TERRE & MER
ActiveSummary
TERRE & MER has been active since 2004 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €869k and a net result of €152k. Equity remains stable across the filed fiscal years (±2.2% per year). Its solvency ranks better than 60% of 31791 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+8
Solvency91▲+17
Growth58=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €70k at 30 days acceptable
Liquidity short (current ratio 0.65 against 0.5 in 2024; short-term debt: 15.4% and cash: 0.9% of total assets), and 34% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Activities of head offices; management consultancy activities (NACE 70)
about 69% fewer bankruptcies
← 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
66%
Return on assets
11.6%
Age of the figures
9 mo
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 14-07-2026, 17 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
17 d early
2024
27 d late
2023
1 d early
2022
60 d late
2021
29 d late
2020
89 d late
2019
108 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
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
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€869k▲ 21.2%
2024 · €717k
2018: €1.32M
2019: €1.29M▼ -2.3% vs 2018
2020: €1.35M▲ +4.9% vs 2019highest in 8 years
2021: €1.31M▼ -2.6% vs 2020
2022: €1.29M▼ -1.7% vs 2021
2023: €1.32M▲ +2.1% vs 2022
2024: €717k▼ -45.7% vs 2023lowest in 8 years
2025: €869k▲ +21.2% vs 2024
2018 → 2025
Total assets
€1.32M▼ 10.8%
2024 · €1.48M
2018: €1.67M
2019: €1.82M▲ +8.9% vs 2018
2020: €1.94M▲ +6.4% vs 2019highest in 8 years
2021: €1.89M▼ -2.5% vs 2020
2022: €1.77M▼ -6.3% vs 2021
2023: €1.75M▼ -1.2% vs 2022
2024: €1.48M▼ -15.8% vs 2023
2025: €1.32M▼ -10.8% vs 2024lowest in 8 years
2018 → 2025
Net result
€152k▲ 97.7%
2024 · €77k
2018: €46k
2019: €-31k▼ -167% vs 2018
2020: €64k▲ +306% vs 2019
2021: €-34k▼ -154% vs 2020lowest in 8 years
2022: €-22k▲ +37.0% vs 2021
2023: €27k▲ +223% vs 2022
2024: €77k▲ +188% vs 2023
2025: €152k▲ +97.7% vs 2024highest in 8 years
2018 → 2025
Working capital
€-70k▲ 41.4%
2024 · €-120k
2018: €130khighest in 8 years
2019: €-310k▼ -338% vs 2018lowest in 8 years
2020: €-247k▲ +20.3% vs 2019
2021: €-277k▼ -12.1% vs 2020
2022: €-251k▲ +9.3% vs 2021
2023: €-167k▲ +33.4% vs 2022
2024: €-120k▲ +28.2% vs 2023
2025: €-70k▲ +41.4% vs 2024
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€1.31M-€1.29M▼ 1.7%€1.32M▲ 2.1%€717k▼ 45.7%€869k▲ 21.2%
2021: €1.31M
2022: €1.29M▼ -1.7% vs 2021
2023: €1.32M▲ +2.1% vs 2022highest in 5 years
2024: €717k▼ -45.7% vs 2023lowest in 5 years
2025: €869k▲ +21.2% vs 2024
Operating result€10k-€-10k€43k€125k▲ 189%€218k▲ 74.0%
2021: €10k
2022: €-10k▼ -201% vs 2021lowest in 5 years
2023: €43k▲ +551% vs 2022
2024: €125k▲ +189% vs 2023
2025: €218k▲ +74.0% vs 2024highest in 5 years
Net result€-34k-€-22k▲ 37.0%€27k€77k▲ 188%€152k▲ 97.7%
2021: €-34klowest in 5 years
2022: €-22k▲ +37.0% vs 2021
2023: €27k▲ +223% vs 2022
2024: €77k▲ +188% vs 2023
2025: €152k▲ +97.7% vs 2024highest in 5 years
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 74% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.32M
Fixed assets
€1.18M ▼ 12.7%
Current assets
€132k ▲ 10.6%
Equity and liabilities €1.32M
Equity
€869k ▲ 21.2%
Debt
€447k ▼ 41.1%
Debt's share of the balance-sheet total falls from 51.4% to 34.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€371k▲
2024 · €286k
Cash flow
€305k▲
2024 · €237k
Current ratio
0.65▲
2024 · 0.50
Debt to equity
0.51▼
2024 · 1.06
ROE
17.5%▲
2024 · 10.7%
ROA
11.6%▲
2024 · 5.2%
Interest coverage
40.82▼
2024 · 44.24
Debt ≤ 1 year
€202k▼
2024 · €239k
Debt > 1 year
€245k▼
2024 · €519k
Income taxes
€58k▲
2024 · €42k
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 · 50 lines
Balance sheet
Code20242025
Assets
Total assets20/58€1.48M€1.32M▼
Fixed assets21/28€1.36M€1.18M▼
Tangible fixed assets22/27€1.33M€1.18M▼
Land and buildings22€1.27M€1.16M▼
Plant, machinery and equipment23€2k€1k▼
Furniture and vehicles24€57k€27k▼
Financial fixed assets28€25k€0▼
Current assets29/58€119k€132k▲
Amounts receivable within one year40/41€83k€112k▲
