounts payable47/48€0€1k▲

Income statement Code20232024

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€13k€13k▲

Other operating charges640/8€986€1k▲

Gross operating margin9900€-27k€-2k▲

Operating profit (loss)9901€-41k€-16k▲

Financial income75/76B€985€273▼

Recurring financial income75€985€273▼

Financial charges65/66B€265€1k▲

Recurring financial charges65€265€1k▲

Profit (loss) for the period before taxes9903€-41k€-17k▲

Income taxes67/77€187€65▼

Profit (loss) for the period9904€-41k€-17k▲

Profit (loss) for the period to be appropriated9905€-41k€-17k▲

Appropriation of the result

Profit (loss) to be appropriated9906€35k€18k▼

Profit (loss) brought forward from the previous period14P€76k€35k▼

The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 10Financial 3Filings 7

2025

04-10

NBB filing Annual accounts filed

fiscal year 2024 · full schema · 65 days late

2024

17-09

NBB filing Annual accounts filed

fiscal year 2023 · full schema · 48 days late

2023

31-12

Financial Weakest financial yearnet €-41k ▼130%

Net result drops to €-41k, the lowest in the series; recovery starts the following year.

05-10

NBB filing Annual accounts filed

fiscal year 2022 · full schema · 66 days late

2022

31-12

Financial Highest result since 2018net €135k ▲930%

Operating result €163k, net result €135k, both a record.

24-09

NBB filing Annual accounts filed

fiscal year 2021 · full schema · 55 days late

2021

31-12

Financial Back to profitnet €13k

Net result €13k after 2 loss-making years.

30-09

NBB filing Annual accounts filed

fiscal year 2020 · full schema · 61 days late

2020

24-08

NBB filing Annual accounts filed

fiscal year 2019 · micro schema · 24 days late

2019

05-08

NBB filing Annual accounts filed

fiscal year 2018 · micro schema · 5 days late

Financial 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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