FINIS TERRAE: what changed
What changed
FINIS TERRAE
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€95,610
2024 · -€411,288+€506,899
Equity
€2.5m
2024 · €2.4m+€95,610
Cash
€1.1m
2024 · €169,587+€887,361
Balance sheet total
€11.0m
2024 · €11.1m-€53,711
Largest movements
Assets
- Cash +€887,361
up €887,361 (+523%), from €169,587 to €1.1m
mainly Stocks and contracts (+€801,388) and Investment in fixed assets (net) (+€144,076)
- Stocks and contracts -€801,388
down €801,388 (-8.0%), from €10.1m to €9.3m
- Tangible fixed assets -€219,037
down €219,037 (-29.0%), from €756,201 to €537,164
of which Furniture and vehicles: -€185,919
Equity and liabilities
- Trade debts -€191,357
down €191,357 (-50.4%), from €379,918 to €188,561
Income statement
- Gross operating margin +€408,803
up €408,803, from -€68,346 to €340,456
- Depreciation -€65,303
down €65,303 (-46.6%), from €140,264 to €74,961
- Financial charges -€40,148
down €40,148 (-19.1%), from €210,031 to €169,884
- Financial income -€16,316
down €16,316 (-80.0%), from €20,395 to €4,080
- Other operating charges -€8,961
down €8,961 (-68.7%), from €13,042 to €4,081
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€411,288
Gross operating margin
+€408,803
Depreciation
+€65,303
Other operating charges
+€8,961
Financial income
-€16,316
Financial charges
+€40,148
Result 2025
€95,610
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€633,300
Investment
+€144,076
Financing
+€109,984
Cash 2024
€169,587
From operations (derived)
+€633,300
Net result for the year
+€95,610
Depreciation
+€74,961
Stocks and contracts
+€801,388
Receivables within one year
-€81,388
Deferred charges and accrued income
+€2,034
Trade debts
-€191,357
Other debts
-€61,913
Accrued charges and deferred income
-€6,036
Investment (derived)
+€144,076
Investment in fixed assets (net)
+€144,076
Financing
+€109,984
Short-term financial debts
+€109,984
Cash 2025
€1.1m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,075,775 | €11,022,065 | -€53,711 | -0.5% |
| Fixed assets | 21/28 | €791,301 | €572,264 | -€219,037 | -27.7% |
| Tangible fixed assets | 22/27 | €756,201 | €537,164 | -€219,037 | -29.0% |
| Land and buildings | 22 | €505,869 | €453,632 | -€52,237 | -10.3% |
| Plant, machinery and equipment | 23 | €6,451 | €25,570 | +€19,119 | +296% |
| Furniture and vehicles | 24 | €243,881 | €57,962 | -€185,919 | -76.2% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €35,100 | €35,100 | = | 0.0% |
| Current assets | 29/58 | €10,284,475 | €10,449,801 | +€165,326 | +1.6% |
| Stocks and contracts in progress | 3 | €10,073,110 | €9,271,721 | -€801,388 | -8.0% |
| Stocks | 30/36 | €10,073,110 | €9,271,721 | -€801,388 | -8.0% |
| Amounts receivable within one year | 40/41 | €39,744 | €121,132 | +€81,388 | +205% |
| Trade receivables | 40 | €37,200 | €108,661 | +€71,461 | +192% |
| Other amounts receivable | 41 | €2,544 | €12,471 | +€9,927 | +390% |
| Cash at bank and in hand | 54/58 | €169,587 | €1,056,948 | +€887,361 | +523% |
| Deferred charges and accrued income | 490/1 | €2,034 | €0 | -€2,034 | -100% |
| Total equity and liabilities | 10/49 | €11,075,775 | €11,022,065 | -€53,711 | -0.5% |
| Equity | 10/15 | €2,390,398 | €2,486,009 | +€95,610 | +4.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,371,798 | €2,467,409 | +€95,610 | +4.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,371,798 | €2,467,409 | +€95,610 | +4.0% |
| Amounts payable | 17/49 | €8,685,377 | €8,536,056 | -€149,321 | -1.7% |
| Amounts payable within one year | 42/48 | €8,604,525 | €8,461,239 | -€143,286 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,931,620 | €2,041,604 | +€109,984 | +5.7% |
| Credit institutions | 430/8 | €1,931,620 | €2,041,604 | +€109,984 | +5.7% |
| Trade debts | 44 | €379,918 | €188,561 | -€191,357 | -50.4% |
| Suppliers | 440/4 | €379,918 | €188,561 | -€191,357 | -50.4% |
| Advances received on contracts in progress | 46 | €692,380 | €692,380 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €6,500 | €6,500 | = | 0.0% |
| Taxes | 450/3 | €3,750 | €3,750 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,750 | €2,750 | = | 0.0% |
| Other amounts payable | 47/48 | €5,594,108 | €5,532,195 | -€61,913 | -1.1% |
| Accrued charges and deferred income | 492/3 | €80,852 | €74,816 | -€6,036 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,264 | €74,961 | -€65,303 | -46.6% |
| Other operating charges | 640/8 | €13,042 | €4,081 | -€8,961 | -68.7% |
| Gross operating margin | 9900 | -€68,346 | €340,456 | +€408,803 | |
| Operating profit (loss) | 9901 | -€221,653 | €261,414 | +€483,067 | |
| Financial income | 75/76B | €20,395 | €4,080 | -€16,316 | -80.0% |
| Recurring financial income | 75 | €20,395 | €4,080 | -€16,316 | -80.0% |
| Financial charges | 65/66B | €210,031 | €169,884 | -€40,148 | -19.1% |
| Recurring financial charges | 65 | €210,031 | €169,884 | -€40,148 | -19.1% |
| Profit (loss) for the period before taxes | 9903 | -€411,288 | €95,610 | +€506,899 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€411,288 | €95,610 | +€506,899 | |
| Profit (loss) for the period to be appropriated | 9905 | -€411,288 | €95,610 | +€506,899 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.