Trade receivables40€77k€73k▼
Other amounts receivable41€6k€39k▲
Cash at bank and in hand54/58€32k€12k▼
Deferred charges and accrued income490/1€4k€7k▲
Equity and liabilities
Total equity and liabilities10/49€1.48M€1.32M▼
Equity10/15€717k€869k▲
Contributions10/11€19k€19k=
Reserves13€698k€850k▲
Distributable reserves133€698k€850k▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€759k€447k▼
Amounts payable after more than one year17€519k€245k▼
Financial debts170/4€519k€245k▼
Amounts payable within one year42/48€239k€202k▼
Current portion of amounts payable after more than one year42€174k€119k▼
Trade debts44€73€10k▲
Suppliers440/4€73€10k▲
Taxes, remuneration and social security45€65k€73k▲
Taxes450/3€65k€73k▲
Other amounts payable47/48€0-
Accrued charges and deferred income492/3€522€162▼
Income statement
Code20242025
Non-recurring operating income76A€0-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€160k€153k▼
Other operating charges640/8€7k€4k▼
Non-recurring operating charges66A€7k€770▼
Gross operating margin9900€299k€375k▲
Operating profit (loss)9901€125k€218k▲
Financial income75/76B€143€1k▲
Recurring financial income75€143€1k▲
Financial charges65/66B€6k€9k▲
Recurring financial charges65€6k€9k▲
Profit (loss) for the period before taxes9903€119k€210k▲
Income taxes67/77€42k€58k▲
Profit (loss) for the period9904€77k€152k▲
Profit (loss) for the period to be appropriated9905€77k€152k▲
Appropriation of the result
Profit (loss) to be appropriated9906€77k€152k▲
Transfer from equity791/2€680k€0▼
Transfer to equity691/2€77k€152k▲
To other reserves6921€77k€152k▲
Profit to be distributed694/7€680k€0▼
Return on contributions (dividend)694€680k€0▼
The notes to these accounts (19 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 |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | €36k | €0 | - | - |
| Remuneration, social security and pensions62 | €57k | €57k | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €146k | €153k | €173k | €160k | €153k | ▼ 4.6% |
| Other operating charges640/8 | €3k | €4k | €3k | €7k | €4k | ▼ 47.8% |
| Non-recurring operating charges66A | - | - | - | €7k | €770 | ▼ 89.1% |
| Gross operating margin9900 | €215k | €205k | €219k | €299k | €375k | ▲ 25.3% |
| Operating profit (loss)9901 | €10k | €-10k | €43k | €125k | €218k | ▲ 74.0% |
| Financial income75/76B | - | €1 | €366 | €143 | €1k | ▲ 752% |
| Recurring financial income75 | - | €1 | €366 | €143 | €1k | ▲ 752% |
| Financial charges65/66B | €13k | €12k | €11k | €6k | €9k | ▲ 40.7% |
| Recurring financial charges65 | €13k | €12k | €11k | €6k | €9k | ▲ 40.7% |
| Profit (loss) for the period before taxes9903 | €-4k | €-22k | €33k | €119k | €210k | ▲ 76.6% |
| Income taxes67/77 | €31k | €0 | €6k | €42k | €58k | ▲ 37.9% |
| Profit (loss) for the period9904 | €-34k | €-22k | €27k | €77k | €152k | ▲ 97.7% |
| Profit (loss) for the period to be appropriated9905 | €-34k | €-22k | €27k | €77k | €152k | ▲ 97.7% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.89M | €1.77M | €1.75M | €1.48M | €1.32M | ▼ 10.8% |
| Fixed assets21/28 | €1.65M | €1.57M | €1.49M | €1.36M | €1.18M | ▼ 12.7% |
| Tangible fixed assets22/27 | €1.63M | €1.54M | €1.47M | €1.33M | €1.18M | ▼ 11.1% |
| Land and buildings22 | €1.58M | €1.50M | €1.39M | €1.27M | €1.16M | ▼ 9.1% |
| Plant, machinery and equipment23 | €19k | €9k | €4k | €2k | €1k | ▼ 30.1% |
| Furniture and vehicles24 | €28k | €36k | €79k | €57k | €27k | ▼ 53.3% |
| Financial fixed assets28 | €25k | €25k | €25k | €25k | €0 | ▼ 100% |
| Current assets29/58 | €241k | €204k | €259k | €119k | €132k | ▲ 10.6% |
| Amounts receivable within one year40/41 | €83k | €85k | €71k | €83k | €112k | ▲ 34.7% |
| Trade receivables40 | €40k | €59k | €71k | €77k | €73k | ▼ 4.9% |
| Other amounts receivable41 | €42k | €27k | €0 | €6k | €39k | ▲ 529% |
| Cash at bank and in hand54/58 | €156k | €117k | €185k | €32k | €12k | ▼ 62.1% |
| Deferred charges and accrued income490/1 | €2k | €2k | €3k | €4k | €7k | ▲ 104% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.89M | €1.77M | €1.75M | €1.48M | €1.32M | ▼ 10.8% |
