AD TERRAM: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
AD TERRAM
Largest movements
- Receivables after one year -€23,304
down €23,304 (-21.7%), from €107,245 to €83,941
of which Trade receivables: -€107,245
- Cash +€8,589
up €8,589 (+186%), from €4,611 to €13,200
mainly Trade debts (+€27,443) and Receivables after one year (+€23,304)
- Receivables within one year +€5,482
up €5,482 (+8.9%), from €61,520 to €67,002
of which Trade receivables: +€2,986
- Tangible fixed assets +€2,485
new in 2025: €2,485
- Trade debts +€27,443
up €27,443 (+116%), from €23,593 to €51,035
- Debts after one year -€23,647
down €23,647 (-20.9%), from €113,205 to €89,558
- Profit (loss) carried forward -€7,518
down €7,518 (-114%), from -€6,620 to -€14,138
- Gross operating margin -€9,627
down €9,627, from €6,479 to -€3,148
- Financial charges -€6,854
down €6,854 (-63.5%), from €10,797 to €3,943
- Other operating charges +€581
up €581 (+14.4%), from €4,029 to €4,610
- Financial income -€343
down €343 (-5.6%), from €6,155 to €5,813
- Depreciation +€108
new in 2025: €108
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €173,719 | €167,249 | -€6,470 | -3.7% |
| Fixed assets | 21/28 | €205 | €2,690 | +€2,485 | +1,212% |
| Tangible fixed assets | 22/27 | - | €2,485 | +€2,485 | |
| Furniture and vehicles | 24 | - | €2,485 | +€2,485 | |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €173,514 | €164,559 | -€8,954 | -5.2% |
| Amounts receivable after more than one year | 29 | €107,245 | €83,941 | -€23,304 | -21.7% |
| Trade receivables | 290 | €107,245 | €0 | -€107,245 | -100% |
| Other amounts receivable | 291 | - | €83,941 | +€83,941 | |
| Amounts receivable within one year | 40/41 | €61,520 | €67,002 | +€5,482 | +8.9% |
| Trade receivables | 40 | €37,925 | €40,911 | +€2,986 | +7.9% |
| Other amounts receivable | 41 | €23,595 | €26,091 | +€2,496 | +10.6% |
| Cash at bank and in hand | 54/58 | €4,611 | €13,200 | +€8,589 | +186% |
| Deferred charges and accrued income | 490/1 | €138 | €417 | +€279 | +202% |
| Total equity and liabilities | 10/49 | €173,719 | €167,249 | -€6,470 | -3.7% |
| Equity | 10/15 | -€420 | -€7,938 | -€7,518 | -1,791% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,620 | -€14,138 | -€7,518 | -114% |
| Amounts payable | 17/49 | €174,139 | €175,187 | +€1,048 | +0.6% |
| Amounts payable after more than one year | 17 | €113,205 | €89,558 | -€23,647 | -20.9% |
| Financial debts | 170/4 | €113,205 | €89,558 | -€23,647 | -20.9% |
| Amounts payable within one year | 42/48 | €60,933 | €85,629 | +€24,696 | +40.5% |
| Current portion of amounts payable after more than one year | 42 | €24,963 | €23,647 | -€1,316 | -5.3% |
| Trade debts | 44 | €23,593 | €51,035 | +€27,443 | +116% |
| Suppliers | 440/4 | €23,593 | €51,035 | +€27,443 | +116% |
| Taxes, remuneration and social security | 45 | €12,378 | €10,946 | -€1,431 | -11.6% |
| Taxes | 450/3 | €9,878 | €10,946 | +€1,069 | +10.8% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €108 | +€108 | |
| Other operating charges | 640/8 | €4,029 | €4,610 | +€581 | +14.4% |
| Gross operating margin | 9900 | €6,479 | -€3,148 | -€9,627 | |
| Operating profit (loss) | 9901 | €2,450 | -€7,866 | -€10,316 | |
| Financial income | 75/76B | €6,155 | €5,813 | -€343 | -5.6% |
| Recurring financial income | 75 | €6,155 | €5,813 | -€343 | -5.6% |
| Financial charges | 65/66B | €10,797 | €3,943 | -€6,854 | -63.5% |
| Recurring financial charges | 65 | €10,797 | €3,943 | -€6,854 | -63.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,192 | -€5,996 | -€3,804 | -174% |
| Income taxes | 67/77 | €1,607 | €1,522 | -€85 | -5.3% |
| Profit (loss) for the period | 9904 | -€3,799 | -€7,518 | -€3,719 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,799 | -€7,518 | -€3,719 | -97.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.