| Equity10/15 | €1.31M | €1.29M | €1.32M | €717k | €869k | ▲ 21.2% |
| Contributions10/11 | €19k | €19k | €19k | €19k | €19k | = |
| Reserves13 | €1.30M | €1.27M | €1.30M | €698k | €850k | ▲ 21.8% |
| Non-distributable reserves130/1 | €25k | €25k | €0 | - | - | - |
| Reserves not available under the articles1311 | €25k | €25k | €0 | - | - | - |
| Distributable reserves133 | €1.27M | €1.25M | €1.30M | €698k | €850k | ▲ 21.8% |
| Profit (loss) carried forward14 | - | - | - | €0 | €0 | - |
| Amounts payable17/49 | €578k | €481k | €433k | €759k | €447k | ▼ 41.1% |
| Amounts payable after more than one year17 | €53k | €26k | €0 | €519k | €245k | ▼ 52.8% |
| Financial debts170/4 | €53k | €26k | €0 | €519k | €245k | ▼ 52.8% |
| Amounts payable within one year42/48 | €517k | €455k | €426k | €239k | €202k | ▼ 15.5% |
| Current portion of amounts payable after more than one year42 | €26k | €27k | €26k | €174k | €119k | ▼ 31.3% |
| Trade debts44 | €41k | €11k | €6k | €73 | €10k | ▲ 13,123% |
| Suppliers440/4 | €41k | €11k | €6k | €73 | €10k | ▲ 13,123% |
| Taxes, remuneration and social security45 | €33k | €6k | €17k | €65k | €73k | ▲ 12.0% |
| Taxes450/3 | €22k | €6k | €17k | €65k | €73k | ▲ 12.0% |
| Remuneration and social security454/9 | €12k | €768 | €0 | - | - | - |
| Other amounts payable47/48 | €418k | €411k | €377k | €0 | - | - |
| Accrued charges and deferred income492/3 | €8k | €0 | €8k | €522 | €162 | ▼ 69.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €-34k | €-22k | €27k | €77k | €152k | ▲ 97.7% |
| + Depreciation and write-downs630 | €146k | €153k | €173k | €160k | €153k | ▼ 4.6% |
| Operating cash flow (approximation) | €112k | €131k | €199k | €237k | €305k | ▲ 28.6% |
| Investment in fixed assets (approximation) | - | €-71k | €-97k | €-23k | €19k | ▲ 185% |
| Change in cash | - | €-39k | €68k | €-153k | €-20k | ▲ 86.9% |
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
Next filing, fiscal year 2026, expected by
2026
14-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €152k ▲97.7%
Operating result €218k, net result €152k, both a record.
27-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 27 days late
2024
30-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €27k
Net result €27k after 2 loss-making years.
29-09
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 60 days late
2022
29-08
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 29 days late
2021
31-12
Financial
Weakest financial yearnet €-34k
Net result drops to €-34k, the lowest in the series; recovery starts the following year.
28-10
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 89 days late
2020
31-12
Financial
Back to profitnet €64k
Net result €64k after one loss-making year.
16-11
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 108 days late
2019
27-08
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 27 days late
Show earlier events
2018
22-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 22 days late
27-02
State Gazette act
General meeting · Director resignation
Director appointment · Permanent representative
2017
30-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 30 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 5 acts read
About the unread acts
We know of 5 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
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, Landen · 1 establishment unit since 2004
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.
Dr.A. Goffinstraat 383401 Landen1 establishment unit
Terre & Mer
since 20042.136.365.711
Structure & network
Ownership & control
1 board mandateBoard mandates of this companythis company sits on their board1
1 location
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Of 82,553 companies in sector 70200 we hold annual accounts for 52,585. 29,362 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded27-02-2004
Fiscal year end31-12
Activities, NACEBEL 2025
70200Business and other management consultancy
50200Water transport
77340Rental and leasing activities
Scores and ratios are computed by Checked and are not a credit decision.